CS Abbreviating Internships
Just saw an email from a buddy in ug where CS said that they’re cutting internship to seven weeks. I’d guess there’s a chance they end up axing it altogether.
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Stop fearmongering.
Think: is it productive to speculate about the internships getting axed, a month before they're due to begin? What do you gain from saying that, apart from scaring a bunch of incoming interns, who already have it really tough because they're going to have to recruit FT in a dead market?
It's a month before the internship is due to begin. They won't axe it.
^ besides, you're (presumably) an ANAL2. What does it matter to you how long an internship at a bank you don't work at is? This whole thread is just ridiculous because it is of no concern to anybody but the CS interns - literally doesn't Impact anyone else at all.
Any speculations on what may happen after internship? 0 return offers?
Looks like it but what did you expect??
important thing is that the internship does not fall through and we at least have a legacy name on our resume to recruit whereever for ft
The wordings in the email look quite pessimistic e.g. "given the industry-wide decrease in deal volumes and to ensure that we maximize the value of your time at Credit Suisse..."
Sure if its industry wide why does every bank have 10-week internships lmao. HR tried their best
Did all interns get this email?
I'm pretty sure they sent to everyone
I know summer analysts IB got the email. Did summer associates get it too?
Convenient to tell people now when interns have likely already secured housing for 10 weeks and now they have to go without 3 weeks of expected pay.
They will still pay interns for 10 weeks.
Source? Hard to believe otherwise why would they shorten
Anyone hear about incoming full-time and their start date?
Yea got the email too but saw it coming so I've been trying to network because I don't think we'll be getting those offers
Only IBD received that email. My friends at other divisions didn’t. Any thoughts on what could this mean to IBD interns?
Would that also include the capital markets interns?
Yes, IBCM as a whole division.
Just treat it as a learning experience. Either way, CS isn't giving return offers. The main things you are getting are A)a legacy name on your resume, B) the experience and C) the training, so make the most of it and be ready to re-recruit for FT.
Hey bro where did you hear that CS isn’t giving returns. Did you hear that they will give 0 returns or there are still chances to fight for possible return offers extended by UBS. This determines how much effort that I will be putting into the internship.
I am incoming 2023 SA at UBS. I heard from UBS HR that there is a spot for every UBS intern if they do well for this summer and that return offers rate will be same as previous years. Given where the market is, I doubt UBS will also give the CS kids returns if they are giving the UBS people returns. UBS MD alum basically confirmed the same, UBS doesn't plan to change their usual intern return offer rate, and I doubt they'll expand their class size this year of all years given how bad the market is.
I work at the PR firm that advises CS and we specifically drafted this response to subtly communicate that no return offers would be given to interns. Without expressly saying it, the verbiage we chose is specifically designed to insinuate the events to follow.
So you're certain they are not giving return offers?
Bro im a cs intern as well im quite confused on why you would think a return offer would exist. You should have thrown away that possibility in april even though it sucks ass
He's a troll man. Please relax. The analysts fucking with these kids right now are actual assholes.
And I work at chili’s!
Honestly no reason to be making comments like this when interns are genuinely worried about their future
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