Citi made a surprising but encouraging move by giving out FT offers to summer class of 2020. Do you guys think other banks will follow suit? How likely for different tiers? Not just limited to IBD. BIG Three: GS/MS/JPM Main Competitors: BAML/Barclays/CS The rest of BBs: DB/UBS
| +270 | Earliest you can get fired | 58 | 15h |
| +251 | UBS’s M&A BANKERS ARE DOING TERRIBLY. $200M EXTRA IS BEING CUT | 47 | 19h |
| +238 | Investment Banking is Divine | 40 | 11h |
| +223 | Career Crossroads | 31 | 1d |
| +213 | US 2027 SA IB worried about background check | 53 | 8h |
| +207 | Another $115bn Mega deal for these banks. Congrats! | 45 | 12h |
| +206 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 41 | 1d |
| +122 | Is UBS really that bad? | 38 | 10h |
| +39 | Is Houston SA 28 recruiting already over? | 33 | 13h |
| +26 | 2026-27 IB Energy Top Banks | 8 | 14h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Can someone please directly delete this shit
why it is a shit
Looooooooooool
That’s fair to ask man.
How about we use this thread for unconfirmed sources / rumors about this and not just pure speculation? No need to drive ourselves crazy playing a guessing game with no insight, but if any current bankers or interns speaking with bankers have any unconfirmed news / rumors, that would be helpful.
this
I know it’s all speculation but can anyone shed some light on why they are doing this? Is it because they can’t really evaluate candidates via an online internship?
Work at EB. No discussion of giving out FT offers to SA 2020. We’re inherently more nimble than the BBs so would imagine that this type of decision would come closer to their Summer start date. I also think we can use SAs in a virtual setting so not sure FT offers would be given without any interaction (virtually or otherwise).
how will banks evaluate interns' performance? any pointers for virtual + non-guaranteed FT interns?
You don't have to give it away, but can you maybe give a little color on what type of EB you are at? Like one of the large one's like EVR? or something more lean like GHL? Low EB like Gugg?
Interested in this too.
No one knows the answer to your question. why do you care about other interns opinions. When people brought up the idea of FT offers being automatically given out a few weeks back, half of WSO shat on the idea, and look what happened. Speculation isn’t going to get you anywhere and there’s no rule that each bank is going to follow the other. Citi gave out FT offers to their SA’s. good for those kids. Your bank might be different, and it might not. Time will tell, but I promise you that starting the 5th thread on the same topic won’t give you any more insight.
Pure speculation is not helpful, true. But if people from different banks can share their perspectives and reasoning about the FT offer conversion, it helps us manage our expectations. It is a hard time and there are so many anxieties and uncertainties. I assume many interns, at least me, are worried about our future careers and praying if other bbs can follow suit. Citi’s move is a light at end of the tunnel. By sharing ideas here, people can better prepare for the upcoming internship by listening to how peers are evaluating the possibility of automatic return so they will not be overly optimistic or anxious. I assume that you have already fully prepared under any circumstance, but you don’t need to judge other people who are worried.
:/
you know I'm gonna be honest, I think it is important to start more threads about it and talk more and more banks potentially giving FT offers. I honestly think that banks look at Wallstreet oasis. they probably have a few hr representatives who look through it to see how interns are feeling. they may have even gained the automatic
This... has to be in jest.
agreed!
I'm fairly confident most banks will follow suit. I'll keep you posted - I expect updates from my bank within a week.
Hopefully not, so incoming '20 analysts don't need to deal with a bunch of subpar analysts in '21.
Feel free to give me MS, but not until you've worked a summer with a few bottom-bucket interns
Edit: hopefully not, so everybody doesn't have to deal with subpar analysts in '21
Quaerat quia sapiente neque eos. Modi quia ut ipsa quae. Eum quidem qui et sunt enim voluptas culpa. Unde tenetur non autem nobis ut iusto aut. Facere quis minus qui molestiae a soluta. Delectus autem totam quos itaque voluptas. Ratione enim reprehenderit doloremque doloremque nostrum consequatur ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Ut qui accusamus voluptatem ullam aut quia temporibus omnis. Nesciunt dolores dolorem consequatur aut explicabo maxime officia. Accusamus a doloremque tenetur qui.
Nihil facere neque delectus nulla qui. Dolore dolores quae iure quaerat sint eligendi. In animi aut tenetur quos sequi esse molestias. Voluptatem nesciunt libero voluptates quia. Laboriosam vel maxime qui.
Laudantium possimus facere et nemo aut magni delectus. Vel et voluptatibus neque dolores vero facilis. Sint et praesentium magnam illum et. Molestiae et odit vel quo et. Cupiditate dolorum tempora quisquam ut.