How to take a year off after uni and still get into investment banking?

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ibasdfasdf
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Hi guys,

I'm looking for advice on the best way to get onto an IB grad scheme but also take some time off after university to travel.

It is really important to me that I take some time off to travel after university (I didn't take a gap year before uni), but I am well aware that the banks don't allow you to defer offers. I was therefore wondering:

1) Should I apply for IB summer interships for just after graduating, and then apply for grad schemes after my internship (would that work)?
2) Should I say that I am thinking of doing a Masters if I want to get a Summer internship after graduating or can I be honest and say I plan to travel and improve my foreign languages skills?
3) Does anyone know of anyone at an IB who has done this?
4) Any other tips on how to play this?

About me: I am studying Economics at a top 5 UK uni, currently on a year in industry (between second and third year) at a boutique asset manager in London. I go back for my final year of study later this year.

Any help/advice would be really appreciated!!

Thanks a lot
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ibasdfasdf
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Does anyone know of anyone who has done something like this? i.e. been traveling before joining an IB
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xtrembob
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Look - try to get into an internship with the opportunity to convert it ASAP. Once you get the offer you can always ask to re-do a summer internship after graduaion giving you a year before you start for FT, or if your SA is after your graduation already just go travel - looks like the latter option applies so just apply for SA 2021 and travel between SA 2021 and starting FT in 2022.
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ibasdfasdf
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(Original post by xtrembob)
Look - try to get into an internship with the opportunity to convert it ASAP. Once you get the offer you can always ask to re-do a summer internship after graduaion giving you a year before you start for FT, or if your SA is after your graduation already just go travel - looks like the latter option applies so just apply for SA 2021 and travel between SA 2021 and starting FT in 2022.
Thanks a lot for this. I guess one problem I can foresee is that internships are generally given to students in their "penultimate year of study", which won't include me (I'll be in my final year applying for internships). I have the following plan and I was wondering if you think this will work:

> Apply for Summer internships on the basis that I'm considering doing a masters (and therefore in penultimate year of study).
> Hopefully get some offers
> Do a summer internship but explain that for various reasons I won't be doing a masters anymore, instead I will "be in France to get my business French up to scratch" or something along those lines
> Hopefully still get an offer to start after my gap year, if not just apply for an IB grad scheme (at a different company potentially) at the start of my gap year off the back of the internship

Do you think this will work?
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xtrembob
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(Original post by ibasdfasdf)
Thanks a lot for this. I guess one problem I can foresee is that internships are generally given to students in their "penultimate year of study", which won't include me (I'll be in my final year applying for internships). I have the following plan and I was wondering if you think this will work:

> Apply for Summer internships on the basis that I'm considering doing a masters (and therefore in penultimate year of study).
> Hopefully get some offers
> Do a summer internship but explain that for various reasons I won't be doing a masters anymore, instead I will "be in France to get my business French up to scratch" or something along those lines
> Hopefully still get an offer to start after my gap year, if not just apply for an IB grad scheme (at a different company potentially) at the start of my gap year off the back of the internship

Do you think this will work?
My bank as many banks accept final year students, only few banks do not accept final year students (DB) and then apply for their off-cycle. I know that some banks would recind their summer internship offers should you have lied about doing a masters. Don't try to play dumb.

Also if you do not convert, realistically IB grad schemes are hardly accessible. And honestly, if I was to see someone like you wanting to do a gap year before IB I'd question if you have what it takes to be in IB. I would do a summer internship and take it one step at the time, should you convert it would give you a year before you start, but don't plan on doing a gap year from the beginning.
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Realitysreflexx
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(Original post by xtrembob)
My bank as many banks accept final year students, only few banks do not accept final year students (DB) and then apply for their off-cycle. I know that some banks would recind their summer internship offers should you have lied about doing a masters. Don't try to play dumb.

Also if you do not convert, realistically IB grad schemes are hardly accessible. And honestly, if I was to see someone like you wanting to do a gap year before IB I'd question if you have what it takes to be in IB. I would do a summer internship and take it one step at the time, should you convert it would give you a year before you start, but don't plan on doing a gap year from the beginning.
Are gap year's that much of an issue in IB? What a rigid and unflexible industry lol.
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xtrembob
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(Original post by Realitysreflexx)
Are gap year's that much of an issue in IB? What a rigid and unflexible industry lol.
Imagine having someone apply for a job and saying oh but btw I want a year to **** around. Is that professional? I am not saying that it's an issue it's just that given how competitive it is people would rather have someone that doens't need to chill for a year that's all. I think that there is 3 moments to take a gap year: between A-levels and uni, at uni/by doing an exchange year (lets face it no one works), between uni an a masters. Between uni a an job you're effectively making yourself un-employed for a year for lack of better word. Only do one if you have an offer in hand - ie after conversion.
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Realitysreflexx
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(Original post by xtrembob)
Imagine having someone apply for a job and saying oh but btw I want a year to **** around. Is that professional? I am not saying that it's an issue it's just that given how competitive it is people would rather have someone that doens't need to chill for a year that's all. I think that there is 3 moments to take a gap year: between A-levels and uni, at uni/by doing an exchange year (lets face it no one works), between uni an a masters. Between uni a an job you're effectively making yourself un-employed for a year for lack of better word. Only do one if you have an offer in hand - ie after conversion.
I actually worked pretty hard on my year abroad 😂 raised my average significantly lol.

But i see your point. There's much better jobs in financials, invest management is comparatively probably alot more satisfying, though obviously the pay isn't as high. Or working as an economist/analyst on a macrostrategy. Had i been given the blessing of enjoying the non verbal (numerative) aspect of that work... Then i would definitely do that. And would advise anyone with the talent for numbers to look into that direction.
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xtrembob
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(Original post by Realitysreflexx)
I actually worked pretty hard on my year abroad 😂 raised my average significantly lol.

But i see your point. There's much better jobs in financials, invest management is comparatively probably alot more satisfying, though obviously the pay isn't as high. Or working as an economist/analyst on a macrostrategy. Had i been given the blessing of enjoying the non verbal (numerative) aspect of that work... Then i would definitely do that. And would advise anyone with the talent for numbers to look into that direction.
Look I wouldn't say more satisfying, I love what I do, yet I think it's not for everyone and requires a certain level of maturity that a lot of people do not have when joining. Many join because they got caught up inot this IB thing at uni where everyone is simply applying. Luckily it is a well recognised job giving you a borad training allowing you to move into many other roles.
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Realitysreflexx
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(Original post by xtrembob)
Look I wouldn't say more satisfying, I love what I do, yet I think it's not for everyone and requires a certain level of maturity that a lot of people do not have when joining. Many join because they got caught up inot this IB thing at uni where everyone is simply applying. Luckily it is a well recognised job giving you a borad training allowing you to move into many other roles.
Glad you enjoy it!
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