Should I take a Gap Year Before Senior Year to Break into Private Credit?
Hi everyone,
I’m a rising senior at Babson College majoring in Finance. Over the past 17 months, I interned at a boutique asset management firm where I worked closely with the founder on launching the first ETF to hold private company shares (like SpaceX and Klarna). I also contributed to fairness opinions for SPAC deals and even participated in the Nasdaq bell ringing—definitely some standout moments.
Initially, I was led to believe that a full-time offer might be on the table, but when I tried to formalize that conversation, it became clear the opportunity wasn’t going to materialize. My responsibilities also shifted more toward administrative work than financial analysis, so I decided it was time to move on and re-evaluate.
That led me to private credit. While researching ETFs, I noticed a growing number of interval funds and dove deep into the private credit space. I’ve become extremely interested in the asset class—specifically, the conviction-driven nature of direct lending and the long-hold approach to credit investing.
Here’s my situation: From what I’ve learned through networking, most undergrads break into private credit through one of two paths: 1. Securing a junior-year internship and converting it 2. Starting in leveraged finance or IB and transitioning in later
I haven’t done either. And since I’m entering my senior year this fall, I’ve missed the typical recruiting window for Summer 2025 internships, and I’m ineligible for Summer 2026 recruiting as a graduating senior.
I’m strongly considering taking a gap year before senior year, effectively pushing graduation back by one year so I’d be eligible to recruit for Summer 2026 internships. This would also give me time to land a more technical, modeling-heavy internship (whether at a boutique credit fund, LevFin group, or similar) and fill in the gaps in my experience.
I’m all in on breaking into private credit. My concern is simply that I “clicked” a bit late—and I want to set myself up with the best possible foundation to be competitive when it counts.
Has anyone taken a similar path—delaying graduation to re-enter the recruiting cycle? Does this sound like a smart move? And if so, what would be the most strategic way to spend that gap year?
Appreciate any advice.
Taking a gap year before your senior year to re-enter the recruiting cycle for private credit could be a strategic move, especially given your clear interest in the asset class and the need to bolster your technical experience. Based on the most helpful WSO content, here’s how you can evaluate and approach this decision:
Why a Gap Year Could Work:
Potential Risks:
Strategic Use of the Gap Year:
Alternative Paths:
If a gap year feels too risky, you could consider: - Boutique Internships During Senior Year: Even if unpaid, a part-time internship at a boutique credit fund or LevFin group could add relevant experience to your resume. - Post-Graduation MSF Program: A one-year Master’s in Finance at a target school could provide another recruiting cycle and access to private credit opportunities.
Final Thoughts:
Taking a gap year is a bold but potentially rewarding move if executed strategically. It aligns with the advice from WSO threads where users have successfully delayed graduation to re-enter recruiting cycles. The key is to maximize the year by gaining relevant experience, building your network, and sharpening your technical skills. If private credit is your ultimate goal, this could be the right step to position yourself competitively.
Sources: My Four Year Plan, Missed SA 2019 recruiting - delay graduation for SA 2020?, Junior In College Who Missed Summer 2022 Recruiting, Q&A: From Corporate Finance to Corporate Strategy (Supply), Private Credit out of undergraduate?
Your real problem is that it's already pretty late for Summer '26 recruiting. If you haven't been networking / interviewing already, it will be fairly difficult to secure a position, even if you delay your graduation.
I’ll be a sa2026 jpmc credit risk CIB for leveraged corporates but I’m class of 2027. Should I look into other opportunities, am I late, or do I have a shot at PC? I’m based in Texas so maybe it’s easier than nyc lol
Is JPM credit risk an underwriting role? If so, you might be fine and can get a decent PC offer. It’ll be much tougher if you only work on IG companies.
Otherwise, I’d suggest trying to leverage JPM’s brand name and recruit elsewhere or move internally at JPM (although this is always a touchy subject at the intern level so tread lightly).
It’s underwriting and live LBO deals
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