SA NYC Housing
I’ll be interning at a BB this summer, and was curious to know if certain banks have ever subsidized or paid for summer housing? Otherwise should I expect to AirBnB or find a sublease? Thanks
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gonna be online bro
Most likely Hybrid Model, which sucks. I'd rather be fully remote and save 4k and live in my house.
Hybrid is not happening for interns
They’re not going through all of that trouble, not happening.
Lol there's literally 10 posts like this per day. The answer is always going to be no unless you're at a VERY small firm.
I’m also interning at a BB this summer. Are you midtown or Fidi/Tribeca?
Midtown
You’re actually at email. No point in discussing office locations right now.
Thanks Captain Obvious, I wasn't aware the whole world moved remote
Are there restrictions on where SAs can work from if it's remote?
Must live in the US during your internship if you’re interning in the US. Idk about interning in other countries. It’s like this for tax purposes
Not really, I interned from outside the US last summer
There’s a whole host of tax considerations if you’re working in the US but you’re domiciled elsewhere. Like, for example, if you’ve rented a flat in London for the entirety of 2021 through your internship (such that it’s your actual permanent residence) but you’re a US citizen.
To keep it simple, some banks are requiring that you stay and live within the US if you’re interning in New York. My bank is one of those banks. For reference, we also don’t sponsor visas. The bank would much rather keep it simple and not have to pay additional money to keep you when they can just as easily recruit a US citizen living within the US without having to worry about all of these things. Some banks won’t want to go through the hassle of figuring out all of the tax nuances with you living in Belarus but interning in New York remotely, and they definitely would prefer to not do it for 20+ additional people who all want to live in completely different countries while interning in New York.
So to circle back, yes it is a rule, but I should’ve specified that it’s bank specific and that not every bank will care. Mine (bulge bracket that doesn’t sponsor visas) has explicitly stated within the last month that we HAVE to live in the US during the entirely of the internship to work here
JPM rescinded offers for those international students who couldn't get back into the US in time for the summer internship last year. just FYI.
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