Three Business Insider journalists named Livingston Award finalists.
Business Insider
Three Business Insider journalists have been named finalists for the prestigious Livingston Awards, which honor excellence in journalism by young journalists.
Senior Reporter Cecilia Reyes was recognized for "Locked Out," her powerful investigation into the rise of illegal evictions across America. Cecilia's three-part series unearthed hundreds of cases across eight major US cities where police did little to nothing when answering emergency calls for help with illegal evictions. Her investigation revealed that most remedies to illegal lockouts offer near impunity to landlords and little recourse to tenants.
Correspondent Nicole Einbinder and Hannah Beckler were honored for "The Gutting of the Eighth Amendment," an eye-opening series that reveals how the constitutional protection against cruel and unusual punishment is being eroded across the country. The series sheds light on the hidden ways vulnerable Americans are being punished, and often in silence and without recourse.
Read more about the Livingston Awards and this year's finalists here.
Business Insider YouTube channel wins two 2025 Webby Awards
Business Insider
Business Insider's YouTube channel has won a Webby Winner and People's Voice Winner in the category of Business Video & Film at the 2025 Webby Awards. The Business Video & Film category acknowledges original digital or streaming series, or video channels devoted to the business world.
The Webby Awards were established in 1996 and recognize the best of the internet. This year, 13,000 pieces were submitted from over 70 countries, and a win — either for the Webby Winner or People's Voice Winner — is only achieved by the top 4% of all entered work.
Business Insider's YouTube channel, honored with both The Webby Award and The Webby People's Voice Award, was selected by the executive judges of The International Academy of Digital Arts and Sciences and voted for by the public.
"This is the result of the hard work of the more than 80 journalists who have produced some of the best documentaries on YouTube over the past years," said Executive Producer Barbara Corbellini Duarte. "We're so proud to have built such a strong video team at Business Insider, and it's an honor to be recognized by our audience and the Webby's Judging Academy. The recognition couldn't come at a better time, as we approach 10 million subscribers."
PriscilI la Ellington joins Business Insider as Vice President of BI Live, the company's new live events business that brings its award-winning journalism to global audiences through interactive event formats. In the coming months, Business Insider will hire an Editorial Director to co-lead BI Live alongside Ellington.
BI Live will focus on in-person, interactive events that showcase the best of Business Insider's reporting across our core coverage in business, tech, and innovation. Readers, subscribers, and industry leaders will come together to have meaningful discussions.
"The launch of BI Live marks a milestone for Business Insider. Over a year ago, we returned to Business Insider, and now, we are positioned perfectly to create a unique live events business that sets us apart from the rest," says Business Insider Chief Revenue Officer, Maggie Milnamow. "BI Live will bring our award-winning journalism to partners on a global scale, and we are thrilled to debut BI Live at Cannes Lions Festival this year."
"There's never been a more opportune time to build a live events business that truly stands out. Business Insider is known for bold storytelling and innovation, making it the perfect place to build a thriving events business. BI Live is set to disrupt the saturated events market.I look forward to shaking things up and building a high quality, deeply engaging portfolio that delivers results for Business Insider partners," says Ellington.
Priscilla has a deep passion for bringing journalism to life through live experiences. Prior to Business Insider Priscilla led groundbreaking initiatives at Bloomberg Live Experiences and The Wall Street Journal Barron's Group conference business, consistently driving performance, and revenue growth.
BI Live's debut coincides with a major moment on the global marketing calendar: the 2025 Cannes Lions Festival in June, where Business Insider will host its flagship CMO Insider breakfast — a high-impact gathering that brings together marketing's most influential voices for intimate, editorial-led conversation.
If you're looking for a job, we know things feel grim. White-collar hiring has slowed, and many people are clinging to their jobs even if they're unhappy. While US job growth beat forecasts in March, unemployment ticked up too, and the competition for open roles remains fierce. With job applications piling up and layoffs, budget cuts, and economic uncertainty haunting both people and businesses, a job market that feels "meh" could soon get a lot worse.
At Business Insider, we're constantly studying the changing workplace and collecting the most up-to-date expert advice for job-seekers. We've tapped HR managers, recruiters, career coaches, and executives for their best advice on everything from crafting a standout resumé to networking your way to a final offer.
To help you navigate your job search successfully, we've also talked to dozens of non-experts — regular people who've managed to break through and land offers — and asked them to share their happy endings and hard-won wisdom.
Below you will find a list of the top new rules for job-seekers in 2025 from BI correspondent Aki Ito and a career coach's advice for overcoming a career setback. An ex-VP of HR at Microsoft who's watched people network their way to jobs for years shared the tried-and-true approaches he's witnessed. An ex-Amazon VP who's viewed 10,000-plus résumés in his career revealed the most common mistakes he's seen and how to fix them. A tech worker who landed six-figure roles at Meta and Google by finding the "third door" shared his trick for breaking into companies, along with the exact résumé he uses.
Now more than ever, it's imperative for job-seekers to stand out from the pack in order to land their next role. Here's how experts told us job seekers can do just that.
Give yourself an edge
Level up your résumé
What the pros say
Real-world success
Credits
Reporters: Charissa Cheong, Alyshia Hull, Aki Ito, Christine Ji, Robin Madell, Michelle Mastro, Tim Paradis, Melissa Petro, Jacob Zinkula
Editors: Eric Bates, Emily Canal, Kiera Fields, Clementine Fletcher, Lauryn Haas, Manseen Logan, Akin Oyedele, Debbie Strong, Jane Zhang
Expert Panel: Ethan Evans, Andrew Yeung, Madeline Mann, Marnie Lemonik
We've tried everything from breakfasts and dinners to desserts and specialty bread.
Some winning recipes came from Guy Fieri, Ree Drummond, Carla Hall, Ina Garten, and more.
Business Insider put the best recipes from celebrity chefs head-to-head to find the most delicious salads, desserts, bread, beverages, and more.
Here are some of the winners, from hearty breakfasts to refreshing cocktails.
Editor's note: This story was originally published in September 2021 and most recently updated on December 26, 2024.
Breakfasts
The most important meal of the day deserves a great recipe. Food writers Paige Bennett and Tiffany Leigh tested scrambled eggs, omelets, blueberry pancakes, and breakfast burritos to see if they were worth the hype.
The winning chef's scrambled eggs had parsley as a secret ingredient
Emeril Lagasse's recipe for scrambled eggs was the best.
Paige Bennett for Insider
Emeril Lagasse's flavorful recipe for scrambled eggs was food writer Bennett's favorite.
Though the seasoning alone had 10 ingredients, the rest of the technique only required eggs, cheese, milk, butter, and salt. According to Bennett, the cooking process was easy and took only a couple of minutes.
The eggs were incredibly creamy, runny, and cheesy, paired well with fresh parsley.
Out of the many omelet recipes, the best one was microwaved
Carla Hall's microwaved omelet only takes a couple of minutes.
Paige Bennett for Insider
Bennett had a couple of favorite omelet recipes, but one of her favorites included Carla Hall's microwaved eggs.
Filled with mayonnaise, lemon juice, broccoli, and butter, the end result was fluffy and light. It had a nice balance of creamy cheese and crunchy vegetables.
The key to fluffy blueberry pancakes is whipped eggs
The finished pancake made with Bobby Deen's recipe was soft and golden.
Paige Bennett for Insider
Bobby Deen's winning recipe calls for whipped egg whites.
According to Bennett, the hardest part was whisking the eggs into stiff peaks, but the rest was simple and quick. The final stack was fluffy and delicious, especially with syrup.
Nancy Fuller serves up a hybrid of chia-seed pudding and overnight oats in half of a cantaloupe, then tops the concoction with blueberries and honey.
Bennett put all of the ingredients except the blueberries in a container and placed them in the fridge overnight. The flavor goes so well with the blueberries and honey.
Use simple and fresh ingredients to make delicious blueberry muffins
Trying Ina Garten's blueberry muffin was love at first bite.
