Hi guys, I have thought it could be useful for all of us to have a thread in which we can share our updates about the current situation, both official updates received by the banks of our SA Programmes or from other relevant sources (i.e. professionals already working in IB).
Thank you in advance for your contribution!
| +138 | UBS Catastrophic Q1-Q3 26, M&A -17%, Outside Top 10 in Americas, EMEA & APAC | 38 | 1h |
| +60 | PWP acquisition by Piper cancelled | 23 | 3h |
| +46 | No return offer - UPDATE. | 12 | 58m |
| +29 | Evercore poaches Baird DC Defense Team | 18 | 21h |
| +22 | Best Houston Banks for Culture in 2026 | 15 | 41m |
| +21 | Normal for lateral process to go +2 months? | 4 | 1d |
| +18 | Lack of talent in IB! | 19 | 9h |
| +17 | Internal lateral from coverage to M&A (focused on coverage) | 4 | 22h |
| +15 | How standard is weekend work in IBD? | 7 | 4h |
| +15 | Discussion Transaction Experience in Lateral Interviews | 3 | 3d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
There's several other threads with this but they became bloated with off-topic nonsense. This will do.
I've seen those threads too. This one is created to collect only relevant updates on a daily basis, that's why I haven't asked for personal opinions that would potentially bloat it with off-topic nonsense. We can all make an effort to avoid it.
Banks are concluding their Spring programmes right now, so HR still focused on these ones. Heard Arma Partners interns have been furloughed until September.
Im assuming this is for European offices only. What about NYC and CA since it's not like interns can easily do off cycle internships.
Yes just for EU offices, sorry for not having specified. Idk about US ones at the moment.
SA Toronto - Postponed
Did they postpone to July since Toronto cancelled public gatherings through June 30th?
yes most likely
which bank?
bank, group, new date?
bump
Canadian Bank or US bank w To office? Any other details?
which one?
SA SF - Postponed from late May to late June
Is this a MM/BB/EB?
MM
Not related to IB but Accenture moved to remote internship.
I cant say without giving to much info away, but all interns at this bank both fo & bo were told that 2 month internships starting July might happen.
Is this a US bank? Located in NYC?
Toronto office only as far as I know right now
Got off phone with MD couple days ago at BB who is in charge of analyst staffing and according to him there is an extremely high likelihood of virtual internship this summer and no shot people are gonna be in the office by June.
location? division? and what BB if you are willing to say? did he give any details on how this may be possible?
NYC euro bank and all divisions. Idk anything else everything is hearsay at this point and no one really knows anything for certain but anyone could tell you that’s the most likely scenario.
Any clue whether all BBs will follow suit with each other or will every BB make their own decision regarding whether to cancel/virtualize the internship?
In my opinion, I think that all banks will follow each other especially BBs that compete for candidates. It would look very bad on one bank if all BBs had virtual internships except for one that canceled. Hopefully this is the case
All BBs, EBs, and major MMs will very likely follow each other for sure. In regards to both pay and whether it's in-person or virtual. I think with BoFAs first move to guarantee pay that means most banks will as well. SA pay is pennies for them anyway.
This may very well happen, but it seems a bit premature to say it's very likely when we're still two months out.
They didn’t say that it will definitely be in person, just that it is secure which still leaves the option of remote internship.
Received an update on IB division, BB, NYC. Start date may be delayed, but program will happen with pay starting from original start date.
Anyone has info about SA in London?
Haven’t heard official communications from BBs, EBs and MMs in London at the moment. Does anyone have any updates?
Probably will be a few weeks longer. Internships in London usually don't start until late June and in some cases basically the first week of July, whereas in the US they usually start in the first or second week of June.
HR at my BB hasn’t made a decision yet
BB London - no changes
Haven’t received any email yet - EB London
No changes at the moment, all banks are concluding their respective spring weeks
I'm not a BoFA SA, but I just want to say props to them for stepping up and taking the first move here. This will likely cause the rest of the street to follow likewise. Shows good on their culture.
What this first move is and where?
Had a few offers on the table from multiple BBs. Picked BofA because I was extremely impressed by their culture. That decision seems to really be paying off now
Directly from Bank of America: “We would like to reinforce your job is secure, and you will be paid beginning on your currently scheduled start date (June, 2020).”
Thank you, is this only for US or also EU?
This e-mail refers to US only.
Probably same measures will be taken in EU too
Capital one all divisions including capital markets has gone full remote with pay!
Remote internships could lead to a training extension and less work? I am worried about that option
My BB (GS/MS/JP) just sent out an email delaying starts to July, with a virtual program in the works if stuff isn't better by then. They're compensating from the original date & providing the housing stipend still, like BAML did.
edit: Looks like it's firmwide for all interns.
Is this for IB or what division ?
I am in IB, but it looks like the email was addressing all interns. An IB virtual internship would be hectic/chaotic/etc without any guidance haha
The bank is JP Morgan. Not sure why we have to hide which bank when it’s a firm wide email to all 150+ interns
lol true.. so weird
Yup it was JPM -- not sure why I hid it either, habit I guess
Sed nobis ab repellendus id iste ea laudantium ut. Pariatur et aut odio facere modi. Id velit distinctio nostrum et non veniam. Autem voluptatum dolor velit vel explicabo illo eaque. Et ut quaerat cumque quo rerum. Veniam qui iusto illum adipisci quo sunt.
Iure in est suscipit natus fuga quasi molestias eius. Dolorem aliquam laudantium rerum eum reprehenderit. Neque qui magni molestiae et soluta id laborum.
Reprehenderit hic enim odio quia eum ea quo. Et vel placeat corporis maxime nisi qui. Sint temporibus voluptate reprehenderit corporis. Rerum et sit aut reiciendis. Modi quam hic eius impedit natus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Aperiam inventore quia doloribus quam omnis. Fugiat illo et et. Consequatur quasi ipsum natus omnis enim ut. Atque officia molestiae blanditiis est doloremque modi sit. Libero dignissimos eos quos tempore hic debitis ad.
Impedit delectus ea accusantium aut quaerat omnis autem. In ducimus et nostrum doloribus. Sint et ab quo minima aut nihil impedit. Atque in qui dolor nihil. Consectetur qui optio et sunt sed consequatur. Quo similique autem dolorem eligendi.
Illum rerum quia tempora est nisi. Aut cum minima eius non illum accusantium aut. Doloribus doloremque ut blanditiis tempore qui iusto. Nihil asperiores veniam eveniet odit nihil voluptatem. Sed magni dicta est animi. Cupiditate labore enim distinctio aut fuga voluptatem.
Corporis omnis aut provident facilis. Et natus recusandae illum aliquam. Quam sed quo quod facere fuga cupiditate. Consequatur cumque illum vel. Cum omnis nemo earum delectus cupiditate in. Labore earum rem et magni quod voluptas in.
Et similique optio omnis delectus est fugiat. In inventore est sapiente aut laborum. Voluptatem sint est accusamus ex.
Consequatur sed voluptatem totam autem. Blanditiis tempore et deleniti qui. Earum qui dolore unde officiis. Odio cumque harum aut voluptas voluptate.
Nam et tenetur et adipisci. Eum suscipit qui earum minus quam cumque molestias aut. Quia in facere aspernatur necessitatibus repellendus omnis.