Comments (208)

Mar 7, 2020

Not going to lie this has been on my mind

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Mar 7, 2020

some S&T groups are being relocated in case NY is donezo

Array

  • Intern in Other
Mar 7, 2020

what firms?

Mar 7, 2020

BAML and JPM, only affects a small portion of the desks though I don't think interns will be affected

Array

Mar 13, 2020
GoodwinMog:

some S&T groups are being relocated in case NY is donezo

What do you mean donezo. Nothing is going to be donezo.

Banks are having people work a combination of remotely at home, at a disaster recovery locations and/or at the regular office. This will continue with less people working at any office location and more at home. It's probably a coin flip if they cancel internships. I suppose it's better to have on a resume than not but I highly doubt they keep interns this year. And if they do I can't see how it would be feasible.

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Mar 13, 2020

Can't have a solid conclusion but canceling might be extreme - if so budget for 2020 recruiting would be a sunk cost? Really need to see what is happening in next 3 weeks. But personally think that FT headcounts would be quite lower due to market downturn.

Mar 7, 2020

what about full time start dates?

Mar 7, 2020

Yeah I'm honestly really worried. I might be paranoid but this virus doesn't seem to be going anywhere...

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  • Intern in IB-M&A
Mar 7, 2020

Also worried, but seems like the whole situation is being overblown.

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  • Intern in IB - ECM
Mar 8, 2020

Maybe. But It doesn't matter what the facts are it matters how businesses react, and they seem to be acting with precaution

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Mar 29, 2020

Jefferies CFO just passed away from COVID, don't seem like it's overblown to me. Take a gander through some of the local Manhattan ICUs so you can understand just how overblown it is...

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Mar 7, 2020

My hunch is we're entering a U-shaped recession that won't become truly evident until Q3 (i.e., jobs numbers and GDP may be strong for next few months, given the Fed is pulling out all stops with rate cuts for short-term stimulus). Hard for anyone to predict exact duration of recession but I suspect in the next 1-2 years (perhaps sooner) there will be a flurry of M&A/restructuring activity starting to brew as companies (travel sector first) begin to flirt with or trip debt covenants and need to explore strategic alternatives.

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  • Analyst 1 in IB - Ind
Mar 7, 2020

no debt has covenants anymore lol

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Mar 13, 2020

Lmao this is so wrong

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Mar 14, 2020

Lmfao you clearly don't know what you're talking about

Mar 15, 2020

*syndicated direct lending - it's a joke. Between the lack of covenants and unrealistic EBITDA adjustments (which are lagging materialization timelines signifciantly) you're lucky to be holding 8x clean leverage vs the 4-5x "pro forma".

At some point this is going to end badly.

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Mar 7, 2020

reverse hockey stick shaped recession
its too late for the v now

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Mar 9, 2020

One of the best opinions I've read on the current situation.

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Mar 14, 2020

There is no such thing as a V-shaped recession! It will be very bad.

Buy 0-5 year TIPS bonds because the current situation is unlike any other recession the Fed has ever seen.

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  • Intern in 
Mar 8, 2020

Should I panic really? I don't know what I would do with myself if this happened.

Mar 8, 2020

Panicking won't change the outcome.

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Mar 13, 2020

how do you know? ever hear of the butterfly effect? jk obv.

Mar 13, 2020

Nope. Panic does not solve problems.

  • Prospect in Other
Mar 8, 2020

I was supposed to study abroad and return right before my internship began, but was told not to go because the firm would likely mandate that I be quarantined, causing me to miss weeks of work.

GS Women's Leadership Camp was supposed to be next week. First it was moved to NJ away from NY employees, then cancelled.

The reaction to this seems like it will only get more severe. Can you even effectively do these internships remotely? It would make sense for firms to prioritize their current employees over their future ones, but this is pretty wild. Would we all just get returns? If the pipeline closes there will be no 1st year analysts come 2021.

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  • Intern in 
Mar 8, 2020

I'm just an intern panicking, but everyone getting return offers would be amazing but it's the last thing I think would happen instead of just focusing on the analysts they have currently? I'm really hoping someone can tell me I'm wrong and that returns just might be at 100%?

