off-cycle internships

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takasar
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#1
Report Thread starter 5 years ago
#1
recently a few people from my university who graduated last year, have begun off-cycle 6 month internships at large banks.

are the off-cycle admission requirements different from summer internships? im guessing that the difficulty of landing one is slightly easier (?) than getting a full-time grad role but harder than securing a summer internship as an undergrad.

any and all help much appreciated
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IBMentor
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#2
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Hi Takasar,

For an off-cycle internship the application process and competition are completely different than for summer internships.

Banks put a great deal of work into their summer programs as these usually include several rotations, group projects, organised meetings with senior management etc...It's usually considered the "royal way" of getting into IB.

Off-cycle internships are usually focused on one role or desk thus whether your profile/CV is attractive in the eyes of the revelant team will have a much bigger impact on whether you get invited for an interview.

Competition wise it is indeed easier as an off-cycle 6 months placement does not fit in most students' academic year. The application process is also easier as it usually just involves a CV and Cover Letter.

I landed an off-cycle at BNP Paribas after having failed to get a place on the graduate scheme following my masters so believe me when I say that these are a great way to break into the industry. I was the only one being interviewed for this role I believe.

I hope this helps.

J Cohen
Founder of IBMentor.com
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mrchrister
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#3
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#3
Where do you look for off-cycle internships?
The reason is that sometimes I find this kind of programs advertised on the website of some banks but I rarely find them elsewhere (Linkedin, Indeed, etc.). It is not easy to keep them under observation.
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takasar
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#4
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#4
(Original post by mrchrister)
Where do you look for off-cycle internships?
The reason is that sometimes I find this kind of programs advertised on the website of some banks but I rarely find them elsewhere (Linkedin, Indeed, etc.). It is not easy to keep them under observation.
usually european banks are quite fond of them. apparently its because they match the french/german/italian academic schedule. BNP, UBS, Deutsche, etc
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takasar
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#5
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#5
(Original post by IBMentor)
Hi Takasar,

For an off-cycle internship the application process and competition are completely different than for summer internships.

Banks put a great deal of work into their summer programs as these usually include several rotations, group projects, organised meetings with senior management etc...It's usually considered the "royal way" of getting into IB.

Off-cycle internships are usually focused on one role or desk thus whether your profile/CV is attractive in the eyes of the revelant team will have a much bigger impact on whether you get invited for an interview.

Competition wise it is indeed easier as an off-cycle 6 months placement does not fit in most students' academic year. The application process is also easier as it usually just involves a CV and Cover Letter.

I landed an off-cycle at BNP Paribas after having failed to get a place on the graduate scheme following my masters so believe me when I say that these are a great way to break into the industry. I was the only one being interviewed for this role I believe.

I hope this helps.

J Cohen
Founder of IBMentor.com
sorry for the late reply, only saw this now. thanks a lot for the help. congratulations on getting into BNP! im looking to apply myself to start early next year. a friend of mine also got into an off-cycle internship at BNP at the leverage finance TMT desk.

would it be ok if i PM you for a bit more information and a few more questions?
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db13019
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#6
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#6
Hi J,I've got an interview coming up for a LTI in the Valuation
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Robadond
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#7
Report 4 years ago
#7
(Original post by IBMentor)
Hi Takasar,

For an off-cycle internship the application process and competition are completely different than for summer internships.

Banks put a great deal of work into their summer programs as these usually include several rotations, group projects, organised meetings with senior management etc...It's usually considered the "royal way" of getting into IB.

Off-cycle internships are usually focused on one role or desk thus whether your profile/CV is attractive in the eyes of the revelant team will have a much bigger impact on whether you get invited for an interview.

Competition wise it is indeed easier as an off-cycle 6 months placement does not fit in most students' academic year. The application process is also easier as it usually just involves a CV and Cover Letter.

I landed an off-cycle at BNP Paribas after having failed to get a place on the graduate scheme following my masters so believe me when I say that these are a great way to break into the industry. I was the only one being interviewed for this role I believe.

I hope this helps.

J Cohen
Founder of IBMentor.com
Hi IBMentor,

I'm in the process of applying for off-cycles at BNP Paribas. I haven't been able to find much information on their off cycles.. Ie how competitive are they? what's the interview proccess? comp? hours? Both for Paris and London..

Any insight would be much appreciated!

Cheers
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takasar
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#8
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#8
Any additional information much appreciated
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mil24
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#9
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#9
When do off cycle internships usually start? Is there an option to start at a similar time to summer interns, but stay on for 6 months as opposed to 3?
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Robadond
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#10
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#10
(Original post by mil24)
When do off cycle internships usually start? Is there an option to start at a similar time to summer interns, but stay on for 6 months as opposed to 3?
Depends on the firm and their ad-hoc needs
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Tremonia
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#11
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#11
(Original post by mil24)
When do off cycle internships usually start? Is there an option to start at a similar time to summer interns, but stay on for 6 months as opposed to 3?
For MS I can say that off-cycle internships start in January and end in June before the summer analyst join. They seem to be quite set on that period. Spoke to a recruiter about moving the the period and/ or shortening it, which eventually was determined not possible.
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mimuyu
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#12
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#12
(Original post by mrchrister)
Where do you look for off-cycle internships?
The reason is that sometimes I find this kind of programs advertised on the website of some banks but I rarely find them elsewhere (Linkedin, Indeed, etc.). It is not easy to keep them under observation.
Glassdoor can help in finding some off season internships
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mrparty99
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#13
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#13
How does this process work for international students in London. Can they apply for Off-cycle or are they stuck with SA or FT?
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anonuser99
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#14
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#14
(Original post by mrparty99)
How does this process work for international students in London. Can they apply for Off-cycle or are they stuck with SA or FT?
International students, under your visa restrictions, would not be able to work off cycles during term time because you wouldn't have the appropriate right-to-work. You can only work part-time. During holidays, you are free to work as long as you want. And I believe when graduated now, you also get a 2 year right to work in the UK. Check your visa though.
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mrparty99
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#15
Report 1 year ago
#15
(Original post by anonuser99)
International students, under your visa restrictions, would not be able to work off cycles during term time because you wouldn't have the appropriate right-to-work. You can only work part-time. During holidays, you are free to work as long as you want. And I believe when graduated now, you also get a 2 year right to work in the UK. Check your visa though.
Thank you for your reply! Now that we get a 2 year right to work can we do off-cycle internships during this 2 year period?
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anonuser99
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#16
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#16
(Original post by mrparty99)
Thank you for your reply! Now that we get a 2 year right to work can we do off-cycle internships during this 2 year period?
I'd assume so, it's no different than any other form of employment
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daegy123
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#17
Report 1 year ago
#17
anyone applied to the BNP Paribas Long- Term intern, or planning to apply?- would like know more about it!
im wondering if there is a chance to switch to full- time when the internship finishes?
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daegy123
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#18
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#18
(Original post by mrparty99)
How does this process work for international students in London. Can they apply for Off-cycle or are they stuck with SA or FT?
hi did you apply for the long term intern in bnp? thanks! (:
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