https://blog.coinbase.com/update-on-hiring-plans-…
My LinkedIn is filled with recent graduates who were expecting to start these next few weeks. A lot of them are international students who are dependent on work visas. Really sad situation.
Coinbase sent an email 2 weeks ago saying that they would not rescind offers, and then do this. Here’s a link to those emails: https://twitter.com/teamblind/status/153276973539…
| +330 | Return Rates For Interns Are Falling? | 139 | 1h |
| +148 | Article: Why UBS's Asian M&A bankers are thriving and UBS's American M&A bankers are not | 17 | 1h |
| +132 | Evercore > Goldman and I don’t think it’s particularly close anymore | 53 | 1h |
| +123 | I am a drunk MD AMA | 40 | 1d |
| +86 | UBS Offer Day | 30 | 17h |
| +66 | I hate Wells Fargo | 19 | 3h |
| +57 | An Outsider’s View of RX Banking Out of College | 6 | 6d |
| +51 | Santander IB? | 10 | 2d |
| +49 | No return offer - feeling like a failure is an understatement | 19 | 12h |
| +43 | WF Return offers | 28 | 1d |
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Tesla also laying off 10% of their workforce. Wonder if this'll hit the financial industry...
I heard that it is not only Coinbase doing layoffs - Carvana and other tech companies that bloomed during this bull run are facing layoffs right now.
IB SA23, sweating rn
Same. Might have to slowly update resume and brush up interviewing skills in the coming months
Whole year left before your internship, imagine how SA 2022s feel for return offers. Stop sweating
Don't even worry about this... 2023 is a long time away. Banks are in a VERY different position than high-growth startups who've spent the last 10 years getting money on little merit. Banks have a ridiculous amount of cash on hand for regulatory requirements, and IB is a stable and high revenue area. Add in the last year and a half long shortage of IB workers, and you are totally fine
For some perspective, 2020 was a total shit show, immediately before the internship, and every BB, EB, and MM kept offers. Just 1 low tier regional boutique (I honestly forget the name) rescinded offers
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