  • Intern in IB - Gen
Mar 8, 2020

no way returns are 100, firms like gs know they will be giving out only a certain number of returns.

internships will not be cancelled.

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  • Intern in IB-M&A
Mar 9, 2020

Did they do anything in substitution? Like a virtual event or anything?

Mar 14, 2020

You can do internships remotely, but it will suck. But you can wear jeans and a t shirt while working, so it pretty much evens out.

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Mar 22, 2020

Who in their right mind is wfh in jeans?

Mar 8, 2020

The regional analyst training camp at my MBB was cancelled.

Instead of a free trip to Europe people have to watch videos online lol

Controversial
  • Intern in IB-M&A
Mar 8, 2020

I believe the extreme case is forgoing the SA 2020 program and extending full time offers instead.

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Mar 10, 2020

Haha that is comical if you think that would happen. Zero % chance banks would just give FT offers out without seeing how they would perform.

I think you are underestimating how easy it is for banks to re-up hiring once things blow over. Like in a year. Current groups will just have to make do with less (which may not be super difficult if deal activity plummets).

I expect summer analyst programs will be remote this year and the number of FT offers will decline dramatically.

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  • Intern in IB - Gen
Mar 10, 2020

I agree, zero percent chance that full times would just be handed out. Also I would caution everyone to remember what happened last summer. Firms like JP Morgan (where I received my full time) only handed out something like 50% offer rate to SA and even less to associates. That means the banks have already prepared for a recession or something close to it for this upcoming year (at least JP did-not sure how other banks prepared). I also suspect that for this years SA program, there were less offers to begin with, unless they will just have a very low yield. Good luck everyone!

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Mar 12, 2020

Interns have no idea what they are doing, to have them work remote would be completely useless.

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Mar 13, 2020

Not to burst any bubbles, but there is no way they will just give out offers without the internship. There will be no shortage in analysts, given the number of Big 4 TAS (CF, FDD, and Valuations) applicants trying to break into banking. Which would a bank prefer: a kid straight out of college that has not proven they can handle themself or Big 4 applicant that has a year or two of applicable experience.

I am the ladder and I have already seen an uptick in responses from banks inquiring about interviews.

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Funniest
  • Intern in Other
Mar 13, 2020

Oh everyone watch out...the Big 4 "ladder" is in the house

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Mar 15, 2020

Safe to say this was an unpopular/inaccurate post. Could someone expand on the inaccuracies? I am curious if I am completely off on my thought pattern or if the unpopularity is stemming from stressed out future interns throwing MS?

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  • Analyst 1 in S&T - Other
Mar 17, 2020

I love how entitled Big 4 folks always are, the demographic of an investment bank runs circles around it - I've met plenty of people in both roles

Most Helpful
Mar 8, 2020

Kids, I don't care if Berkeley says you can't come to class, you are expected to show up for your summer internships until we say otherwise. Yes, this might change but it's the most current, accurate information I can provide. Until then, don't panic.

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Mar 8, 2020

True. But I think the concern is more about interns coming in and getting the more at-risk senior bankers sick. After all interns are always blowing their bank on big international trips right before their start dates.

Mar 9, 2020

As a VP...

rubs hands

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  • Intern in IB - ECM
Mar 9, 2020

man us interns don't get any money before we start. I wish

Mar 9, 2020

Do you think there'd be a hiring freeze in places like GS? I'm about to get an offer from them and I'm shit worried

Mar 9, 2020

Yes if they have a brain

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  • Prospect in IB-M&A
Mar 10, 2020

Dang you backed down and edited your comment after the MS...

Mar 10, 2020

My fraternity colleagues were triggered after I said "You're more likely to die from frat hazing" they informed me that fraternities no longer haze, and just have nice social interactions.

I stand by the point that summer interns and full time hires will be fine. We're also too far away to speculate.

