Winter / off-cycle internships?

Does anybody know any firms that offer formal off-cycle or winter internship programs? I'm graduating from undergrad in December and have some time off from January to July and am looking for something relevant (banking, valuation, PE, corp dev, etc)

Yes I plan on cold-calling and reaching out to places but wanted to check if there are also more formal channels to go through. Thanks.

Comments (126)

 
Oct 26, 2012 - 12:52pm

There is no chance you will get into one of the Dartmouth 10-week programs. (I know this site encourages perseverance, but really, don't waste your time.) If you're at MIT, they run one-month externships at some of the banks.

 
Nov 7, 2012 - 3:49pm

Yes. I'm a December graduate as well so I'm going to have around 6 months with nothing to do.

I'd love to do something fun like travel but don't have the cash so I'm looking for something relevant that might help me further down the line.

 
Nov 8, 2012 - 1:33am

Cold-call; nothing wrong with it. Last summer (sophomore summer), I cold-called quite a few firms and got a nice summer gig (M&A advisory).

Things to note:
- I have a decent GPA (3.75)
- I knew how to model before (read Rosenbaum & Pearl)

Good luck. There is a WSO thread with firms in a lot of major cities, find it, start calling.

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.
 
Dec 14, 2012 - 12:39am

Off-cycle Internships? Winter Internships? (Originally Posted: 09/11/2013)

Contrary to my username, I don't actually go to Dartmouth!

I'm currently a senior graduating this December (one semester early) from a top 10 school and already have a FT job lined up at GS/MS IBD. I'd like to use my free semester next semester (from January to May) to explore a different area within finance since I've basically signed away the next two years of my life to investment banking. Ideally, I'd like to follow the PE/HF path after two years in banking.

Few questions:

1) How do Dartmouth students find internships during the winter / off-cycle season (Jan-May)? Are they mostly attained through networking or does Dartmouth have a formal recruiting process for winter candidates?

2) What kinds of firms typically offer off-cycle internships? Would it be reasonable for me to reach out to mid-large private equity firms, hedge funds, or BBs? Places like Bridgewater, Silver Lake, MS, BAML seem to have hired winter interns from Dartmouth but I'm not sure whether this would be possible for someone who doesn't go to Dartmouth.

3) Are these off-cycle internships only offered to Dartmouth students? Would I have a chance if I did some aggressive networking? Would they be reluctant to hire a senior who has already signed for a full-time job?

I'm just trying to figure out what I want to do with the time that I have next semester and would really appreciate any advice or suggestions you guys might have. Thanks so much in advance.

 
Dec 14, 2012 - 12:48am

Winter Internships in Finance? (Originally Posted: 07/05/2011)

Hey guys,

I am going to be a junior this year in Finance. I only have 33 more required hours so I am considering my options in terms of graduation. I basically have a semester to play around with. I was wondering if I could get some help compiling a list of companies that offer winter internships. By winter I mean the spring semester. I know companies such as the Big 4 offer winter Audit internships. However I am currently just a Finance major and am wondering if any major companies in the Chicago area offer such an opportunity.

Any companies out there?

Thanks!

 
  • Anonymous Monkey's picture
  • Anonymous Monkey
  • Rank: Chimp
Dec 14, 2012 - 12:53am

Winter Break Internship (Originally Posted: 11/08/2010)

I have six weeks of winter break this year and would like to do something productive. While I would love to work at a well known bulge bracket/middle market/boutique investment bank, I know this is a little unrealistic for winter break. There are a lot of very small boutique shops near my hometown (Chicago) and am hoping somebody has advice on how to approach them for an unpaid internship.

Questions:

Should I email or call them asking to set up an interview?

I would like to have Christmas Day and one other day off for personal reasons. I need to be out of town for other networking/professional development events for a total of six days over break as well. How do I go about bringing this up (right off the bat in a cover letter/phone call, during the interview, after the interview)?

Any other general advice would also be greatly apreciated.

Sincerely,
VanillaThunder12

 
Dec 14, 2012 - 1:02am

Winter/Break Internships (Originally Posted: 03/05/2011)

Is it common for places to offer 1 month internships in between Fall and Spring semesters? Do any BB's offer them? I'm sure for boutiques it'll be easier? Any feedback would be appreciated. Thanks.

AgainstAllOdds
 
Dec 14, 2012 - 1:07am

Winter Internship - Junior and wondering how common it is to work over winter (Originally Posted: 07/11/2008)

I'm going to be a junior this year and I was wondering how common it is to get a one month winter internship in finance? Obviously next summer is the big time to get an internship, but I feel like if possible a relevant internship this winter could really give me an edge being that I have no finance job experience thus far (I'm doing a marketing internship this summer). I'm keeping my options open between banking and possibly TAS at Big 4, so how common is a winter internship in these careers? I checked Deloitte's website and apparently the offer a few TAS winter internships, how competitive are these positions and what are they like?