Paige Bennett for Insider
Ina Garten's simple take on classic blueberry muffins proved to be the best of the bunch.
After using basic ingredients like flour, sugar, baking powder, baking soda, and salt to make the dough, Bennett folded in buttermilk, butter, eggs, lemon zest, and blueberries to make golden and moist muffins.
Use toasted oats for a hearty loaf of banana bread
The oats gave Alton Brown's bread a nice nutty flavor.
Paige Bennett for Insider
To make Alton Brown's banana bread, swap regular flour for homemade toasted-oat flour.
Bennett found the hardest part was making the flour without a food processor. After toasting and pulverizing oats and mixing them in eggs, stick everything in the oven for 10 minutes.
The final product has a distinct nutty flavor without being overpowering.
Three different kinds of alcohol are used to make a sweet and crispy French toast
Guy Fieri's recipe was complicated, but the results were delicious.
Paige Bennett for Insider
To make Guy Fieri's French toast, you'll need orange-flavored and creme de banana liqueur, dark rum, milk, cinnamon, and brown sugar. This recipe turned out to be the most expensive of the bunch, thanks to the alcohol.
Bennett thickened caramel sauce, dipped and fried bread, and carefully sautéd sliced bananas.
The sweet toast was soft but slightly crispy. The bananas gave it a hint of freshness, and the caramel sauce was delicious. You won't even need maple syrup.
Out of all the breakfast burritos, the best one had steak
Guy Fieri's burrito required a lot out of the cook, but it was satisfying and filling.
Tiffany Leigh
Fieri's breakfast burrito recipe calls for ingredients like skirt steak, scrambled eggs, onions, and pico de gallo. This recipe made the best-looking burrito and had an umami flavor thanks to the juicy steak.
Leigh arranged the filling, made up of steak, eggs, diced potatoes and onions, cheese, salsa roja, and lettuce, on the tortilla and then griddled the burrito for a couple of minutes. This gave the burrito a nice golden-brown color and grill marks.
The result was an incredibly satisfying breakfast dish loaded with flavors and textures.
Jeff Mauro's recipe for homemade hash browns came together quite easily
Jeff Mauro's hash browns got perfectly crispy and were well-seasoned.
Andy Lynes
Writer Andy Lynes thought Mauro's recipe for hash browns was easy to follow and produced a recognizable version of the breakfast classic.
Notably, this recipe didn't call for eggs or onions. Mauro's recipe required a short list of potatoes, butter, olive oil, paprika, garlic powder, and cayenne powder.
The final hash browns had a great color from the spices, and they crisped up nicely in the pan.
A meal isn't complete without a generous side. We tested everything from different kinds of bread to salads and spreads to find which ones should be staples at your dinner table.
For flavorful corn on the cob, try a spicy chile-lime recipe topped with cheese
Aarón Sánchez's corn looked and tasted delicious.
Paige Bennett
Bennett followed corn recipes from Fieri, Giada De Laurentiis, Trisha Yearwood, and Aarón Sánchez.
After grilling the corn for 20 minutes, Sánchez seasons it with rocoto-chile paste, fresh cilantro, lime juice, butter, cumin, salt, and pepper.
Bennett topped it with cotija cheese, cilantro, and butter for a spicy and cheesy main dish.
Garten's stuffing was Bennett's favorite because of its complex flavor and easy preparation.
It required only one type of bread, baguettes, which made it easier to prepare. It also had fresh herbs, apples, and almonds combined with savory onions and celery.
To make the best guacamole, you'll need fresh ingredients
Aarón Sánchez's recipe had the best presentation.
Paige Bennett for Insider
Sánchez's guacamole is stuffed with a ton of ingredients, which made it the most time-consuming recipe of them all.
After using a mortar and pestle to grind the ingredients, Bennett noted that the chile, cilantro, sliced radish, and queso fresco added a nice kick to the avocado.
Easy and affordable ingredients can make the tastiest deviled eggs
Alex Guarnaschelli's simple deviled eggs were delicious.
Paige Bennett for Insider
Bennett tried deviled-egg recipes from Alex Guarnaschelli, Rachel Ray, and Paula Deen. Guarnaschelli's eggs were not only a breeze to make, but they were also creamy.
Simply toss egg yolks in a bowl with the rest of the ingredients until they become soft. They have a nice kick thanks to the hot sauce, scallions, and paprika.
This celebrity chef's garlic bread was buttery, spicy, and not at all soggy
The texture of Guy Fieri's garlic bread was spot-on.
Paige Bennett for Insider
The ingredients for Fieri's recipe are a little more complex than others, but the process is quite simple.
Bennett added all the ingredients to a bowl and slathered them on a French baguette. The parmesan, hot sauce, scallions, and parsley balanced each other out.
The best cornbread didn't have any butter but turned out soft and fluffy
Carla Hall's cornbread came out golden and cracked.
Paige Bennett for Insider
Hall follows her grandmother's recipe for golden cornbread. Bennett tested it out and found her technique to be simple and straightforward.
After making a thick batter, heat a cast-iron skillet and pour the mixture in. The creamed corn and canola oil made for a slice of soft and savory bread.
Guy Fieri's biscuits had a slightly lighter color than the others.
Paige Bennett for Insider
Fieri's buttermilk biscuits had similar ingredients to other recipes. Bennett mixed the ingredients in a food processor, cut the dough into rectangles, and brushed them with butter and salt.
She was initially skeptical of the scone-like appearance but found the cake flour made for a soft and delicious biscuit.
Brown's recipe seems complex at first but turned out to be quite simple. Bennett tossed the flour, yeast, sugar, salt, egg yolks, and warmed milk in a stand mixer and let the dough rest.
After letting it rest for an hour, slicing it into strips, and baking them, she found the rolls to be savory and crispy.
Ina Garten's mashed potatoes used sour cream for tanginess.
Paige Bennett for Insider
Garten's recipe was a traditional take on mashed potatoes. Bennett put it to the test and used a ricer to break up red potatoes, which was the most time-consuming part.
After mixing it with warm milk, sour cream, and butter, the final result was tangy and savory.
The best recipe for egg salad was simple and had a dash of fresh herbs
Ina Garten's egg salad was near perfect.
Paige Bennett for Insider
Garten's egg salad featured dill and mustard, with a stronger egg flavor. Bennett found the process of boiling eggs to be easy and quick.
All she had to do was add eggs to a pot, boil them, drain them, and cover the batch in cold water. Finally, she added some mayonnaise, mustard, salt, and dill.
Bennett's favorite pasta salad featured Miracle Whip for a salty and sweet flavor
The cheese in Sunny Anderson's dish was a welcome addition.
Paige Bennett for Insider
Sunny Anderson's recipe for pasta salad calls for peas, cheddar, bacon, and Miracle Whip.
Bennett found it to be easy to make. She simply mixed anchovy-free Worcestershire sauce, red onion, apple-cider vinegar, sugar, salt, and pepper with cooked noodles. The sweet replacement for mayonnaise added a tangy kick.
There was more than one winner for the best potato salad
It was a tie between Guy Fieri's and Ina Garten's recipe.
Paige Bennett for Insider
Fieri and Garten were tied for the best potato salad. Fieri's recipe called for red potatoes, vinegar, mayonnaise, sour cream, green onions, bacon, and chopped green onions.
Garten, on the other hand, used whole-grain mustard, buttermilk, salt, pepper, celery, red onion, and white potatoes. Both were crunchy and tangy thanks to the vegetables and condiments.
The best marinara sauce used red wine to create a sweet yet rich flavor profile
Several aspects about Ina Garten's sauce set it apart from the rest.
Paige Bennett
Garten came out on top with the best marinara-sauce recipe perfect for any pasta. Garten's marinara recipe required a 1/2-cup of wine, crushed tomatoes, fresh parsley, salt, pepper, onion, garlic, and olive oil.
