Wall Street Internships Are Surviving Pandemic’s Economic Wrath (1)

Some 22 million Americans filed for unemployment in the past month as businesses shut down to slow the spread of the novel coronavirus. But internship programs, a key source of future employees for big companies, have proven surprisingly immune to the economic devastation.

While Wall Street’s biggest names have delayed, shortened or made virtual their paid summer programs, they have been reluctant to cancel them. Internships are deeply ingrained in the recruiting process for some industries, and the pandemic hasn’t changed that. Top among these are slots tied to finance and consulting.

“Investment banks are probably the best example,” said ...