November 26, 2020

Summer Internship Roundup 2020: Everyone’s Gone Virtual

[Updated on May 25 with additional information about BDO USA.]

For every 20 to 25 tips we receive about layoffs and pay cuts at public accounting firms during the COVID-19 pandemic, we get one about some firm’s virtual extravaganza being offered to summer interns this year. Yep, virtual. None of that worthwhile public accounting experience, like ordering from an ice cream truck for the first time, or screwing up the lunch order, or jogging with the CEO. And no trips to Disney World, Deloitte Disneyland, or Kamp KPMG for the time being.

Even though the first winterns of the decade had their taste of capital market servitude cut short at many firms because of the Rona, at least they got to do some shit. As of now, incoming summer interns won’t get that chance. And many are bummed.

But hey, at least the new crop of summer interns have already been told by their firms in writing that they’re getting a full-time offer, as long as they don’t royally screw the pooch.

Here’s what we know so far about the virtual summer internship programs at a handful of public accounting firms. We assume EY has offered its interns a full-time associate job, like the other Big 4 firms, but we haven’t been told that directly. If one of you EY young’uns can confirm that for us, email or text us using the info at the bottom of this post.

PwC

Advance internship

  • Two-week virtual digital upskilling experience starting in July.
  • $2,500 stipend.
  • Full-time associate offer for 2021 or later.

Start internship

  • Four-week virtual internship from July 6 to July 31.
  • Advance internship offer for 2021.

Here’s What We Know About PwC’s Summer Internship Situation

Deloitte

  • Two-week virtual internship from July 6 to July 17.
  • $4,000 stipend.
  • Full-time associate offer.

EY

  • Five-week virtual internship from July 6 to Aug. 7 (40 hours per week).

We’re not really sure what’s going on with stipends and full-time offers to summer interns. Here’s a tip we got recently:

I am a future summer tax intern at EY and neither my friend (summer audit intern) or I have received full time offers. (We are not graduating till 2021 though so maybe that has something to do with it?) My pay rate is supposed to be about $27.83 per hour I believe. (It’s supposed to be 1st year salary if you worked hourly.) Also they didn’t mention it but I’m assuming my $1k signing bonus is still on the table. I really hope so anyway!

Below is the (important part of the) email we received, in case you haven’t seen it yet:

Hello

We are reaching out with an update regarding your summer internship with EY. We know you appreciate hearing from us, and I’ve appreciated hearing from you during what can only be described as unprecedented and uncertain times. Thank you for your flexibility and patience as we finalize the details of your summer internship. After careful consideration, we have decided to fully virtualize the internship experience, which will begin Monday, July 6, 2020 and conclude on Friday, August 7, 2020. The internship will be 40 hours per week for five weeks at the rate noted in your offer letter. Given that the internship is virtual, you will not be asked to relocate to the city designated in your offer letter. However, you are required to be located and working in the US for the full duration of your internship.

Your internship will begin with “Welcome to EY,” a one-week virtual orientation to the firm that will also include technical service line training. Prior to orientation, you will be provided a firm-issued laptop that will enable your EY experience over the summer, including, but not limited to:

  • Learning and development opportunities, with a focus on digital tools
  • Participating in client engagement work and collaborating with EY professionals
  • Building your network with your fellow interns
  • Connecting with your EY peer advisor and counselor
  • And much more!

Any other soon-to-be EY interns receive a similar message? Did you get your pay rate already? Will you still be getting a signing bonus?

KPMG

  • Four-week virtual internship (20 hours per week).
  • $3,000 stipend.
  • Full-time associate offer for 2021.

RSM US

  • 12-day virtual internship (four hours per day).
  • $2,500 stipend.
  • Full-time offer.

Grant Thornton

  • Two-week virtual internship from July 6 to July 17.
  • $2,500 stipend.
  • Full-time associate offer for 2021 or preferred time period.

BDO USA

  • Four-week virtual internship.

(Source told us pay rate for interns will remain the same; had not received any word on full-time offer.)

EisnerAmper

  • Six-week virtual FLEx (Future Leaders Experience) from May 28 to July 3 (series of four-hour sessions, not 40 hours per week).
  • $2,000 stipend.
  • Full-time/internship offers for 2021 upon completion.

This list is obviously far from complete. If you don’t see your firm here, give us the particulars and we’ll add them. We want to list as many virtual summer internship programs as possible.

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