Do Summer Analysts in London Get Accommodation from Banks?
So I'm a bit confused.
I got an offer from a BB and it's been confirmed to be in-person, all things being equal.
From what I heard from the pre-COVID SAs, accommodation is typically sponsored by the firm.
However, I'm hearing rumours that it won't be so, and that we'd just be given money for sorting our accommodation instead.
This wouldn't be much of an issue except that I'm coming from a whole different continent with almost zero contacts in London and I don't know how I'd get good accommodation without being on ground to see it first as well as all the other craziness that comes with renting in London.
What do you guys think? Will accommodation continue to be sponsored or have we moved away from that? How did other international interns fair without sponsored accommodation?
Citi doesn’t provide accommodation nor relocation help
"Get accommodation"? When did this ever occur? At most I know they provide you with a sign-on bonus in which you can use to cover your first month rent and deposit. Never heard however about a bank providing accommodation for SA for a 8-10week internship. Would cost a ton for these firms.
The only firm I know that provides a housing allowance is DE Shaw; all others never did even before covid. All firms will however cover your plane tickets, with some paying a signing bonus (usually £1000) that will be paid on top of your first salary (paid end of June).
Just look for a short-term accommodation near the office (you'll be there for just 8-10 weeks, doesn't have to be perfect or cheap). The best site out there is probably SpareRoom, you can 'buddy up' with strangers looking for similar accommodations (by location, budget etc.). You can look at facebook groups (that's how I found mine last year), zoopla or rightmove. Some student dorms also offer accommodation for the summer but are a bit on the expensive side.
My 2 cents: you'll be there for just 10 weeks, try to maximize your chances of getting a FT offer by finding something within walking distance from your office, even if a bit pricey.
Awesome, thank you
In my very first IBD job I was on an international rotation scheme and they would have provided relocation assistance and rent for a limited time in London. However, 1) London was full 2) ended up in NYC 3) only got the sign on bonus and the one way flight 4) there was some assistance but they didn't pay rent
Not related but I did a summer internship at Amazon in London and on top of your salary they would give you an extra allowance for housing
Thanks.
Friendly tip tho, this is an anonymous site. Please change your name and profile picture as it's very easy to look you up.
To clarify, you mean they give you housing allowance, right? I assumed most big tech firms provided intern housing. Or is this just for the US?
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