How to get Off cycle London?
Incoming IBD SA for summer 24 but I’m a final year student unsure of what to do next.
It’s a MM shop which usually doesn’t allow interns to convert and begin working immediately, with a few exceptions over the years.(Think Houlihan, Alantra, RBC)
For context I know most people either travel or do an off cycle in the year gap.
How do I secure an off cycle in a boutique PE shop in London? Reach out to an individual or email the firm? Any common shops which hire for Off cycles?
Any tips would be appreciated as I don’t want to teach English in China for year!!Thanks
Ah, the classic conundrum of trying to bridge the gap year with something productive in finance! Based on the most helpful WSO content, here's a bunch of bananas... I mean, tips, for securing an off-cycle internship in a boutique PE shop in London:
Networking: This is your golden banana. Start by reaching out to alumni from your university who work in PE in London. LinkedIn is your friend here. A personal connection can often lead to a referral or at least some valuable advice.
Direct Applications: Some boutiques may not advertise their off-cycle positions widely. It's worth shooting your shot by sending a tailored CV and cover letter directly to the firm. Make sure to express your genuine interest in their specific firm and how your experience aligns with their work.
Recruitment Agencies: Some boutiques work with recruitment agencies to fill their off-cycle positions. It's worth registering with a few that specialize in finance roles.
WSO Job Board: Keep an eye on the Wall Street Oasis job board. Sometimes, off-cycle opportunities are posted there.
Cold Emailing/Cold Calling: It's a numbers game. The more firms you contact, the higher your chances. Personalize your emails, be concise, and express why you're interested in them specifically.
Follow-Up: If you don't hear back, don't be afraid to follow up. Persistence can pay off, but always be polite and professional.
Prepare for Interviews: While you're reaching out, make sure you're prepped for interviews. The WSO PE Interview Course can be a great resource to brush up on your skills.
Utilize University Resources: Your career services might have contacts or resources that can help you in your search.
Stay Informed: Keep up with industry news and trends. Being knowledgeable can impress in networking and interviews.
Be Open to Related Roles: If PE roles are scarce, consider related fields like corporate finance, strategy roles in corporates, or even venture capital as a stepping stone.
Remember, securing an off-cycle position is often about timing and fit. Start early, be persistent, and tailor your approach to each firm. Good luck, and don't worry, you won't have to teach English in China unless you want to add "international experience" to your CV in a very different way!
Sources: PE Recruiting Guide, London Off-Cycle 2024, 2025 PE Recruiting (Post On-Cycle), Big4 Rx FT or Off-cycle at EB? (London / UK ), On Cycle 2025 Advice
Pretty much all off-cycle are closed for Jan/Feb/March start (3-6 months) - only 1 I think is still open are Jefferies (3 months) - starting march.
You get an off-cycle here same way you get a summer -> well known banks -> apply on their website; boutiques -> network/cold email etc.
Are you talking about 2024 or 2025?
Aiming to find one for Sep 24 or jan 25
Apply for off cycles at better banks. I know someone who was in exact same position as you and did another EB OC and converted that to FT
interest for sept 24 as well, seems not a lot of openings yet
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