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Credit Suisse interns told they need to reapply to UBS

Credit Suisse interns' worst fears have come to pass. They will not be getting offers to convert their internships into full time jobs by virtue of their Credit Suisse summers. They will need to entirely reapply for internships at UBS.

Credit Suisse isn't commenting, but the bank is understood to have asked its summer analysts to apply for full time positions on the UBS 2024 graduate programme. Applicants will be invited to participate in Hirevue interviews and a superday with competency and commercial interviews. 

In other words, they have to start right back at the beginning again.

Successful Credit Suisse interns will be told whether they have UBS job offers on the 14th August. 

The revelation that the Credit Suisse internships will lead to nothing this summer, irrespective of how hard summer analysts work, follows the mandatory deferral of many of the Swiss bank's incoming analysts this summer. - Students who thought they'd join Credit Suisse full time in the coming months are being paid to stay away until February, when they will join UBS.

In combination, those deferrals and UBS's own incoming analysts and interns, suggest it will be very difficult for Credit Suisse's current interns to get a full time offer from UBS for next year. The Swiss bank is awash in students. This summer may be about getting experience, but nothing more. 

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Photo by Tim Mossholder on Unsplash

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AUTHORSarah Butcher Global Editor

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