Would remote SA even work?
Is it just me or does a remote / virtual internship seem pretty impractical. It is hard to track who is doing what and get a feel for off the record personality when all communication is zoom / email / text. Also most of the work SAs do is pretty meaningless and tedious and it seems like that would just be magnified if it has to be done remotely. However also seems pretty brutal to leave these kids with no/smaller paychecks for what are usually hard earned lucrative jobs.
Just stop
It's much harder for a bank to organize an entire SA class' remote work experience than either have them in the office or none at all. It requires more resources and more attention to SAs than what is already in short supply. Don't think it's possible for a BB to do such thing
While true, what benefit would some banks get if they decided to cancel internship programs altogether and others dont. A lot of people in other threads have overlooked the important of having a strong talent pipeline. Yes, people will want to work at the firm regardless but it's honestly more important for banks to have a strong talent pool year after year to keep the firm running. If one bank were to not have some type of internship they would lose out on interns that (since we dont know yet.. am just talking hypothetically) got an FT offer either at the end of the internship or an instant offer and most likely wont try to lateral thus being behind to the competition.
You're right by saying it is impratical. As someone who did my SA stint last year, I can say that no matter how much finance knowledge you have coming in, you know nothing compared to the full-timers. Interns need direct feedback, oversight and in-person instruction.
Don't think it'll work but banks overhired so they will definitely have to do some form of assessment to cut down on the number of people incoming. 100% FT offers for all interns is just not happening.
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