Internship programs altered amid coronavirus pandemic

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Goldman Sachs Group and Morgan Stanley are the latest banks to adjust their summer internship programs in response to stay-at-home orders spurred by the coronavirus pandemic.

Goldman Sachs will delay the start of its summer internship to a provisional date of July 6 and shorten the program to five weeks, according to an email sent to all interns globally outside of India. The bank will still pay interns the amount they would’ve received for the full duration of the program.

Morgan Stanley told its interns this week to expect the majority of their time to be spent working virtually, with the possibility of some in-person components, depending on the individual program, a company representative said. Financial News reported the change earlier Tuesday.

Goldman and Morgan Stanley are following firms including JPMorgan Chase, Capital One Financial, HSBC Holdings and Nasdaq in delaying, shortening or making virtual their internship programs this summer as efforts to slow the pandemic around the world leave employees working from home.

“Our primary goal for the Goldman Sachs summer internship program is unwavering: to enable you to learn and grow by experiencing our firm’s culture, people, businesses and impact,” the company said in the email.

Bloomberg News
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