Bennett sautéd the onions and garlic and then deglazed the pan with red wine, which boiled down pretty quickly. Once she added the other ingredients to the pot and let them simmer, she topped the sauce with some fresh parsley.
Raisins added a chewy texture to Sunny Anderson's coleslaw.
Paige Bennett
Bennett was a fan of Anderson's flavorful coleslaw. The apple-raisin slaw called for mayo, sour cream, golden raisins, celery seeds, apple-cider vinegar, cabbage, shredded carrots, and shredded apples.
The finished dish had a balance of sweetness, savoriness, acidity, and tanginess from the sour cream, apples, and raisins. The flavors worked together to make a light yet refreshing take on the cookout classic.
If you find yourself scratching your head for a meal plan or main course, look no further. We've tested baked potatoes, hamburgers, corn on the cob, roast chicken, and pasta to find the best options for your next dinner.
The juiciest hamburgers are filled with steak sauce and butter
Ina Garten's burger was the tastiest.
Lucien Formichella for Insider
Food writer Lucien Formichella made different hamburger recipes from Brown, Fieri, and Garten.
His favorite was by the "Barefoot Contessa," which used the most ingredients — an egg yolk, steak sauce, two kinds of meat, and seasoning.
After hand-mixing everything, Formichella added butter to the meat and cooked it in a pan to make a robust and flavorful patty.
Delectable roast chicken doesn't need extra seasoning or toppings
Thomas Keller's chicken took minimal effort.
Tiffany Leigh for Insider
Leigh made roast chicken using recipes from Thomas Keller, Daniel Boulud, and Garten. Leigh found Keller's technique to be a breeze — and it only uses a handful of ingredients.
After defrosting the chicken, patting off the moisture, and sprinkling pepper and salt on the skin, she cooked it in a cast-iron skillet for 50 minutes. The result was crispy, golden brown, and juicy.
For tasty fettuccine Alfredo, incorporate cauliflower and no cream
Katie Lee Biegel's fettuccine will become a go-to meal.
Paige Bennett for Insider
Katie Lee Biegel's fettuccine uses less cheese and more vegetables than other recipes. Though Bennett felt this recipe was more complex than the rest, she found it made the perfect sauce.
To make it, boil cauliflower florets, blend them with milk, and add fettuccine to the boiling vegetable mix. After adding Parmesan cheese, she loved the creamy texture and hardly tasted the cauliflower.
For crispy chicken wings, try a flavorful breading and deep-frying
Sunny Anderson's wings have a great crunch.
Chelsea Davis
Anderson's recipe calls for deep-frying and covering the chicken wings with a Buffalo sauce. Food writer Chelsea Davis didn't think that the breading and sauce were anything unique, but she loved that these wings had a nice crunch and tasty deep-fried flavor.
After tossing the wings with a spice blend of flour, cayenne, salt, and pepper, Davis heated oil in a pan and deep-fried the wings for about 25 minutes to create a great taste and texture.
There wasn't just one winner in the battle for the best chili
There was a tie for Ree Drummond's and Giada de Laurentiis' chili recipes.
Chelsea Davis
Davis made different types of chili from celebrity chefs from Garten, Drummond, and De Laurentiis. She loved Drummond's take on a traditional dish as well as De Laurentiis' recipe for a comforting, vegetable-filled chili.
Davis browned ground meat with onions and added a spice blend — chili powder, cumin, oregano, and cayenne pepper — tomato sauce, beans, and corn grits to make Drummond's chili.
For De Laurentiis' dish, Davis cooked ground chicken with a blend of salt, cumin, fennel, oregano, and chili powder and added corn, white beans, and Swiss chard to the mix.
Davis loved both Drummond's and De Larentiis' chili recipes for their hearty, savory, and complex flavors.
Ray's ribs packed flavor and called for a boozy ingredient
Ray's rack of ribs were slightly spicy and fruity.
Pascale Mondesir
Writer Pascale Mondesir thought Ray's dry rub helped make flavorful, delicious ribs.
The recipe called for a dry rub made with brown sugar, espresso powder, mustard powder, paprika, and cayenne. For the sauce, Ray specifically recommended Southern Comfort whiskey, as well as standard ingredients like chicken stock, tomato sauce, brown sugar, vinegar, Worcestershire sauce, hot sauce, garlic, onion, oil, and ground pepper.
Though she wasn't sure if she'd like the mixture of hot sauce and whiskey in the sauce, the finished dish had a good spice level and enjoyable fruity flavor notes from the alcohol.
Celebrity chef Roy Choi's recipe for grilled cheese kept things simple yet tasty
Roy Choi's grilled-cheese sandwich called for only a few ingredients.
Meredith Schneider
Writer Meredith Schneider thought Choi's recipe for a grilled-cheese sandwich had an impressive, delicious blend of cheesy flavors.
The sandwich had the shortest ingredient list out of the recipes she tried, calling for sourdough bread, unsalted butter, yellow cheddar, white cheddar, Gruyère, and Parmesan.
Schneider even plans to make Choi's sandwich recipe her new go-to grilled cheese.
The perfect pumpkin pie had a bourbon-maple whipped cream
Bobby Flay's pie looked perfect once it cooled.
Paige Bennett for Insider
Though Flay's recipe had a laundry list of steps, Bennett found that making the filling was simple.
After hand-mixing all the ingredients in a bowl and baking a graham-cracker crust, all she had to do was pour the filling in and bake the pie for 90 minutes.
With the whipped cream, the dessert had the perfect balance of vanilla, maple syrup, warm pumpkin, and spices.
Dark chocolate-loaded brownies pair well with berries
Gordon Ramsay's brownies smelled so good.
Paige Bennett for Insider
To make Gordon Ramsay's indulgent brownies, melt dark chocolate and butter in a broiler and add in the rest of the batter ingredients.
After only 20 minutes, toss more chocolate bits into the crust to break it up. Bennett noted they became bubbly and added to the rich flavor and texture of the pastry.
You can make quick and easy chocolate lava cake using kitchen staples
The inside of Ree Drummond's lava cake was like a gooey brownie batter.
Paige Bennett for Insider
For an easy-to-make lava cake, try Drummond's recipe. Bennett simply melted butter and chocolate, then mixed it with powdered sugar, eggs, vanilla, and flour.
She cooked them for 13 minutes to make a delicious hybrid of brownies and batter. She recommended serving it with ice cream.
Caramel-filled apple pie is perfect for Thanksgiving
Ree Drummond's apple pie was tasty and flaky.
Paige Bennett
Drummond's recipe for this pie has a long list of ingredients for each component: the crust, the filling, and the topping.
The crust was incredibly buttery and flaky, and the added spices in the crust kept it flavorful. Bennett found the softened apples contrasted perfectly with the crunchy topping.
The top fruit salads used surprising but refreshing ingredients
Both Guy Fieri's and Bobby Flay's fruit salads used mint.
Paige Bennett for Insider
Bennett tried several recipes for the summery salad and found she'd make Fieri's and Flay's recipes again.
The "Diners, Drive-Ins and Dives" host grills his fruit and adds in pound cake, toasted almonds, mint, and lemony whipped cream for a sweet and caramelized dessert.
Flay uses papayas, kiwis, mangos, pineapples, mint, and a ginger-lime simple syrup for a tropical take.
Ree Drummond's pecan pie was super crispy and caramelized on top.
Paige Bennett
Out of all the pecan pies, Bennett found Drummond's recipe to be the tastiest.
Drummond used pantry staples like brown sugar, salted butter, eggs, and pecans to whip up this deliciously warm pie. Although the dough was pebbly at first, the crust held up well after it baked.
The gooey center and caramelized pecans made this dessert stand out.
Whether you're looking for a refreshing cocktail or a warm mug of hot chocolate to end your day, we've tested iconic beverage recipes from multiple celebrity chefs.
To make boozy hot chocolate, you'll need vodka or liqueur
Sandra Lee's hot chocolate had the perfect blend of flavors.
