Goldman Sachs says it will honour its commitments made prior to the countrywide lockdown to all summer interns and full-time hires in India this year.
The firm will be on-boarding 1,460 campus hires, comprising 740 summer interns and 720 full-time employees, during calendar 2020. It said it had already on-boarded several candidates remotely during the lockdown period.
Gunjan Samtani, head of Goldman Sachs Services in India told The Hindu : “Specific joining dates are being communicated individually based on the academic calendar. The first batch of 98 students will start their internship programme with us in India on May 4, 2020.” “We are proceeding with a virtual internship in India for a shortened duration of four to six weeks, compared with the usual duration of eight to ten weeks,” he added. “However, Goldman Sachs will honour the full financial compensation of the original programme duration for all the interns,” he said.
This is applicable to all those who are joining the firm from about 100 business schools, engineering colleges and undergraduate schools across the country.
According to Goldman Sachs, the virtual internship will encapsulate all the facets of a physical internship at the firm, ‘facilitated by a strong work-from-home infrastructure’.
Some 98% of the firm’s employees in India currently work from their homes. The firm said this was possible due to continued investments over the years in technology and risk management framework.
Mr. Samtani added, “Interns joining us this year are aligned to a multitude of functions across several divisions — investment banking, global markets and engineering. They join us in their pre-final year of the academic programme.”
