Megalist - changes to NYC 2020 SA
NYC epicenter of covid positive cases. Post here of CHANGES to only NYC IB SA. We'll assume no changes. I'll try to update this list as more news come in. If you don't want to post, send PM.
AS of 3/29
BB/MM - No changes Goldman Sachs, Morgan Stanley, J.P. Morgan, Citi, BAML, Barclays Capital, Credit Suisse, Deutsche Bank, UBS, Wells Fargo, Nomura, RBC, HSBC, TD Securities, Mizuho, Jefferies, BMO
EB - No changes Blackstone, PJT Partners, Lazard Freres, Evercore, Moelis, Greenhill, Qatalyst, Centerview, Allen & Co, Perella Weinberg Partners., Rothschild, Houlihan Lokey, Guggenheim, Macquarie Harris Williams
As of 3/29, NYU housing
closed for spring semester. Source: NYU Spring housing
still accepting housing reservations for summer. Post here if this changes. Source: 3/23 NYU housing webpage
As of 3/29, Coronavirus NY stats:
Source: Covid Tracking
NYC only: 30k positive. New York State: 52k positive, 10k hospitalized, 728 dead.
100% of the workforce must stay home, excluding essential services (IB not essential). No end date announced
All non-essential gatherings of individuals of any size for any reason are temporarily banned (including IB activites).
No changes so far to any BB, EB, or MM just people throwing around false claims to rile everyone up.
JP Has pushed back dates for FT and Internships.
Not true in the US. This has already been debunked but go on keep giving me MS.
Really?? As an incoming FT analyst, I have heard nothing in regards to change of date. Giving you benefit of doubts here, but plz clarify...
as of 3/23, NYU housing will still be available and school still accepting housing reservations. Post here if this changes. Source: https://www.nyu.edu/students/student-information-and-resources/housing-…</a">3/23 NYU housing webpage
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lmao @ Jefferies being an EB- maybe make a MM section
Dude who cares OP is just trying to be helpful
You are the only one not being helpful...
How would you compare Jefferies to RBC/DB/Greenhill
Dude seriously. This is a thread for figuring out if people have lost their jobs, not for arguing pointlessly about rankings.
RBC
Greenhill
Jeffries
DB
They're all the same because you don't have a job / offer at any of them...
why all the ms
thanks for all the ms
oh here we go...
Greenhill Jefferies DB RBC in that order. What do you think?
The bottom line is all mm, maybe OP could highlight that. Also it's PJT not Blackstone.
From FT BAML IB: background checks are going to be postponed. There are no changes to offers.
How do you know that? Did you get an email or hear directly from HR?
Emailed program manager and received response
Nothing except robust experience email for me as well
confirmed background checks delayed. HR email
Is this BAML???
Is this an email to all incoming FT? If so I did not get it
more time to smoke Js
that's all there is to do...
drink smoke trip balls and work out a lil
rbc emailed today saying no changes have been made, but they're monitoring the situation
Their email didn't seem as hopeful as some of the others posted here. No mention of alternative accommodations but very well may just be reading too far into it.
i mean it didn't sound amazing, but i think that's reading too much into it for sure
How is Mizuho and Nomura MM shops? I thought they were well below the traditional middle market form such as Wells
The OP is just trying to help out, relax
Relax? I literally just asked an objective question about the bank. Looks like we found the Mizuho analyst on this thread
Relax? I literally just asked an objective question about the bank.
wells isnt even traditional MM, can you please just go back to the summer 2021 thread?
This isn't helpful. My comment about Mizuho and Nomura has not been answered. You telling me they are on par with WF/HL/RBC?
Obviously not IB but im hearing LEK canceled summer internships and will give full-time offers to their entire intern class. Can anyone confirm?
This is true. They are cancelling internships. They are extending fulltime offers to the interns. FT start date is getting pushed out to Oct
What does that mean "offering extending fulltime offers"??
It's not listed here so not sure if people are interested, but PJT Partners also sent out an email saying "no changes as of right now".
I would be very surprised if summer internships were not held remotely at this point
Same. How exactly would remote internships work for divisions or teams that deal with highly sensitive information?
I disagree, the timeline is too far off as of now to make any prediction. So much is changing every week. SA starts around early June I wouldn't be surprised to see offices resume as normal with some more distancing rules perhaps.
So it'd be a good idea to have hundreds of interns from across the globe in places with different levels of exposure congregate during training as well as the actual internship?
Credit Susie SF and Evercore dropped their Canadian interns (the ones going to school in Canada, no idea about Americans at school)
Is that due to border/visa issues?
All internationals were dropped at Evercore(basically anyone needing to be sponsored).
When and why?
That is absolutely not true
I doubt thats true - kids at American schools who don't need to cross the border are probably fine. Its just the kids who go to Canadian schools who got fucked
I doubt thats true - kids at American schools who don't need to cross the border are probably fine. Its just the kids who go to Canadian schools who got fucked. Also FT kids are so far safe (last I heard)
Source?
