Positions in New York Citys financial epicenter are some of the most sought-after opportunities for undergraduatesbut landing the job doesnt mean the challenge is over.

Rich Handler, CEO of investment bank Jefferies, is one of the success stories who rose through the ranks from intern to top boss at one of Americas most prestigious financial institutions.

In a series of tweets on Sunday, he shared some real pieces of advice I wish I was given when I first started as an intern on Wall Street.

Be an adult

Investment banks want workers who are mature and reliable, Handler saidso for those joining as an intern, its time to grow up.

Welcome to the real world, he said. This is not college. You are an adult and we will treat you like one. There have been extremely rare and isolated incidents of interns not fully accepting this transition. They did not complete their internship. Such a shame, but only themselves to blame.

He also stressed that interns need to realize what we do is not a game, and that they must protect their name at all costs.

Showing off what you know to a close friend, even for no financial personal gain can have devastating ramifications, he warned. Your most precious asset you have today and throughout your life is your reputation. Every firm in our industry has seen an incredibly successful person reduced to uncontrollable tears knowing that they made a mistake that will cost them everything they worked so hard to achieve. Everything in life is fragile, especially trust. Never forget that.

Dont be afraid to ask questions

You will have a million questions, Handler said. There are no stupid ones [but] please listen to the answers as people tire of answering the same questions repeatedly.

Handler also said that speaking up to ask questions would help interns dramatically increase the odds of a successful outcome, because it was vital to spend extra time to grasp exactly what they were being asked to accomplish in an assignment.

When being asked to do something [it] is not the time to be shy or afraid that your questions will be perceived as weakness, he explained. It will take a while to learn the lingo Slowing us down until you understand what you need to do, if done right, will be viewed as a sign of your strength.

Be a great co-worker

According to Handler, the best interns are the ones without the sharp elbows that connive to make themselves look good at the expense of others.

Firms look for the best performers who ALSO make everyone else around them better, he wrote, noting that those most likely to be noticed are the people who selflessly share information to help others succeed, are capable of admitting to mistakes, and are trusted by others.

He also argued that the most important part of internshipsand businesswas building relationships, and urged incoming interns not to be intimidated by anyone they meet in their new workplace, no matter how senior they are.

The full-time people at the firm are all human beings too, he said. Everyone has multiple priorities, strengths and weaknesses, and good and bad days. Learning how to navigate these realities in the real world (outside of school) is one of the most important parts of the internship.

While he encouraged young workers to get yourself into our world and lives, Handler reminded interns that it is always okay to be yourselfeven on Wall Street.

You do not have to check your personality at the door when you join an investment bank, he said. People in our industry have a sense of humor, enjoy their coworkers and clients, and like to have fun.

Work hard

Our industry deals with lots of zeros before you get to the decimal point, so even small mistakes can quickly become big ones, Handler advised. Dont make yourself neurotic or nuts, but always check your work before submitting it. Maybe check it twice.

As well as taking the time to check the quality of their work, Handler said entry-level workers could make themselves high performers by focusing on client work and learning a little about every part of the firm theyre working for.

There are many different aspects to an investment bank and you might find a different one suits you better, he said. Even if you are in the perfect spot already, knowing the other aspects of the company will always make you better at your job and it is fun to understand how all the pieces really fit together.

Handler went on to encourage interns to forget that their internship is a temporary position.

If you act immediately like this is definitely your full-time career, you will have a much better experience, he said. Even if you wind up only doing this job for 10 weeks or a couple of years, you will be much better off because your mindset was right and you gave it your all.

Enjoy your downtime

While investment banking takes a lot of focus and dedication, Handler stressed that it was important to switch off at the end of a busy day.

Work hard and when your work is done, leave the office and go exercise, see your family and friends, explore a new city, or just rest, he said. The first in and the last out may not be viewed as the most dedicated, but rather as the one who wastes the most time.

He also encouraged interns not to worry if their summer jobs dont lead them in the direction they expect.  

If you decide you really dont like this summer job or if you decide you love it but circumstances result in not achieving a full time offer, neither is the end of the world, he insisted. Having youth, smarts, personality, experience, health, family, friends and ambition will go a long way. Have confidence in yourself that if things do not work out, it is probably our loss and not yours.

State Farm announced last week it would stop accepting applications for all business and personal lines of property and casualty insurance, citing inflation, a challenging reinsurance market and rapidly growing catastrophe exposure. The decision did not impact personal auto insurance.

We take seriously our responsibility to manage risk, State Farm said. Its necessary to take these actions now to improve the companys financial strength.

Allstate, another insurance powerhouse, announced in November it would pause new homeowners, condo and commercial insurance policies in California to protect current customers.

The cost to insure new home customers in California is far higher than the price they would pay for policies due to wildfires, higher costs for repairing homes and higher reinsurance premiums, Allstate said in a statement.