Paige Bennett for Insider
Sandra Lee's boozy and hot chocolate uses simple ingredients like milk chocolate, half-and-half, cinnamon, and either vanilla vodka or hazelnut liqueur.
Bennett found this was the fastest recipe to make. She enjoyed the sweet and nutty flavor, which is perfect for winter.
Steep milk with spices to make a chai-filled milkshake
This milkshake was the perfect blend of spices and chocolate.
Paige Bennett for Insider
Anderson's chocolate-chai milkshake was Bennett's favorite of the bunch. She started by steeping milk with cinnamon, pumpkin-pie spice blend, nutmeg, cardamom, fennel seeds, and black peppercorns on the stove for 20 minutes.
The mixture was then strained into a cup and cooled in the fridge. Bennett loved the cinnamon flavor and thick texture of the beverage.
Geoffrey Zakarian's margarita recipe was a classic.
Paige Bennett for Insider
Geoffrey Zakarian uses lime juice, tequila, orange liqueur, and agave syrup to make a refreshing cocktail.
Bennett found the tartness from the lime juice, the sweetness from the agave, and the saltiness of the rim came together well without any single ingredient overwhelming the drink.
Garten's classic recipe had a short ingredient list that included Cabernet Sauvignon and a lot of apple cider.
It also called for honey, cinnamon sticks, orange zest and juice, and a bit of clove and star anise. Bennett had the wine ready in 10 minutes after it simmered in a pot.
It wasn't spicy and had a good balance of sweet honey and cider.
Add a spicy kick to your Bloody Mary with a jalapeño
Bobby Flay's Bloody Mary had a slight kick.
Paige Bennett for Insider
Flay's recipe for a spicy citrus beverage calls for plenty of lemon and lime. There's also a jalapeño involved, which Bennett worried would make the drink too spicy.
It took no time at all to muddle most of the ingredients then add in vodka, tomato juice, and Worcestershire sauce. The flavors worked well and balanced one another, and the cocktail had a nice twist from the pepper.
The ginger beer had a distinct enough taste for this drink to resemble a cocktail in Geoffrey Zakarian's recipe.
Paige Bennett for Insider
Although it took a little bit longer to come together than the rest, Zakarian's sparkling mocktail was still easy to make.
Bennett filled a cocktail shaker with ice, then added the fruit juices. She strained the mix into an ice-filled glass, leaving a bit of room at the top to pour in the ginger beer.
The pineapple and mango juices gave it a tropical flavor and sweetness that perfectly paired with the spicy ginger beer, which gave the mix a kick that resembled a real cocktail.
Ina Garten's recipe didn't have a garnish and Alton Brown's drink was tart and sweet.
Paige Bennett for Insider
Garten's cosmopolitan recipe makes a massive single serving. Bennett mixed vodka, orange liqueur, cranberry-juice cocktail, and some fresh lime juice together.
There was a nice balance of lime and cranberry to take some of the edge off the liquor. Brown's process was simple, aside from finding fresh cranberries. Bennett boiled sugar, cranberries, and water together until most of the cranberries burst open.
After blending everything in a food processor, she added it to a cocktail shaker filled with ice, vodka, and lime juice for a refreshing beverage.
Every single mimosa recipe was good enough to make again
The mimosa recipes from Bobby Flay, Pat and Gina Neely, Alex Guarnaschelli, and Rachael Ray were all great.
Paige Bennett for Insider
Bennett made mimosa recipes from Flay, Pat and Gina Neely, Guarnaschelli, and Ray.
Each recipe highlighted different flavors and garnishes in the simple cocktail. She had no complaints about any of these mimosas because all of them were fruity, sweet, bubbly, and refreshing.
The fruitiest white sangria only takes 15 minutes to make
Racheal Ray's drink is topped with club soda.
Paige Bennett for Insider
Ray's recipe calls for apple liquor and sparkling water, which Bennett respectively swapped for apple brandy and club soda, as well as dry white wine, sugar, and a variety of colorful fruits.
The recipe also calls for fresh, ripe peaches. This cocktail was light, and the varying colors of the fruit this option stand out.
Business Insider's creative team covered an array of projects this year. We brought our stories to life by incorporating animations, crafting bespoke multimedia experiences for our biggest stories, producing and commissioning hundreds of illustrations, and working with photographers around the globe.
Our visuals captured a wide range of topics, from looking into illegal lockouts in major US cities to Ozempic Scams.
We hired nearly 250 talented freelancers who helped bring our most compelling stories to life, producing over 1,500 pieces of custom art that enhanced our storytelling.
Here are some of our favorite visual creations from 2024.
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All eyes are watching to see whether the Federal Reserve will cut interest rates for the third time in a row this week, meaning the clock is ticking on the high interest rates on deposits that we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Wednesday, December 18.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
All eyes are watching to see whether the Federal Reserve will cut interest rates for the third time in a row this week, meaning the clock is ticking on the high interest rates for deposits that we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Tuesday, December 17.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
From Left: Cathy Engelbert, Leon Sinclair, Jensen Huang, Fei Fei Li, and Arthur Sadoun
Tom Williams/Getty Images; Greg Sandoval; Alyssa Powell/BI
Innovation and business go hand in hand — and that's constantly on enterprise leaders' minds, regardless of their industry.
Executives must understand how technological advancements, systemic barriers, and generational shifts are affecting their growth, then strategize accordingly.
Business Insider's annual list of people transforming business highlights these leaders who work in media, finance, technology, transportation, and labor.
The WNBA's first female commissioner, Cathy Engelbert, is spearheading a transformation in the sports sector with her focus on fan engagement and equity among players. In finance, Leon Sinclair is leveraging data and analytics to reshape the world of alternative investments at Preqin, where he's an executive vice president. Mike Hopkins, the head of Amazon's Prime Video and MGM Studios, is forging an ad-focused entertainment-business strategy that could redefine how content is made and consumed in the digital age.
Below, in alphabetical order by first name, are the 10 business leaders our reporters and editors credit with shaking up and remolding their industries.
Anna-Lisa Miller, executive director of the KKR-cofounded nonprofit Ownership Works
Ownership Works
Employers often say they prefer to hire employees who act like owners. As the executive director of the nonprofit Ownership Works, Miller aims to get employers to act on that ethos.
"It's not credible to ask employees to feel, think, and act like owners if you don't give them a financial ownership stake," Miller said.
Since its founding in 2021, Ownership Works and its corporate partners have shared $570 million in wealth across six companies and worked with more than 160,000 workers at 113 companies.
One way Miller seeks to convince business owners of the merits of employee shareholding is by showing them how it can improve the bottom line. She pointed to a time an employee in an Ownership Works company helped their employer save money by replacing a component costing $100 with a 3D printed part that cost just a few dollars.
"They often know where the company is losing money or making a mistake or where things could be better," Miller said. "And they often have ideas for how to fix the problem. It's just nobody ever asked them to."
Miller's career in employee ownership grew out of an interest in community development. Early in her career she helped a nonprofit in Hawaii create farming cooperatives, and she worked with another nonprofit to convert small businesses into worker cooperatives.
Miller said she wanted to find scale, so she approached Pete Stavros, KKR's cohead of private equity. Stavros first experimented with employee ownership at a garage-door manufacturer in 2015, leading to some of KKR's best results. He was looking to spread that model further.
After announcing the creation of Ownership Works with a $10 million donation, Stavros hired Miller as his first employee. Now it's her job to help the company's 25 private-equity partners, including KKR and Apollo, institute plans in their portfolios.
She does this in part by partnering with accountants, lawyers, and professional-services firms to make it easier to create these plans, acting as an employee-ownership consultancy. The organization also collects and shares metrics of success, such as hundreds of millions of dollars in grants to employees and decreasing turnover and higher profits at companies with employee ownership.
She's helping the nonprofit expand beyond private equity. Ownership Works recently worked with the cold-storage company Lineage to give $100 million in IPO proceeds to its employees and create a stock-ownership plan.
Miller believes that expanding employee ownership could significantly narrow the wealth gap and reduce financial insecurity.
