Megalist - changes to NYC 2020 SA

ch2intl's picture
Rank: Gorilla | 514

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).

Comments (148)

  • Intern in 
Mar 23, 2020

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

    • 2
Mar 24, 2020

JP Has pushed back dates for FT and Internships.

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  • Intern in 
Mar 24, 2020

Not true in the US. This has already been debunked but go on keep giving me MS.

  • Intern in IB - Ind
Mar 25, 2020

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...

Mar 23, 2020

as of 3/23, NYU housing will still be available and school still accepting housing reservations. Post here if this changes.
Source:
3/23 NYU housing webpage

Mar 24, 2020

-

  • Incoming Analyst in IB - Gen
Mar 24, 2020

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

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  • Analyst 2 in IB-M&A
Mar 24, 2020

Dude who cares OP is just trying to be helpful

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  • Prospect in IB-M&A
Mar 24, 2020

You are the only one not being helpful...

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  • Prospect in Other
Mar 24, 2020

How would you compare Jefferies to RBC/DB/Greenhill

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Most Helpful
  • Analyst 1 in IB-M&A
Mar 24, 2020

Dude seriously. This is a thread for figuring out if people have lost their jobs, not for arguing pointlessly about rankings.

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  • Intern in 
Mar 24, 2020
  1. RBC
  2. Greenhill
  3. Jeffries
  4. DB
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Funniest
Mar 24, 2020

They're all the same because you don't have a job / offer at any of them...

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    • 1
Mar 24, 2020
  1. all
  2. banks
  3. are
  4. the
  5. same
  6. quality
  7. DB

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

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  • Prospect in Other
Mar 24, 2020

why all the ms

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  • Prospect in Other
Mar 24, 2020

thanks for all the ms

Mar 24, 2020

oh here we go...

Array

  • Prospect in Other
Mar 24, 2020

Greenhill Jefferies DB RBC in that order. What do you think?

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  • Principal in PE - LBOs
Mar 24, 2020

The bottom line is all mm, maybe OP could highlight that. Also it's PJT not Blackstone.

  • Analyst 1 in IB - Ind
Mar 24, 2020

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

    • 4
Mar 24, 2020

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

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  • Analyst 1 in IB - Ind
Mar 24, 2020

Emailed program manager and received response

    • 3
Mar 24, 2020

Nothing except robust experience email for me as well

Mar 25, 2020

confirmed background checks delayed. HR email

Mar 26, 2020

Is this BAML???

Array

Mar 26, 2020

Is this an email to all incoming FT? If so I did not get it

  • Intern in IB - ECM
Mar 26, 2020

more time to smoke Js

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  • Intern in IB-M&A
Mar 29, 2020

that's all there is to do...

drink smoke trip balls and work out a lil

    • 3
Mar 24, 2020

rbc emailed today saying no changes have been made, but they're monitoring the situation

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  • Intern in 
Mar 24, 2020

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.

Mar 24, 2020

i mean it didn't sound amazing, but i think that's reading too much into it for sure

  • Prospect in IB-M&A
Mar 25, 2020

How is Mizuho and Nomura MM shops? I thought they were well below the traditional middle market form such as Wells

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Mar 25, 2020

The OP is just trying to help out, relax

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  • Prospect in IB-M&A
Mar 25, 2020

Relax? I literally just asked an objective question about the bank. Looks like we found the Mizuho analyst on this thread

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  • Prospect in IB-M&A
Mar 25, 2020

Relax? I literally just asked an objective question about the bank.

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  • Intern in IB - Gen
Mar 25, 2020

wells isnt even traditional MM, can you please just go back to the summer 2021 thread?

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  • Prospect in IB-M&A
Mar 25, 2020

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?

  • Prospect in Other
Mar 25, 2020

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

    • 3
Mar 25, 2020

This is true. They are cancelling internships. They are extending fulltime offers to the interns. FT start date is getting pushed out to Oct

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  • Intern in IB - Gen
Mar 25, 2020

What does that mean "offering extending fulltime offers"??

  • Intern in IB-M&A
Mar 25, 2020

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".

    • 4
Mar 25, 2020

I would be very surprised if summer internships were not held remotely at this point

    • 1
Mar 25, 2020

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

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.

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    • 1
Mar 25, 2020

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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Mar 25, 2020

Credit Susie SF and Evercore dropped their Canadian interns (the ones going to school in Canada, no idea about Americans at school)

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  • Incoming Analyst in S&T - FI
Mar 25, 2020
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?

