Virtual SA 2021 Chances

The title pretty much speaks for itself. Given the current state of the pandemic, what do guys think of the chances that the 2021 banking internships will be virtual again? Mainly thinking of NY/Bay Area/Chicago (no disrespect to my regional office fellas!)

 

I've heard good (and of course bad) things about last year's virtual internships, and I think a lot of banks are kinda getting used to remote working at this point. But again, who doesn't want to get back to normal again, right?

Comments (34)

 
  • Analyst 1 in IB-M&A
Jan 18, 2021 - 6:21pm

>who doesn't want to get back to normal again, right?

 

I dont want it to go back to normal. Commuting, no naps/working out during downtime, expensive rent, no jerking off whenever. I wonder what the senior guys think. 

 
  • Analyst 1 in IB-M&A
Jan 18, 2021 - 6:39pm

Nothing is official yet, but I would say there's almost no chance SA won't be virtual this year. It's far from ideal, but I don't think banks are going to risk an HR disaster by having a COVID outbreak involving interns

 
  • Analyst 1 in IB-M&A
Jan 18, 2021 - 6:49pm

Hitting me with MS won't increase your chances of being in-person for SA. Being in the office provides a much better learning experience, but the fact is we're still in the middle of a pandemic with cases continuing to rise and vaccine distribution has been anything but efficient (in the US at least). I'm hating WFH too, but it's not up to me

 
  • Analyst 1 in IB-M&A
Jan 18, 2021 - 7:22pm

I have no clue. My firm (MM) set a deadline for 30 days before the start date, I'm assuming most others are doing this too. Some banks will probably announce earlier, some banks might wait until the last second

 
  • Analyst 1 in S&T - Equities
Jan 18, 2021 - 6:47pm

I think it's logistically impossible for BB. There are going to be so many committees, "health experts" and others involved. Look at the upside/downside...if someone in the office tests positive (highly likely) the office will need to go remote for at least a week. If that happens a few times the internship is a wash. They've invested the money into virtual already. It's a really tall order for BBs to say the least. Maybe boutiques are more likely? 
 

Sometimes the responses to these threads seem to be from people who don't understand the speed at which some of these places move. Banks love red tape and drawn out processes. Additionally, the full service banks with a ton of locations are going to need to role out at least somewhat uniform policy across the bank. Be aware that the entire focus of the organization is not making sure SA is in person. The COO and other relevant parties will be juggling a lot. Plus it's en vogue for employers to be really cautious. To me, the above says virtual...just my opinion though. 

 
Jan 18, 2021 - 6:58pm

I think it will be remote for many reasons:
- Vaccines aren't going to be fully out to everybody by this summer
-Someone already mentioned about a covid outbreak in the office if someone tests positive in which they would shut down the entire office.
- Even with vaccines, there are government issues as to how many people can be in a single space. Packing everybody in the office isn't ideal and firms won't take chances for legal reasons. not to mention NYC doesn't even allow indoor dining

My guess is firms will soon confirm this bc they don't want to discourage students so early that it will be remote again. I could be wrong and I hope I am bc working from home sucks.

I'm not trying to sound negative and I know I'll get monkey shit bc people want to go back to the office to work and so I do. But if you look at it realistically, we won't go back to the office till next summer of 2022.

 
Jan 18, 2021 - 7:22pm

My personal opinion is SA 2021 will be relied on how fast vaccines can be out by May. What are the upcoming issues with people refusing the vaccines? Can major cities go back to normal by May? as most of them are in lockdowns with most businesses closed/barely getting by. Is 3 months enough for all these issues to be resolved ? Highly unlikely.

My say is that HR will tell students it will be virtual by April to give enough time if things have changed/progressed from right now.

 
Most Helpful
  • Associate 3 in IB - Ind
Feb 22, 2021 - 10:41am

Currently, at MS. HR just pushed out an update to interns confirming virtual summer.

 
  • Prospect in IB-M&A
Feb 22, 2021 - 5:45pm

Any chance you could elaborate?  As in for all divisions and offices?  Just trying to gauge what the BBs are starting to do since I'll be at one this summer and I assume they'll probably follow in each others footsteps.  Thanks!

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