Investing In The Next Generation Of Workforce

For many large companies, college internships are a competitive pathway to hiring prospective employees. However, with the recent volatile economy and job market, paid summer internships were the first to go for many of these companies. 

Citigroup took a different stance. 

In early April, the global bank pledged to offer the majority of its 1,500-person incoming global interns full-time job positions at the end of the summer. 

With 750 interns in the U.S., Citigroup will extend an offer to any intern in its New York, London, Hong Kong, Singapore, and Tokyo offices who completes the minimum requirements of the program. Although, the start date for the internship program has been postponed to July 6, interns will also be paid for the full 10-week term. 

Jane Fraser, President of Citigroup, says the pandemic offers an opportunity to “smash some of the myths of how you’ve done stuff in the past and come up with new ways that will just make talent perform better.” Offering full time positions up front took the “the stress out of the system” amid the unprecedented circumstances, Fraser said.

Internship experience, for many young people entering the workforce, is crucial to landing a job after graduation. As the unemployment rate continues to rise, Citigroup’s recent commitment exemplifies hope to the next generation of the workforce during this unprecedented time.