Is it possible that the upcoming summer internship program may be cancelled? I'm surprised it's continuing, considering recent layoffs. Do you think they'll be able to offer any FT positions after the internship ends, given layoffs and the economy?
8 replies (most recent on top)
@kb yeah dude, it’s all merit-based. That’s why we’re hiring boatloads of Indians, it’s the value-add they bring to the company. I too still live in 1965 and believe the economy runs on your value-add, I also still believe Santa is real.
It’s the value you add the the firm. Yes, there is a chance and you should go for it.
Don’t listen to the layoffs for high-salary people, that’s nonsense. Roles become eliminated in any large corporation, some may make more or less.
If they were value add and worth the salary, they’d still be employed.
@ee I relate a lot to what you wrote. It’s exhausting. That feeling that the trapdoor could always drop out beneath you.
I’m so exhausted with this arrangement. Always having to monkey-branch, always having to update my resume, always having to worry my head is the next one on the chopping block. It’s the same everywhere you go. I can’t continue working like this, I’m burning out.
@ac, it's not a number of years, it's how expensive you are compared to your peers on the team, or in the parent org above your team.
If you're an entry-level employee, you may get promoted on about a yearly basis, but after a couple promotions, your pay may become noticeable to someone in management. When it does, it's a good time to get out; either leave your organization for a lateral position elsewhere in Schwab, or seek to leave the company for better pay. Don't become a target by earning "too much."
@OP, an intern shouldn't even be looking at this page. Your salary as an intern isn't even a rounding error in your department's budget. Put your time in this summer and enjoy it for what it's worth - gaining some meaningful experience and exposure to the company's Kool-Aid. Act like you enjoy the Kool-Aid, but just realize it's brainwashing nonsense. Ultimately, you're just a number to the company, namely a necessary cost... until someone determines you aren't necessary afterall.
If invited to work at Schwab after your internship is done, you can always keep your options open to work elsewhere; you will not be obligated to accept the company's offer of a job.
If you do accept employment, stick around for a few (2-4) years. Keep your options open during that timeframe. Company-wide layoffs and department-level reorganizations happen every 2-3 years, but as one of the "chosen few," you're not likely to be targeted for a layoff as long as your pay stays low compared to the others (a.k.a. longer tenured/more experienced members) on the team.
@a8 if you were to guess…how many number of years would an employee have to work there for Schwab to consider laying them off?
don’t you worry. you are fresh meat for the grinder making less than any of the laid off people. you’re the pipeline.