What is the Value of an Off Cycle Internship?
Off cycle internships are a great way for career switchers and recent grads to break into investment banking. Any hiring that takes place outside of the normal recruiting process is called off cycle hiring. Investment banks hire the majority of new analysts and associates through a regular annual recruiting schedule, but occasionally some firms have the need to staff up outside that schedule.
Off-cycle internships in investment banking can be just as valuable as typical summer internships and can help you gain skills and experience that you can leverage into different full time or summer analyst/associate positions. For example – if you are looking to get into investment banking after having worked in sales and trading internship – taking a fall semester internship to do financial modeling with an investment bank will help you gain valuable experience that you can talk about for interviews. Here are my top 4 tips to securing an off cycle internship.
4 Tips to Getting an Off Cycle Internship
1. Target smaller/boutique firms
Smaller boutique firms are more likely to have an irregular hiring program. These firms are often looking for help during hot markets and busy times.
2. Network, network, network
Getting in at smaller firms with off cycle hiring is often more dependent on networking than on the regular hiring process. Off cycle positions that come open are often required on demand, they have shorter recruiting periods. Already being on people’s radar screens is important.
3. Monitor Job Boards
Off cycle hiring positions usually get posted on the firm’s website, but may only be up for a couple of weeks. In order to increase your chances, you’ll need to monitor as many firms as possible. I recommend setting up google alerts.
4. Check Out Your School’s Career Resources Center Job Listings
Most small boutiques will list positions on school websites. I would recommend checking often. Timing is everything.
Some Firms that Offer Off Cycle Investment Banking Internships
Crosstree is a leading, specialty boutique investment banking firm with an exclusive focus on the life sciences and healthcare industries. Crosstree offers a full suite of strategy and corporate finance advisory services including: mergers and acquisitions, private capital placements, and value creation strategy consulting. Crosstree’s affiliate, Crosstree Capital Securities, LLC, is a registered FINRA member firm.
EDUCATION / EXPERIENCE / KNOWLEDGE / SKILLS AND ABILITIES:
Prefer MBA or MSF candidate, but finance undergrads with requisite knowledge will also be considered. Must be computer proficient with a basic knowledge of MS Excel, Word, and PowerPoint. Familiarity with various database platforms a plus. Must have excellent writing, communications, and logic skills. Must be energetic, motivated and able to take initiative on projects. Must be organized, dependable, reliable and professional.
Nfluence Partners (San Francisco, CA)
We are seeking people looking to gain experience in Technology, Media, and Telecom (TMT) Investment Banking team through internships in our San Francisco office. An internship is available in Fall 2021. Nfluence Partners is a boutique Investment Bank built to handle complex Mergers & Acquisitions and Capital Formation advisory services for TMT transactions. Operating out of San Francisco and New York City, Nfluence Partners thoughtfully maximizes value and realizes optimal outcomes for entrepreneurs and investors located around the world. Our Nfluence team brings years of industry experience in investment banking, capital markets, and C-level entrepreneurship and have established key relationships within Software, Internet, Digital Media, Mobile, Communication Technologies, and Telecommunications.
Qualifications and Responsibilities include: Strong intellectual curiosity in the TMT sector with a bias towards Technology and an ability to distill vast amounts of information into a concise and cohesive format Strong interpersonal and technical skill set as job entails significant interaction with colleagues and clients Build financial analyses (financial models, valuation analyses, merger modeling, etc.) Drafting of marketing material including selling memoranda or private placement memoranda Conduct and prepare TMT industry trends and product research Drive business development process (including, but not limited to, prospective clients and conferences) Prepare live deal deliverables for client meetings and diligence processes Ability to articulate and coordinate discussions of ideas and conclusions to senior team members and management Requirements Bachelor’s degree with strong academic record – Class of 2021 Minimum 3.5 GPA (No MBAs) Investment Banking experience helpful Demonstrated understanding of corporate finance, valuation analysis and accounting principles Passion for transaction advisory and execution Keen interest in the Technology, Media & Telecom sector Entrepreneurial spirit with excellent communication and presentation skills Benefits Health Care Plan (Medical, Dental & Vision) Paid Time Off (Vacation, Sick & Public Holidays) Retirement Plan (401k, IRA) Life Insurance (Basic, Voluntary & AD&D
JP Morgan (Europe, Asia Pacific)
Investment banking teams partner with corporate clients to achieve their strategic goals. Whether it is raising capital for an expansion or buying another company, investment bankers provide innovative and creative financial solutions for all clients’ needs. We’re looking for analytical thinkers who thrive on building long-term relationships. You’ll be part of a global, fast-paced team that does business with more than 80% of Fortune 500 companies. Depending on your location, you’ll work with us for three to six months during the spring, fall or winter.
Available in specific Asia Pacific or European locations, our seasonal internship typically runs across three to six months during your academic year. You will be provided opportunities to be involved in projects across that geography.
Our long-term internships are aimed at students in their penultimate year of university and recent graduates. They are typically between six and twelve months’ duration and start at various points throughout the year, depending on business needs. You will be assigned a mentor who will guide you through all the steps during your internship, and will give you feedback regularly. At the end of your internship program, we will evaluate your performance and consider you for a permanent position on the following year’s Analyst Program where applicable.
