How will banks treat interns this summer?
given that banks have been grinding their analysts during WFH, can interns expect to work as much or "be on call" as much? Or do you think the recent spotlight on these banks will force teams to manage intern hours to more manageable expectations?
Your kidding right?
Summer interns get f***** so hard.
For the most part intern hours are never bad. Also, you're only truly working for 8 weeks (1 week training, last week is generally free of work post-offers) and even with those the first 1-2 weeks will be on-boarding with team specific deals/slides/formats etc. I don't think interns ever 'had it bad' aside from not being able to truly learn much as it was virtual.
So in all, you really have ~6-7 weeks where you're truly on the job, you can afford to grind it out lol. I interned at an EB and had friends in other BB/EBs and most really enjoyed their experiences. FWIW our interns last summer had it easy because of the wfh aspect.
Don’t they give offers on the last day of the last week? How’s the week free them?
You sure you work in investment banking division? I’ve never heard of IBD SA being easy.
People like to make it seem like they did some devils job and worked hella hours. In reality, interns are obviously going to get worked but really not as much as other analysts - they’re inexperienced and it takes time to train them and ramp them up to speed, it’s just a lot easier to delegate actual work to full times than a monkey staying on the job for 6 weeks only
bump
For those who are having SAs virtually, it's gonna be just fine. Last year, interns in my bank had restrictions on staffing (no live deals or proprietary BD) so naturally hours were fine and split between intern projects, training and the occasional task from the team.
what about for those who are hybrid / in-person?
It will be tougher than having it fully virtual but I don't expect interns to be worked as hard as analysts - no 9-5 either. Then again it depends a lot on the team and culture.
Probably regular IB SA hours if completely in person. If hybrid I wouldn't be surprised if some firms/HR are strict on not having people get too much work due to privacy reasons. At the same time I wouldn't be surprised if some firms make SAs change when they come in (ie. work in office Weds-Fri instead of every other day + work long hours) so that they can get more work done.
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