BAML 2020 SA - Any updates?

Impact's picture
Rank: Senior Baboon | 195

Hey guys, I was wondering if any other incoming 2020 SA has had trouble with the onboarding process. For starters, I still cannot access my onboarding forms. HR contact said there was an internal issue and they'd get back to us as soon as it's resolved, but I haven't heard anything for about two weeks. Starting date is not affected since this is an internal issue.

Aside from onboarding - For those who will be working in a different city, how are you dealing with housing? I don't think I'll be securing housing until mid-April as we still have yet to see how the virus plays out. Would it be a good idea to reach out to HR for help finding university housing, or should I do this on my own?

Comments (804)

  • Prospect in IB-M&A
Mar 28, 2020

Bump

Mar 28, 2020

https://www.wallstreetoasis.com/forums/megalist-ch...

Analyst 1 in IB - Ind:

From FT BAML IB: background checks are going to be postponed. There are no changes to offers.

southernboi69:

How do you know that? Did you get an email or hear directly from HR?

Analyst 1 in IB - Ind:

Emailed program manager and received response

Array

    • 1
  • Analyst 2 in IB-M&A
Jun 10, 2020

Curious on this as well

  • Intern in IB-M&A
Mar 29, 2020

baml apac onboarding completed

Mar 29, 2020

Onboarding forms, or the entire process including background check + fingerprint appointment?

Array

  • Intern in IB-M&A
Mar 29, 2020

submitted all requested docs

not sure if background check is completed will they tell you when it is? also not sure what you mean by fingerprint

processes here might be different than in the US

Mar 29, 2020

Onboarding forms in. Waiting to hear on background check + fingerprints.

  • Intern in IB - Gen
Mar 29, 2020

which location?

Mar 29, 2020

Chicago

  • Prospect in IB-M&A
Apr 6, 2020

How long did the background check take for you? Also have some onboarding delays

  • Prospect in PropTrad
Mar 30, 2020

Anyone heard anything about possible virtual internship?

  • Intern in IB-M&A
Mar 30, 2020

no word on that yet - apac

we're being ensured a "robust and quality experience"

    • 1
  • Prospect in IB-M&A
Mar 30, 2020

What is APAC

  • Intern in IB - CB
Mar 30, 2020

BAML? It's just Bank of America, not Merill Lynch anymore.

    • 4
    • 7
  • Intern in IB - CB
Mar 30, 2020

MS by "Incoming IBD Summer at BAML" LOL

    • 4
Apr 4, 2020

You might have gotten MS becuase I believe Merril Lynch houses the IBD division. If you search up bankers at "BAML" on Linkedin, all of them use the company "Bank of America Merril Lynch," not just "Bank of America."

"Markets can stay irrational longer than you can stay solvent."

  • Analyst 1 in IB - Gen
Jun 24, 2020

WHy not both?

  • Prospect in IB-M&A
Mar 30, 2020

Anyone know if a drug test is included in the onboarding process

    • 1
Mar 30, 2020

From what I've heard through the grapevine, no. But, I wouldn't bet my future on rumors

Array

  • Analyst 1 in IB - Ind
Apr 9, 2020

Alright we gotta know this now... Anyone??

    • 1
    • 1
May 5, 2020

I've gone through all of the on boarding process and I didn't have a drug test

Mar 30, 2020

Did anyone get the follow up email about finger printing stations? Still haven't gotten anything...

Array

Mar 30, 2020

no

Apr 1, 2020

Received the new email today (1st April) but no, I have not received anything about the background check and fingerprinting appointment.

Apr 1, 2020

HR just sent an email. Internships are secure, we will be paid beginning on our start date. Don't know what onboarding/internship will look like yet.

    • 6
Apr 1, 2020

what location?