  • Intern in IB - Gen
Mar 25, 2020

All internationals were dropped at Evercore(basically anyone needing to be sponsored).

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  • Analyst 1 in IB - Gen
Mar 25, 2020

When and why?

Mar 25, 2020

That is absolutely not true

Mar 25, 2020

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

Mar 25, 2020

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)

Mar 25, 2020

Source?

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  • Analyst 1 in IB - Gen
Mar 25, 2020

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

    • 1
Mar 25, 2020

I go to a top target in Canada and worked on the street last summer so I know most of the people involved

Mar 25, 2020

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

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  • Intern in IB-M&A
Mar 25, 2020

All locations and groups?

Mar 25, 2020

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

Array

Mar 26, 2020

Here is a master list of most tech companies' internship status:
https://github.com/gcreddy42/hiring2020

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  • Intern in Other
Mar 25, 2020

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.

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  • Incoming Analyst in S&T - FI
Mar 26, 2020
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.

  • Intern in Other
Mar 26, 2020

Thanks for the info! I am just hoping we do not get a status update along the lines of "you are screwed"

Mar 26, 2020

Not SA but MS promises no layoffs in 2020:
- https://www.axios.com/memo-morgan-stanley-layoffs-...
Seems like a decent sign for how big banks will handle this in the U.S

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    • 4
Mar 26, 2020

And now Citi follows suit!

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  • Incoming Analyst in S&T - FI
Mar 26, 2020
rezjopls:

And now Citi follows suit!

Source for Citi? Can you please post the link? Can't seem to find it

    • 1
Mar 26, 2020

Don't see evidence for this anywhere

  • Intern in IB-M&A
Mar 29, 2020

baml as well

  • Intern in IB - Ind
Mar 26, 2020

mm bank emailed us today to hold off on scheduling our flights to HQ for first week of training

  • Incoming Analyst in IB - Ind
Mar 26, 2020

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 - Ind
Mar 26, 2020

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

    • 1
  • Prospect in S&T - Equities
Mar 27, 2020

What about BAML? I heard internally things might not be looking to well.

Mar 27, 2020

"Bank of America will not lay off any staff due to coronavirus in 2020" - Brian Moynihan, CEO Source: LinkedIn Page

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  • Analyst 1 in IB - Ind
Mar 27, 2020
  • Analyst 1 in IB - Ind
Mar 28, 2020

What do u mean

  • Incoming Analyst in S&T - FI
Mar 28, 2020
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 - Ind
Apr 1, 2020

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.

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  • Prospect in S&T - Equities
Mar 28, 2020

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.

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  • Intern in IB-M&A
Mar 28, 2020

department (IB? HR? risk?) and geography (NY or not NY) of your source

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  • Prospect in S&T - Equities
Mar 29, 2020

All divisions and NYC

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  • Intern in IB - Gen
Mar 28, 2020

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

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  • Intern in IB - Gen
Mar 28, 2020

What is your source?

  • Prospect in PropTrad
Mar 29, 2020

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.

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  • Analyst 1 in IB - Ind
Apr 1, 2020

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

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    • 2
Apr 1, 2020

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)."

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  • Summer Associate in IB - Ind
Apr 1, 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!

  • Prospect in IB-M&A
Mar 28, 2020

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

Not necessarily doubting this but can someone from Evercore confirm?

  • Prospect in IB-M&A
Mar 29, 2020

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.

    • 2
Mar 29, 2020

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.

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  • Associate 1 in IB - Gen
Mar 30, 2020

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.

    • 1
Mar 31, 2020

deleted

  • Prospect in PropTrad
Apr 1, 2020

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

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 
Apr 1, 2020

Well at least that confirms pay for most of us. Banks will tend to follow each other here I'd think.

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  • Intern in S&T - Comm
Apr 1, 2020

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.

    • 2
Apr 1, 2020

can you guys say which bank?

Apr 1, 2020

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.

    • 5
Apr 1, 2020

Yeah, incoming BAML SA here and got the same email.. hoping all the BB's send out similar notices soon for y'all

  • Analyst 1 in IB - Ind
Apr 1, 2020

honestly, I think they will. Really impressive of BAML to be the first though. Says a lot about the firm

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  • Prospect in Other
Apr 1, 2020

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
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  • Intern in 
Apr 1, 2020
  • Intern in IB - Ind
Apr 1, 2020
  • Intern in IB - ECM
Apr 1, 2020
  • Incoming Analyst in IB - Ind
Apr 1, 2020
Apr 1, 2020
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