I have noticed that many French people I know are constantly jumping from one internship to another, without being able to go FT after concluding them. And I am speaking about very bright people. Same in other industries.
I am curious to know, why is this happening? Inflexible market? I found a bit surprising to see this happening in such a strong country.
nice joke
French finance is the laughing stock of the world. Just look at the size of the global IBs there, and tell me where the growth going to come from. The capital markets are just nowhere near as developed/active/deep as in the US, london and Asia. So you have a bunch of kids graduating from these (mediocre) Masters programs at the age of 27 looking to enter high finance, but there is no demand. Just hire them as interns for 12 months, give em the bs work, rinse and repeat.
My last shop had a revolving door of interns and mostly French speakers, but that was because they didn't offer full-time spots.
Because they are cheap. Many French banks, in addition to institutions based in France, are full of internship/contract roles or VIEs (internships subsidized by the French government). In these roles you're doing full-time work but getting paid less than full-time employees and not getting any full-time benefits. I worked at a French bank and was in one of these contract roles in the US. There were people that were interns for 2 YEARS and being taken advantage of.
And as a result of this, there's always 10x more intern recruiting going on compared to full time. And that would probably be an under estimated number
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