  • Prospect in Other
Apr 1, 2020

^ this is true just got it

Apr 1, 2020

just received as well

Most Helpful
  • Prospect in PropTrad
Apr 1, 2020

BAML is a homie

    • 25
  • Intern in IB-M&A
Apr 4, 2020

agree - they've been pretty on the ball through this shitshow

    • 1
Apr 15, 2020

Yet they still use COBOL.....LMFAO. And who the fuck uses COBOL nowadays? And too bad they are not profitable enough to update their system to the 21st century.

Array

    • 3
  • Intern in _none
Apr 1, 2020

Is BAML paid a weekly prorated salary or are they paid hourly? If other banks follow suit and pay hourly, how do you think they will do this?

  • Intern in S&T - Comm
Apr 1, 2020

Baml is paying hourly

Apr 1, 2020

BAML pays a prorated salary for internships with 1.5x OT pay at an hourly rate.

Apr 1, 2020

Is OT payment in the employment contract?

Apr 1, 2020

Got the email today too :)

Array

Apr 1, 2020

Did the email only go out to interns in the USA? Any news from those in Canada?

    • 2
  • Intern in IB-M&A
Apr 4, 2020

apac as well

Apr 19, 2020

Emea too

Apr 1, 2020

Any news on London SA?

  • Analyst 1 in IB - Gen
Apr 2, 2020

I am working on that bank.

HR is not sure about the internship, neither if its going to happen in-site, WFH or if they are delaying / cancelling. They have no idea due to the late outbreak.

    • 1
Apr 9, 2020

Any clue if there is even consideration of a Citi/Moelis sort of deal?

  • Intern in IB-M&A
Apr 2, 2020

Probably will be a few weeks longer. Internships in London usually don't start until late June, whereas in the US internships start in the first or second week of June

    • 1
  • Intern in 
Apr 3, 2020

People already bought their housing. College dorms aren't going to extend their rooming timeline unless school itself is delayed or cancelled for the fall.

Apr 1, 2020

Were you guys talking about not being able to download two onboarding forms in order to complete the process?
-I had gotten that email saying that the portal was broken, but I was able to still download them

Also, that email this morning was the highlight of my month

Array

    • 1
Apr 1, 2020

Same! That email made my entire April.

Yes, I was talking about the two onboarding forms. How were you able to download them?

Array

Apr 2, 2020

I for some reason was just able to download. PM me and I can send them.

Array

    • 1
  • Prospect in PropTrad
Apr 2, 2020

Anyone have their placement day today? If so how did it go for you? was pretty hard for me

  • Intern in IB - Gen
Apr 2, 2020

What do u mean hard?

  • Intern in IB - Ind
Apr 2, 2020

I was placed into the group I interviewed with immediately when I got my offer a couple of months ago

  • Analyst 1 in IB - Ind
Apr 2, 2020
  • Prospect in PropTrad
Apr 2, 2020

what group?

Apr 4, 2020

which groups did you interview with?

  • Intern in IB - Ind
Apr 4, 2020

Did anyone not do a placement day and only interview/get offered with one office?

  • Prospect in PropTrad
Apr 3, 2020

Anyone receive the survey they said they were going to send out

  • Intern in IB-M&A
Apr 4, 2020

not yet - they said we'd get it at the end of the week though...

    • 1
  • Intern in IB-M&A
Apr 5, 2020

just got the survey, they were asking when the fall term is going to commence and if our current school term has been affected / extended and also if we have internet-enabled hardware

Apr 6, 2020

Same. I would be supposed if they didn't offer laptops because of security/software issues. I assume most students are on MacBooks too.

  • Analyst 1 in IB - Ind
Apr 8, 2020

Saw that Citi gave out offers.

    • 4
Apr 9, 2020

The absolute dream lol time to refresh my email every 2 minutes

    • 1
  • Intern in IB - Ind
Apr 9, 2020

Thats what I've been doing too lmao

    • 1
  • Intern in IB - Ind
Apr 15, 2020

Lol same

Apr 9, 2020

Wait full time offers for after graduation?? Omg I pray

  • Prospect in PropTrad
Apr 13, 2020

does anyone know when BAML is planning to give their next update. probably sometime this week right ? let's hope for FT offers

Apr 13, 2020

The recent survey on the 6th was due on the 10th (last Friday). I'd suspect they're going to make a portion of the internship virtual given the questions they asked. They're probably in the process of analysing the data and thinking about next steps forward.

