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HEDGE FUND TITAN: Do something more creative than intern at Goldman Sachs

Mike Novogratz
Mike Novogratz

(Wall Street Week) Mike Novogratz.

Hedge fund titan Michael Novogratz, the president of Fortress Investment Group, wants young people he hires to do more than just intern at Goldman Sachs or a top consulting firm.

"We interview a lot of kids, and they always want to have an internship and Goldman Sachs, an internship at McKinsey," Novogratz said on the latest episode of "Wall Street Week." And I was like, 'Go do something different. Get on a motorcycle, travel through India, and take photographs. Create a story where you learn something."

The show's host Anthony Scaramucci, the founder of SkyBridge Capital and a fellow Goldman alum, agreed with the "gap year" concept.

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"I think it makes sense too because it gives you a little more maturity," he said.

Of course, there's nothing wrong with interning at Goldman. The idea is to do something outside of finance, too.

Novogratz would know this firsthand. After graduating from Princeton, he served in the US Army National Guard as a helicopter pilot before landing a job at Goldman in 1989. He rose through the ranks there and was made a partner in 1998. He joined Fortress in 2002.

Goldman's CEO Lloyd Blankfein has told interns before that it's important to be "interesting."

"I think you also have to be a complete person," he told the bank's interns a few summers ago. "You have to be interesting. You have to be somebody who is interesting to yourself."

Bottom line: Think beyond just filling out Excel sheets for a summer. Get out and explore the world. That will make you interesting when you go to interview for a Wall Street job.

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