Off-cycle Internship or summer internship?

blaircheng2013's picture
Rank: Baboon | banana points 108

Hi guys~
I would like to know if I fail in the off-cycle internships will I still be allowed to apply for the following summer internships?
Because I heard that for some IB you are required to apply for one position within a year.
Any advice on the off-cycle internships or summer internships?
Thanks!!!!

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Comments (15)

Jun 23, 2017

You can still apply in the summer if the off-cycle doesn't work out

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Jun 23, 2017

To the best of my knowledge I believe most off-cycle internships will not lead to a FT offer. However, they can lead to a summer offer, which can then lead to a FT offer. Did the BB mention they will consider you for a FT position?

Robert Clayton Dean: What is happening?
Brill: I blew up the building.
Robert Clayton Dean: Why?
Brill: Because you made a phone call.

Jun 23, 2017

Hi goodL1fe,
Actually I've been told by the BB that I will be considered for a FT position. The position is based in london. Maybe it is different in the US.

Jun 23, 2017

Can you walk tthrough the process of getting an off-cycle internship at a BB? really curious to hear how you were able to do it.

Thanks

Jun 23, 2017

You don't need to disclose anything. If you get a summer offer, and your spring job turns into a summer job, then you can either decline the spring turned summer job, or renege the summer job.

Unless of course you're saying your spring job will offer you full time for when you graduate, and then also your summer might offer you full time for after you graduate... Then it's the same answer, you either take the offer and renege, or decline the offer.

in short; just do you, and CYA

Jun 23, 2017

I was in a similar situation once. I would say that you should go ahead and look for a summer internship, and don't worry about disclosing anything. I don't think there's anything unethical about it.

Jun 23, 2017

All is fair in love and war my dude. Do what is in your best interests.

Jun 23, 2017

Any way you can tell us what banks you are talking about?

In any case, you could go on and do the off-cycle and try to land it. You'll obviously have some time to decide if you get the offer, maybe enough so that you can start your summer internship and get a grip on what chances you've got there.
Otherwise, you could just renege if the bank in summer is soooo much better than off-cycle one.

The surest way to make a monkey of a man is to quote him.

Jun 23, 2017

Hi there,
many thanks for your comment. The off-cycle is at CS and the summer at Goldman.
My concern was more on the ethical and legal aspect of such a move.

Jun 23, 2017

Tough one.

In any case, CS is a great bank and if you land FT there I would happily accept and be proud. GS is what it is, we all know. However, I know that GS in London do not have high conversion rates. Since you potentially would have CS lined up, I think that it is good enough so to speak.

Just trying to be down to earth, since obviously there are a lot of opinions, ranks, thoughts but at the end it is a very tough time for young prospective bankers and the sooner you realise the better it is.
If you can somehow do both, try to get offers and then decide? Do it.
If you get CS and have to reply? Take it.
If you get CS offer for summer after and you still want GS? Do the summer internship, get the offer and renege on the offer.

P.s. I was in similar situation. I declined the invitation to go into FT recruitment process with GS to stay at the place where I had a FT offer in hand.

The surest way to make a monkey of a man is to quote him.

Jun 23, 2017

Glad to hear it from someone who was in a similar position :)
Thanks ModernMonkey!