Goldman Sachs interns are scrambling to find housing in New York City this summer as the bank prepares them to head into the office

David Solomon goldman sachs

Summary List Placement

The first test that Goldman Sachs’ incoming summer interns are facing this year has already begun: the challenge of finding a place to live in New York City.

On March 29, Goldman Sachs told incoming interns in a post on its website to expect to work out of its offices this year following a one-week virtual training program that’s set to kick off in June, unless they could not reach the company’s offices safely.

“We encourage those that can to please prepare to be near the office of your internship ahead of the start of your virtual training program,” the company said.

Within Goldman’s incoming New York summer internship class, that announcement sparked a firestorm of frantic students searching for places to live, according to two sources contacted by Insider.

Both sources — themselves, incoming interns in Goldman’s New York-based class — requested anonymity to freely describe the situation they and other interns were facing. Their identities are known to and have been verified by Insider.

Without help or guidance from personnel at Goldman Sachs, both interns paint a chaotic picture of interns rushing to coordinate with each other in group text chats to find a place before available housing runs dry.

“People are still frantically looking for roommates and trying to find housing,” the first intern said, describing the tricky situation that others in Goldman’s incoming intern class are facing.

The second source said that interns had obtained each other’s phone numbers through LinkedIn in recent months and been in communication.

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That informal network has proved to be a helpful resource throughout the past week and a half, this person said, estimating that as many as 75% of interns had yet to figure out where to live and many are looking for housing options together.

“They’re still widely discussing it in these groups,” that person said. “This will be an ongoing discussion for at least the next few weeks for sure.”

On Wednesday morning, a spokesperson for Goldman Sachs told Insider that the firm will take measures to address the interns’ confusion and concerns.

“We will soon be communicating additional housing information and resources for interns who will be working near our major offices, including some opportunities for interns to stay in rooms procured by the firm,” the spokesperson said.

‘Oh my God, we’re in person. What are we going to do?

While both interns expressed enthusiasm for the chance to work at the office with colleagues, they said that the stresses of securing housing with relatively little notice had left bewildered college students feeling thrown through a loop.

The first source told Insider that more than 100 interns were attempting to coordinate with one another in a housing-focused group chat on the texting app GroupMe.

“When it came to the summer analyst group chat, there were a lot of messages that were just being sent out. I was definitely getting messages every five seconds for at least a good 30 minutes or so,” this person recalled.

“Everyone was like, ‘Oh my God, we’re in person. What are we going to …read more

Source:: Businessinsider – Finance

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