Credit Suisse Summer 2020

Intern in IB - ECM

Does anyone have any news/rumors on any changes CS (NYC) will make to Summer 2020? Obviously nothing is confirmed yet since they haven't sent out any additional updates but I'd imagine there must be an announcement soon given recent moves by other banks.

Comments (276)

  • Intern in IB - ECM
Apr 9, 2020

Just got email from HR. Postponing the start date and shortening the duration but no specific dates mentioned yet. Full pay for the summer despite shortened program. No mention at all of a digital/remote program. "More updates will be provided".

  • Intern in AM - FI
Apr 9, 2020

Anyone else able to confirm? Also locations?

  • Intern in IB - ECM
Apr 9, 2020

This is for NY IBCM - HR sent email this morning. They said "all locations" but I can only confirm NYC

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  • Prospect in IB-M&A
Apr 9, 2020

any news about full time conversion ?

  • Intern in IB - ECM
Apr 9, 2020

No mention of it in email

  • Prospect in 
Apr 9, 2020

any more info?

Apr 9, 2020

I also recieved the same email from nyc hr just now.
Same case for private banking in hk.

  • Prospect in 
Apr 10, 2020

is this for all offices? do you guys foresee full remote program? FT offers like moelis/citi?

  • Intern in IB-M&A
Apr 10, 2020

not mentioned and said more details to be updated

  • Prospect in Other
Apr 10, 2020

Honestly kinda hoping for a remote program at this point

  • Prospect in IB - Gen
Apr 10, 2020

Why would you ever prefer that?

    • 1
  • Prospect in Other
Apr 10, 2020

I don't prefer it persay, but my hype for the internship kinda died when this whole pandemic started. I think either way we're gonna get a different experience from years past. That also doesn't include the logistical challenges for some people having to sort out housing for a shorter amount of time. Although the situation is fluid, I, like many others, just want more concrete details on what is happening this summer.

    • 3
Apr 10, 2020

I just wish they would clarify the details asap, suspense is killing me :(

    • 1
  • Intern in IB - Gen
Apr 10, 2020

Did Barclays provide update in the last few days?

    • 1
  • Intern in IB - Gen
Apr 10, 2020

Nope, nothing since March 19

Apr 10, 2020

They hate us :/

  • Prospect in 
Apr 11, 2020

Any news for HK interns?

Apr 11, 2020

deleted

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  • Prospect in Other
Apr 11, 2020

Also IB SA in NYC but I haven't received this email?

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  • Prospect in IB - Ind
Apr 11, 2020

email on the weekend?

  • Prospect in 
Apr 12, 2020

Any other details?

  • Prospect in IB - Gen
Apr 11, 2020

NYC global markets - only received the first email as outlined above which said "more details to follow". Did not receive anything with specific dates. Have heard a number of other banks have pushed to July 6th so would not be surprised if this is true, but still awaiting confirmation on date and FT offer policy

  • Intern in IB - Gen
Apr 11, 2020

Same. Can confirm that the four European BB's have been rather vague about everything, i.e. start date, duration, pay, FTO, etc., unlike US peers..

  • Prospect in S&T - FI
Apr 11, 2020

Not crazy...takes a couple extra days to head back to headquarters, walk through that red tape back there before giving the go ahead back in the US. Works that way with large business transactions/risk also, not surprised to see them moving a bit slower on this.

Pure speculation, but I feel like since they are slightly smaller or less prestigious than Citi, MS, GS, JPM they probably want to do just enough to keep up with those big top few firms and not hurt their future recruiting, but don't want to burn cash for the sake of it, therefore they'll be reacting to Goldman's and JPM's decisions rather than blazing the trail

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  • Prospect in 
Apr 12, 2020

What's the conversion rate for the NY office typically?

  • Intern in IB - ECM
Apr 13, 2020

Just heard from CS recruiter that they'll follow up with a more specific email later this week. She said it should answer all of my questions (confirmed start date, potential of remote/digital program, and potential of automatic full-time offers). This is IBCM NYC but I believe these communications pertain to all CS SAs

    • 8
Apr 13, 2020

Wait you explicitly asked about automatic full time offers? Mah Man

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  • Analyst 1 in IB - Ind
Apr 13, 2020

hey if he did he did, he is looking out for tha gang, i respect it

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  • Intern in IB - ECM
Apr 13, 2020

Ofc my G even threw in a "like Citi and Moelis have" after

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  • Prospect in IB-M&A
Apr 13, 2020

Lmfao there we fucking go keep the grind going. Was this over email? Care to share how you worded it? I may email my bank

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Most Helpful
  • Intern in IB - ECM
Apr 13, 2020

"Given the cirucmstances, is Credit Suisse considering extending full time offers to all interns, similar to Moelis and Citi?