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  • Intern in IB-M&A
Mar 10, 2020

That was not your original comment which got hit with multiple MS. LOL

Mar 10, 2020

Nope, my original comment said that there was a 99.999% chance summer interns would have to come to work. I don't think it's productive anymore to speculate either way.

I can guarantee that for my office, we will not rescind summer or FT offers. I can't say that's true across the street so I'll just shut up. My own personal experience doesn't have a bearing on what's going on globally and I am not a medical expert. I don't like the alarm being demonstrated around the internet but caution is never a bad idea.

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Mar 12, 2020

Heh, well my company just said otherwise. Everybody working from home until further notice

Mar 9, 2020

Summer programs will not be cancelled unless the current situation seriously deteriorates. Focus on the aspects of life that you can control and your anxiety will subside. General advice for life.

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  • Prospect in IB-M&A
Mar 9, 2020

How will this impact class of 2022?

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Mar 12, 2020

Too soon. But maybe we will see in a couple of weeks - probably how Trump and Fed react.

  • Intern in IB - Ind
Mar 9, 2020

If this does lead to GDP slowdown, and assuming internships still take place as planned, would full time offer rates drop significantly?

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Mar 9, 2020

Bnp Paribas spring week has been canceled and rescheduled for next September. I don't know for summer programs.

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  • Prospect in IB-M&A
Mar 9, 2020

Will this affect incoming FT class of 2020?

Mar 10, 2020

No

Mar 9, 2020

Yeah would love to hear some perspective on what this means for full-time if anyone has heard or knows anything. Seems from what I can tell is it hasn't been much of a discussion and things will go on as normal for the FT analyst. Again, not sure though.

Mar 10, 2020

No impact on FT hiring or offers according to our BB HR.

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  • Intern in IB - Gen
Mar 10, 2020

Banks prepped for a recession like conditions last summer when they decreased offer rates significantly (JP did at least), meaning that there will be little impact on the class since its coming in smaller than usual- good planning on JPs part honestly- although it was brutal to see so many people not receive returns last summer...

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Mar 10, 2020

I am calling you out for spreading wrong info. Return offers for summer associate at JPM last summer are over 80% across industrial, C&R, healthcare, FIg. Could you tell me which group has less than 50% offer rat?

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Mar 9, 2020

If and when your summer gig gets cancelled because of the virus, summer internships will be the last of the things on your mind.

  • Intern in Other
Mar 9, 2020

hearing a lot of classes being cancelled... stanford columbia princeton amherst uwashington

  • Incoming Analyst in IB-M&A
Mar 10, 2020

harvard just went online, too

Mar 14, 2020

Cornell, UVa canceled too

Mar 10, 2020

JPM just canceled its London spring week (my sister had an offer), not sure if they are gonna reschedule or what.

Mar 10, 2020

Dont you think that if they do cancel the internship, which i think is very unlikely, then they will just be a massive recruiting for FT from every bank ?

  • Intern in 
Mar 10, 2020

I don't think SA will be cancelled (I do think universities nationwide will be closed in the meantime). If they somehow are cancelled and not even put online, I think most well-positioned banks would just extend FT offers to most SA with some extra training period.

Mar 10, 2020

Guys you do not realize how little value summer analysts provide. FT groups can handle all of the work without any intern help (literally do it the other 40 weeks of the year).

If things continue on this path (i.e. all universities canceling programs), banks will 100% follow suit and do remote internships.

  • Intern in 
Mar 10, 2020

Would FT offer rates be lower given these remote internships? Would it be due to economic conditions or just the fact that remote work cannot be evaluated as easily. I imagine interns would still be expected to be in NYC at least?

Mar 10, 2020

There is a case of Coronavirus confirmed at the Barclays NY headquarters and employees are still asked to come in which is unacceptable.

There was a thread just posted with more color on the situation "Barclays Blatant Disregard..."

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Mar 10, 2020

I don't go to Manhattan anymore and I am not going until next year.

"It's okay, I'll see you on the other side"

Mar 10, 2020

"There was a thread" == you started that thread

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  • Intern in IB-M&A
Mar 11, 2020

what about the placement process? This is nerve cracking...

