SA 2021 Housing?

I accepted an offer with an energy bank down in Houston and I'm from the Texas area so I was wondering how housing works for SA? Do banks usually have places where they house interns? Or am I up to find housing myself? I know the best course of action would be to ask my HR rep but I don't want to sound weird asking literally 12 months in advance. Also, do banks pay for your SA housing or is that coming from your pay? The bank didn't mention anything about a relocation stipend for the summer. Don't know if that's because I'm only a couple hours away? Is that something that I should ask about come spring or would asking sound douchey? Sorry, new to the logistics of IB and don't have anyone I can ask. Thanks dudes.

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Comments (10)

Jul 1, 2020 - 1:42pm

First, you are a year out from your internship, chill.

Second, usually it is up to you to find housing. Your bank can probably give you recommendations, but they probably won't put you up in a place. You may get a housing stipend, but that is fairly uncommon.

You will make plenty of money from your internship to cover housing, especially in Houston.

  • Intern in IB-M&A
Jul 1, 2020 - 5:23pm

for most BB and EBs you get a housing stipend that is 2-3k which by no means covers how much you need but helps. I don't think any banks actually provide housing directly though. don't rush finding housing so soon or else you will over pay and be committed to a place a year out and likely regret it

  • Prospect in IB - Cov
Jul 1, 2020 - 5:51pm

is the housing stipend somethings that should be mentioned in the offer letter? I don't think I'll get one tbh. when should I start looking for apartments timeline wise?

Jul 1, 2020 - 7:41pm

You're probably not getting a housing stipend then if it's not in the offer letter. I'd say wait til around Nov-Dec to start to find housing. It'll be harder since most housing stock isn't put online yet. That is, you wont find too many people posting their rooms for rent via AirBNB 6 months out as most people aren't sure of their situation with regard to their unit(s). The advantage that you do have is that you will get decent sized discounts (I've seen ~20-50%) by booking that far in advance and you can even haggle with host. I'd say for sure try to get housing before February as that's when other people will start to get internships and look for housing.

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Jul 1, 2020 - 7:16pm

I was on my own for finding housing in Houston this year, went with Airbnb and got a place downtown that I thankfully was refunded fully for. I would recommend messaging hosts and ask if thats the best price they can offer. You'll have some good leverage since youre doing it way ahead of time and are staying for a while. You'll be surprised how many are actually willing to work with you.

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Jul 2, 2020 - 9:10am

The issue with sub-leasing or short term lease is that you wont get any of the necessities like furniture, dishes, etc. that really only leaves Airbnb.

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Jul 2, 2020 - 9:38am

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