Off-cycle internships good career route?

With off-cycle internships within IB requiring already completion of degree before starting and the length of them. Are they a genuine manner in progressing to a full-time role? I'm just asking this as at least in the UK the main traditional manner is through the SA program or a grad scheme (from what I've seen). 

Also, what does the average salary for an individual doing one of these internships looks like, and is there anyone that has personally gone through this process and would they recommend it? I just don't see the main benefit of such a route considering you can just apply for FT roles?

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