The more I think about it I'm not expecting any FT offers unfortunately. Are you in London?

  • Prospect in PropTrad
Apr 13, 2020

No, NYC. I assume you are london ? and what is your reasoning behind thinking no FT offers ?

  • Intern in IB - Ind
Apr 13, 2020

I do think it was a good sign that Citi gave out FT to its primary offices. Maybe something comparable will happen.

    • 1
  • Intern in IB-M&A
Apr 13, 2020

fingers crossed! let's hope we get something good :)

    • 2
Apr 13, 2020

Have you guys all found housing yet?

Array

Apr 13, 2020

Nope. Are you London? It defo looks like they'd reimburse any arrangements you've made. Almost certain its going to be at least partially virtual

Apr 13, 2020

No, I'm in the US. I was in the process of looking, and then this all went down, and I decided to just hold off for now. I'm debating if I should be actively looking right now or not.

Array

  • Prospect in PropTrad
Apr 14, 2020

I've noticed that BAML usually sends emails on Wednesday. hopefully we get one tmr with the update we have all been waiting for. let's pray

Funniest
Apr 14, 2020

lmfao that's the type of attention to detail we need. there. we. fucking. go

    • 17
  • Intern in IB - CB
Apr 14, 2020

My GCIB mentor just reached out. Mentioned a shifted timeline. likely will get an update within the next two days.

    • 1
  • Prospect in IB-M&A
Apr 14, 2020

HAHA I knew that FT offers are not automatically on the table of BAML.

    • 2
    • 10
  • Prospect in PropTrad
Apr 14, 2020

why you so mean about it

    • 1
  • Prospect in PropTrad
Apr 14, 2020

Gotcha did he mention anything about FT offers

  • Prospect in PropTrad
Apr 14, 2020

did he mention anything about FT offers? Or how Citi did them?

  • Intern in IB - CB
Apr 14, 2020

No mention of offer conversion. The email was more for checking in and assurance for a quality program vs updates from recruiting. They're in a coverage group not HR.

Apr 14, 2020

Reply and casually joke/finesse whether there's any chance that BofA will pull a Citi/Moelis? This is the type of super advanced situational judgement test question you will encounter in life xd

  • Intern in IB-M&A
Apr 14, 2020

well just happy at this point to receive any communication from them haha

  • Prospect in IB - Gen
Apr 14, 2020

On a separate note, has anyone not received a GCIB mentor as yet?

    • 1
  • Prospect in PropTrad
Apr 14, 2020

Yes I have not. Im NYC, not sure if we were supposed to receive one

  • Intern in IB - CB
Apr 14, 2020

I'm NYC in CIB. Maybe it's for sophomores only?

  • Intern in IB - Ind
Apr 14, 2020

I have not received a mentor yet, but my office did its own recruiting process completely separate from HQ, so I'm just assuming we're not having them

  • Intern in IB - Ind
Apr 14, 2020

Hope for the Best!! I believe they will treat us well.

    • 2
    • 2
  • Intern in IB - Ind
Apr 14, 2020

Deleted

    • 1
  • Analyst 1 in IB - Ind
Apr 14, 2020

bruh

    • 5
Apr 14, 2020

Waiting for tomorrow's comments: "Do you think the xx% decrease in profits in Q1 will affect FT conversion rates???"

    • 1
  • Intern in Other
Apr 14, 2020

Anyone get assignments for fingerprinting or hear any follow-up since we submitted those political contribution/employment history forms? pretty paranoid about missing that email or an onboarding step...

Edit : aside from the online training program update

  • Prospect in IB - Ind
Apr 14, 2020

nah I haven't,

Apr 14, 2020

No, I haven't received any fingerprinting instructions. Check my email and junk email everyday.

