Hi monkey's, I'll be interning at CS this summer. Was looking for some perspective as to what CS Analysts / Associates are doing given the situation, and if there is any live deal work going on and what hours we can expect to work.
TIA
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Any word on what’s going to happen with the incoming FT class?
Almost nothing actually. Only in one live deal that is about to close. 0 pitching.
Everyone’s making other plans. We all want to jump to the lifeboats but there’s no room for all of us.
Thanks for the color, what are hours looking like?
10-4 lol. Not a lot to do
Are you expecting a bonus
Didn't bonus figures already come out?
Is this the same across all teams?
Hours of actual work: very little
If you don't mind me asking, could you provide detail as to what your hours look like and what they have you doing?
handwritten letters to clients
I really don’t understand what SA and FT people are gonna do. There are no jobs for anybody to leave, no work to work on. Who knows what’s gonna implode when UBS finishes the acquisition…
Facts
It's not looking pretty
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Following
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Bumping
We’ll give you guys comps/profiles/busy work, maybe some bs homework models, etc. There’s a chance things pick up depending on how much certainty or info emerges throughout the summer (and the overall market), but don’t expect it. Shits slow and in limbo for the time being.
Doubt the merger will happen anytime soon. I got contacted again for the upcoming off-cycle position at UBS, they are not going to use the CS interns as the complete merger would take longer.
The merger will close next week
Legal close, it will take years for the merger to complete operationally
What will CS summer analyst return offers be like? Will there be any FT seats to fill?
I would not count on it.
If numerous FT analysts leave or get let go, would there be more space for FT analyst positions for the incoming intern class?
I would recommend getting a feel as soon as you begin.
https://www.bloomberg.com/news/articles/2023-05-24/santander-targets-do…
Can someone copy and paste this article
Whomst MD??
....
Hunger games watch parties
Anyone know when incoming FT analysts will hear back from HR on training/start dates and if UBS is converting offers for IBD SF/NY/LA?
Would the UBS interns be given offers before the CS interns do?
don’t know exact timeline but ik hr is preparing to send out emails on that, as UBS is planning on sending out offers to incomings in IBCM in US with either an option to join with normal start date OR join with a deferred start + bonus
Did you hear anything about incoming SA at CS. Will there be any considerations for return offers?
How are analysts working 10-4(pm)?? I thought when there are few deals, people get pitch books to build instead?
Who would hire us in this context? Everyone is leaving. There’s been 0 pitching since deal was announced
Even the most delusional, desperate, sweatshop-driving MD knows no one is gonna hire CS for any work man…
Is every full time CS person interviewing right now?? What would the internship be like?
Insert BettleJuice "Just Hanging Around" Meme
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Sounds like many at CS are trying to interview and move out.. any people wanting to stay in their team?
I’ve heard nearly all juniors in FIG are sticking out and will move to UBS because their MDRs promised them
Sorry for the stupid question - what does MDR mean?
Managing Director
Does anyone know when FT IB analysts will hear back about start date and training/potential offer conversions?
no idea, but I’ve heard that it’s something happening around the street with few people on other threads complaining that they haven’t heard about start dates either
CS first year here. Would note a few things:
End of the day if I were an SA I would go in and kick ass at my internship but fully expect to be involved in FT recruiting. At the end of the day, I just feel as if it is not going to be the greatest learning environment in the short term (from a deal flow perspective).
Why go and "kick ass" and waste your time if you know there is no return offer?
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