Thanks

 
Dec 14, 2012 - 1:14am

Winter Break's Internship Hunt (Originally Posted: 01/17/2015)

Now that the holidays are over, my extended family is gone and kids in my area are back in school. The thrill of being home has subsided with two responsibility-free weeks still ahead of me. After contemplating how I'm going to be spending the rest of my time at home, I finally decide to sit down in front of my laptop and desperately attempt to save myself from being jobless this coming summer.

I'm staring at the empty Google Sheet on my laptop screen with a blank expression. Where to begin...

Networking is weird. I dread the idea of it. How am I supposed to expect a seasoned professional to make room for some random college kid with zero finance experience just for the sake of "learning about his firm"? I can even feel anxiety come over me I mouse over the "Connect" button on LinkedIn profiles.

Yet, as I scroll through my connections and glance at my classmates' profile pictures with their suits and wide-eyed smiles, I can't help but wonder if they feel the same way.

I ignore the looming apprehension and decide to start filling my spreadsheet with potential contacts. I begin with my school's clunky alumni database. I decide to cast a wide net and search for just about any industry that would look somewhat appealing on a resume in the long-run.

I toy with a few different search options and scroll through the database.

Consulting... VC... PWM... IBD? Now? Hell no.

I compile a list of small firms littered throughout Europe and Asia who might take a random kid willing to work for free. My spreadsheet tabs include: Name, Firm, Position, Area, Connection (in most cases, my school/class year/major), Email/Phone, and Contact Attempts. 26 names later, I'm ready to send emails.

This is where it gets tricky.

I have to be as up-front as possible because many of these people are located internationally. Not only do I have to be direct, but I also have to try to come off as competent and likable (which is a little hard to do when you're going so far as attaching your resume to the damn thing... But, hey, whatever works right?).

My template consists of two paragraphs:

  1. 1-sentence introduction of myself, how I came across the firm, and something flattering/unique about the place (ex: if they have a non-finance related philanthropic objective)
  2. How my major/interests/ECs correlate with the firm's objectives, a sentence or two about work ethic, and the final cherry on top--FREE LABOR!

I decide to go ahead and install Yesware before sending out the emails to make me feel a bit better about the imminent ignores and shutdowns.

I fill out each template after doing a little background research from their websites and finally send out emails to 5-7 firms. I would have liked to send out more but much of contact info from the alumni database is outdated and I avoid getting in touch with larger shops.

After a couple of days, Yesware tells me that about half of the emails I sent out have been opened but I still haven't receive any replies. I wait patiently and keep my fingers crossed.

A full week later, a little ray of hope shines through my inbox. An alum from the most desirable firm on my list replies:

Dear B,

Thanks for the note. Good to hear from you.

Nice to see that you have come across _____. The company was sold to [BB] in 2007. Then they sold it to another bank shortly after. I am not sure what they have done with the original business though. The market for that specific industry has disappeared.

Now, I am back with one of the original firm's co-founders. The company is called _____ and is a small venture capital group based in the Bay Area.

If you are looking for a summer internship, this could be possible. Please take a look at the website and let me know if you have some interest. I'll put you in touch with the team.

Best Regards,
L

 
Dec 14, 2012 - 1:37am

IB Winter Internship (Originally Posted: 08/03/2011)

Hi guys,

I'm an international student at a non-target business school. I've been on the Dean's list since I started b-school and am intent on a career in IB. I am targeting a winter internship and am wondering which companies I am most likely to get a good response from (preferably in NY). Also with all the layoffs in the industry, do you think it's a good plan B to move into a specific sector ie. energy initially and then try move back to banking once you have some specific knowledge?

Thanks for the help!

 
Dec 14, 2012 - 1:47am

Winter Internships PWM (Originally Posted: 11/02/2010)

Hello,

I have read through the forums that obtaining an internship during the winter is a very informal process and that usually calling the Human Resources department of a bank will do the trick if you want to get an interview. Has anybody on the boards had experience in obtaining a PWM internship over the winter? Are PWM internships at BB's and MM's even offered during the year? If so how hard are they to obtain?

-Jaspah

 
Dec 14, 2012 - 1:49am

Seeking a winter internship: Hoping for some guidance... PWM or IB? (Originally Posted: 11/01/2011)

I'm a junior at a non-target who's had two internships already, one of them being finance related (BO at a BB). However, I feel my resume although very solid and aesthetically as good as it can be really lacks finance experiences.

