Interview for mega caps or wait?

How badly do you want these firms, and would you be willing to do an extra year as an analyst to get these if it means more prep time? I wouldn't factor in the ability to do off-cycle into your calculus here, because maybe you won't get hit up for off-cycle (and usually it's sporadic, 1 spot here, 1 spot there, etc). Need to be prepared for the worst case scenario.

Personally, it's my belief that if you've done a few LBO models before, and you have a relatively free weekend, you should be able to bang out prep in 8-10 hours of combined time. Assuming you've been on the job for 8 months, you can start imagining interviews like you're walking your VP / MD through something....since your interviewers would be the same age / type.

Another plus that I didn't mention is that accepting these interviews (try to schedule them for next week if possible) is that it'll force you to get off your ass and prep. If you strike out, then there's tons of other really great funds that you can just start recruiting for. Have seen too many ppl sit out of recruiting their whole first year, and then boom they're a 3rd yr analyst that hasn't reached out to HHs but wants to quit.