Hey there,
I just wanted to get some opinions on the IBD Off-Cycle Internships at Morgan Stanley and BAML in London. Is the significant time investment (5 months) during your studies also rewarded with better conversion rates? Are there any other notable differences compared to SA apart from the timeframe and better exposure. Would be very grateful if some could share their experiences.
| +409 | Change My Mind: Banks Shouldn’t Hire Foreigners at All | 111 | 15m |
| +176 | Article - UBS’ Investment Bank Keeps Losing Ground | 34 | 9h |
| +95 | Don’t work at UBS - UBS Sucks | 11 | 44m |
| +77 | An Exhaustive Guide: How to Solve Every Single Accretion/Dilution Question | 7 | 2h |
| +51 | When to Leave Office as Intern | 5 | 2d |
| +43 | Best IB Group Overall? | 25 | 1d |
| +34 | Would you rather be a Touse Squid or a Bouse Mogger in IB | 2 | 2d |
| +31 | What do you say to ppl who don’t know EVR/LAZ/CVP/PJT | 22 | 1d |
| +31 | STEM student lost in London IB recruiting | 17 | 19h |
| +20 | Still recruiting SA'27 | 13 | 18h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
BB off cycles aren’t done whilst also studying. It’s for those who have finished their studies. Unless I’m misunderstanding what you’re asking?
The off-cycle internship at BAML historically had a 100% conversion rate (except last time as one guy dropped out because of personal reasons).
Why do they have such a high conversion rate? It makes like no sense
Off-cycle internships are not as common as on-cycle and there are way fewer seats open, hence often higher quality intakes. You also stay on for 4-5 months, where you get to know your fellow analysts and associates quite well, unlike a 6-10 week summer internship. Unless you are a moron or highly unliked I would say that it would be strange of conversion rate wasn't high.
And dothose Off-Cycles from BAML who receive the return offer usually stay in the company or are they poached by other banks and usually leave?
seen both happen for off-cycles, yet usually for lower BBs, people seem pretty happy at BAML/Citi, happily trade a much better life balance and usually better pay as these 2 pay more than GS/MS/JPM for a very small increment in exit opps. But imo these banks attract less of the 2 and out that you see at GS and whereby the seniors use you as a resource knowing you are here for a limited of time only.
Curious to know that GS / MS / JP do just poach people from lower BBs or EB as people dont want to exit from BAML/CITI.
Did think that they were trying to poach both interns and analysts from the best banks, but seems legit not to waste their time in kids that wont move
Does anyone have specific infos on the off-cycle at MS?
Push
Pretty straight forward the process, the big deal is to get the interview tbh. Found that there was "less talent" than in some other Off-Cycle ACs, not sure if it was a coincidence. In any case it seems a solid program but with a low conversion rate compared with other banks, that's why many people seem to choose other offers from less prestigious banks
Does the BAML Off-Cycle start with 1-2 weeks of training?
No you will not get any training. Off-cycles are excepted to have gathered experience from previous internships and hit the desk running
Does anyone know which banks offer off-cycle internships?
About... HUM... all of them
Thanks, didn't really know it is a thing. Do you reckon most ppl would have SA under their belts? Is it much harder to get an Off-cycle than SA?
Would appreciate some more insight as I debate between off-cycle or doing a master and giving SA another try
If you have the offer; take it. If not I would go for a good masters and secure a good position
Hey, I'm in exactly the same position and wondering how it panned out for you? UK I assume?
Assumenda temporibus ea repellat velit provident. Autem et voluptate nostrum quis tempora aut. Aut et explicabo corporis odit atque ipsum. Est aperiam voluptas laborum illo sit vero molestias. Est alias voluptate voluptas accusamus sit.
Eius magni sequi ut iure. Adipisci sed quo perferendis placeat facere incidunt. Numquam modi dolorem rerum aliquid.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...