Arthur Sadoun, CEO of Publicis Groupe
Publicis Groupe
Sadoun said he mostly received pushback when, in 2017, he told creative agencies that the future of creativity was commerce and AI.
"It's funny when you look at what happened now," Sadoun, the chief executive of the French advertising giant Publicis Groupe, told BI.
Back then, Sadoun faced a daunting task. He had just taken over as the third-ever leader of the 91-year-old company, home to the storied agencies Leo Burnett, Saatchi & Saatchi, and Publicis Conseil, which had created iconic advertising like the Marlboro Man, Tony the Tiger, and "Labour Isn't Working."
But Publicis was languishing behind its competitors having lost key clients like McDonald's. Financial growth was anemic.
Sadoun embarked on a plan to turn Publicis from a communications partner to a company that could help clients transform their businesses. He sought to break down silos between Publicis' various agencies and help them retool around a bet on "personalization at scale," advanced by the biggest acquisition in its history: the 2019 purchase of the data marketing firm Epsilon for $4.4 billion.
"The financial market did not like that," Sadoun said.
Neither did many of Publicis' own employees, particularly the Don Draper-esque creatives who were maddened that an outsize focus on data and programmatic ads meant the Parisian company would lose its je ne sais quoi. Competitors mocked Publicis' multimillion-dollar investment in creating an AI platform.
Sadoun and Publicis are having the last laugh.
At about $27 billion, Publicis' market capitalization is the largest of any individual advertising-agency holding company. It's forecast to end the year with the largest annual revenue, too, with the combination of its data and media offerings representing about half of its sales. While 2024 was a cause for celebration, it faces challenges ahead: This month, its rival Omnicom announced a deal to acquire Interpublic Group that would create the largest ad-agency network.
Sadoun credits his leadership team and employees for Publicis' turnaround. He has a more personal hope for his own legacy.
In 2022, Sadoun had an operation to remove a tumor in his neck that turned out to be cancerous. Unusually for the CEO of a public company, he disclosed his diagnosis before he underwent treatment: grueling rounds of chemo and radiotherapy that would affect the jet-setting executive's ability to travel. He was flooded with messages revealing that many people were hiding their chronic illnesses from their employers and colleagues.
The following year, Sadoun helped launch the Working with Cancer Pledge, which encourages companies to commit to offering more recovery-focused working environments. More than 600 companies have signed up, and the initiative was promoted with a splashy Super Bowl ad bought and created by Publicis last year.
"My one mission in life now, apart from my family, is to erase the stigma of cancer in the workplace," Sadoun said.
Cathy Engelbert, commissioner of the WNBA
WNBA
2024 was a transformative year for the WNBA. It said that attendance increased by nearly 50% year over year and that ratings on ESPN were up by 170% from last season, fueled in part by its rookie stars like Caitlin Clark and Angel Reese. Sponsorship deals have boomed, bringing in advertisers newer to the sports world like Bumble and Skims.
Presiding over its astronomical growth is Engelbert, a former Deloitte CEO who became the league's commissioner in 2019.
The league has been planting the seeds of its growth for a while. It gained attention by playing during the pandemic in a bubble. It raised $75 million from investors, allowing it to invest in marketing and fan engagement. And it landed sponsorships on its own, separate from the NBA. External factors like the rise of "name, image, and likeness" deals and social media also helped draw attention to the sport.
"The thing that was overlooked is that Rome wasn't built in a day," Engelbert told BI. "We didn't do this overnight." One emphasis was on improving the fan experience by meeting spectators where they were, such as updating the app to look more like TikTok, Engelbert said.
The WBNA is a big brand now, and with its growth has come scrutiny. Engelbert took heat when she didn't directly condemn threatening comments on social media toward players but likened the situation to a rivalry between male players in the 1970s. She later apologized, promising to do better.
"We've been debriefing around a lot of things that happened this year," Engelbert told BI, adding that the league was looking at beefing up security and mental-health resources. "The vitriol our players, me, we all get, we're going to try to tackle that multidimensionally."
Engelbert also wants to talk about the flip side.
"There's a huge negative to all the vitriol, but there's also people caring about the league like they haven't before," she said. "Apathy's the death of a brand, and there's no more apathy."
The WNBA, which is majority-owned by the NBA, remains unprofitable; several outlets described sources as saying it was on track to lose $40 million or more this season. The WNBA declined to comment.
Increased sponsorship and media rights will be crucial to keeping up the W's momentum and getting in the black. In a big start, the women's league recently struck an 11-year, $200 million media-rights deal, up from its current deal of $60 million a year. Engelbert also has her sights set on global expansion, starting with the WNBA getting its first Canadian franchise next year. Corporate sponsorships are catching up to the rise of women's sports. Engelbert is ready to capitalize, with stats to appeal to the bottom line.
"There's a little scratching and clawing to make sure the old view of the WNBA is not the current view," she said. "Our fans are actually likely to buy from you. So we say this is a good business decision for you."
Fei-Fei Li, cofounder and CEO of World Labs
Greg Sandoval/Business Insider
Almost 20 years ago, while she taught at Princeton, Li, known as the "godmother of AI," tested the hypothesis that everything humans could see could be categorized and labeled.
This idea built off her graduate research focused on object recognition. Li harnessed the power of crowdsourcing to pioneer ImageNet, a database of 15 million images that became the foundation of computer-vision and deep-learning research.
Li has continued advancing this research. This year, she and the leading AI researchers Justin Johnson, Christoph Lassner, and Ben Mildenhall launched World Labs, a startup that aims to take AI beyond large language models. It's valued at $1 billion.
With $230 million in funding from investors like Andreessen Horowitz, AMD Ventures, and Nvidia's NVentures, World Labs is seeking to explore AI applications in the two-dimensional plane of pixels and in 3D worlds with spatial intelligence. In December, World Labs dropped its first AI project: a tool designed to turn any image into a 3D model.
"Language is important but, as humans, much of our ability to understand and interact with the world is based on what we see," Li wrote in an op-ed article in The Economist in November.
She believes spatial intelligence — which can help with developing robots that look after older adults, or extra hands for a surgeon — is what truly human-centered AI will look like.
She's now a codirector of Stanford University's Institute for Human-Centered AI and serves as the Sequoia Capital professor of computer science at Stanford. Li has also worked as a vice president and chief scientist of AI and machine learning at Google Cloud.
Jensen Huang, CEO of Nvidia
Tom Williams/Getty Images; BI
Huang is becoming the stuff of legend.
He has a reputation as a genius, a visionary, and a workaholic. Bosses everywhere want to know his every theory of management to replicate even a fraction of his success. That's because Nvidia has gone from a niche tech firm to one of the most valuable companies in the world in a little more than two years.
After decades of toiling out of the limelight, providing the video-gaming industry with graphics chips to render complex, ever-changing imagery but not gaining much name recognition beyond it, Nvidia burst into broader consciousness in 2022, after ChatGPT came to the market. Word quickly spread that the company had for years been buying thousands of Nvidia graphics processing units — it turned out that the kind of computing they're best at is similar to the demands of artificial intelligence.
Huang actually donated OpenAI's first eight GPUs, delivering them himself. But Huang anticipated the connection between his chips and AI long before then — he just didn't know how it would materialize.
Huang, 61, was born in southwestern Taiwan. He studied electrical engineering at the University of Oregon and Stanford. He had a few jobs in the semiconductor industry, including at Nvidia's major competitor AMD, until he founded Nvidia at 30 with Chris Malachowsky and Curtis Priem.
Despite the recent spotlight on him now, Huang has staying power. He's one the longest-serving tech CEOs, with more than 30 years at the helm. In a recently published memoir, Morris Chang, the founder of Nvidia's most important supplier, Taiwan Semiconductor Manufacturing Company, described offering Huang the CEO job at TSMC.
Even now that Nvidia has a market capitalization of more than $3 trillion, Huang sees his work as far from finished.
