Hello everyone,
As you guys know, MS, UBS, DB, WF, RBC, and BMO have all confirmed that their 2021 SA's will be fully virtual, and I think that it is just a matter of time before other firms also confirm this. Where will you guys plan on living? Would renting a house in Florida be a good idea? How many hours are you expecting to work? Thanks
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1. New York - I want to see if I want to live their full time. My internship is also looking like it’s going to be at least partly in person, but it if isn’t then I won’t regret it.
2. Yeah Florida will be fine if your internship is based in NY - no time difference is good. I would recommend not booking yet unless your bank has confirmed you’re virtual though.
3. I expect to be railed harder than my hot cousin on the average Wednesday night, except every night, and by my MD.
are you gonna be at gs
I don’t want to narrow down my identity too much by answering that, but I’m either there or at another bank that hasn’t confirmed 100% virtual yet.
College town, lease starts in June thru next June for my senior year, might as well not pay double rent
Following
Will be at a NY BB. HR Hasn't given us any logistics related info yet but I am pretty sure it'll be virtual. I am planning to move to NY regardless (and so are many of my friends)!
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Summer intern at a non-NYC MM bank. Still planning to be in the city of internship to interact with the team unofficially and experience living in the city to decide if I want to be there FT or no. Also, unlike many others, I will not be having the double cost of renting due to the way my current lease is structured.
In terms of work, I expect myself to have a lot of free time on my hand. Spoke to people who interned this previous summer, and most of them said it was pretty chilled with not a lot of work other than the proverbial logo assigning tasks. The gap between some tasks was as much as a day or 1.5 days. I just expect a longer version of the same. The group is probably too busy to handhold the interns through an internship when they themselves are getting staffed on a deal after another.
Is everyone in the team already in the city even when they are wfh, you really think they would just go out and meet with interns in a pandemic
yeah, most of the folks are in the city since it's not NYC or something that people are fleeing the high-cost nightmarish experience. This is based on conversations I have had with people in the office itself (including VPs).
Yes. Currently in NYC and can say this happened in the fall and increasingly more now. There might not be official company sponsored events, but wouldn’t be surprised if there’s informal drinks here and there with a team you’re working with, etc.
Any west coast people looking to rent something together?
Would be down to do so - preferably in SF/Menlo but I like LA too since that’s where I’m from (could fly up if partial in person actually happens which I doubt it will)
Could you pm me?
College town. I expect a lot of my friends to be doing the same as many other internships will be virtual.
I think the contingency that thinks that analysts or above will be in NYC during the summer are sadly mistaken. Under normal circumstances, people flee NYC every chance they have for the summer. I'm not sure you guys realize how many people prefer to not live in NYC.
Yea I don't know what everyone else is doing but I am just going to be in my bedroom at my parent's place.
Not sure if this is true for all banks but my BB paid overtime for interns (which is every week lol).
If you are working from CA (meaning you are living in CA, doesn't matter if you are working for the NYC office, for example) you fall under CA overtime labor laws.
CA requires employees get paid 1.5x overtime, but NY and most other states allow 0.5x for overtime hours.
Assuming $40/hour base rate (what most BBs are), this means that an intern working for an NYC office from a non-CA state will earn $20 for each overtime hour while an intern for an NYC office working from CA will earn $60/hour for each OT hour... imagine how much that compounds.
Wouldn't be a bad idea to post up in LA or San Diego or something to maximize the geographical freedom of a remote internship while also maximizing your pay.
Keep in mind you probably need a CA mailing address to do this.
Hm.. what if your internship is based in the SF office in California, but since it's online you'll be in another state like NY/NC. Will I still get paid OT or do I have to be physically located in Cali
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