Mar 10, 2020

I first thought a delay in the start date could be possible until I realize that we can't predict the course of the virus anyway...

  • Analyst 1 in S&T - Equities
Mar 10, 2020

Summers might get cancelled and candidates will be offered (very) accelerated interviews/superdays for FT next year. My 2 cents.

Mar 10, 2020

Heard DB London has canceled some internships for certain position. I have no idea if this is true or not but can anyone confirm? Do they just hand out FT offer then?

Mar 10, 2020

You guys do know things are starting to look better in China, right?

I get things are different in the U.S. and I agree things will probably get a bit worse but I don't think the world is ending here. Also not a doctor so more than easily could be wrong. I just think there's a lot of panic that isn't quite warranted yet.

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Mar 10, 2020

Same. Although >100,000 cases globally sounds like world war Z, but in fact the proportion of active cases compared to total cases is to some extent much more optimistic. True that things have improved in China but the European countries have been knocked down one by one. Perhaps it's all like taking turns - now US UK...

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Mar 11, 2020

I would look at Italy instead of China, a country that hasn't been very transparent. So basically we'll know in about a month time

Mar 12, 2020

The reason it's starting to look better in China is cuz it's authoritarian government basically shut the entire country down. I don't think the same can happen in the US, especially with the lack of preparation of the US healthcare system and this administration.

Mar 12, 2020

I do think that's a fair point and the U.S healthcare system has a huge risk of not having enough infrastructure to handle things should it get bad. But to your point about the authoritarian government, another country to look at is South Korea. They are democratic and they are starting to see large improvements as well.

I don't say any of this to undermine the fact that things could get extremely bad in the U.S. I do agree this is a likely possibility. I more so say all of this because most people are completely losing it right now thinking the world is about to end. Things are looking better in a few other countries, so eventually, some way somehow I think they are going to look better for the U.S. also.

  • Prospect in IB-M&A
Mar 12, 2020

Or take a look at South Korea, they've slowed the outbreak really quickly without being as careless as Italy or as authoritarian as China.

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  • Business School in IB - Gen
Mar 11, 2020

Don't mean to hijack the thread, but I start b-school at CBS (so NYC) this August, and intend to recruit for IB. I've heard banks effectively start recruiting for their F'21 summer class in late-Sept. If this virus continues beyond these summer months, and firms don't even physically come to campus to recruit in fall, how will we possibly land SA positions?

Or am I being overly paranoid and shouldn't be thinking that far out this early lol? It's got me nervous though...

Mar 11, 2020

Too early to worry about 2021 SA.

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Mar 12, 2020

I think they will let you know in timely manor. This's everyone's problem - so not just you.

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Mar 11, 2020

Things should be more stabilized by that point. But honestly anything can happen. I have a SA offer from an BB in NYC and I've been worried for days. I don't know if they will rescind the offer.

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  • Business School in IB - Gen
Mar 11, 2020

Damn, yeah I feel you - good luck with it man, hoping they don't actually rescind offers

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Mar 12, 2020

I feel you. Can't sleep.

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  • Intern in IB-M&A
Mar 11, 2020

I think cancelling SA 2020 will just be too wild and a big hit to recruiting (e.g. banks spent a lot of money on campus presentations and diversity days to recruit their interns) so a late start (maybe even August when things settle) might seem more reasonable given that many unis plan to start in September anyways

Mar 12, 2020

Maybe late start + shorter internship since we have school at the beginning of Sep?

Mar 12, 2020

Internships will be remote

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Mar 11, 2020

The number of businesses that won't be able to service their debt because of this situation is going to be staggering.

2008 is going to look like a handful of bad mortgages compared to the damage this is going to do to the global economy. I have no idea what our world leaders are thinking, but unless this cold virus is the worst public health crisis since 1918, they are overreacting.

I don't know anyone that's sick, and I've been accused of not being the most empathetic individual, so I'm not going to sit here and act like I would make the right call here, but I feel like we don't have a true handle on the damage these shutdowns are going to cause. Universities? Whatever. Travel bans? Bad. School systems? People have to stay home, bad. Cancelled events of all kinds? Bad. Etc.

