Heard from a few recruiters that banks are quietly making arrangements to host SA2021 in person. Can anyone confirm this? If so, which banks do you have info for? Will it be a 10 week internship or longer/shorter?
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Hmm let me just look into my crystal ball.
You dick
Asking about firms making current plans...
I'll be shocked if 2021 summer internships is also virtual.
Based on what?
I’ll be shocked if it’s in person
Shocked if it’s in person
....nothing. Absolutely nothing.
There's 9 months to June. I don't see NYC business still WFH for that long. That's crazy.
All of that’s fine and everything.
But do you mean you anticipate a vaccine coming through? Or do you mean regardless businesses will open etc? If the latter, um, not sure.
If the former... maybe. But you do appreciate that immunity with this Covid is short-lived, right? Thereby reducing effectiveness. Also, no guarantee of vaccine working perfectly. Also, if this thing lasts until Q2 2021 end, most companies will have invested in long term remote solutions etc.
When you say “vaccine not working perfectly” what to you is a good benchmark? Is the goal now 0 new cases, or flattening the curve?
Spoke to a BB analyst and his bank are already starting a plan to phase people into the office. If they're doing that now, they should likely have everyone in the office by next summer, so there's really no way SA's won't be in the office.
NYC? I know that in LDN some banks started 1 week in, 1 week out model. However, they started this literally 1 week before the government changed tack and backtracked from asking people to come in.
Let’s be honest here, if any of the banks are starting to phase people back in to the offices, it means that other businesses are doing likewise (whatever your region). Which in turn means that there is more exposure overall and that cases will go up. As cases go up (Europe is a great example), you need to reinforce restrictions. Restrictions/lockdowns bring cases down and people start thinking of returning outdoors/to offices etc. As they return... you get the point. The cycle goes on.
Unless I am mistaken, globally we are at kind of a stalemate. Personally, I would say that it is pretty myopic of most banks to bring people in just for the sake of it in these times. People have worked fluently so far and can surely continue (we are talking of some of the most developed economies and their infrastructures).
NYC and regional offices
Imagine unironically thinking this virus will actually keep being a thing past November and that it wasn't just an election ploy.
Couldn't be me
Imagine having your head so far up your own ass that you think the entire planet has shut down their economies to play along with your nutjob conspiracy theory
Probably could be you
Why don't we wait and see if it's gone by November? Come back here then friend :)
Of course banks are planning RTTO... we've been planning it for months now.
Its one thing to be forward thinking and have a robust plan if we're back in 2 months and also a robust plan if we need to solve for longer term WFH solutions.
It's another thing entirely for a bank to commit to "yeah SA21 will be in office". It's completely up to management's discretion and they can quite frankly do whatever the fuck it is they want. You can bet your life they'll be more inclined to deal with productivity hits and keep people WFH (some LOBs are more / less sensitive to this than others, i.e. S&T) sooner than they'll risk forcing people back and getting sued.
Talked to a senior mentor at a BB in sf, when o asked if they were making any plans to return to office soon he literally laughed... says productivity has kept up with everyone WFH so there’s no rush to return, I imagine the senior folks appreciate more time at home with their families and such.
Let’s just put it this way: I don’t see SA’s coming in next summer if the US is still considered to be under a pandemic. I anticipate a winter season just as bad as last winter, and that will probably be the straw that breaks the camels back in terms of inviting random college students from around the work to get on planes and cram into their offices. It doesn’t serve anyone to be naive about how shit this virus is being handled and how it will negatively impact your internship experience
Wondering if there are any updates on the possibility of SA 2021 being in person considering the beginning of a vaccine rollout.... My bank is in Chicago, but would love to get thoughts just in general!
vaccine rollout is too slow. At current rate it will take over a year to get most of the population vaccinated
Only need ~60% for herd immunity based on COVID’s R0
HR at GS London told me they expect to do it in person but still can't be 100% sure
they also said that in March for SA2020
...
which BB?
Yeah anybody saying HR told them any iota of something definitive is straight up lying lmao. Recruiter at a BB told me at this point in time they can’t guarantee the summer internship format and I imagine it will be this way until they have to drop the bad news come March. There’s no upside to calling it virtual so early but plenty of potential downside - and nobody makes concrete housing plans until Spring anyway.
no way in person
Bump
No way its gonna be in person.
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