GS shortens internship to 5 weeks
at least for London IB that is. Also pushed back by 1 week. Pay stays the same.
Do you guys think that it will still be considered comparable to regular internships on your CV?
Duration doesn't matter, you'll still have the GS IB on your CV, not like you do much during internships anyways.
facts
Confirmed for IB NY/SF as well. Pretty sure this is firmwide.
What are the new start/end dates and will it be virtual?
Not virtual for IB at least, start date 6 July
Same end date. Mentioned possible virtual components but that will be division/group specific I'm sure.
GS in London is not well known for super good return offer rate. I am very interested in how this will play out this year
Do the interns get the full 10 week salary for the 5 weeks? or is it still PS50k prorated for 5 weeks instead?
Full as if it were 10 weeks
Quite a good deal if return offer rates don't change.
A bit curious why shorten to five weeks but only push back for one week? Thought it should push back start date more but leave end date same?
Same end date, 5 weeks from July 6 ends on Aug 7
But the original SA should start on 29th June and lasts for 9 weeks.
Interesting how they're the only one (of JP, MS, Citi) whose announcement hasn't mentioned anything virutal. Seems like they're confident that things can return to the office by July 6th, unless they're not interested in setting up a virtual program either way
In the email it said " we continue to explore different internship formats, including virtual components."
okay, ty, didn't know. So in that case seems like all the banks are on the same page. Good news for SAs
How will this change interns being evaluated for FT offers? Will there be more of an emphasis on group fit since there’s not much time to prove oneself?
Wondering the same
Too early to say, but I would assume that you'll be given a full pitch project to see if you tick the proving yourself box and the rest will be based on fit imo.
Incoming GS FT here. I wouldn’t worry about the 5 weeks affecting return offers. Return offers are often decided in the first ~5 weeks on the desk. By then, it is quite apparent who will make a good analyst and who won’t. The broader economy will have more of an effect on return offers than a shortened duration will.
Have you gotten any updates regarding fulltime?
This'll probably be one of the best classes for FT analysts
Instead of the hot girl or the dude who gets along with everyone but is useless getting offers, it'll actually have some degree of merit.
Interested to see how it plays out.
Could you elaborate on this a bit more? Are return offers often decided more by internal politics and alumni backing? Do you think SA would even have a chance to show merit if it's solely virtual? Sorry, I'm just a worried SA here
No, there are not alumni scheming up, but the hot girl and the dude who gets along with everyone are going to get offers before the nerd hero who actually can do the job every single time.
It'll equalize things a bit by being online. Being the hot girl ain't going to help as much.
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