Should the current situation continue, is Credit Suisse considering remote internships?"

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Apr 13, 2020
  • Prospect in 
Apr 13, 2020

nice

  • Prospect in 
Apr 15, 2020

any updates?

  • Intern in IB - ECM
Apr 15, 2020

Not yet. Will post when they email

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  • Analyst 2 in IB - Ind
Apr 15, 2020

CS analyst here, internships will not be cancelled. Can understand your frustration but stay tuned for update this week/next.

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  • Intern in S&T - Other
Apr 15, 2020

will CS follow the suits of Citi and Moelis to give 100% FT offers?

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Funniest
  • Associate 2 in Other
Apr 16, 2020

No. In fact, quite the opposite. After the internship ends we will singlehandedly fire all of you.

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  • Intern in IB - ECM
Apr 16, 2020

HR Update: program will be July 6 - August 21st (extended end date). No mention of full-time offers and no mention of remote/virtual. Wording of email sounds like they expect us to report in-person and they mention "updates to come on travel arrangements"

  • Intern in IB - Gen
Apr 16, 2020

not sure how I feel about the delayed end date, my classes begin five days later

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  • Prospect in IB-M&A
Apr 16, 2020

who cares, your classes will be online anyway.

    • 5
Apr 16, 2020

Which city and when did you get this email?

  • Intern in IB - ECM
Apr 16, 2020

NYC IBCM - a half hour ago

  • Intern in IB - Gen
Apr 16, 2020

Sounds like CS is being promising. At least not so bad now. Good job everyone.

  • Prospect in 
Apr 16, 2020

do you think we will be working remote?

  • Intern in IB - ECM
Apr 16, 2020

Didn't sound that way at all since they mentioned travel arrangements. Sounds like they expect a normal internship. I emailed HR and asked if it's safe to secure housing yet or if the dates are still tentative, so I'll post here what they say

    • 3
Apr 16, 2020

They did mention this though, "Despite any adjustments we make to the program, our summer interns are the primary funnel for our 2021 full-time class and we want to see you succeed in getting there."

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  • Prospect in IB-M&A
Apr 16, 2020

Does not mean that everybody gets a FT, just that there will be FT offers which we know

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    • 1
Apr 16, 2020

Would you mind quoting the entire email if possible? : )

  • Prospect in IB-M&A
Apr 16, 2020

hahaaaha you are the crazy BAML intern, we spoke about you in the office

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  • Intern in IB - ECM
Apr 16, 2020

"...Our primary goal is to enable you to learn and grow by first-hand experiencing our firm's culture, people, businesses and the impact we make globally. Despite any adjustments we make to the program, our summer interns are the primary funnel for our 2021 full-time class and we want to see you succeed in getting there.

The current planned start date with Credit Suisse is Monday, July 6th and the program is currently slated to go through Friday, August 21st. We will notify you shortly with updated details of the summer program and also instructions in making travel arrangements...."

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  • Prospect in 
Apr 16, 2020

this doesn't mean anything

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  • Prospect in Other
Apr 19, 2020

is it still in-person internship or virtual? any news about the FT conversion?

  • Intern in IB - ECM
Apr 19, 2020

In person. No news about FTO. Since they plan on having a real 7 week internship I'm assuming FTOs will be decided as normal

  • Prospect in Other
Apr 16, 2020

NYU housing ends on the 15th. Is Airbnb the only option in regards to staying that extra week since they extended the end date?

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  • Intern in IB - Ind
Apr 16, 2020

This is the only bank that sounds like they are planning to have people in the office at some point in the summer the SA period?

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  • Intern in IB - ECM
Apr 16, 2020

Yeah lol I'm confused how CS makes this announcement the same day JPM announced a full virtual program. Not sure how they're on such different pages with this

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  • Intern in IB - Ind
Apr 16, 2020

Exactly this is a shitshow, and now some "Analyst 1" is going to come out and rant about how we're all "whiny" and "ungrateful" fuck off and go back to turning your comments

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  • Prospect in 
Apr 16, 2020

Yea

  • Prospect in Other
Apr 16, 2020

I agree. Either the BB's were not communicating as much with each other as we thought they were or CS is taking a more optimistic viewpoint of the whole situation. Either way it is super strange

  • Intern in S&T - FI
Apr 19, 2020

The real question is obvious - will they still be giving the summer interns CS patagonia vests?

That's why I wanted the internship in the first place...