"I watched Jensen make these kinds of bets that are far-reaching, where there's a lot of ambiguity as to when it's going to happen or not," Rev Lebaredian, a vice president of omniverse and simulation technology at Nvidia, told Business Insider this year. Huang is usually right. The journey to enter 2025 with hundreds of foundation models chasing ChatGPT started for Nvidia in about 2006.
Some investors still worry that when it comes to Nvidia, what goes up must come down. But investors also believe that if anyone can see or make the future, it's Huang.
Leon Sinclair, executive vice president of Preqin
Preqin
Sinclair, who grew up in the market town of Rugby in the middle of England, didn't picture a career in finance.
"We never really spoke about money around the dinner table or anything like that because there was never any of it," the 42-year-old told Business Insider in an interview.
Now Sinclair is helping demystify private markets and powering its growth through data.
With civil service in mind, he studied political science at Loughborough University and joined England's Department of Health shortly after graduating in 2004. But Sinclair, a competitive basketball and track athlete, quickly tired of the bureaucracy and craved a faster-paced work culture.
After six months, he left for a research-analyst position at Intercontinental Exchange, the operator of major stock exchanges like the New York Stock Exchange and clearinghouses. The finance novice was eager to catch up and learn as much as he could about debt products and subprime markets. He left in 2010 for the data provider Markit, well before the firm merged with IHS and was acquired by S&P Global.
Throughout his two-decade career he has maintained a sense of intellectual curiosity, describing himself as one of the most avid readers of industry news among his peers. Drawn to the complexity of private markets, he pivoted away from credit to build IHS Markit's private-equity and debt division. In 2023, he joined the private-markets-data powerhouse Preqin.
"You see some of the most innovative companies in the world, and you work with some of the most innovative funds in the world who are deploying capital into just really interesting spaces," he said.
Sinclair oversees how Preqin addresses the needs of fund managers, investment banks, and placement agents, representing some 3,000 front-office teams, trying to navigate the opaque industry of private markets. Preqin says the asset class has more than doubled to $16.8 trillion in assets under management over the past five years.Preqin's data can be used, for instance, to target limited partners for fundraising or create customized benchmarks to better convey performance to investors.
Private markets are becoming more transparent as providers like Preqin find ways to combine publicly available and proprietary data, Sinclair said. In June, his division launched a data tool to analyze deals across 6,500 funds. This aggregated data can be used to back up valuations in negotiations or identify which financial factors, such as revenue growth or debt pay-down, contributed the most value to a successful deal. The firm's insights are set to become more widely available, as BlackRock is set to acquire Preqin for $3.2 billion.
Sinclair said it's easier for individual investors to participate in private markets than ever before, pointing to the growth of data products and favorable regulatory developments. But he added that having options isn't the same as understanding them.
"There's a massive amount of education to do. Alternatives have a totally different vocabulary, a different way of thinking about performance, a different way of thinking about risks to the types of products," he said.
"I think there's also an obligation of the industry to build the right analytical tools, the right educational tools, datasets to bring the mass affluent along on that journey."
Marin Gjaja, CEO of Ford Model e
Ford Model e
The electric-vehicle market has experienced tremendous upheaval in the past year, and car companies are scrambling to understand today's EV buyers.
At Ford, Gjaja, the chief operating officer of the Model e electric division, is tasked with navigating the money-losing division through huge changes in demand and customer profiles.
After years of growth in the EV segment driven by wealthy early adopters, car companies face the challenge of selling these expensive and complex vehicles to more-regular customers.
Ford split its gas and electric divisions in 2022 in a bid to speed up EV development. The company's EV strategy has changed a few times since then, but Ford still breaks out its financial performance: So far in 2024, the Model e division has lost $3.6 billion.
In his operations role, Gjaja is trying to reverse those losses by working with Ford's dealers to improve customer experiences and perceptions. Before joining Ford in 2022, Gjaja was a senior partner at Boston Consulting Group, where he worked with clients in retail, technology, and automotive, among other industries.
He's putting those years of consulting experience to work as Ford tries to bridge the gap between the wealthy early adopters behind the initial success of vehicles like the Mustang Mach-E and the F-150 Lighting and the more-practical customers who more often leave the lot with a hybrid.
While higher prices have turned off some of these new EV shoppers, Gjaja said at an automotive conference in September that this cohort was considering a lot more than sticker price — including their distance from the nearest charger, the cost of charging, battery life, and resale values.
Gjaja argued that simply discounting electric cars wouldn't be enough to convince shoppers and certainly wouldn't solve Ford's profitability problem in its Model e division.
Instead of focusing on "functional economics," Gjaja said, he examines the "behavioral economics" of EV adoption. He said the journey from what he called an EV denier to a long-term convert could take up to three years.
"My job is to figure out how to sell and market a vehicle that people don't appreciate its value until they own it for three years," Gjaja said.
Mike Hopkins, head of Amazon's Prime Video and MGM Studios
Prime Video & Amazon MGM Studios
Amazon is a retail and cloud powerhouse, and thanks to Hopkins, it's become a media powerhouse, too.
Under Hopkins, Amazon now offers not just a wide variety of TV and films but some of the biggest sports franchises like the NFL and the NBA, and even news. Amazon spent $18.9 billion on video and music in 2023, up by 14% from 2022. According to the data firm Ampere Analysis, sports is a growing part of Amazon's entertainment outlay, accounting for 14.3% in 2024, up from virtually nothing five years ago.
Amazon's entertainment offerings help keep people subscribing to Prime, the free-delivery service that includes Prime Video and other benefits. But it's also becoming a moneymaker in its own right.
In January, Amazon shook up the streaming-ads market when it turned on ads in Prime Video, driving down ad prices for competitors like Netflix while giving Amazon a big shot at the $28.8 billion pie that EMARKETER has forecast will be spent on streaming-TV ads this year.
Morgan Stanley has estimated the move could bring in $3.3 billion in revenue this year, on top of Amazon's existing ad business, worth $47 billion in 2023. And with NFL and other streaming rights, Amazon is muscling in on traditional TV networks' turf and training viewers that it's the place to go for live sports. It's even dipped a toe in news, the last stronghold of traditional TV, with a Brian Williams-hosted election-night special.
Hopkins' hire in 2020, along with the NBC entertainment vet Jennifer Salke's two years earlier, was a big signal that Amazon was serious about establishing itself as a key player in entertainment.
Hopkins is a product of legacy and digital entertainment, having been the chairman of Sony Pictures Television and the CEO of Hulu. At Amazon, he oversaw the $8.5 billion acquisition of the film studio MGM and pushed the company's entertainment studio to expand into broader fare. Prime Video also makes money by fulfilling its promise of being a one-stop shop for viewers by selling subscriptions to other companies' apps like Max, Starz, and, in its most recent flex, Apple TV+.
Prime Video captured just 3.7% of TV viewing in November, well behind Netflix (7.7%) and YouTube (10.8%), per Nielsen. Despite some wins, like the popular show "The Boys" and the buzzy film "Saltburn," it has a way to go in becoming a consistent hit factory. Still, since most people don't pay for Prime Video as a stand-alone service, it doesn't have the churn problem that dogs other streamers.
As part of Amazon, Prime Video is also insulated from some of the financial pressures affecting other entertainment companies. Hopkins is still bringing financial discipline to bear, however.
Amazon cut hundreds of jobs across Prime Video and MGM Studios teams early in 2024. Hopkins recently told Bloomberg that the advertising ramp-up was a factor in pursuing NBA rights and that he expected Prime Video to be profitable "very soon."
Prathibha Varkey, president of Mayo Clinic Health System
Mayo Clinic Health System
Since 2021, Varkey has been the president of the Mayo Clinic Health System, a network of 16 community hospitals and 45 multispecialty clinics across more than three dozen communities in Minnesota and Wisconsin. The facilities serve rural areas where care can otherwise be difficult to access.
