The COVID-19 has been causing substantial changes in the job market generally. As many companies had reported hiring-freeze and layoff, the Jobless Claims set to hit 30 million. Internships and even full-time positions are also affected on various degrees. We are experiencing one of the darkest times for recruiting now.
Which Companies Canceled Their Internships?
Besides all the listed companies in the graph, FedEx, Blackbaud, and many NGOs also terminated their summer internships. Some positions at Google and Microsoft are also stopped.
How Do Companies Change Their Internships?
Luckily, most Big Name companies have clearly announced that their internships will not be canceled. Those companies include Facebook, Apple, Amazon, Microsoft, IBM, PayPal, Goldman Sachs, JPMorgan, Capital One, and Disney.
In addition, Citadel, IBM, Apple, PayPal, Google, and Microsoft decided to shift their remaining internships to remote programs.
Recruiting Situation for 2021
The following companies are having a hiring-freeze. Verbal offers and interviews might be on hold or even canceled.
Currently, there are almost no companies still recruiting for 2020 summer. People are aiming at 2021 already. Many investment banks have already started their campus recruiting season. However, Goldman Sachs, Morgan Stanley, and Citi have decided to postpone their recruiting launching to the fall.
Some useful suggestions during this time:
1. Take advantage of all virtual discovery events. Companies such as Goldman Sachs, Blackstone, BlackRock, Bank of America and Credit Suisse have posted a series of webinars and online programming.
2. Networking. Since most in-person events and even Superdays are canceled, it is the best time to network with professionals, who are working from home and have relatively more time to check emails and make calls.
3. Put the extra free time into good use. Start to learn technical skills such as Excel, VBA, Tableau, Bloomberg, and Matlab.
4. Stop the panic. Accept uncertainty peacefully and just keep doing what you need to do.
You may find more companies and relevant information on the Job Tracker built by 1point3acres (https://jobs.1point3acres.com/). You can also browse more internship opportunities on Handshake, Wayup (https://www.wayup.com/), and Paragon One (https://www.paragonone.com/).
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