Is "It" Starting Again: Delayed Start Date for Graduates, Reducing Number of Interns

Some of us recall back in the global financial downturn how start dates were pushed into the future.  Sometimes, down the road during the wait, the job offer was rescinded. Also, the number of summer interns had been slashed. 

Well, is that trend kicking off again in this era of uncertainty, fear of recession and implementation of generative AI to operations?

Yahoo Finance reports:

"EY has postponed the start dates for approximately 200 graduates scheduled to join its prestigious strategy advisor Parthenon in the US …  EY-Parthenon has reduced the number of internship opportunities for the upcoming summer ..."

Driving this decision is that M&A/PE activity hasn't picked up as expected, at least for the dealmaking EY has been anticipating. This kind of disappointment could also apply to certain financial and law firms. 

The graduates had been scheduled to come aboard in November. The date has been pushed out to mid 2025. Meanwhile stipends are provided ranging from $12,000 to $35,000.

Let's hope that the jobs do come through and the graduates aren't stranded as had been so many new JDs during The Great Recession. After hanging around waiting for the new start date, they were notified that the job offer had been rescinded. 

Meanwhile getting in didn't mean staying in. Layoffs became standard. Too many never made it back in. I had coached them for non-legal-sector career paths. Since they had student loan debt they had to earn income.

Life is hard. Business is even more difficult these days. Get answers – and relief. Jane Genova is a results-driven intuitive coach, tarot reader and content-creator related to careers. Complimentary consultation (please text/phone 203-468-8579 or email janegenova374@gmail.com)