PwC and Strategy& Just CANCELLED their Internships and are giving 2500k stipends and FT offers
The title says it all. This is across the United States, M&A dealflow is also really down and banks will want to preserve cash...
So all their incoming interns are receiving $2,500 + a guaranteed FT job?
What's so bad?
Wow super impressive. Will BBs/EBs follow suit? It's almost funny considering just yesterday there were tons of people bashing interns on other threads saying there was 'virtually no chance' of direct FT conversions but then again they were also probably referring only to IB.
Offers rescinded after x% sign lmao imagine that
This is completely false. All internships will be virtual and likely receive a FT offer at the end of it.
No, your comment is false. Interns have confirmed this already.
Yeah, I saw the email myself from PwC. It states what OP said.
Chill, dude. The past week was huge for primary credit markets. Strong restructuring banks are turning down business. DCM desks at BBs and restructuring groups at EB are doing quite well. Bank of America came out today stating their internships and full time offers are in tact. Other banks will likely follow. Sorry your consulting gig was cancelled, no need to instill fear in all the aspiring bankers here though.
Can you read?
One thing that nobody has mentioned in this thread is the simple fact that right now no one can work in the office in NYC whether you are a SMD or SA in NYC because IB is not considered an essential business... and... even when the curve starts to flatten there are significant fears that opening back up too early would be akin to starting all over again. My personal expectation is that FT employees won't be back in the office on June 1 let alone interns...
Financial institutions (including investment banks) are included in the list of essential businesses published by NYS (item #7). Please check your facts.
https://esd.ny.gov/guidance-executive-order-2026