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  • Intern in IB - Ind
Apr 19, 2020

Is CS the only BB that hands those out to interns? Never heard of interns getting those

  • Intern in S&T - FI
Apr 19, 2020

CS summer analyst from my school said they did last summer...made it sound like it was given out to everyone, idk, maybe not

  • Intern in S&T - FI
Apr 19, 2020

Is it fair to say that FT offer rate will be lower than previous years given the economic downturn and resulting slowdown in ECM, DCM, M&A, LevFin, CRE + other types of lending, and other profitable business arms of the firm?

  • Intern in IB-M&A
Apr 19, 2020

Unfortunately, this is one of the few years where it isn't fair to say anything. Literally anything can happen, could be all auto-offers or could be 20% return rate. Unfortunately only time will tell, all the theorycrafting and hypothetical scenarios in the world won't help. It's just that unpredictable of a climate homie

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  • Intern in IB - Ind
Apr 21, 2020

Yeah, this is exactly right. Nobody knows - and if anyone did, it wouldn't be the "prospects" and "interns" on this site anyway (myself included). All we can do is go in this summer and perform. And even for those lucky enough to get return offers that doesn't mean job security will be as high as usual for FT analysts

    • 1
Apr 22, 2020

Any updates?

  • Intern in IB - Gen
Apr 23, 2020

They're taking quite awhile to get back to us after last week's email... Anyone else think they ma change their mind and do a virtual internship?

    • 1
Apr 24, 2020

Really hoping for a virtual program now

Array

Apr 24, 2020

How come ? Don't you prefer in person

  • Intern in IB - Ind
Apr 24, 2020

Don't wanna speculate but I doubt they'd walk back on their announcement from barely a week ago this fast

  • Intern in IB-M&A
Apr 24, 2020

There is no point in speculating! Presumably, they haven't made a decision, or else they would have let us know.

  • Intern in IB - Ind
Apr 24, 2020

Any word on when group assignment decisions will come out?

  • Intern in S&T - FI
Apr 24, 2020

They're going to have to send out a new contract and more official docs, maybe they want to delay sending those out until they're more certain that we will go in person on July 6th...Right now anything really is possible, maybe in a few weeks they have a better sense and are more confident, reach back out with the contract or with another alternate plan (virtual?).

Right now the plan is their best guess, but they honestly probably don't really have anything else to tell us...

  • Intern in IB - Gen
Apr 24, 2020

I still don't understand how they possibly plan to have people from all over in their offices by July IN NYC of all places...

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  • Prospect in S&T - Equities
Apr 24, 2020

Agreed, same situation with a friend interning in the London office. Right now plans are still physical, which really seems like an impossibility. Hopefully the fact that they haven't announced virtual is good news though, it means that the not giving out of FT auto-offers was based on the idea that we'd still be able to come into the office and actually get a chance to prove ourselves in an actual internship. With the eventual realisation that the internship will have to be a bs virtual internship that disadvantages many candidates and doesn't provide a meaningful way to differentiate between interns, auto-offers may very well be extended. Wishful thinking, but CS has got an awesome culture and on a comparable level to Citi so it's possible

    • 2
Apr 27, 2020

Today, I received an email from HR that it is now considering virtual internship program. HR, however, highlighted that it is still just an option that CS is discussing at the moment. Nothing mentioned about automatic full-time offer.

Array

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  • Intern in IB-M&A
Apr 27, 2020

Would you mind sharing what location you belong to? Thanks

  • Prospect in IB - Gen
Apr 27, 2020

Received the same email, I am based in APAC.

  • Intern in S&T - FI
Apr 27, 2020

What location and group are you? I'm supposed to be at NYC office and didn't receive this email...curious if they're just waiting until later to send to us, or if will have different plans for different offices

  • Prospect in Other
Apr 28, 2020

which location?

  • Intern in IB - Ind
Apr 28, 2020

Update: Was emailing back and forth with NY IBCM HR, I asked if it's safe to secure housing for the revised July-August internship dates and they replied "We are still finalizing details of orientation and training, and we'll share another update with you shortly."

Apr 28, 2020

is this for the internship?

Array

  • Intern in IB - Ind
Apr 28, 2020

yeah IBCM SA

Apr 29, 2020

So NYU has cancelled summer housing for 2020 and refunding all deposits. I have no idea where I'm going to live for the summer if they go forward with in person on July 6. What are you guys thinking for housing? I am very surprised they have not updated us yet its been close to two weeks.

