Both programs will be paying interns for the original, full 10-week program.
JP Morgan has also pushed back its interns' start date to July and is considering whether to do the internships virtually, according to media reports. Goldman Sachs told its interns on Tuesday that the program will be cut in half to five weeks.
The coronavirus pandemic has derailed banks' summer plansĬiti is one of several big banks trying to figure out how to host its class of interns this year amid the global coronavirus pandemic. In the same email, Citi also told interns in New York, London, Hong Kong, Singapore, and Tokyo - about 75% of the class - that they're guaranteed a full-time offer. Interns will still be paid for the full 10 weeks. Citi told its incoming class of interns yesterday that it will shorten the internship program from 10 to five weeks, pushing its start date from June 1st to July 6th. Citi, like many banks, is still deciding whether it will host its interns remotely this summer.Ī summer internship at a big bank is a rite of passage for any college student that wants a career on Wall Street.įor 10 weeks each year, rising juniors and seniors work alongside traders and investment bankers to learn the ropes and network their way to a full-time offer.īut the global coronavirus pandemic has derailed banks' plans for their summer programs."It was the best news that I could ever receive," said Selin Avcilar, an incoming investment banking intern at Citi.It's an effort to relieve some of the uncertainty felt by students, Courtney Storz, head of global campus recruiting at Citi, told Business Insider.Citi is guaranteeing its summer interns in New York, London, Hong Kong, Singapore, and Tokyo full-time offers before their shortened five-week program kicks off this July.Account icon An icon in the shape of a person's head and shoulders.
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