Varkey, who comes from a family of physicians, said her work focused on reaching patients without ready access to the sprawling Mayo Clinic campus in Rochester, Minnesota, and its world-renowned medical expertise.
Varkey told Business Insider that part of her focus was finding new ways to incorporate technology so that more people can obtain care and administrative burdens can be reduced. That includes using artificial intelligence to help with diagnosing conditions and using technology so that clinicians can manage complex chronic conditions virtually.
The efforts also include introducing a mobile clinic that can go where routine and preventive care is needed and even provide wireless internet access so patients can confer with specialists. The clinic, which travels across southern Minnesota, offers virtual or in-person appointments. It has two exam rooms and a laboratory.
"So now you have preventive exams, specialist visits that are occurring in very remote areas," she said.
Varkey said Mayo Clinic Health System was also trying to bring medical expertise to rural residents through programs that connect small local clinics with specialists from hub sites or from Mayo's Rochester campus. Small clinics, she said, might have only a single nurse practitioner — nothing like the variety of disciplines a larger facility would have.
"It's been very exciting to watch, and patients have really appreciated it as well," Varkey said.
Another effort to meet patients where they are is the organization's hospital-at-home program. Varkey said remote monitoring technology helped these patients remain with family and be more comfortable than they'd be in a medical facility.
"You get the same Mayo care," she said, adding that the approach had been popular with patients.
Varkey, who also holds an MBA from the University of Minnesota, returned to Mayo in 2021 after serving as the president and CEO of Yale New Haven Health Northeast Medical Group.
From 2001 to 2013, Varkey held leadership positions at the Mayo Clinic in Rochester, including associate chair of the Department of Medicine, medical director of Ask Mayo Clinic, and program director of the Preventive Medicine Fellowship.
Varkey said the expanding capabilities of AI and discoveries in genomics and molecular medicine were "taking healthcare to the next level — and very fast."
While those developments are exciting, Varkey said, they shouldn't distract from the primary goal of patient-centered care.
Ranjit Kapila, chief operating officer and copresident of Parametric
Parametric
Kapila likes to stay ahead of the game.
During the first 10 years of his career, the computer-science graduate completed four certifications each year while working as a tech consultant for firms like Nasdaq and Sallie Mae. While working at the hedge fund Citadel in the mid-2000s, he took MBA classes at night at Northwestern University.
"Everything in this field changes so quickly," he said. "Things change in finance and things change in tech at an ever increasing pace."
Now Kapila is a copresident and chief operating officer of Parametric, a pioneer of direct indexing with $570 billion in assets under management. He joined Parametric in 2019 after rising up the ranks at BlackRock, overseeing portfolio construction management for its widely used Aladdin platform. Kapila moved to a much smaller firm to have a bigger impact.
"It was an opportunity to kind of look at what Parametric has done well, think about how to build on the success, but then also take advantage of what's happening in the technology space and rethink how Parametric could operate, let's say, five years from that point," he said.
His move was well timed. There has been a boom in direct indexing, a tax-savvy investing strategy of buying individual securities modeled off an index like the S&P 500. Two years after Kapila joined Parametric, Morgan Stanley acquired Parametric's parent company, Eaton Vance. Thanks to a wave of similar acquisitions, Parametric faces well-capitalized competitors such as BlackRock's Aperio and Franklin Templeton's Canvas. Industry stalwarts like Fidelity and upstarts like Envestnet also want a piece of the action.
Kapila said Parametric, founded in 1987, has experience and scale on its side.
"I will say that given the technology trends, sometimes it's easy to come in and have a solution. It's much, much harder to have a scalable solution that will serve clients when the demand spikes," he said. "We're managing over 200,000 accounts for our clients. The level of scale, I think, often is a breaking point for some of the newer entrants."
To stay ahead of the competition, Kapila is pushing Parametric to develop more automated products, such as Radius, which launched this year. Radius constructs fixed-income and equity portfolios and runs simulations to identify the best selections for portfolio managers. Kapila described it as a "turning point" for Parametric.
"This is the first time we've had a product that's really end-to-end running in that automated platform manner with a person reviewing and approving and intervening as necessary," he said.
He plans to launch more cloud-native tools, which are easier to scale and manage, for other asset classes in 2025 and 2026.
Parametric is also bringing its tax-savvy strategies to active management, launching Custom Active this summer. Rather than modeling portfolios off indexes, clients can pick equities off strategies from its asset-management partner Lazard or sports-league sponsors.
"Those are examples where we can provide a tax overlay and help people get the advantages of direct indexing while managing to an active model," Kapila said.
"There's a demand for that, and it's early days," he added, "but I think that's really what's playing out."
Credits
Series Editor:Julia Naftulin Reporters:Lara O'Reilly, Lucia Moses, Nora Naughton, Alex Nicoll, Tim Paradis, Brittany Chang, Helen Li, Hayley Cuccinello, Emma Cosgrove Editors: Nathan McAlone, Graham Rapier, Julia Naftulin, Michelle Abrego, Kaja Whitehouse, Rosalie Chan, Monica Melton, Clementine Fletcher Art Direction and Photo Editing:Alyssa Powell, Isabel Fernandez-Pujol Copyeditors: Emma LeGault, Nick Siwek
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
The Federal Reserve cut rates in its last two meetings, meaning the clock is ticking on the high interest rates for deposits we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Monday, December 16.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
The Federal Reserve cut rates in its last two meetings, meaning the clock is ticking on the high interest rates for deposits we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Sunday, December 15.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
The Federal Reserve cut rates in its last two meetings, meaning the clock is ticking on the high interest rates for deposits we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Saturday, December 14.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
The Federal Reserve cut interest rates in its last two meetings, meaning the clock is ticking on the high rates for deposits we've come to expect. With rates rapidly changing, how can you know that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Friday, December 13.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
In its last two meetings, the Federal Reserve cut interest rates for the first time in four years, meaning the clock is ticking on the high interest rates on deposits that we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Wednesday, December 11.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
In its last two meetings, the Federal Reserve cut interest rates for the first time in four years, meaning the clock is ticking on the high interest rates for deposits that we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Tuesday, December 10.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
The Federal Reserve cut rates in its last two meetings, meaning the clock is ticking on the high interest rates for deposits we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Monday, December 9.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The biggest hedge funds are battling it out to attract and retain top talent and outperform peers.
Business Insider has talked to elite hedge funds to get a peek into their recruiting processes.
From internships to how they hire for tech, here's what we know about getting a job at a hedge fund.
The war for the best hedge fund talent cuts across all levels and positions. Firms like Citadel, Point72, D.E. Shaw, and Bridgewater are in constant competition for the best and brightest to help them gain an edge in the cutthroat industry.
These behemoth funds are now putting serious time and resources into recruiting for internship and training programs to create a steady employee pipeline.
Eye-popping pay, prestige, challenging work environments, and the promise of working with some of the best investors in the industry means there's a lot of competition for a spot at one of these firms.
The money is top-shelf, even for financial services jobs.
These funds, which have grown into behemoths, are now contributing serious time and resources to recruit for internship and training programs that could better guarantee them a steady employee pipeline.
Eye-popping pay, prestige, challenging work environments, and the promise of working with some of the best investors in the industry means they have a pretty attractive proposition to offer.
Business Insider has talked to some of the biggest hedge fund managers about how they attract talent, as well as ways to join their ranks and be successful at their firms. Here's everything we know.
Internships and fellowships
The opaque and secretive world of hedge funds might not necessarily be an obvious choice for many college graduates. Massive money managers are launching new programs to change that and attract young, diverse wunderkinder at earlier stages than before.
Citadel’s Johnna Shields with Justin Luo of the Citadel Associate Program.
Citadel
Internships have also become huge talent pipelines for some of the biggest multi-strategy hedge funds in the industry, which employ armies of traders and engineers. Programs are uber-competitive and harder to get into than many top Ivy League schools.
Typically, hedge funds acquire their investment talent after a few years of working at an investment bank. Increasingly though, the industry's top players are paying graduates to train through intensive programs that can lead to joining investment teams straight after college.
