Blackstone president tells new analysts kindness can help careers
Jon Gray told Blackstone’s newest analyst class that ambition and high standards can coexist with treating colleagues well.
By Maya Lindqvist · Senior Technology Correspondent
3 min read
Blackstone President and Chief Operating Officer Jon Gray told the firm’s newest analysts that professional success in finance does not require adopting a harsh Wall Street persona. In remarks shared on LinkedIn, Gray said treating people well can become an advantage as young employees build their careers.
Gray, addressing Blackstone’s new analyst class, called that approach part of a “winning formula.” He urged the group to treat colleagues as they would want to be treated, calling the habit “almost like a superpower.”
“People want you to win if you treat them in a good way,” Gray said in the address. He added that being considerate does not rule out ambition, high expectations or demanding work, as long as those standards are applied with respect.
Gray points beyond elite credentials
The audience had already cleared an unusually selective hiring process. A Blackstone spokesperson told Fortune that the firm’s 2026 summer analyst acceptance rate was below 0.1%.
Blackstone did not give Fortune the number of applicants or hires for that class. Business Insider reported that last year about 57,000 people applied for 138 entry-level analyst roles, equal to an acceptance rate of roughly 0.2%. Fortune reported that the acceptance rate was 0.4% in 2021.
Gray told the analysts that strong academic records may help win offers, but they do not define who advances over time. He advised them to “work harder and care more,” according to his remarks.
He said the people he has seen achieve the most are not those who only complete assigned tasks. Gray pointed instead to employees who focus on accuracy, do more research, read further and arrive earlier when the work calls for it.
Blackstone’s reach gives the advice weight
Blackstone was founded in 1985 by Peter Peterson and Stephen Schwarzman. Fortune reported that the firm now manages more than $1.3 trillion in assets and is the world’s largest alternative asset manager.
The firm has invested in well-known companies including Hilton Hotels, Spanx and Bumble before leaving those investments, according to Fortune. Its current portfolio includes Jersey Mike’s Subs, Fortune reported.
Gray has spent 34 years at Blackstone. He joined in 1992 as a private equity mergers-and-acquisitions analyst after graduating from the University of Pennsylvania, according to Fortune.
Other executives have made similar arguments
Gray is not the only prominent business leader to frame attitude and kindness as career advantages. Amazon Chief Executive Andy Jassy told LinkedIn that “an embarrassing amount” of early-career success, especially for people in their 20s, depends on attitude.
Jassy said many workers do not consistently bring strong attitudes to the job, and that the difference can matter, according to the LinkedIn interview cited by Fortune.
Mark Cuban has also tied kindness to business performance. In a 2018 Vanity Fair interview, Cuban said, “One of the most underrated skills in business right now is being nice. Nice sells.”
Virgin Group founder Richard Branson made a related point in a LinkedIn post earlier this year, writing that “Kindness is the most underused tool in business.”
This story draws on original reporting from Fortune.