The border is shut down my man. Feel sorry for any Canadians at US banks who will probably get reamed by this - mostly Ivey, Queens, McGill kids
I go to a top target in Canada and worked on the street last summer so I know most of the people involved
I know this is not banking but still relevant. Google interns are being moved to a virtual internship.
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A friend is doing something along the lines of computer engineering in Silicon Valley.
Here is a master list of most tech companies' internship status: https://github.com/gcreddy42/hiring2020
Can confirm Lazard sent out an email that there are no changes as of now, but they are looking at contingency plans and will send an update on April 15th. Not sure what the update will be.
Friend at Laz said her team has been onboarding FT analysts remotely. Not sure what approach Laz will take toward interns in this scenario but I would say remote internship is not out of realm of possibility.
Thanks for the info! I am just hoping we do not get a status update along the lines of “you are screwed”
Not SA but MS promises no layoffs in 2020: - https://www.axios.com/memo-morgan-stanley-layoffs-2020-9efcda02-d24c-42…
Seems like a decent sign for how big banks will handle this in the U.S
And now Citi follows suit!
Source for Citi? Can you please post the link? Can't seem to find it
Don’t see evidence for this anywhere
baml as well
mm bank emailed us today to hold off on scheduling our flights to HQ for first week of training
.
KBCM/Cain - no changes so far, will send an update to interns mid-April.
What about BAML? I heard internally things might not be looking to well.
"Bank of America will not lay off any staff due to coronavirus in 2020" - Brian Moynihan, CEO Source: LinkedIn Page
https://www.cnbc.com/2020/03/27/bank-of-america-ceo-doesnt-want-employe…
What do u mean
Well it’s not really “laying someone off” if you never onboard them in the first place. So if HR goes ahead and cancels internships/FT, I don’t know if that is considered a loophole to the company statement(s) above.
BAML sent out an email to incoming 2020 Class. No lay offs. We will be paid on designated start regardless of work or not/communicated start date pre-virus. I think training will be virtual which is why they will pay us on our start dates.
I heard from a source high up inside BAML that internships across all divisions are highly being considered to be canceled. I can't say for sure as there isn't a notice that was given out yet, but hopefully that doesn't happen.
department (IB? HR? risk?) and geography (NY or not NY) of your source
All divisions and NYC
I heard about this as well, but only for programs based in NYC and Charlotte
What is your source?
Can you expand on this more. Was the source someone in HR? also did they say about other opportunities BAML may offer if this was to occur. Also, I think that if one bank does virtually they all will because it would look very poorly on that specific bank.
You are wrong. BAML sent out an email for FT class of 2020. We are good to go baby thank you mr Moynihan
This was just fake news. They sent this out today, directly from Bank of America: "We would like to reinforce your job is secure, and you will be paid beginning on your currently scheduled start date (June, 2020)."
Great to hear! Just to clarify, I am hearing this was sent to FT hires, but the original start date was June 2020 (which sounds like SA program). Does this mean the communication went out to both FT and SA 2020 hires? Thanks!
Attended a recruitment webinar for Evercore yesterday and HR lady mentioned that they are "fully ready and preparing" for their SA program to be virtual this summer.
Not necessarily doubting this but can someone from Evercore confirm?
Just to clarify, they aren't 100% for sure on it yet, but seems like they're definitely prepping for it if things continue on as they currently are. Also, not sure this adds any more legitimacy to it, but it was said at the virtual women's symposium yesterday, so if anyone else who was there wants to pitch in on what was said, go for it.
Interning at a MF in their credit investing arm, was told by HR last week that no changes are planned and that worst case I'll be started virtually.
I fear this is a situation where if one bank pulls, others will follow. Hopefully we dont have to get to that point.
Not to split hairs here - but “no end date announced” isn’t totally accurate. Cuomo extended PAUSE (non-essential businesses shut down) until 4/15. I agree with the sentiment it’s likely to go beyond that, but as it stands the “end date” of the current order is 4/15.
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Any updates have heard a lot of people saying that a virtual internship is most likely a go for the summer heard from HR? Also, NYU housing is on for the summer with possible cancelation later,
Received an update on IB division, BB, NYC. Start date may be delayed, but program will happen with pay starting from original start date.
Well at least that confirms pay for most of us. Banks will tend to follow each other here I'd think.
Pretty sure we're at the same bank since I got that too, they also talked about a survey they're sending out later this week to figure out logistics.
can you guys say which bank?
BofA just emailed all interns saying their job is safe and they will be paid at their current start date, despite if needed to be pushed back.
Yeah, incoming BAML SA here and got the same email.. hoping all the BB's send out similar notices soon for y'all
honestly, I think they will. Really impressive of BAML to be the first though. Says a lot about the firm
since BAML sent that email, I think that BBs will follow and will be safe. what about MM IB? do you guys think MM will follow BBs in this too, or do you think MM responses could be different?
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