  • Intern in IB-M&A
Apr 14, 2020

is it just me or do most of the baml emails go straight to junk

my offer letter went to my junk... thought i hallucinated the offer call

    • 8
Apr 15, 2020

I received an email for fingerprinting 8 days ago and got it done today

  • Intern in Other
Apr 15, 2020

In the U.S?

Apr 14, 2020

For anyone that's interning in BofA London - could I check how far you are in the on boarding process? I've submitted the health questionnaire about a month ago with the hire right thing but haven't heard since. I'm not a spring convert

Apr 15, 2020

Same position as you (and I am a Spring convert); been receiving update emails and received my DBS, so I think it has all gone through.

Apr 15, 2020

DBS? What was that?

Apr 15, 2020

Not a spring convert, heard nothing as of yet!

DBS is the criminal record check.

Array

  • Prospect in IB-M&A
Apr 15, 2020

Just talked to my Mentor and he said the consensus at BAML seems to be that FT decisions will be still made at the end of the internship and that they have plans on how to assess the interns although its virtual...

That sucks damn, I really hoped for the FT

    • 2
  • Intern in IB - Ind
Apr 15, 2020

Deleted

    • 3
  • Prospect in 
Apr 15, 2020

you need them more than they need you

    • 2
    • 1
  • Intern in Other
Apr 15, 2020

To clarify, did he confirm that it's virtual?

Apr 15, 2020

Lol....you do realize that banks generally have really poor tech infrastructure, right? After all, isn't Capital One the only bank at this point that runs on Java? All the other banks use COBOL..... LMFAO. I mean, who the fuck still uses COBOL

Array

    • 2
Apr 15, 2020

Quarterly earnings call seems good actually.

  • Intern in IB-M&A
Apr 15, 2020

i think EPS missed by 20c against consensus of 60c - that said, looking at the press release, fees are up 10%

could be encouraging idk

Apr 15, 2020
Impact:

Hey guys, I was wondering if any other incoming 2020 SA has had trouble with the onboarding process. For starters, I still cannot access my onboarding forms. HR contact said there was an internal issue and they'd get back to us as soon as it's resolved, but I haven't heard anything for about two weeks. Starting date is not affected since this is an internal issue.

Aside from onboarding - For those who will be working in a different city, how are you dealing with housing? I don't think I'll be securing housing until mid-April as we still have yet to see how the virus plays out. Would it be a good idea to reach out to HR for help finding university housing, or should I do this on my own?

  • Analyst 1 in IB - Gen
Apr 15, 2020

You should take one thing into account BAML London usually hires 50 for summer, this year it has 15-20 off cycles (much bigger class than notmal, two times bigger). Most of the off cycles will get an offer as they have 6 months to prove what they are worth and learm from their mistakew, which leaves SA2020 with less seats for 2021 promotion.

Before it used to have less off cycles and they used to join the same year after the off cycle, which is not going to be the case this year.

Then include that classes will shrink as BAML was increasing size due to a very strong pipeline. Now take all of this into account and try to understand that FT conversion rate is not going to be 100% and will be lower than in other years unless covid19 effect lowers and M&A comes strong again.

Nevertheless those at DCM at BAML you are lucky the market share its gaining is incredible its doing way too good so you will get a lot of exposure and there will be good headcount, more than usual.

    • 1
  • Prospect in IB-M&A
Apr 15, 2020

Yeah I also heard from a friend that this years off cycle class was the biggest at BAML in a long time and that all of them are about to get the offer.

  • Analyst 1 in IB - Gen
Apr 15, 2020

Not all of them will receive it, but most of which I worked with are pretty good, you wouldnt know if they are analysts or interns if you saw them working.

Thats also cause most of them worked at other banks and many have more than 6-8m of experience which gives them an edge

  • Prospect in IB - Ind
Apr 15, 2020

Also I would like to add. I believe the person above who spoke with his mentor is not from US. Possibly London. I think that this is true bc i have not heard of any U.S interns getting mentors as group placement is not even finalized. So, hopefully there is still a chance. A good point made above was that London interns have 6 months to prove themselves. Where as U.S intern will most likely have 5 weeks...

