Interning can be fun, rewarding and a good way of getting to know an industry, or landing the job you want. It can also be an excellent way to sign off your own soul forever. It's been revealed that one Wall Street banker called Justin Kwan wrote a list of rules called Welcome To The Jungle, a set of commandments designed to make life as miserable as possible for his interns.
Kwan, of Barclays Bank, forced his interns to log whenever they left their desk and for how long, and said he expected them to be the last ones to leave every night, irrespective of the fact that they are not earning the full-time analysts wage. His list of rules open with the words "Welcome to Power!", ignoring the fact that interns don't tend to have much of that.
His interns were told that socks were a no-no, never to take their jackets off at work even on hot days, to bring pillows and yoga mats for the "very likely scenario" that they will have to sleep under their desks, and to have a spare scarf or tie around in case their associate banker mentor wants to use it as a napkin. At the end of all this, they are told that they might win an offer to do this full-time, every day, for the rest of their lives. Amazing!
No wonder bankers turn out so mean. Kwan has now left Barclays and taken a job at The Carlyle Group, an asset management group. The leak of this email and subsequent revelation that he treats interns like this has made no difference to his job offer.