Will Summer 2023 interns be affected by anticipated hiring freezes/lay offs in IB?
I'm an incoming 2023 SA and worried about the chance of offers getting rescinded, any thoughts?
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Honestly they are pretty high. During hiring freezes it's policy at most of the large banks to not have a new batch of interns come in, so as soon as layoffs or hiring freezes get implemented at your specific bank you will probably get the email letting you know your internship has been canceled.
Sorry man, I know of a few boutiques in NYC you can reach out to if ya wanna PM me.
Look, I'm just an incoming analyst, but this perspective seems kind of stale. I can't imagine that banks are doing this after how bad the blowback was for the Covid round of cancellations. The lateral and post-SA new hire market are definitely tight (speaking from recent experience) but rescinding intern spots is down the list of things a bank will do to cut costs.
Nahhhhh, you're fucked too. The first people that get cut are 1) Incoming Analysts, 2) Incoming Summer Analysts, 3) Non-Targets
Lol I'm in Rx. You're more likely to get laid off than me at this point.
OP, this guy is a low quality troll. You're most likely fine, but fair question/concern. Don't PM this wanker.
Damn, I messed up. RX actually gets laid off first. Then Incoming Analysts, Summer Analysts and Non-Targets. If you're non-target & in RX they take you behind the shed...
That'll do, ECM guy. That'll do.
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Is there any way we can make an exception, just for OP, to make sure he does get laid off even if the other interns get to stay?
Feel like banks would much rather cut the analyst they are not happy with before they cut interns
Yeah I would be worried. I heard McDonald's is hiring though
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