Investment banking off cycle internships in 2023 and 2024 present valuable opportunities for students outside of the regular recruiting cycle. With major banks like Citi, Credit Suisse, and JPMorgan opening applications in early 2023, competition may be high but preparation can set candidates apart. By targeting specific programs, tailoring resumes and cover letters, and practicing for interviews and tests, applicants can showcase their skills and motivation. Securing an off cycle role builds vital experience and connections for full-time positions down the road in M&A, ECM, DCM, leveraged finance, and other groups.
Citi and Credit Suisse off cycle programs cater to advanced students graduating soon
Citi has opened two off cycle investment banking programs in Singapore targeting more advanced students – a Summer Associate role for MBAs/research students graduating December 2023-June 2024, and a Full Time Associate role for those with 3-5 years experience graduating December 2022-June 2023. Similarly, Credit Suisse has a January 2023 deadline for its Compliance Academy Graduate Program in Singapore, aimed at December 2022-June 2023 graduates. These programs allow banks to supplement their regular on cycle hiring that focuses on underclassmen. Strong academic profiles and some relevant internships or work experience are key, as is conveying interest in that specific division through the cover letter and interviews.
JPMorgan accepting off cycle applications for sales, trading, and quant roles
In addition to investment banking, major banks have off cycle programs for markets and quant functions. JPMorgan opened January and February 2023 application deadlines for several Singapore-based roles – a Quant Analytics Summer Analyst program (September 2023 graduates), Quant Analytics Summer Associate (September 2023-July 2024 graduates), Global Private Bank Summer Analyst (January 2023 deadline, September 2023-July 2024 graduates), and Singapore Apprenticeship Program. The quant roles prize STEM coursework, coding skills, and statistical abilities, while the sales/advisory functions value interpersonal talents and financial market knowledge. Applicants should align their background and competencies accordingly.
Resume, testing and interview prep is critical despite easier screening
Although off cycle recruiting sees less volume than regular fall recruitment, preparation remains vital to stand out. Since programs cater to more advanced students, expectations on experience and technical skills are higher at the resume screening phase. Cover letters also require detailed explanations of one’s fit and motivation for that exact division and program. Applicant tracking systems screen resumes for key words matching the role requirements. In interviews, off cycle candidates should expect similar behavioral and technical questions as their on cycle peers. The difference in difficulty comes more from the accelerated timeline to prepare if only learning of these niche programs in early January 2023 with looming deadlines.
Investment banking off cycle internship opportunities for 2023 and 2024 require proactive searching and quick response times when applications open, but allow students to get a foot in the door at a major global bank. With tailored preparation and materials that speak to the unique nature of each program, applicants can set themselves up for offers and full time positions down the road.