Easier to Get Internships Post-Brexit??

I have recently been considering Brexit in relation to internships (next year), and based on conversations I have had recently, it appears that it should be easier to get an internship at investment banks in the U.K. Post-Brexit. However, let me give you the context of this statement before you all fly off the handle xD

- I had a conversation with a member of the operating board at Morgan Stanley a month ago, he was saying that there they have no intention of leaving the UK due to Brexit as it stands due to the legal and regulatory tribulations of moving. He considered the UK (alone) sufficient in terms of talent for finding staff. - (However, he did make clear that if s**t really hit the fan, they would move. Although he saw Corbyn as more of a threat to the banking sector than Brexit.)

- As it stands to get an internship in the UK you need a standard work visa, (unlike the U.S. where there is a specific visa for internships, which is easier to aquire). A standard work visa requires sponsorship and a quite hefty monteary commitment (for an intern), and more importantly for the employer to demonstrate they couldn't find an individual suitable for the companies' needs domestically.

- I want to also make clear I am not pro-brexit, so in now way am I trying to convert anybody into becoming a Brexiteer on this basis.

- I am aware that Brexit is a highly unpredictable process, and it could go sideways and could result in them leaving but on the basis of what he says, until there is further evidence demonstrating otherwise, I am assuming that the Morgan Stanley board member was correct regarding the future of Brexit in relation to banking.


Does anybody have an effective rebuttal for this view?

Does anybody have anything that would conclusively demonstrate what the board member is saying is bulls**t?

Did you do a thread asking if it would be easier to get into a top uni after brexit?
All the same responses and issues apply.
Theres not much point discussing it imo until we know whether we have deal or no deal.
There are also plenty of variables not covered by you which could influence availability of internships. If you are good enough you will get in.

Well, here’s some facts of how graduate recruitment has moved recently -

Graduate cohort numbers are slimming, certain banks are letting off (or immediately reallocating) Analysts within weeks of hitting their jobs in the last few months, and many programs are all but removing any prospect of securing full-time roles without doing an internship.

Above all, in my opinion, UK should start protecting the rights of its own British graduates.

The ability for EU (Continental Europe) students/graduates to work into the UK without ever having any ties to UK, either through family, education, or work experience, is fundamentally flawed in my opinion. EU graduates can first do an IBD internship in their own country, e.g. Paris or Milan, which is *substantially* less competitive than London, and then apply directly to London, depriving positions for British graduates, who were not able to get an internship the prior year due to the dynamics being substantially competitive. UK students cannot simply intern in EU countries, as EU employers prefer native over fluent speakers.

I have spoken to HRs are I-banks, and under the current model, they do not have "quotas" for UK citizen. As long as one does not require a visa (which includes all EU students), they are put into the same category. This has resulted in the following: I know a 12-person team at a I-bank in London, only having 1 British person, with all the remaining people being from the EU. Do you think this is logical?

You may argue that the US operates on similar terms; it, however, does not. If someone wants to work in NYC, but lives in Chicago, they do require familial ties, education or a very valid reason for working in NYC. Many NYC-based I-banks also have special programmes for universities that are based in NYC, thereby directly protecting the students that are based in each region.

Thoughts?