“Singapore job market is tough now” — Aspiring bankers resort to skipping university classes for multiple internships

Singapore’s aspiring bankers are increasingly skipping classes to opt for multiple internships, a trend known as internship stacking.

Mr Kang withdrew from his university classes mid-semester to seize what he saw as a “once-in-a-lifetime opportunity.” After starting his internship in March, he spent two semesters away from school, likely delaying his graduation.“The job market is tough now, so this has given me a starting point for my career,” he said. Despite taking only one class to attend his internship, he had to pay S$5,750 in school fees.

The pressure to accumulate internships was especially intense for those targeting positions at top-tier banks like Goldman Sachs and JPMorgan Chase. These firms saw a surge in internship applications, making the process highly competitive. On the other hand, JPMorgan received 493,000 applications for 4,000 global internship slots, marking a 15% year-on-year increase in Asia-Pacific applicants.

Currently interning at a bank, Lee had to cram seven classes into her final semester to graduate on time.

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