Investment banks are now offering virtual internships, which defeats the whole purpose of internships at investment banks – the culture https://trib.al/hqA4PYR 

As jobs go, investment banking, sales and trading are pretty well suited to being done from home.

The work is basically typing things on computers and talking on the phone https://trib.al/R7mbqwR 

But for junior bankers and interns, there's another aspect to their jobs: It’s to learn how bankers behave and get made fun of and acquire a nickname and generally get hazed and indoctrinated https://trib.al/R7mbqwR 

A lot of high-powered business people have this in common: They spent two years of their early 20s in an analyst program at one of a handful of big investment banks.

This gives them a shared base of knowledge and skills and vocabulary and experiences https://trib.al/R7mbqwR 

One person familiar with JPMorgan's virtual internship arrangement told the Financial Times that the 2020 graduates were likely to get “less ability to interact with clients.”

Since when was "interaction with clients" a key part of investment internships? https://trib.al/R7mbqwR 

Here’s a real thing that happens in these internships: eating challenges.

People will pool money for an intern who can eat a tub of mayo or every item in the vending machine, and then they will sit around egging him on and placing bets on his chances https://trib.al/R7mbqwR 

The intern will succeed and collect his money and sneak off to throw up, and everyone will come away from the experience with a sense of “ah yes, this is what investment banks are, this is probably in ‘Liar’s Poker’ somewhere” https://trib.al/R7mbqwR 

Virtual internships don’t have vending machines. You don’t sit around absorbing jargon in its natural context; you don’t get 80 hours a week of hanging around investment bankers until you become one yourself https://trib.al/R7mbqwR