Apr 15, 2020

BofA London has not been allocated group placement nor a mentor - in fact, the person mentioned he was in the U.S.

Additionally, I don't think you understand what the poster was talking about. There are two types of internships - Summer Interns and Off-Cycle interns. Summer Internships are a standard 10 weeks. Off-Cycles are for people who are on gap-years or recent graduates etc who intern for 3-6 months. The vast, vast majority of interns at BofA are summer interns, not off-cycles.

  • Intern in IB - Ind
Apr 15, 2020

APAC interns haven't received any information about mentors either.

  • Intern in IB-M&A
Apr 15, 2020

apac hasn't received any updates since the survey....

are you sg/hk?

  • Intern in 
Apr 15, 2020

I am a US intern and have already received a senior mentor btw!

  • Prospect in IB - Ind
Apr 15, 2020

how? what division and did HR assign you ?

Controversial
  • Prospect in IB-M&A
Apr 15, 2020

Guys I think we will receive the Ft offer for sure :) we just need to think very positively.. Why shouldn't BAML do the same like Citi? It does not make sense to me!! So LETS GOO!

    • 8
    • 10
  • Analyst 1 in IB - Ind
Apr 15, 2020

no

    • 1
    • 1
  • Prospect in IB - Ind
Apr 16, 2020

when do people think we are gonna get an update

  • Intern in IB-M&A
Apr 16, 2020

doesn't seem like it's gonna be this week by the look of it...

  • Prospect in IB - Ind
Apr 16, 2020

why

  • Intern in IB - Ind
Apr 16, 2020

My friend is interning in a different division of BofA in NYC (I'm in IBD in NYC) and she emailed HR on Monday. Her HR told her they will hear an update by end of week. So looking like we will hear something tomorrow

    • 1
  • Analyst 1 in IB - Ind
Apr 16, 2020

alright guys it's time

    • 6
  • Analyst 1 in IB - Gen
Apr 17, 2020

Not to kill your deams but looks like it's not gonna happen like it did at citi. BoA expanded aggressively over the last few years and didn't take the more cautious stance that other banks did with headcount (ie JPM/Citi).

    • 3
    • 2
  • Intern in IB-M&A
Apr 17, 2020

still nothing yet

  • Analyst 1 in IB - Ind
Apr 17, 2020

would be later in the

    • 1
  • Analyst 1 in IB - Gen
Apr 17, 2020

HR sent an internal memo saying that they still dont know the headcount for 2021 so very unlikely that automatic offers are given

  • Intern in IB-M&A
Apr 17, 2020

thanks for the information

would this be for NYC or all offices?

  • Analyst 1 in IB - Gen
Apr 17, 2020

I think only people from London where on CC no idea about NY.

Anyways they said that they are taking a global approach on all of their decisions, so there is no discrimination. Would take it wil a grain of salt tho, as until yesterday they didnt decide if they wanted to keep hiring freeze for 2020 or not...

Apr 17, 2020

That is actually so horrific lol. Are you sure it's HR? Maybe group placement or smthn?

    • 1
  • Intern in IB-M&A
Apr 17, 2020

Yes it was HR as they wrote me immediately after but just mentioned that it concerns the summer. I tried to call back but no one is answering. A VP is also on cc and in the meeting on Monday.

  • Intern in IB - Ind
Apr 17, 2020

I didn't get a call. I wouldn't worry about it... they're probably just super busy and sent you an invite so they don't forget to respond to you

  • Intern in IB - Ind
Apr 17, 2020
Comment
  • Intern in IB-M&A
Apr 17, 2020
  • Prospect in IB - Ind
Apr 17, 2020
  • Intern in IB-M&A
Apr 17, 2020
  • Prospect in S&T - Equities
Apr 17, 2020
  • Intern in IB - Ind
Apr 17, 2020
  • Prospect in IB-M&A
Apr 17, 2020