IB / PE Off-Cycle London Q4

Based on the most helpful WSO content, here’s what you need to know about IB/PE off-cycle opportunities in London:

1. Bulge Bracket Banks (BBs):

   • Goldman Sachs: If you didn’t attend their networking event in August (for current summer interns at other banks), chances are slim as they’re progressing with candidates from that event. Only 2-3 spots are typically available.
   • J.P. Morgan: Recruiting usually begins in November, but spots are very limited.
   • Morgan Stanley: Applications opened and closed in July, with only 1-2 hires made.

2. Elite Boutiques (EBs):

   • Evercore: Networking invites have already been sent, and the process is likely closed.
   • PJT Partners: Most positions are filled through intern class conversions, with a few external hires already made.
   • Perella Weinberg Partners (PWP): Fully staffed through intern conversions.
   • Moelis: Open positions, with online tests distributed. First rounds are typically in late October, and final rounds occur the following week.

3. Buy-Side Opportunities:

   • While specific buy-side positions aren’t detailed in the dataset, megafunds and credit-focused divisions often recruit on a rolling basis. It’s worth reaching out to funds directly or leveraging your network for insights.

4. General Advice:

   • Many firms operate on a rolling basis, so applying as soon as possible is crucial.
   • Networking remains a key factor, especially for EBs and buy-side roles.

If you’re targeting Q4 opportunities, focus on firms with rolling applications and consider reaching out to HR or alumni for updates on availability.

Sources: 2018 FT/Off-cycle London Recruiting Timeline Megathread, On-Cycle, IB Offers, Hair Splitting, Depression, and "The Path", Q&A: London BB IBD to top 3 PE