Virtual internships? Not for Goldman Sachs new intern class

The interns are coming back to Wall Street.

Goldman Sachs told it’s incoming summer interns class that they will be able to work in the office after the pandemic forced the company to delay its summer internship program that lasted for about five weeks.

The firm sent a letter to interns outlining the plan for the upcoming summer which said the company is encouraged by the progress of vaccine rollouts, and that Goldman Sachs will welcome interns that can travel safely to the office.

“We want to emphasize that the safety and wellbeing of our people, including our incoming summer interns, is at the forefront of all our decisions. We recognize that the personal nature of COVID-19 has affected all of us in different ways and want to assure you that we are dedicated to providing you with a valuable experience,” the company said in the letter.

Goldman Sachs said the company will adhere to health safety protocols, which includes “enhanced cleaning, mask wearing, social distancing, daily health attestations, temperature screening and testing in certain locations.”

Goldman Sachs was forced to delay its summer internship in 2020 to July 6 and shortened it to five weeks, Bloomberg reported. Interns were paid the same amount as they would’ve been had they completed the program for its full duration, according to the report.

Goldman Sachs CEO David Solomon has been pushing for workers to return to the office over the past several weeks. Solomon has been a critic of the work-from-home model, calling it an “aberration” and “not a new normal.”

“This is not ideal for us and it’s not a new normal,” Solomon said earlier this year. “It’s an aberration that we are going to correct as quickly as possible.”

Other Wall Street firms are offering internships virtual programs. Bank of America told its 2021 interns that they’ll be working remotely this summer, Business Insider reported.

Citigroup said it’s 10-week program will be held virtually this year, the outlet report, while Credit Suisse said it plans to start virtually but could welcome in-office work no earlier than July 19.

Business Insider reported, citing sources, that JPMorgan is allowing interns in sales and trading and investment-banking roles to come to offices in New York City and London in the summer.

“The source said that the bank would likely extend flexibility to interns who may feel uncomfortable about working out of the office. While the firm is not presently requiring proof of having been vaccinated, it has taken steps in its offices to enable social-distancing protocols and other safety measures, this person said,” the report said.