  • Intern in IB-M&A
Apr 29, 2020

chill lol, its not rocket science to book a airbnb for the summer dude

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  • Prospect in S&T - Other
Apr 30, 2020

Do you know how expensive airbnb is dude

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  • Prospect in IB - Gen
Apr 30, 2020

I'm in the same boat and am growing a bit concerned myself.

  • Intern in IB-M&A
Apr 30, 2020

you students nowadays are drama queens

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  • Intern in IB - Ind
Apr 30, 2020

I really doubt that we'll be able to do this in person. I'm waiting until the next email before I think about booking housing.

Remember we're starting in July now so we really have a month and a half to book housing before it gets late.

  • Intern in IB - Gen
Apr 30, 2020

definitely wait to book housing.... you guys seriously think CS is gonna be the only bank on the street to fly in their interns from all over the world for the summer? you're buggin...wait til at least the next email because you can get an apartment within a week of move in in New York, if not also other major cities. everyone here needs to take a deep breath or maybe a xan lol..

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  • Intern in S&T - FI
Apr 30, 2020

The last few emails have been sent on Thursday...keep refreshing my email...

  • Analyst 1 in S&T - Equities
Apr 30, 2020

Damn how come only some people got the email updates? HR didn't send me anything

NYC S&T

  • Intern in S&T - FI
May 4, 2020

Anyone hear from HR or their teams about any differences once we start the summer? Be it logistics, working from home some days, hours, intern programming etc.

Curious if anyone has found out any other info

  • Intern in IB - Gen
May 5, 2020

I reached out to HR and heard back yesterday that there is no update yet but they're aware that housing options are changing (NYU dorms closed, etc) and are working to update us...still not sure if that means we should find new housing but maybe if we're lucky we'll hear before June lol

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  • Intern in S&T - FI
May 5, 2020

Edited - they just sent out an email

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  • Intern in S&T - FI
May 5, 2020

Wasn't from head of recruiting so maybe not everyone got it yet. Basically just said we know there's some questions, we'll be in touch with more details, if you have questions or concerns feel free to reach out

  • Intern in IB - Gen
May 5, 2020

yea and they plan to update us mid may again

  • Prospect in IB - Gen
May 5, 2020

Yeah I didn't get any email today. Should I be concerned?

  • Intern in IB - Gen
May 5, 2020

it was from the recruiter I communicated with so I think she realized people had questions and sent out a quick update. the mass email I received was addressed to global markets interns and the recruiters are group dependent so it wasn't from the head of campus recruitment

  • Intern in IB - Gen
May 5, 2020

They love saying "feel free to reach out" but never have answers when you do

  • Intern in IB - Gen
May 5, 2020

HR Update NY IBCM: no changes, still planning to do the internship in-person starting July 6th. Another update will come mid-May

  • Prospect in IB - Gen
May 5, 2020

My money is that it will be virtual. They probably didn't have the capabilities before but ramped up in the past couple of weeks to be able to do so. No way they would be one of the few banks on the street making their interns come in.

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May 6, 2020

I would think interns would want the internship in-person. I'm not sure how you judge group culture over zoom, let alone network... Especially given that CS hasn't handed out automatic full-time offers, I can only imagine the cringe shit people will be doing over zoom if it is virtual.

May 11, 2020

Should we expect an update this week? And, do you guys think that auto-FTO are possible?

Array

  • Intern in S&T - FI
May 11, 2020

I would expect something this week, I've heard further updates mid may but of course idk for sure

Depends...if they go virtual I think we get offers, if they somehow can manage to get us into the office then not

May 14, 2020

Any updates?

Array

  • Intern in IB - Gen
May 14, 2020

To those who expect auto-FTO: you do realize that several other BBs have gone remote and still not offered FTOs, right?

I'm not getting my hopes up.

  • Intern in IB-M&A
May 14, 2020

The most comparable firm to Citi is CS so if any firm was to follow through, CS would be the most likely so firms like JP going remote is irrelevant. Was a very realistic assumption before, but the hope has been dwindling day by day unfortunately

  • Intern in IB - Gen
May 14, 2020

But the fact that they said we'd be in office and then switch to virtual might tip the scales in our favor, as opposed to if they said the whole time "virtual". Pure speculation, can hear it both ways, but I think the odds of it at least get a bit higher.

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  • Intern in IB - Ind
May 15, 2020

Seriously? With FT offer or not?

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  • Intern in IB-M&A
May 15, 2020

No way, can you elaborate please? Find it hard to believe that they'd just outright cancel the internship and leave you out to dry, were you offered anything in exchange?

May 15, 2020

can you share the email content?

Array

May 15, 2020

can you share the email?

May 15, 2020

Delete

  • Prospect in IB-M&A
May 15, 2020

Proof?

