Core Viewpoint - The emergence of a paid internship industry in China has raised concerns about the integrity of the job market, particularly for recent graduates and high-net-worth individuals seeking opportunities for their children [1][3][9]. Group 1: Paid Internship Industry - The "2025 Elite Internship Program" launched by Industrial Bank offers internship opportunities at major companies like Google and ByteDance for clients' children with deposits over 10 million yuan [1]. - The paid internship market has become a "hidden rule" in various sectors, especially in finance and technology, where students often pay for internship opportunities [3][8]. - Reports indicate that top brokerage firms have charged around 150,000 yuan for research internship positions as early as 2020 [4]. Group 2: Market Dynamics - As the number of graduates increases, the job market has become saturated, making it harder for graduates to secure desirable positions without resorting to paid internships [8]. - A third-party intermediary often facilitates these paid internships, creating a gray market where services range from resume polishing to interview coaching [9][11]. - The pricing for internships varies significantly, with "walking HR" internships costing between 16,000 to 25,000 yuan, while "not walking HR" internships are around 14,000 yuan [12]. Group 3: Risks and Consequences - Many students have reported negative experiences, including being placed in non-functional roles or receiving fake internship certificates [16][20]. - The lack of regulation in the paid internship market has led to numerous scams, where students pay for opportunities that do not exist or are misrepresented [21]. - The practice of paid internships disrupts the normal order of internships, exacerbating competition and increasing anxiety among job seekers [23][25]. Group 4: Future Outlook - The paid internship industry is unlikely to disappear soon, and its persistence raises questions about the future of job market integrity and the potential need for regulatory intervention [25]. - Graduates are encouraged to focus on building their skills and unique qualifications rather than relying on paid opportunities to enhance their resumes [27].

Core Viewpoint - The launch of the "2025 Elite Internship Program" by Industrial Bank has sparked controversy due to its high financial thresholds for participation, raising concerns about social equity and the potential for privilege among high-net-worth clients [2][7][12]. Group 1: Program Details and Controversy - The program requires non-Industrial Bank private banking clients to deposit over 10 million yuan (approximately 1.4 million USD) and existing clients to deposit over 5 million yuan (approximately 700,000 USD) to qualify for internship opportunities at prestigious companies [2][7]. - Following the program's announcement, several companies, including ByteDance and CITIC Securities, publicly denied any collaboration with Industrial Bank regarding the provision of internship positions for high-net-worth clients' children [7][8]. Group 2: Response and ESG Implications - Industrial Bank responded to the backlash by stating that the program was intended as a value-added service for high-net-worth clients and that the final decision on internship placements rests with the companies involved [8][11]. - The bank acknowledged that the controversy stemmed from incomplete communication and has since suspended the program, highlighting a need for improvement in information disclosure and consumer rights protection [8][11][14]. Group 3: Compliance and Governance Issues - The program's requirement to freeze funds during the internship period has raised questions about compliance with the principle of "voluntary deposits and free withdrawals" as outlined in the Commercial Banking Law [11][12]. - Critics argue that linking internship opportunities to financial deposits creates a perception of privilege and may undermine the fairness of access to such opportunities, challenging social equity principles [12][14]. Group 4: Brand Impact and Future Considerations - The incident has negatively impacted Industrial Bank's brand image, emphasizing the importance of integrating ESG risk assessment mechanisms into their communication and service design processes [14]. - The bank must balance commercial interests with social responsibility to avoid further controversies related to perceived preferential treatment for high-net-worth clients [14].

Core Viewpoint - The controversy surrounding the "2025 Elite Internship Program" launched by Industrial Bank highlights the ethical concerns of linking internship opportunities to high financial thresholds, raising questions about employment fairness and resource allocation in the private banking sector [1][3][9]. Summary by Sections Program Details - The "2025 Elite Internship Program" required non-private banking clients to deposit over 10 million yuan and existing clients to add 5 million yuan to qualify for internship recommendations from top companies like JPMorgan Chase and Google [1][3][6]. - The program was marketed as a value-added service for high-net-worth clients, but the financial barriers sparked public debate about equity in resource distribution [3][4]. Company Response - Following public backlash, Industrial Bank issued an apology and suspended the program, clarifying that the final decision on internship opportunities rests with the hiring companies [3][4]. - The bank emphasized that the program was intended to provide career assessment and job information through third-party channels, not a guarantee of placement [4][5]. Market Context - The private banking sector has seen significant growth, with Industrial Bank's private banking clients increasing by 11.36% year-on-year, reaching an average of 77,017 clients [6]. - The total financial assets of private banking clients also grew by 12.40%, indicating a robust demand for private banking services [6]. Ethical Considerations - The linkage of internship opportunities to financial deposits raises ethical questions about fairness in employment, as it may create a privileged pathway for wealthy clients [9][10]. - Legal experts suggest that while private banks can offer differentiated services, they should balance commercial value with social equity to avoid exacerbating social inequalities [9][10]. Industry Trends - Other banks, such as Ping An, have also introduced similar programs, indicating a trend where financial institutions are increasingly tying internship opportunities to their private banking services [7][10]. - The competitive landscape in private banking is intensifying, with institutions exploring diverse value-added services to attract high-net-worth clients [8][10].

Core Viewpoint - The article discusses the launch of the "2025 Elite Internship Program" by Industrial Bank's private banking division, aimed at providing internship opportunities at renowned companies for the children of high-net-worth clients, contingent on significant new fund deposits [1][3][10]. Group 1: Internship Program Details - The "2025 Elite Internship Program" offers internships at prestigious firms such as JPMorgan, CICC, Google, and Microsoft [3]. - Non-private banking clients of Industrial Bank must deposit over 10 million yuan in new external funds, while existing private banking clients need to deposit over 5 million yuan [6][10]. - Funds must remain in place during the internship period, indicating a restriction on fund transfers [6]. Group 2: Client Demographics and Financials - As of July 2023, Industrial Bank's private banking clientele numbered 66,800, managing a total financial asset scale of 835 billion yuan [13]. - The threshold for becoming a private banking client is a monthly average of comprehensive financial assets of at least 6 million yuan [13]. - In Q1 2025, Industrial Bank reported a revenue of 55.683 billion yuan, a year-on-year decrease of 3.58%, and a net profit of 23.796 billion yuan, down 2.22% year-on-year [17].

Core Viewpoint - The article discusses the launch of the "2025 Elite Internship Program" by Industrial Bank's private banking division, aimed at providing internship opportunities for the children of high-net-worth clients [1][3]. Group 1: Internship Program Details - The internship program offers opportunities in various industries, including finance, internet, consulting, fast-moving consumer goods, media, and automotive, with participation from well-known companies such as JPMorgan, CICC, Google, Microsoft, and ByteDance [3]. - Eligibility for the program requires non-Industrial Bank private banking clients to deposit over 10 million yuan (approximately 1.4 million USD) in new external funds, while existing private banking clients must deposit over 5 million yuan (approximately 700,000 USD) [3][4]. - Funds must remain in the bank during the internship period, and the program is limited to 40 spots [4]. Group 2: Public Reaction and Confirmation - The announcement of the internship program sparked discussions on social media, with some users questioning whether it represents a direct exchange of bank deposits for internship opportunities [4]. - Following the initial announcement, the program's details were reportedly removed from the Industrial Bank private banking WeChat account, but staff confirmed the program's existence and that registration had already closed [4].