This $10 billion Wall Street firm loves hiring interns

OneWire

Wall Street is known to be a demanding place to work.

Interns have to impress the higher-ups as they shoulder full-time workloads, be it updating spreadsheets or tweaking pitches.

But the real prize at the end — an offer for a permanent position — makes those grueling hours worthwhile.

Full-timers at The Polk Wealth Management Group would agree.

In the past five years, PWM hasn't hired a single person who hadn't had an internship there, the firm's founder, Lyon Polk, said in an interview with OneWire's Skiddy von Stade.

Here is a Polk (emphasis ours):

"When I look at wealth management people, because I already have the partners or senior partners that I think my business needs for the next 10 or 20 years, I'm really looking to hire the next level down. In the last five years, we have not hired a single person who hasn't been an intern for us first. And the reason is because all these kids coming out of college today are smart and what I really want to know is do they fit in the culture, do they — when you look at different silos in the business — have a passion and interest in one of those areas and do they fit in the culture? The culture is the most important thing because we're all here for long hours and I make sure that everyone gets along, wants to be here and fit in the culture."

PWM has a team of 18 that advises clients on more than $10 billion worth of assets as of April, serving ultra-high-net-worth families, their foundations, and their businesses.

Here is the full interview:

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