Hey guys, I was wondering if any other incoming 2020 SA has had trouble with the onboarding process. For starters, I still cannot access my onboarding forms. HR contact said there was an internal issue and they'd get back to us as soon as it's resolved, but I haven't heard anything for about two weeks. Starting date is not affected since this is an internal issue.
Aside from onboarding - For those who will be working in a different city, how are you dealing with housing? I don't think I'll be securing housing until mid-April as we still have yet to see how the virus plays out. Would it be a good idea to reach out to HR for help finding university housing, or should I do this on my own?
Bump
https://www.wallstreetoasis.com/forums/megalist-changes-to-nyc-2020-sa
Curious on this as well
baml apac onboarding completed
Onboarding forms, or the entire process including background check + fingerprint appointment?
submitted all requested docs
not sure if background check is completed will they tell you when it is? also not sure what you mean by fingerprint
processes here might be different than in the US
Onboarding forms in. Waiting to hear on background check + fingerprints.
which location?
Chicago
How long did the background check take for you? Also have some onboarding delays
Anyone heard anything about possible virtual internship?
no word on that yet - apac
we're being ensured a "robust and quality experience"
What is APAC
BAML? It's just Bank of America, not Merill Lynch anymore.
MS by "Incoming IBD Summer at BAML" LOL
You might have gotten MS becuase I believe Merril Lynch houses the IBD division. If you search up bankers at "BAML" on Linkedin, all of them use the company "Bank of America Merril Lynch," not just "Bank of America."
WHy not both?
Anyone know if a drug test is included in the onboarding process
From what I’ve heard through the grapevine, no. But, I wouldn’t bet my future on rumors
Alright we gotta know this now... Anyone??
I’ve gone through all of the on boarding process and I didn’t have a drug test
Did anyone get the follow up email about finger printing stations? Still haven’t gotten anything...
no
Received the new email today (1st April) but no, I have not received anything about the background check and fingerprinting appointment.
HR just sent an email. Internships are secure, we will be paid beginning on our start date. Don’t know what onboarding/internship will look like yet.
what location?
^ this is true just got it
just received as well
BAML is a homie
agree - they've been pretty on the ball through this shitshow
Yet they still use COBOL.....LMFAO. And who the fuck uses COBOL nowadays? And too bad they are not profitable enough to update their system to the 21st century.
Is BAML paid a weekly prorated salary or are they paid hourly? If other banks follow suit and pay hourly, how do you think they will do this?
Baml is paying hourly
BAML pays a prorated salary for internships with 1.5x OT pay at an hourly rate.
Is OT payment in the employment contract?
Got the email today too :)
Did the email only go out to interns in the USA? Any news from those in Canada?
apac as well
Emea too
Any news on London SA?
I am working on that bank.
HR is not sure about the internship, neither if its going to happen in-site, WFH or if they are delaying / cancelling. They have no idea due to the late outbreak.
Any clue if there is even consideration of a Citi/Moelis sort of deal?
Probably will be a few weeks longer. Internships in London usually don’t start until late June, whereas in the US internships start in the first or second week of June
People already bought their housing. College dorms aren't going to extend their rooming timeline unless school itself is delayed or cancelled for the fall.
Were you guys talking about not being able to download two onboarding forms in order to complete the process? -I had gotten that email saying that the portal was broken, but I was able to still download them
Also, that email this morning was the highlight of my month
Same! That email made my entire April.
Yes, I was talking about the two onboarding forms. How were you able to download them?
I for some reason was just able to download. PM me and I can send them.
Anyone have their placement day today? If so how did it go for you? was pretty hard for me
What do u mean hard?
I was placed into the group I interviewed with immediately when I got my offer a couple of months ago
https://www.wallstreetoasis.com/forums/placement-sell-day-what-the-hell…
what group?
which groups did you interview with?
Did anyone not do a placement day and only interview/get offered with one office?
Anyone receive the survey they said they were going to send out
not yet - they said we'd get it at the end of the week though...
just got the survey, they were asking when the fall term is going to commence and if our current school term has been affected / extended and also if we have internet-enabled hardware
Same. I would be supposed if they didn’t offer laptops because of security/software issues. I assume most students are on MacBooks too.
Saw that Citi gave out offers.
The absolute dream lol time to refresh my email every 2 minutes
Thats what I've been doing too lmao
Lol same
Wait full time offers for after graduation?? Omg I pray
does anyone know when BAML is planning to give their next update. probably sometime this week right ? let’s hope for FT offers
The recent survey on the 6th was due on the 10th (last Friday). I’d suspect they’re going to make a portion of the internship virtual given the questions they asked. They’re probably in the process of analysing the data and thinking about next steps forward.
The more I think about it I’m not expecting any FT offers unfortunately. Are you in London?
No, NYC. I assume you are london ? and what is your reasoning behind thinking no FT offers ?
I do think it was a good sign that Citi gave out FT to its primary offices. Maybe something comparable will happen.
fingers crossed! let's hope we get something good :)
Have you guys all found housing yet?
Nope. Are you London? It defo looks like they'd reimburse any arrangements you've made. Almost certain its going to be at least partially virtual
No, I'm in the US. I was in the process of looking, and then this all went down, and I decided to just hold off for now. I'm debating if I should be actively looking right now or not.
I’ve noticed that BAML usually sends emails on Wednesday. hopefully we get one tmr with the update we have all been waiting for. let’s pray
lmfao that’s the type of attention to detail we need. there. we. fucking. go
My GCIB mentor just reached out. Mentioned a shifted timeline. likely will get an update within the next two days.
HAHA I knew that FT offers are not automatically on the table of BAML.
why you so mean about it
Gotcha did he mention anything about FT offers
did he mention anything about FT offers? Or how Citi did them?
