As the application season for 2023 investment banking summer internships comes to an end, many students feel hopeless about their chances. However, off-cycle internships, which can also lead to full-time offers, are still available. These 3-12 month long programs provide deeper experience and have less competition. Students should broaden their search beyond common summer programs. Off-cycle internships at boutique firms can help build skills and experiences that prepare for applications to top banks later.
Off-cycle programs have similar experiences as summer programs
Off-cycle internships at investment banks provide similar in-depth experiences as summer programs. With a longer duration from 3-12 months, students can gain deeper insights into the firm and confirm their interest. These opportunities should not be overlooked even during the peak summer recruitment season. The experience and enrichment is comparable to summer programs. For students who missed out on summer recruiting, off-cycle programs could still provide an entry path to full-time offers.
Competition for off-cycle programs is less fierce
The competition for off-cycle investment banking internships is generally less fierce compared to the popular summer programs. Students should not solely focus on familiar program names containing words like “Diversity”, “Spring”, “Sophomore” when searching for early opportunities. Unfamiliar off-cycle program names like “Summit” and “Symposium” can also lead to summer interviews and full-time offers.
Boutique firms provide valuable early experiences
Even if top investment banks do not have open off-cycle programs, boutique firms can still provide valuable experiential learning. As long as the firm and business activities are legitimate and similar, boutique investment banking experiences help strengthen applications later to top banks. Students should be open-minded to small firms in finding early opportunities instead of fixating only on brand names.
Off-cycle internship programs at investment banks should not be overlooked by students. With longer durations and less competition than popular summer internships, off-cycle programs can provide comparable experiences and opportunities to land full-time offers.