Bentley Associates (New York, NY)
Although Bentley is not currently hiring full-time entry-level professionals, we are actively seeking summer & winter interns for the coming year. These positions provide an opportunity for first year graduate business students and, in certain circumstances, highly qualified college graduates, to gain excellent experience by working directly with our Managing Directors. No undergraduates will be considered for these positions.
Individuals with the above qualifications wishing to explore the possibilities of an Internship with Bentley should email (no telephone calls).
AGC Partners finished its 17th year of business with record revenues, profits, and deals closed. We have built the leading global tech boutique focused on the mid- and micro-cap M&A and growth financing markets. We are the SaaS deal leader with 100+ closed deals and 400+ total completed transactions. AGC Partners has built a high-powered team of tech banking specialists with 21 partners across 10 cities, including London, New York, Boston, and San Francisco.
It’s really the people that make AGC Partners the kind of company it is. Our team is committed to making a difference every day in the communities in which we live and work. AGC Partners is a proud sponsor of various charities and is always looking for new ways to further its contribution both financially and through employees’ active involvement.
Oberon Securities (New York, NY)
We seek to add to our team highly experienced senior investment banking professionals who source and execute transactions with middle market companies. A career at Oberon Securities focuses on providing highly experienced investment banking professionals with opportunities for success in a dynamic and entrepreneurial environment. In the middle market, Oberon offers an unrivaled combination of resources, flexibility and success driven compensation that stimulates our 70+ person staff to work collaboratively and to take initiative. In turn, we are able to achieve our primary objective: to structure and close exceptional transactions that deliver results for our clients and as a consequence, for ourselves.
Established in 2011, Genz & Associates is a leading buy-side mergers and acquisitions advisory firm based in Manhattan Beach, CA. Our core focus is partnering with leading investors seeking to deploy capital into industry-specific platform investments, add-on/strategic acquisitions, and buy-and-build strategies. On behalf of our retained investors, we directly engage companies that coincide with their specific investment strategies and theses. We utilize information, resources, industry relationships, skill, and experience to undertake a targeted, proactive, and systematic approach to facilitate and close transactions.
Our firm has developed, cultivated, and maintained a proprietary database over the years of both privately-held companies and well-capitalized Investors. These investors include private equity firms, family offices, and corporate acquirors that are committed to deploying capital into high-quality companies through a well thought out investment strategy. In addition to liquidity for founders and shareholders, an experienced, well-established investor can provide capital to capture market share and drive growth as well as the ability to navigate volatility in the market and prepare for subsequent growth opportunities.
Founded in 2002, Maxim Group is a leading full-service investment bank, securities and wealth management firm headquartered in mid-town Manhattan at the iconic Chrysler Building. We provide a comprehensive array of financial services including investment banking, global institutional sales, equity research, fixed income and derivative sales & trading, merchant capital, private wealth management, and prime brokerage services to a diverse range of corporate clients, institutional investors and high-net-worth individuals.
Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board (MSRB).
Stone Pier Capital Advisors (Pittsburgh, PA)
SPC offers Sell-Side Advisory Services, Buy-Side Advisory Services, Debt Placement and Recapitalization Services, and Strategic and Financial Consulting Services. SPC combines its partners’ experience as not only outside advisors (including M&A, law, public accounting and, of course, investment banking) but also their prior experience as executives “inside” companies, a combined perspective that results in the provision of sophisticated yet practical advice to its clients.
The SPC Team has been through literally hundreds of transactions and is expert at working with acquirers of all kinds, lawyers, accountants and other deal professionals. We will coordinate the effort, keeping you informed the whole time and bringing key decisions to you for approval.
CITIC Securities Company (New York, NY)
CITIC Securities is the largest securities company in China, with businesses covering investment banking, brokerage, securities trading and asset management.
CITIC Limited (SEHK: 00267) is one of China’s largest conglomerates and a constituent of the Hang Seng Index. Among our diverse global businesses, we focus primarily on financial services, resources and energy, manufacturing, engineering contracting and real estate. As China’s economy matures and is increasingly weighted toward consumption and services, CITIC is building upon its existing consumer platform, expanding into complementary businesses that reflect these trends and opportunities.
How Can Getting the Offer Help?
We understand the financial recruiting landscape and have extensive experience working with hiring managers at Bulge bracket banks, Elite Boutiques and Private Equity firms. We can help you pinpoint what went wrong and help you course correct so that it doesn’t happen again.
Getting the Offer Services
- Clean-up, reformat and retarget your resume so that you can secure more interviews
- Linkedin profile analysis
- Sample mock interview questions
- Sample technical interview questions
- How to Break into Banking Networking Tips and Tricks
- Target Company recommendations
- Target Company Prep Exercises
- Mock-interviews
- Develop a customized networking strategy
- General guidance and support
We know the banks and know what they are looking for. With our guidance and support we will help you navigate this ultra-competitive job market and land your dream role.