    • 1
May 15, 2020

PM me

  • Intern in IB - Ind
May 15, 2020

Sorry to hear this. I guess this should be in Singapore, right?

  • Intern in IB-M&A
May 15, 2020

How will they make it up to interns? Completely unheard of for a BB to just cancel an internship and offer nothing in return

    • 1
May 15, 2020

I'm quite surprised to hear this though. APAC non-S&T here, have not received further updates regarding format/FT offers

May 15, 2020

any news for NY?

Array

May 15, 2020

they didn't give us an update this week...

Array

  • Intern in IB - Gen
May 15, 2020

Yeah this is kind of worrying...

  • Intern in IB - Gen
May 15, 2020

Why? It's obviously going to be remote (or some short training program like other BBs have done). Banks are rumored to be out of office until September/October. Really doubt we get to go in July 7th or whatever. They're just waiting until the last minute.

May 15, 2020

What is the historical full time conversion rate for interns in IB and S&T?

  • Intern in IB - Gen
May 15, 2020

(100 minus the current 10yr/2yr spread)%

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  • Intern in IB - Gen
May 16, 2020

Very funny, haha, but that would mean that during times of impending recession the offer rate would be higher! #InvertedYieldCurve

May 18, 2020

I will be joining S&T in APAC region and never heard anything about CS cancelling the program.

    • 1
May 18, 2020

SA or FT?

  • Intern in S&T - FI
May 18, 2020

Echoing this. Joining HK S&T this summer and haven't heard anything

is this an SG thing?

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May 19, 2020

anyone heard back from NYC HR?

Array

  • Intern in IB - Gen
May 19, 2020

Nothing....honestly, a bit weird at this point...it's now less than 6 weeks from the supposed start date and still don't know if I'm making housing and flight arrangements, getting 2 monitors to work from home, or buying a whole lot of beer and a beach chair...

    • 9
May 20, 2020

I think you should get the beers and beach chair regardless. God knows we could all use a little stress relief these days...

  • Intern in IB - Gen
May 22, 2020

I guess you just got your answer....a monitor or two and definitely the beers

  • Intern in IB - Gen
May 21, 2020

Any word on group placements?

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  • Intern in IB - Gen
May 21, 2020

Nah

May 22, 2020

For those who are joining APAC region, do you know which desk you will be at?

Array

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  • Intern in IB - Gen
May 22, 2020

Are other banks being this inconsiderate with their communication?

Supposed start date is first week of July but we'd almost certainly have to cancel any housing plans that we make because the internship will need to be remote (despite what CS says).

No information on group placement? No communication from HR? Still waiting on our "mid-May" update.

    • 1
  • Intern in IB - Gen
May 22, 2020

UPDATE: Email from Head of recruiting.

Going Virtual, July 6th start, taking away the relocation bonus, no real mention of what program will look like and how we will be doing work. I guess more news to follow. NO mentions of Full-Time offers...

"As we have communicated, we continue to review the current situation with a view towards protecting all of our employees. Given the current challenges, we have decided to move our program this year to be a full virtual internship experience. This means that you will not be expected or permitted to come to the office. While this is a departure from what many of you expected, we believe that it is the safest option and that we can deliver a good learning experience through a remote setting."

  • Intern in IB - Gen
May 22, 2020

note: full salary still promised (less relocation stipend) regardless of ammended internship dates

  • Intern in IB - Gen
May 22, 2020

This is true. Curious if OT will be taken away/will ever even be done...

Annoying getting that bonus taken away, live in NYC, was going to live at home and pocket the cash, but I guess 10 weeks salary for 6 weeks of sitting at home is aite

  • Intern in IB - Gen
May 22, 2020

NY

  • Intern in IB-M&A
May 22, 2020

Still no update for London, bruh it's getting a bit ridiculous

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May 24, 2020

Did you'll get a confirmation email when you filled in the survey? I didn't get one.

  • Intern in IB - Gen
May 24, 2020

No

  • Intern in S&T - Other
May 27, 2020

APAC S&T Intern yet to receive news about format. Anyone same?

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  • Intern in IB - Gen
May 28, 2020

any thoughts on conversion rate this year...

    • 1
  • Intern in IB - Gen
May 28, 2020

Ngl I feel like it's gonna be lower than in the past. Pessimistic side of me is thinking 50-70%.

    • 1
  • Intern in IB - Gen
May 28, 2020
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  • Intern in IB - Gen
May 28, 2020
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  • Intern in IB - Gen
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  • Intern in Other
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  • Intern in IB - Gen
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  • Intern in IB - Gen
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