Add in energy company defaults and the US economy is going to crater because of this. The fed is out of ammo, and our government has no chance of keeping all of these companies and individuals above water.

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Mar 12, 2020

It's a real possibility especially with all these recent cancellations of big organizations like professional sports and universities.

Mar 12, 2020

Frankfurt is completely cancelled, too. No travels for sales people. With a quarantine like this, it will be over by summer.

Vincet Voluntas - Will shall win

Mar 12, 2020

Hopefully things will get better by the summer. For now I can't even speculate what would happen in the next three days....

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  • Intern in IB - Ind
Mar 12, 2020

bump

Mar 12, 2020

Hope all that quarantines will finish till May!

Mar 12, 2020

I hope so, if the situation won't get worse.

Mar 12, 2020

A couple of my buddies currently in co ops/ off cycle spring internships were told not to come in and they would be paid vacation hours. This is Toronto btw.

Array

Mar 12, 2020

Was just given the choice to do the same, decided to stay in office

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  • Prospect in IB-M&A
Mar 13, 2020

are they getting return full time offers ?

Mar 12, 2020

GS in NY confirmed same start dates. Will provide updates as needed.

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Mar 12, 2020
  • Prospect in IB-M&A
Mar 12, 2020

S/O to everyone for the updates. Very much appreciated.

Seems like things are staying on track as normal. Could change but I'll take this as a good sign for now

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Mar 12, 2020

WSO's COO (Chief Operating Orangutan) | My Linkedin

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  • Intern in IB-M&A
Mar 12, 2020

GS SF/NY confirmed start dates and has no plans to cancel SA 2020.

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Mar 13, 2020

JPM sent a questionnaire to all interns asking:
If they got corona virus, were in contact/ slash countries affected.
If they are currently in location of their internship, if they plan on travelling before their internship begins.

While they are saying internship is taking place still, I feel If you answer yes to some of the question above, they will re-evaluate the risks...

  • Intern in Acct - Audit
Mar 13, 2020

Italy here: audit intern at Big4, working from home since february 24th

Mar 13, 2020

I just heard Citi put out a statement that 2020 summer internships are going to look much different this year - they are still evaluating what to do but assure everyone they will honor their internships it just might be a completely different platform

  • Prospect in IB-M&A
Mar 13, 2020

can confirm that I heard this as well, assured summer internship is still in place but may change the way it is (was vague but could mean remote or just switching dates around ? )

Mar 13, 2020

"A completely different platform" doesn't sound like just switch dates to me. Perhaps remote internship.

  • Prospect in IB-M&A
Mar 13, 2020

Just heard from a few buddies that Cornell has cancelled classes until April (not even online). Potentially people there will have to take another semester to graduate. MIT has gotten rid of grades this semester counting (S/U instead)

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Mar 13, 2020

Cornell moved to all online classes after spring break like most of the ivies did and they waived the swim test requirement (realizing somer students might not have had a chance to complete it) ... so why wouldn't they be able to graduate?

  • Prospect in IB-M&A
Mar 13, 2020

It's not all online it's suspended until April most recent news I heard from few buddies who go there.

  • Intern in IB - ECM
Mar 13, 2020

CS to incoming SAs: " We are busy preparing for your arrival!

Part of our consideration for the program this year is the impact of the Coronavirus pandemic. Rest assured, the health and safety of our employees, clients and our community is our top priority. With that in mind, we are actively reviewing our program for 2020 to ensure an amazing internship experience at Credit Suisse. The situation remains fluid, so we will continue monitoring very closely and will provide you with updates in due course."

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  • Analyst 2 in IB - Gen
Mar 13, 2020

Citi email to incoming FTs:

:

Citi 2020 BCMA Analyst Program

Important Full-Time Program Update:

We are aware that many of our incoming employees are concerned about the increasingly widespread COVID-19 situation. The health and safety of our employees are our highest priority. Accordingly, Citi continues to monitor the situation closely and has implemented precautionary measures across our business globally.

