Are internships drying up?

[Anonymous]

Our CS freshman received an internship offer from a hedge fund. Hedge funds are hiring, although it’s very competitive because of the high salaries.

[Anonymous]

OP - I’m sorry to hear this news. What industry was his internship in?

DS is a CS major. He accepted an internship in Dec 22 too at a financial services firm. Hope his doesn’t get rescinded. I know he’s been to some dinners off campus as recently as last week with firms looking to build relationships. Didn’t realize the market was starting to soften for the CS majors.

[Anonymous]

My kid can't find one either. This is all on recession fears. It is part of the cost-cutting many companies do.

[Anonymous]

Anonymous wrote:Quintessentially DC firms are hiring interns. These are not STEM-forward roles. As an example, a labor law firm. The FDIC. A think tank focusing on NATO or trade

Brookings, cfr, all the foreign policy tanks are all running full intern programs

[Anonymous]

Think tanker here: we have fewer positions for interns than in years past, primarily because we now require that all internships are paid to avoid inequities. Worthwhile tradeoff in my view.

[Anonymous]

I understand the It is a worthwhile trade off conversation but still very hard. I work in the arts and we have had to cut back on programs to make sure we can offer pay to everyone including summer interns. The net result is fewer productions and less work for all.

[Anonymous]

Anonymous wrote:Blame the Feds for requiring pay...

Can you explain more about this? I haven’t heard about this requirement.

[Anonymous]

Our nonprofit is hiring summer interns. In person. Haven’t gotten many candidates. A real decline from the past.

[Anonymous]

They’re not at our company (CS/DS students) but I have noticed that we’re having much better luck getting good candidates, which probably indicates a softening market overall.

[Anonymous]

My kids have applied probably to dozens of internships at this point. My DS has received no calls and my DD has received 2, one unfortunately did say the were cancelling the internship they interviewed her for.

[Anonymous]

Anonymous wrote:My kids have applied probably to dozens of internships at this point. My DS has received no calls and my DD has received 2, one unfortunately did say the were cancelling the internship they interviewed her for.

Same with my son. Lots of apps, one interview+ 2nd interview that he didn't get. He's a sophomore and also considering spending the summer on campus working on a undergrad research project if an internship doesn't work out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My kids have applied probably to dozens of internships at this point. My DS has received no calls and my DD has received 2, one unfortunately did say the were cancelling the internship they interviewed her for.

Same with my son. Lots of apps, one interview+ 2nd interview that he didn't get. He's a sophomore and also considering spending the summer on campus working on a undergrad research project if an internship doesn't work out.

PP you responded to, I am looking into having my DS do a summer course abroad at this point, also a rising junior. He had a great internship last year (congressional) but needs to make some money this summer so this is disappointing. My DD has a part-time internship that can continue, but its virtual and she really wants to get into an office and experience that.

[Anonymous]

Talked to college DC tonight about internship offers being rescinded. DC heard Door Dash and Lyft rescinded their summer internship offers.

[Anonymous]

Anonymous wrote:I have heard of some job offers from FAANG rescinded. They are doing layoffs so make sense that they are not hiring interns.

My kids are not Cs and there are tons of internships advertised but very few interviews so far. Hoping it picks up as a lot of them just opened.

Some are also having hiring freezes.

[Anonymous]

DC a sophomore at a top 5 college has no luck so far.