Off-Cycle IBD Internships

Off-cycle internship in IBD, what are the best options? (Originally Posted: 02/08/2014)

Hi everyone,

I've been reading posts and posts to get an answer, unfortunately my case is quite special.

I'm a french student in a top-targeted school where I study political sciences with an economic major. I'll get my bachelor in July. I'm also studying Law in one of the best law school in France, and will have my bachelor in September. In France, people who want to break into BB IBD go to finance master and then they can start applying for internships, we're not that used to make internships in IBD during bachelor or before master, and we usually don't have enough preparation for interviews.

Deus ex machina : I won the green card this month through the lottery. It enables me to live permanently in the US as I always wanted to. I have to emigrate to the US within the next 6 months. To keep this green card, I have to live in the US permanently. It means I can continue my studies (finance master) in France (with a re-entry permit) but by doing this I can lose my green card since I won't be living in the US permanently.

It's a huge chance to get this green card, and I don't wanna lose it. It means I can ask my two schools to make a gap year to make internships but after this I'll surely need to stop my studies in France to not lose my green card. Unfortunately my case is special because : 1/ I can't apply to finance masters in the US for next September as all deadlines are over and I don't have the GMAT (and also because I can't afford to pursue my studies in the US) ; 2/ I can't apply to summer internships in IBD as well as it's over and I've never been prepared to interviews (I told you, in France we start preparing while in master degree) and also because I'll be available to do internships only in september-october.

What are the best options for me? Do you think I can get an internship in IBD knowing that my schools are surely not known in the US by BB IBD? If so, should I start cold-calling IB to get an off-cycle internship? If not, should I apply for internships in other finance-related firms even though it's not front office? Or should I simply start preparing interviews for next summer internships while networking and working apart (I've a hard time to make ends meet) ? Or do you have a better option?

What's more, in France I have good grades, largely enough to break into IBD in France, but a 14,5/20 overall grade in France (which is good, I'm in the upper part of my promotion) is equal to 3,44 GPA in the US, which is surely not enough for IBD... Do you think it can disqualify me to break into IBD?

My request is pretty long but I would appreciate some thoughts on the right move for long term career prospects or any considerations that I might have overlooked.

Thank you.