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

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).

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Comments (148)

  • Intern in 
Mar 23, 2020 - 11:50am

No changes so far to any BB, EB, or MM just people throwing around false claims to rile everyone up.

  • Intern in IB - Cov
Mar 25, 2020 - 4:43am

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...

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  • Incoming Analyst in IB - Gen
Mar 24, 2020 - 10:08am

lmao @ Jefferies being an EB- maybe make a MM section

Mar 24, 2020 - 12:00pm

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

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  • Intern in 
Mar 24, 2020 - 7:06pm

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.

  • Prospect in Other
Mar 25, 2020 - 12:23pm

Obviously not IB but im hearing LEK canceled summer internships and will give full-time offers to their entire intern class. Can anyone confirm?

Mar 25, 2020 - 2:54pm

Same. How exactly would remote internships work for divisions or teams that deal with highly sensitive information?

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  • Intern in 
Mar 25, 2020 - 2:59pm

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.

Mar 25, 2020 - 3:08pm

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?

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  • Incoming Analyst in S&T - FI
Mar 25, 2020 - 5:20pm
lost_canadian:

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?

Mar 25, 2020 - 8:51pm

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)

  • Analyst 1 in IB - Gen
Mar 25, 2020 - 7:55pm

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

Mar 25, 2020 - 9:00pm

I know this is not banking but still relevant. Google interns are being moved to a virtual internship.

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  • 1
Mar 25, 2020 - 10:58pm

A friend is doing something along the lines of computer engineering in Silicon Valley.

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  • Intern in Other
Mar 25, 2020 - 9:09pm

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.

  • Incoming Analyst in S&T - FI
Mar 26, 2020 - 7:34am
Intern in Other:

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.

  • Incoming Analyst in IB - Cov
Mar 26, 2020 - 4:45pm

Received an email from BNP Paribas last week - looks like there are no changes to their 2020 SA program as of now, but wondering if anyone has heard anything else.

  • Analyst 1 in IB - Cov
Mar 26, 2020 - 10:02pm

KBCM/Cain - no changes so far, will send an update to interns mid-April.

  • Incoming Analyst in S&T - FI
Mar 28, 2020 - 12:20pm
parth7667:

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.

  • Analyst 1 in IB - Cov
Apr 1, 2020 - 6:33pm

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.

  • Prospect in S&T - Equities
Mar 28, 2020 - 7:15pm

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.

  • Intern in IB - Gen
Mar 28, 2020 - 11:17pm

I heard about this as well, but only for programs based in NYC and Charlotte

  • Prospect in PropTrad
Mar 29, 2020 - 1:14pm

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.

  • Analyst 1 in IB - Cov
Apr 1, 2020 - 6:34pm

You are wrong. BAML sent out an email for FT class of 2020. We are good to go baby thank you mr Moynihan

  • Summer Associate in IB - Cov
Apr 1, 2020 - 9:04pm

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!

  • Prospect in IB-M&A
Mar 28, 2020 - 11:46pm

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.

  • Prospect in IB - DCM
Mar 28, 2020 - 11:53pm

Not necessarily doubting this but can someone from Evercore confirm?

  • Prospect in IB-M&A
Mar 29, 2020 - 12:20am

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.

Mar 29, 2020 - 3:03am

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.

  • Prospect in PropTrad
Apr 1, 2020 - 3:43pm

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,

  • Prospect in PropTrad
Apr 1, 2020 - 4:06pm

Received an update on IB division, BB, NYC. Start date may be delayed, but program will happen with pay starting from original start date.

  • Intern in S&T - Comm
Apr 1, 2020 - 4:13pm

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.

  • Prospect in Other
Apr 1, 2020 - 6:08pm

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?

Apr 1, 2020 - 6:14pm

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  • Intern in IB - ECM
Apr 1, 2020 - 8:50pm

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  • Incoming Analyst in IB - Cov
Apr 1, 2020 - 9:24pm

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Apr 1, 2020 - 10:04pm

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