Gap Year before Banking?

I will be an SA this summer at a NY EB. If I get a FT offer (big if, yes I know), is it reasonable to request a 1-yr deferment?

It seems like a decent idea because of the uncertain M&A environment in the next 18 months, especially since M&A activity typically lags behind economic recovery. Additionally, I could crush the GMAT and maybe CFA level 1 during the gap.

If reasonable to ask, then what are respectable things to do for that year? I’ve heard Teach for America, and I have some interest in the Schwarzman Scholar program too, but what else is out there?

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