Californias unsettled market aligns with trends across the country in which companies are boosting rates, limiting coverage or pulling out completely from regions susceptible to wildfires and other natural disasters in the era of climate change. Florida and Louisiana have struggled to keep healthy insurance markets following extensive damage from hurricanes. Premiums are rising in Colorado amid wildfire threats, and an Oregon effort to map wildfire risk was rejected last year because of fears it would cause premiums to skyrocket.

Scientists say climate change has made the West warmer and drier over the last three decades and will continue to make weather more extreme and wildfires more frequent and destructive. In recent years, California has experienced the largest and most destructive fires in state history.

Some California homeowners already are going without coverage, and a shortage of new policies could make it more difficult to buy a home. A state-run pool that serves as the insurer of last resort for many could face pressure as enrollments surge.

The state pool the California Fair Access to Insurance Requirements Plan provides basic fire insurance coverage for properties in high-risk areas when traditional insurance companies will not. Enrollments have jumped in recent years to 272,846 homes in 2022.

We just dont have a stable insurance market, said state Sen. Bill Dodd, a Democrat from Napa, whose Northern California district has been charred by wildfires. Whats happening is a lot of people in my district and frankly other districts are going naked they have no insurance.

According to data compiled by the industry-supported Insurance Information Institute, California has more than 1.2 million homes at risk for extreme wildfire, far more than any other state.

The number of acres burned in California has grown steadily in recent years, as more people are moving into fire-prone areas of the state, the institute said in a statement on the company departures from California. More homes in harms way combined with rising costs of repairing or replacing houses either damaged or lost to fire leads to increased insured losses.

In Colorado, which has been hit by devastating wildfires, insurance premiums have been rising significantly, and some smaller insurance companies have been pulling back from covering properties. A study commissioned by state lawmakers found that 76% of carriers decreased their exposures in Colorado in 2022, leaving the five largest insurance companies to dominate the market.

Florida has struggled to keep the insurance market healthy since 1992, when Hurricane Andrew flattened Homestead, wiped out some insurance carriers and left many remaining companies fearful to write or renew policies in Florida. Risks for carriers also have been growing as climate change increases the strength of hurricanes and intensity of rainstorms.

Louisiana is in the midst of an insurance crisis, exacerbated by hurricanes Delta, Laura, Zeta and Ida in 2020 and 2021. As claims piled up, companies that wrote homeowners policies in the state went insolvent or left, canceling or refusing to renew existing policies.

In California, the loss of large insurers could create more pressure to loosen consumer-minded policies that have held down rates in the state for years. Voters approved Proposition 103 in 1988, which allows the state insurance commissioner to reject proposed rate increases and order refunds. It has been credited with saving consumers billions of dollars, but the industry says it places constraints on accurate underwriting and pricing risk.

Last year, Insurance Commissioner Ricardo Lara advanced regulations requiring insurers to give discounts to customers if they followed new standards like building fire-resistance roofs and creating defensible space around their homes.

Before their announcements, State Farm and Allstate both had been seeking significant rate increases.

Consumer Watchdog, a nonpartisan advocacy group, said State Farms decision was unlawful.

Insurance companies cant just stop selling insurance to consumers in order to make more money for themselves, Harvey Rosenfield, the author of Proposition 103 and the founder of the group, said in a statement. They have to open their books and get the (state) insurance commissioners approval.

Laras office didnt respond to an email request for comment.

A state website lists more than 100 companies selling residential insurance, though some offer only limited lines of coverage, such as earthquake or renter insurance.

The media mogul and 81-year-old Sports Illustrated star said she simply doesnt understand how hybrid workers can get all their tasks done by going into the office three days a week.

She fears that if remote or hybrid work continues then America will suffercriticizing European counterparts who have a more flexible work/life balance.

In an interview with Footwear News, the lifestyle expert said: You cant possibly get everything done working three days a week in the office and two days remotely.

Look at the success of France with their stupid you know, off for August, blah blah blah. Thats not a very thriving country, she said, continuing: Should America go down the drain because people dont want to go back to work?

The statement that the entire French nation takes a month off work in August is not entirely true, with many shops and attractions remaining open throughout summerparticularly in tourist destinations.

French people do tend to take some of their holiday in July or Augustemployees are entitled to 30 days of annual leave to use across the yearand even have names for those who take time in Julythe juilletistesor Augustthe aoûtiens.

Stewartformerly a stockbrokeradded she was on a rampage to get people across the U.S. back to the office.

Its not the first time Stewart has made her strong opinions on work known.

In 2021, she shared an anecdote with Harpers Bazaar about calling an employee on a Sunday who told her they couldnt talk because they were in the bath.

The founder of Martha Stewart Living Omnimedia said the interaction made it clear she couldnt work with the individual, but said she would have made allowances if the employee had been unable to speak on a Sunday for religious reasons.

If you cant talk on a Sunday and you take umbrage that Im calling you on a Sundayyou know, if you are a terribly religious person, I take that into consideration, Stewartwho also spent five months in prison on multiple felony chargestold the magazine. But I knew this guy was not a terribly religious person. Its exciting! Business is exciting. I want people to feel that way about business.

