As above. I'm a recent grad, didn't land a FT offer. For firms that offer multiple role formats my approach has been to (1) apply for SA if eligible (since overqualified), otherwise (2) apply FT, but I've just been winging it when it comes to the decision to apply for OC vs FT.
Question: What is the easier route to enter for a recent grad, via off-cycle or grad scheme recruiting?
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Pretty sure you can normally apply for both...
Yeah where possible I’ll of course apply to both, but either in the cases where (A) there is no like-for-like role across OC/FT (in which case I don’t look serious about either) or (B) the firm doesn’t allow more than 1 application per cycle.
Not really a blanket answer, unfortunately. Varies firm-to-firm... ie. OC's usually have start dates that don't align with enrolled students (unless on an industrial placement programme) - so you'd expect less applicants all things equal. However, those who have graduated and didn't land a FT offer will apply + significant amount of people looking for a gap-stop / CV filler between their SA role and FT gig + those looking to land an OC at what they perceive to be a "better" bank etc. and convert before starting FT.
In short: it has and always will be a numbers game. Apply, apply, apply and see what sticks. Good luck!
Super helpful, really appreciate it
U can apply for both obviously, I'd say they're pretty much the same concept with different branding in different banks. For example MS off-cycle interns sometimes get 12M placements so basically the same as a regular grad year. BNP Paribas & SocGen recruit for 12M "graduates". Very dependent on where you're applying.
What I would say though is that off-cycles are much tougher than SA. In an off-cycle internship you'd be expected to have some FO internships as a baseline.
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