We are working to best assess the situation in relation to the 2020 Full-Time program. The program may look differently depending on how the COVID-19 situation unfolds. Nonetheless, we want to ensure you that your offer with Citi is not in jeopardy and we are working diligently to determine next steps.

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Mar 19, 2020

Is this NY?

Mar 22, 2020

Not just NY, regional offices as well.

  • Intern in IB-M&A
Mar 13, 2020

my interview got postponed at a boutique

  • Prospect in IB-M&A
Mar 13, 2020

For full-time or for summer analyst?

  • Prospect in IB-M&A
Mar 13, 2020

JP just sent out an email reassuring incoming FT Analysts/Asso that offer still stands

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Mar 13, 2020

you can only get coronavirus if you go to a non-target, so top banks will be fine, filled with Ivy League and Georgetown students

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  • Prospect in IB-M&A
Mar 13, 2020

Heard from my MM today; they do not plan on changing anything with their SA program

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Mar 13, 2020

Would you mind PMing me which MM? At a MM too but heard nothing.

  • Prospect in IB - Ind
Mar 14, 2020

I'd rather not name it but looking through your comment history it's 100% not yours.

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Mar 14, 2020

would you mind PMing me which bank?

  • Analyst 1 in IB - Ind
Mar 14, 2020

MM stated they aren't planning to change things at the moment, but things are fluid. We'll see.

  • Prospect in Other
Mar 14, 2020

Anyone hear anything from Barclays, MS?

  • Intern in IB - Gen
Mar 14, 2020

MS sent out an email to all incoming interns that they are not planning on changing anything at this time. That's all that was said

Mar 14, 2020

Hope is not a strategy. From someone who saw everyone's offer/job evaporate in 2008/2009 if I were an intern today, or a graduating senior with a job offer in hand, you should be proactively either fighting for your offer (politely checking in) or aggressively lining up backups. It's the smart thing to do.

Until infection2020.com states otherwise, we are in for a world of pain, potentially reshaping entire industries (commercial real estate case in point). There are funds out there with dry powder that are going to need help sorting through the wreckage - go work for them.

"Bulls take the stairs, bears take the elevator"
"Sell a teenie, lose your weenie"

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Mar 14, 2020

I hope you're well. You remembered correctly - I was laid-off from Merrill Lynch (along with 95% of my fellow analysts) subsequent to the merger with Bank of America. I was out of work for 10 months as the fallout from the Financial Crisis settled.

To say it required an adjustment is a great understatement. I was technically living with my parents the entire time, though I had a girlfriend who lived on Wall Street, and I spent nearly all my waking hours at the office. Truly living with my parents was a bit of a different story (nothing bad, it's just that they'll always be your parents, and they'll act accordingly). Also, due to the stress and the late nights associated with the job, I had gained a substantial amount of weight. My first priority was to get my health in order. I would go to the gym first thing every morning, so that I would start each day energized and with a feeling of accomplishment. It's something over which I had near-total control, and I began to see results rapidly. I think that ultimately had the greatest positive effect on my outlook. I'd suggest you do the same, if you're not already doing so. Health is truly the foundation for everything.

I've recently started meditating for 15 minutes every day using the Headspace app. My mind tends to be all over the place, and I often have difficulty focusing. I've noticed a definite improvement in my concentration, and my anxiety levels have declined substantially. Check it out.

I guess this next part is the hardest to accept, and I don't mean to sound patronizing: shit happens. If I've learned anything in my 33 years, it's that I can't predict the future, but I can do my best to prepare for it. When the unexpected or undesirable occurs, I just accept it, and look for ways to move forward. There are often opportunities to be found. For instance, I hated my job at Barclays, but it provided a good living. I just never felt fulfilled. Ironically, the long, shitty hours I put in ended up contributing a broken engagement with my first fiancee. This freed me to meet my current fiancee, who is from Norway. She gave me the courage to resign from Barclays last May, and I moved to Norway shortly thereafter. I'm currently bartending, since I'm learning the language, and I think it's a good way to do so. I don't know what the future holds for me from a professional standpoint, but I'm excited to see what's in store.