A horrific calendar

Other CEOs mandating their workers return to the office have been criticized for not coming back themselvesbut Stewart wants to practice what she preaches.

I havent stopped at all. You should see my calendar. Its horrific, she said.

In the past year Stewart has launched a podcast, expanded her CBD business, struck a deal with Sketchers, launched a new immersive retail experience with Amazon and created three new TV shows with Roku.

She worked five days a week in lockdown, even filming a TV show from her home in Bedford, N.Y. the self-proclaimed self-made billionaire revealed.

I was brought up to do what I want to do when I want to do it as well as I can do it, Stewart added. Something I always say is to be curious and keep learning something new every day.

She added that now is the time for women to step it up, explaining: Women are afraid. They lived through the pandemic. Theyve lived through the #MeToo movement, which made a lot of them uncomfortable. But it also empowered women to speak out.

Stewart, who counts rapper Snoop Dogg among her friends and colleagues, has also been open about the fact that a work/life balance has eluded her.

Balancing a successful career and home life is one of the most difficult things to do Steward told CNN in 2018.

That balance which is so illusive to most of us didnt work for me. I thought Oh I can do it and I can do all of thatI had to sacrifice a marriage because of the lure of the great job. But I dont regret it at all because what Ive done is something bigger and better than just one marriage probably.

Its impossible for most of us to get that balance, she said.

COVID disrupted the workplace. Employee wellness scores declined. Now, diverse employees are more inclined to work from homeand those who are required to be in the warehouse or other blue-collar locations are leaving in droves. Higher technical skills are required, making recruitment more difficult. Middle managers, who train and mentor newcomers, are busier than ever.

Recently, the culture wars have focused on DEI issuesand the battles are growing more intense as the U.S. presidential campaigns heat up. Diversity-related debatesfrom LGBTQ and Trans, critical race theory, school board battles, and other hot potatoesare making news and dividing families and communities. Former Fox News commentator Tucker Carlson said DEI is why big banks are now increasingly incompetent. Florida Governor Ron DeSantis said, Silicon Valley Banks diversity, equity, and inclusion requirements diverted from them focusing on their core mission. Virginias chief diversity officer told an audience at Virginia Military Institute, DEI is dead.

It appears that some companies are pulling back on DEIor at least not discussing or promoting it. Thats a mistake.

A diverse management team and workforce produce better results. Martine Ferland, the CEO of Mercer, says a diverse workforce does create better business outcomes, especially when it is owned by the whole business, not just HR. However, Ferland recognizes that while companies do have a commitment to DEI, they face challenges. Often turnover is higher among women and people of color. One reason may be that the U.S. is a laggard in fixing the gender pay gap, according to the Organization for Economic Cooperation and Development.

We want to accelerate diversity of ideas. We support inclusion throughout the company. As problem solvers, its critical for our business, Tam Nguyen, the general manager at bechtel.org (Bechtels impact company) told me.

Moreover, younger employees (and prospective employees) demand it. Leo Mackay, the SVP for ethics and enterprise assurance at Lockheed Martin, says todays workers want purpose.

The MBA students and young alumni whom I deal with often call it purpose as well as a paycheck. They want a healthy work culture, which to them includes DEI. They want a company that invests in its people. These talented young workers are expensive to recruit and retain. They represent an asset that simply cannot be duplicated or ignored. Companies need to be responsiveand that includes a commitment to DEI.

Perhaps the most important reason why companies should step up to create and foster DEI goes beyond corporate walls and immediate business goals. Its about America itself. The private sector can beand often isa powerful force for good. In the pursuit of profit, there is also the responsibilityand obligation to contribute to society.

We live in a divided country, one with intense levels of disharmony, a malaise over identity, and a general sense of unease about what lies ahead.

At a discussion about Swiss citizenship (which is extremely difficult to obtain), I once heard a Swiss official say of the U.S., Its a country of over 300 million people, each proud to be an American. Thats not so true anymore. And yet were all immigrants, if you go back far enough. All four of my grandparents came here from somewhere else. Its almost a cliché to say the American Dream is tarnished. But its not beyond repair. As the late Congresswoman Barbara Jordan said, What people want is an America as good as its promise.

Jesse Owens, the African American track star who won four gold medals in the 1936 Olympics in Nazi Germany, spoke of equity when he said, Once the race starts, its not about Black or White, its about fast or slow. But thats only true if everyone has an equal place at the starting line.

We need to do betterand do it faster. Corporations have the ability to pursue and achieve performance as well as purposethe purpose of a better America. Its the right thing to do, and its why we cant backslide on diversity, equity, and inclusion.

Bill Novelli is a professor emeritus at the McDonough School of Business at Georgetown University. He was CEO at AARP and at Porter Novelli, the global PR firm. His latest book is Good Business: the Talk, Fight, Win Way to Change the World.

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

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