No mention of offer conversion. The email was more for checking in and assurance for a quality program vs updates from recruiting. They’re in a coverage group not HR.
Reply and casually joke/finesse whether there's any chance that BofA will pull a Citi/Moelis? This is the type of super advanced situational judgement test question you will encounter in life xd
well just happy at this point to receive any communication from them haha
On a separate note, has anyone not received a GCIB mentor as yet?
Yes I have not. Im NYC, not sure if we were supposed to receive one
I’m NYC in CIB. Maybe it’s for sophomores only?
I have not received a mentor yet, but my office did its own recruiting process completely separate from HQ, so I'm just assuming we're not having them
Hope for the Best!! I believe they will treat us well.
Deleted
bruh
Waiting for tomorrow's comments: "Do you think the xx% decrease in profits in Q1 will affect FT conversion rates???"
Anyone get assignments for fingerprinting or hear any follow-up since we submitted those political contribution/employment history forms? pretty paranoid about missing that email or an onboarding step...
Edit : aside from the online training program update
nah I haven’t,
No, I haven't received any fingerprinting instructions. Check my email and junk email everyday.
is it just me or do most of the baml emails go straight to junk
my offer letter went to my junk... thought i hallucinated the offer call
I received an email for fingerprinting 8 days ago and got it done today
In the U.S?
For anyone that’s interning in BofA London - could I check how far you are in the on boarding process? I’ve submitted the health questionnaire about a month ago with the hire right thing but haven’t heard since. I’m not a spring convert
Same position as you (and I am a Spring convert); been receiving update emails and received my DBS, so I think it has all gone through.
DBS? What was that?
Not a spring convert, heard nothing as of yet!
DBS is the criminal record check.
Just talked to my Mentor and he said the consensus at BAML seems to be that FT decisions will be still made at the end of the internship and that they have plans on how to assess the interns although its virtual...
That sucks damn, I really hoped for the FT
Deleted
you need them more than they need you
To clarify, did he confirm that it’s virtual?
Lol....you do realize that banks generally have really poor tech infrastructure, right? After all, isn’t Capital One the only bank at this point that runs on Java? All the other banks use COBOL..... LMFAO. I mean, who the fuck still uses COBOL
Quarterly earnings call seems good actually.
i think EPS missed by 20c against consensus of 60c - that said, looking at the press release, fees are up 10%
could be encouraging idk
You should take one thing into account BAML London usually hires 50 for summer, this year it has 15-20 off cycles (much bigger class than notmal, two times bigger). Most of the off cycles will get an offer as they have 6 months to prove what they are worth and learm from their mistakew, which leaves SA2020 with less seats for 2021 promotion.
Before it used to have less off cycles and they used to join the same year after the off cycle, which is not going to be the case this year.
Then include that classes will shrink as BAML was increasing size due to a very strong pipeline. Now take all of this into account and try to understand that FT conversion rate is not going to be 100% and will be lower than in other years unless covid19 effect lowers and M&A comes strong again.
Nevertheless those at DCM at BAML you are lucky the market share its gaining is incredible its doing way too good so you will get a lot of exposure and there will be good headcount, more than usual.
Yeah I also heard from a friend that this years off cycle class was the biggest at BAML in a long time and that all of them are about to get the offer.
Not all of them will receive it, but most of which I worked with are pretty good, you wouldnt know if they are analysts or interns if you saw them working.
Thats also cause most of them worked at other banks and many have more than 6-8m of experience which gives them an edge
Also I would like to add. I believe the person above who spoke with his mentor is not from US. Possibly London. I think that this is true bc i have not heard of any U.S interns getting mentors as group placement is not even finalized. So, hopefully there is still a chance. A good point made above was that London interns have 6 months to prove themselves. Where as U.S intern will most likely have 5 weeks...
BofA London has not been allocated group placement nor a mentor - in fact, the person mentioned he was in the U.S.
Additionally, I don't think you understand what the poster was talking about. There are two types of internships - Summer Interns and Off-Cycle interns. Summer Internships are a standard 10 weeks. Off-Cycles are for people who are on gap-years or recent graduates etc who intern for 3-6 months. The vast, vast majority of interns at BofA are summer interns, not off-cycles.
APAC interns haven't received any information about mentors either.
apac hasn't received any updates since the survey....
are you sg/hk?
I am a US intern and have already received a senior mentor btw!
how? what division and did HR assign you ?
Guys I think we will receive the Ft offer for sure :) we just need to think very positively.. Why shouldn't BAML do the same like Citi? It does not make sense to me!! So LETS GOO!
no
when do people think we are gonna get an update
doesn't seem like it's gonna be this week by the look of it...
why
My friend is interning in a different division of BofA in NYC (I’m in IBD in NYC) and she emailed HR on Monday. Her HR told her they will hear an update by end of week. So looking like we will hear something tomorrow
alright guys it’s time
Not to kill your deams but looks like it’s not gonna happen like it did at citi. BoA expanded aggressively over the last few years and didn’t take the more cautious stance that other banks did with headcount (ie JPM/Citi).
still nothing yet
would be later in the
HR sent an internal memo saying that they still dont know the headcount for 2021 so very unlikely that automatic offers are given
thanks for the information
would this be for NYC or all offices?
I think only people from London where on CC no idea about NY.
Anyways they said that they are taking a global approach on all of their decisions, so there is no discrimination. Would take it wil a grain of salt tho, as until yesterday they didnt decide if they wanted to keep hiring freeze for 2020 or not...
Has anyone not heard from their mentor?
I haven’t got one as yet. IBD NYC here. Wish I had someone on the inside to talk to haha
Okay good to know. Also NYC and haven't heard either
Also IBD NYC and haven’t heard anything about a mentor
I spoke to a VP yesterday and they said that mentors usually reach out until right before the start of the internship.
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