Hedge funds have long been competing with the finance industry and top tech companies for top technologists. Engineers and algorithm developers are key to helping researchers, data scientists, and traders develop cutting-edge investment strategies and platforms. Quant shop D.E. Shaw also has a unique approach to finding talent.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
The Federal Reserve cut rates in its last two meetings, meaning the clock is ticking on the high interest rates for deposits we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Sunday, December 8.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
The Japanese surprise attack on Pearl Harbor began at 7:48 a.m. on December 7, 1941.
The attack killed some 2,400 Americans and wounded many others, while sinking four battleships.
Photographs show the immediate aftermath of the attack that drew America into World War II.
December 7, 1941, began as a perfect Sunday morning for the troops serving the US fleet at Pearl Harbor.
Under a early morning South Pacific sun, softball teams were lining up on the beach. Pitchers warmed up their arms, while batting rosters were finalized and the wives and kids came over from seaside church services.
They did not know that for hours the Japanese naval fleet and air forces had been speeding across the ocean toward America's Pacific base. There, like a string of pearls draped across the docks and waterfront, was the majority of America's naval might.
The devastating Japanese onslaught began at 7:48 a.m., eventually killing 2,402 Americans and wounding many others, sinking four battleships and damaging many more.
The US promised never to forget this day of infamy. The attack spurred America into World War II, leading ultimately to Allied victory over the Japanese in the East and Nazis and other Axis powers in the West.
Amanda Macias and Kamelia Angelova contributed to an earlier version of this story.
On the morning of December 7, 1941, an attack planned by Adm. Isoroku Yamamoto to demobilize the US Navy was carried out.
One of more than 180 planes used in the attack.
AP
Around 7 a.m., an Army radar operator spotted the first wave of the Japanese planes. The officers who received these reports did not consider them significant enough to take action.
An aerial view of Battleship Row in the opening moments of the raid.
US Navy
The Japanese hit most of the US ships in Oahu before 9 a.m.
A Japanese plane flying over Pearl Harbor as black smoke rises from the area.
AP
The Japanese also took the opportunity to attack military airfields while bombing the fleet in Pearl Harbor. The purpose of these simultaneous attacks was to destroy American planes before they could respond.
A naval air station airfield.
US Navy
More than 90 ships were anchored at Pearl Harbor. The primary targets were the eight battleships in Battleship Row.
Battleship Row during the attack.
US Navy
The USS West Virginia, left, was one of the battleships to sink during the attack. The Japanese successfully damaged all eight.
The West Virginia and the USS Tennessee.
US Navy
At about 8:10 a.m., the USS Arizona exploded as a bomb ignited its forward ammunition magazine. About half of the total number of Americans killed that day were on this ship.
Explosions during the attack.
US Navy
Here's another picture of the USS Arizona sinking.
The USS Arizona sinking.
AP
The USS Shaw, a destroyer, also exploded during the two-hour attack by Japan.
The USS Shaw was also hit.
US Navy
The damaged USS Nevada tried to escape to open sea but became a target during the second wave of 170 Japanese planes, hoping to sink it and block the narrow entrance to Pearl Harbor. The ship was grounded with 60 killed on board.
USS Nevada.
National Archives and Records Administration
A Japanese plane hit by American naval antiaircraft fire was engulfed in flames. Fewer than 30 Japanese planes were lost in the attack.
A Japanese plane on fire.
AP
About 190 US planes were destroyed, and another 159 were damaged.
Hickam Field near Pearl Harbor.
AP
Sailors at the Naval Air Station in Kaneohe, Hawaii, attempted to salvage a burning PBY Catalina in the aftermath of the Japanese attack on Pearl Harbor.
PBY Catalina, an amphibious aircraft.
US Navy
People in New York's Times Square bought newspapers with headlines like this one, "Japs Attack US." The US entered World War II after the surprise attack.
News soon reached the East Coast.
AP
Salvage work soon began on the destroyers USS Cassin and USS Downes. The Japanese failed to damage any US aircraft carriers, which weren't in the harbor.
Damage from the attack.
US Navy
About 10% of Japanese planes were lost on December 7, 1941.
A Japanese torpedo plane was hoisted from the bottom of the sea.
AP
The USS Oklahoma was considered too old to be worth repairing.
One of the Oklahoma's propellers peeking out from the water.
US Navy
Here, a Marine holds a piece of shrapnel removed from his arm after the attack.
More than 1,100 service members were wounded.
US Marine Corps
Sailors participated in a memorial service for the more than 2,400 Americans killed in the attack.
The attack killed some 2,400 Americans and wounded many others.
The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.
The Federal Reserve cut rates in its last two meetings, meaning the clock is ticking on the high interest rates for deposits we've come to expect. With rates rapidly changing, how can you be sure that you're getting the best interest rate?
We monitor rates from banks and credit unions daily to help you feel confident before you open a new account — and now could be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Saturday, December 7.
About High-Yield Accounts
High-yield savings accounts aren't the only accounts paying favorable rates right now. You'll typically see the highest rates at online or lower-profile institutions rather than national brands with a significant brick-and-mortar presence. This is normal; online banks have lower overhead costs and are willing to pay high rates to attract new customers.
High-Yield Savings Accounts
The best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. Savings accounts are held at a bank or credit union — not invested through a brokerage account — and are best for saving cash in pursuit of shorter-term goals, like a vacation or big purchase.
High-Yield Checking Accounts
The best high-yield checking accounts tend to pay slightly lower rates than high-yield savings, but even they are strong in today's rate environment. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. If you transfer money to pay a bill, you typically do it from a checking account. Checking accounts are used for everyday spending and usually come with checks and/or debit cards to make that easy.
Money Market Accounts
The best money market accounts could be considered a middle ground between checking and savings: They are used for saving money but typically provide easy access to your account through checks or a debit card. They usually offer a tiered interest rate depending on your balance.
Cash Management Accounts
A cash management account is also like a savings/checking hybrid. You'll generally see them offered by online banks, and, unlike a checking account, they usually offer unlimited transfers. A savings account often limits the number of monthly transfers, while a checking account doesn't. Cash management accounts typically come with a debit card for easy access, but you may have to pay a fee if you want to deposit cash.
Certificates of Deposit
The best CD rates may outpace any of the other accounts we've described above. That's because a certificate of deposit requires you to "lock in" your money for a predetermined amount of time ranging from three months to five years. To retrieve it before then, you'll pay a penalty (unless you opt for one of the best no-penalty CDs). The longer you'll let the bank hold your money, the higher rate you'll get. CD rates aren't variable; the rate you get upon depositing your money is the rate you'll get for the length of your term.
About CD Terms
Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.
No-Penalty CDs
Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.
6-Month CDs
The best 6-month CDs are offering interest rates in the mid-5% range. Six-month CDs are best for those who are looking for elevated rates on their savings for short-term gains, but are uncomfortable having limited access to their cash in the long term. These can be a good option for those who may just be getting started with saving, or who don't have a large emergency fund for unexpected expenses.
1-Year CDs
The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. A 1-year term can be an attractive option for someone building a CD ladder, or for someone who has a reasonable cash safety net but is still concerned about long-term expenses.
2-Year CDs
The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates. In exchange for a longer lock-in period, investors receive a long-term commitment for a specific rate. These are best used as part of a CD ladder strategy, or for those worried about a declining rate market in the foreseeable future.
3-Year CDs
The best 3-year CDs tend to have rates that are comparable to 2-year CDs. These are usually less popular for your average investor, but can be an important lever when diversifying investments and hedging against the risk of unfavorable rate markets in the long term.
5-Year CDs
The best 5-year CDs will offer lower rates than the other terms on our list, but are still popular options for investors. These CDs are best for those looking to lock in high rates for the long term. CDs are generally viewed as safe investment vehicles, and securing a favorable rate can yield considerable earnings in year three and beyond — even if rates fall elsewhere.