So I've decided I will try pursuing a winter internship this winter break (granted, only 1 month but I think it'll be worthwhile for the name).

I thought about trying to obtain a PWM or IB - which would be better? Obviously, I suppose most people would say IB but I feel like this might actually hurt me come interviews when they might expect me to know better because I had a "Investment Banking Internship."

What do you guys think? If I get an IB internship it'll be with a regional no-name boutique (Washington DC area) or if I get lucky a reputable MM firm in this region. I'll be doing this winternship hunt strictly via networking. I do truly believe I can get something

 
Dec 14, 2012 - 1:54am

Winternships? (Originally Posted: 10/13/2013)

Hi all. I am starting at a BB IB in Summer, and am a 5th year senior graduating in Fall. I wanted to pursue a wintership. Are there structured opportunities or unique opportunities that I would be able to pursue, or is my best bet brute force networking?

Thanks in advance.

 
Dec 14, 2012 - 2:03am

Off cycle/Winter 2013 Internship (Originally Posted: 09/18/2012)

Hi all,

There are many banks that are implementing their cost cut plan and cutting jobs. With that being said, are there any banks in New York or Toronto that are hiring for an off-cycle internship during the Winter?

Would these opportunities be posted on their website or do you have to know someone inside the bank to get the positions.

"Try and fail, but don't fail to try"
 
Dec 14, 2012 - 2:09am

Winter Break Suggestions (Originally Posted: 06/17/2013)

I was curious as to the responses I would receive regarding how to make the most of the winter break vacation given during undergrad. I have an option of going to London to take a finance course and tour for 3-4 weeks, however, I believe that my time could be better utilized. I know that recruiting for FT and SA is going on during this time as well, so I have tried to keep this in mind. As I am trying to break into the industry, a couple of questions I have are:

  1. Do any firms offer winter internships, either paid or unpaid?
  2. Job shadowing opportunities?

Any other suggetestions/advice would be helpful, this is just to get a general ideal of what would benefit undergrads most. Also, this is specifically for juniors/seniors in undergrad.

 
Dec 14, 2012 - 2:11am

I did a paid internship at an IM firm ($5B AUM) over my last winter break. I'm not sure what the over/under is for the amount of firms that actually offer stuff like that, though. My situation was unique in that I was only brought on because the firm had a project they didn't have the man power for.

 
Dec 14, 2012 - 2:13am

I spent my 5 week winter break during my 3rd year of undergrad at a boutique IB and worked on one deal that I was able to use as relative experience and land a SA position the immediate summer after.

I would strongly recommend cold calling/emailing local boutiques for winter positions if you do not have work experience and are looking for a SA position next summer. Smaller banks have key employees leaving for holiday trips and it was nice to have extra hands on deck to help with stuff.

 
Dec 14, 2012 - 2:14am

JUMP:

I spent my 5 week winter break during my 3rd year of undergrad at a boutique IB and worked on one deal that I was able to use as relative experience and land a SA position the immediate summer after.

I would strongly recommend cold calling/emailing local boutiques for winter positions if you do not have work experience and are looking for a SA position next summer. Smaller banks have key employees leaving for holiday trips and it was nice to have extra hands on deck to help with stuff.

Damn this is great advice. I'm currently going into my senior year and this summer am interning at a hedge fund in the city. When making these cold calls, do you think a paid offer is possible? Even though it's nothing I would love to spend my winter getting some experience while making even $15 or something an hour.

 
Dec 14, 2012 - 2:15am

Senior year winter break (Originally Posted: 10/05/2010)

Say, that (1)this semester has more or less become an over-stretched summer vacation with minimal coursework and other activities whatsoever, and (2) I got a FT offer that will start in July next year.

Do you guys think that it is crazy for me to work this winter at a reputable HF in my area or other buy sides? Should I enjoy every second of my senior year(which I'm doing right now by the way), or are additional 6 weeks worth investing for my future career?

I know someone working at the firm in question and I might have a good shot as an (un)paid intern in Dec-Jan. I feel like I can learn a ton there, heard that environment is great, and the hours are not that bad comparing to BBs. And let alone the connections that might(or might not, doesn't actually matter to me at this point though) come handy couple years later.... what do you guys think?

 
Dec 14, 2012 - 2:17am

Perception of Winter Internships (Originally Posted: 09/01/2016)

Hey guys,

I'm wondering how IB/Consulting recruiters see winter internships. For example, if I were to get a gig at a local HF/PE firm for the winter ... would it be valuable?

My friend at the Kelley School of Business said a recruiter would think "what??" if he/she saw such an internship, which is 1 month compared to the traditional 2 month ones in the summer

I am at a target school if it matters

Thanks,
chimp

 
Dec 14, 2012 - 2:21am
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