Competing with a friend for return offer

Both my friend and I are doing summer at the same buyside firm. I feel kinda awkward working together with him knowing that only one of us will get the return offer (as articulated to me by the analyst). It makes it even worse that we are on pretty good terms and now we got to try to outshine each other. How should I handle this situation during our internship? Any do's and don'ts? 

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