Investment banking internships kick off across Wall Street this week. Richard Handler, CEO of investment bank Jefferies, has some tips for incoming interns, including a harsh reminder that working hard is no guarantee of a job. Handler's comments come as investment banking internships kick off at a difficult time for Wall Street. Handler acknowledged that some interns decide that investment banking is not for them. Insider's Reed Alexander spoke to an investment banking intern for a midsize bank who said he hated being chained to his desk and seeing junior bankers being reamed out in public.

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Persons: Richard Handler, Handler, Richard Handler's, Goldman Sachs, Jefferies, aren't, Brownstein, Insider's Reed Alexander Organizations: Jefferies, Morning, Twitter, Wall, Bank of America