Deutsche Bank has yet to give a SINGLE UPDATE for SA 2020
All the other banks are making changes, and if not changes, at least emails of assurance. And these fuckers haven't sent out a single email regarding ANYTHING. Pissing me off.
Sounds like DB...
They can't give you assurance, that's why.
Incoming DB SA here. I've had a few calls with HR recently but no proper reassurance yet. What I got from the call is that it is unlikely that a proper in person internship will happen (not really a surprise) and that they are talking with other BBs to decide the best outcome. We should be getting more information either next week or the week after, for now there is not much that we can do. I'd like to think that it is more likely than not than the internship will go ahead but through a shortened virtual program.
DB = Dumb Biatches
Are you implying DB is not a well run organization?? I certainly cant wrap my head around that.
What did you expect from signing with DB? We're not just memeing or whatever. When people say they would rather pick an upper-MM like JEF/HL over DB quit flinging MS.
relax, literally no foreign bank has said anything yet lol
financially, is Db doing fine during this?
No they are not, but at least not as bad a situation as UBS IBD.
"hey other intern, in your expert opinion will other interns do?"
lol
UBS just beat Q1 estimates on profit today by $350mm so I think you should pick a different bank to make yourself feel better about. DB wasn't going to turn a profit this year even without Corona.
To those wondering, the message was
"During this unprecedented time, we want to let you know that we are thinking of you and hope that you, your family and friends are staying safe and well. Since we last communicated on March 20, our organization has transitioned to working remotely, in response to the COVID-19 pandemic and understand your college life has changed as well. We find ourselves adjusting to a new normal, with a continued focus on the safety and well-being of our employees, including our interns. As previously mentioned, we continue to monitor the impact of this health crisis and any potential impact it will have on planning for our 2020 internship programs. As we continue to explore options, we will keep you updated as we make decisions. For now, we have decided to pause any desk placement processes until we have finalized our approach for this summer. In addition, given the increased spread of coronavirus cases across the US and implications on travel businesses, including short-term rentals, we have decided to pause travel reservations for the intern program. If you contacted our travel desk, you will be notified that your reservation will be placed on hold. We also ask that you refrain from booking any accommodations for your internship. We will update you as soon as possible regarding any future decisions and thank you in advance for your patience at this time.
In the interim, please know our graduate recruitment team is here for you and available for any questions or specific concerns.
Stay safe and we will be in touch soon."
flawed logic. What do they gain by that? A good reputation with their current SA class? In my opinion many banks will do the virtual internship with some kind of project and then give out offers. They have nothing to lose by doing that and no need to rush from their side. And no just because 2 banks have done it, this doesn't pressure the banks at all (because why should it? Who would hold them accountable if they do not follow?)
not flawed logic, makes perfect sense. the biggest thing for db is obtaining and retaining top talent. they still have strong programs and need to bring in new classes, so unless they’re going to fail in the next year SA should be fine. and most banks do follow suit to other ones
Bro you should probably just not take the job since you dislike them so much
And you should probably go to hell
I mean Barclays hasnt said anything either. Why's only DB getting shit on so much
just got off the phone with hr, they have confirmed that the program will be for sure happening. whether the program will have a delayed start or be totally virtual is still up in the air, but the internship program this summer will not be cancelled.
posting this again from the other DB thread:
Just got off a long call with HR (APAC). They're finalizing things and most likely we'll hear by end of week/next week. Indicated that it's very likely we'll have late start + virtual internship and changes to "assessment for graduate opportunities" (obvs didn't go into detail but I suppose that means there wil be more interviews/projects after the summer/end of summer to access who gets a return offer? HR also said summer interns "will be prioritized for 2021 hiring" - sounds like auto FT is off the table? :/ ). Also mentioned possibility of a Plan A + Plan B. Whatever decision they make will most likely be implemented globally, and that things are changing so rapidly that they want to remain "flexible".
It's not (just) about the money. I'm sure a couple thousand dollars more per intern is spare change for a BB like Deutsche, but them being frugual and thrifty gives us the impression that we're not valued in the eyes of management. Sure, they don't have a contractual obligation to pay us in full, but when more than half the street (in fact almost all BBs) are doing so, you can't help but feel a little shortchanged - nothing to do with entitlement or being spoiled
For sure I agree that in terms of reputation to give just 4 weeks of pay to interns is not the best option. However, I strongly feel that they made the right choice, considering that the bank is undergoing a restructuring and some people lost their jobs. It's also a way to respect those people not wasting money paying people even if they are not working, even for how little this figure can be for a BB. Truly don't understand why it seems normal to get paid if you're not working or expecting automatic full time offers.