I'd say to take this time to focus on yourself. It can actually be a positive experience. You have an awesome resume, and the right people in finance will notice.

Excuse these groggy ramblings - I just woke up.

Let me know if you need anything at all. Skyping might be beneficial. I find it's always more of a release to actually speak with someone.

Best,

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Mar 31, 2020

.

  • Prospect in Other
Mar 16, 2020

So it would be a good idea to start emailing HR regarding my FT offer? I had thought it would be a good idea not to bother them amidst everything, as they probably don't know much themselves at this point. (Not IB though) Would appreciate any input

Mar 19, 2020

In the same boat. Bump

Mar 14, 2020

This guy is correct

Mar 15, 2020

Hey how come no one ever talks about BAML? Anyway last Friday BAML emailed stating that the internship will go as planned. They didn't mention anything about the virus in fact. Maybe we shouldn't overthink as well? These guys are not likely to rescind the offers, it could only be postponed at worst.

  • Intern in IB - Ind
Mar 15, 2020

Hmm I didn't get that one. Was that not the email saying their on boarding Platform wasn't working?

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  • Prospect in IB-M&A
Mar 15, 2020

Can confirm that BAML FT has no changes as of now.

Mar 15, 2020

I didn't receive any mail about a broken platform. My internship is at London, I got a mail about resumption dates. Are you London as well?

Mar 15, 2020

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Mar 15, 2020

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Mar 23, 2020

If you had asked me a few days ago, I would have said that it's all up in the air.

Now, I at least have one data point out of IL suggesting that the curve may be starting to bend. In Wuhan province, new cases peaked about 12 days after they locked everything down, and this is coinciding with the bend in the curve for IL and a couple other states today.

I'll have a bit more confidence with 3-4 more days of data. I am not an epidemiologist, but I can do stats, and I can say when something is statistically different from what we'd expect.

If IL and CA are aggressive, and the curve really is bending, there's a better than 50/50 chance that this gets wound up before the end of May. I need to review New York some more-- the situation is really bad there.

We'll know more in two weeks and we'll know a lot more by May 1st.

That said, if there is anyone out there with a web development background who wants some backup work-from-home work, let me know.

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Mar 23, 2020

If NY is the only state where active number of cases aren't declining in May, do you think its possible that interns at regional offices (SF, LA, Chicago) will still be able to work in the office this summer, even if all of NYC is still WFH?

Array

Mar 23, 2020

That will probably be a call for campus recruiting; not the rank and file or the middle-management people you'll be directly reporting to.

I'm sure the Chicago guys would be fine with it, but what message does that send, is it fair, yadda yadda yadda. (Irony of ironies if it was a problem in Chicago, NYC wouldn't care.

  • Intern in IB - Gen
Mar 29, 2020

You're believing numbers from Wuhan. HAHAHA

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Mar 24, 2020

I'm far removed from bank hiring programs... although this just came across my feed.

JPM-firm-wide-hiring-freeze

  • Analyst 1 in Other
Mar 24, 2020

From the article: "JPMorgan Chase & Co. froze hiring across most of the firm as millions of people stay at home to help stem the spread of the coronavirus, according to people familiar with the matter.

The bank asked managers in businesses including the corporate and investment bank, the consumer unit, and the asset- and wealth-management group to review job postings and pull listings for roles that don't need to be filled immediately, said the people, who asked not to be identified discussing the private plans.

The global hiring restrictions are a reaction to uncertainty about the direction of the global economy and logistical challenges related to arranging in-person interviews with job candidates, the people said.

JPMorgan, the biggest U.S. bank, also delayed bringing new recruits into the bank until April 20, but will pay new hires from their original start dates, another person said."

So it seems like they're stopping interviews at least in part because of logistical concerns of interviewing during the COVID-19 crisis, but it also appears like they're not reneging on lateral hires they've already made. They're just delaying onboarding of lateral hires and will even pay those hires during the delay.

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Mar 29, 2020
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