Off cycle (winter internships) in Canada

Does anyone have any insight into winter coop/internships for Canadian students (preferably IB or PE)? This could be like which banks/firms have winter programs, hiring timeline, any recruiters for off cycle specifically, or past experiences doing off cycle. tysm <3

Region
7 Comments
 

Based on previous WSO threads, here is some information regarding off-cycle internships in Canada, particularly for Investment Banking (IB) and Private Equity (PE):

  1. Firms Offering Winter Internships:

    • Investment Banking:
      • Canadian banks such as RBC, CIBC, TD, BMO, Scotia, and NBC.
      • MM/Boutique firms like Canaccord Genuity, GMP Securities, Blair Franklin, Origin Merchant, and Evans & Evans.
      • Global banks with Canadian offices such as BAML, CS, JPM, GS, Barclays, Evercore, HSBC, and Wells Fargo.
  2. Hiring Timeline:

    • The hiring timeline for off-cycle internships can vary, but it is advisable to start looking and applying well in advance. For example, for internships starting in January, it would be wise to start the application process by the previous summer or early fall.
  3. Recruiters for Off-Cycle Internships:

    • Specific recruiters for off-cycle internships are not mentioned, but reaching out directly to the HR departments of the banks and firms listed above can be a good strategy. Networking with professionals in the industry and leveraging LinkedIn can also help in identifying opportunities.
  4. Past Experiences:

    • While specific past experiences are not detailed in the provided context, it is generally recommended to reach out to alumni or current employees at these firms to gain insights into their experiences and any advice they might have for securing an off-cycle internship.

For more detailed discussions and personal experiences, you might want to check out the following threads on Wall Street Oasis: - https://www.wallstreetoasis.com/forum/job-search/canadian-ib-summer-202…</a">Canadian IB Summer 2022 Analyst Thread - CANADIAN 2018 Investment Banking Summer Analyst mini Thread

If you have any more specific questions or need further assistance, feel free to ask!

Sources: Which Banks Recruit Outside of Their Intern Classes? (Or Take Off-Cycle Analysts), CANADIAN 2020 Investment Banking Summer Analyst Thread, Canadian IB Summer 2022 Analyst Thread, CANADIAN 2018 Investment Banking Summer Analyst mini Thread, What is off-cycle hiring looking like as interns are finishing up and getting offers?

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

All the Big 5, National Bank, Canaccord, some smaller boutiques do it. Basically all the pensions, Altas, etc also do off cycles. Recruiting usually happens the term prior. You get sweated harder in an off cycle vs summer. 

 

They only do fall offcycle because it directly feeds into their SA. If they ran winter than it would mean that:

1. Students have to sweat it out for 8 months in a row

2. Awkward for continuity because summer analyst get a week for training and group placements before hitting the desk. Its an awkward set up if the students are already at their desk

 

So if you do fall off-cycle with them, you're basically guaranteed to return for the following summer assuming you're a decent intern?

 

Nihil voluptatem ea ipsum natus animi quia. Expedita dolorem velit et ut. Quia assumenda autem ea et voluptatem. Voluptates similique odit quam.

Doloribus ex minima non dolorem blanditiis tenetur cupiditate. Tenetur nulla iure illum sunt et aut eaque reprehenderit. Hic necessitatibus sunt voluptas maxime sed culpa delectus. Voluptatum aut aut consectetur dolorem. Quo odio corporis ipsa voluptatibus qui.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 02 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.7%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • Morgan Stanley 05 98.3%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (44) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (78) $151
  • Intern/Summer Analyst (72) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”