Credit Suisse interns and graduates are starting as normal
Some big things have changed since Credit Suisse extended offers for its summer interns and graduate hires for 2023. And yet, the Swiss bank is not cancelling or postponing offers.
Credit Suisse declined to comment on the status of its most junior recruits, but we understand that graduate hiring at the bank is going ahead as usual and that interns and graduates are currently in the process of being onboarded. Speaking off the record, one managing director said the expectation is that Credit Suisse's graduates will slot into UBS's training scheme.
UBS said today that it aims to complete its acquisition of Credit Suisse by July, which is usually midway through internships and just before graduate hires begin. The implication is that graduates in particular could start working for UBS instead.
In its last annual report, UBS said it hired 1,900 graduates last year and was recognized among the top 50 employers by Universum. Credit Suisse didn't disclose how many graduates it hired last year, but Universum's report show that it ranked 42nd among attractive employers for business graduates, above UBS, which was 43rd.
While Credit Suisse applicants might therefore find themselves working for what was previously a marginally less appealing bank, they are fortunate their offers are being honoured. In the consulting sector, which has also been having issues recently, employers like Bain & Co and Accenture are delaying start dates for their coming hires.
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