Just curious if there were any unwritten rules about applying to off-cycle internships at a bank that I will be having my 2025 summer internship with. Recently landed Big 5 IB for next summer and working in corp fin this summer, but want to perhaps pick up another internship for this fall or next winter.
Also, should I be putting ‘incoming’ on my resume when applying for off cycle at other banks?
Thank you!
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Based on the WSO threads and discussions, there are a few key points to consider when applying for off-cycle internships at the same bank where you have a future summer internship, or at other banks:
No Unwritten Rules, but Tread Carefully: There aren't specific unwritten rules against applying for off-cycle internships at the same bank where you have a summer internship lined up. However, it's crucial to communicate transparently with your HR contact or mentor at the bank about your intentions. This ensures that there are no misunderstandings and that they don't perceive your actions as a lack of commitment to the upcoming summer internship.
Leverage Your Position: Being an 'incoming' summer analyst can actually be a strong leverage point when applying for off-cycle internships, whether at the same bank or others. It shows that you have already passed a rigorous selection process and are considered a valuable future asset.
Resume Labeling: When applying for off-cycle positions at other banks, it is advisable to include 'Incoming Summer Analyst at [Bank Name]' on your resume. This tag can significantly enhance your resume as it demonstrates your upcoming commitment and the trust another reputable institution has in you. It also clarifies your availability timeline, which is crucial for off-cycle roles that often have specific time requirements.
Networking and Internal Advocacy: If you're considering an off-cycle internship at the same bank, use your network within the bank to express your interest and seek advice. Sometimes, internal recommendations can facilitate the transition into an off-cycle position.
Consider the Timing and Commitment: Ensure that the off-cycle internship does not overlap or conflict with your summer internship. Plan so that you can fully commit to both opportunities without compromising the quality of your work or your professional reputation.
In summary, applying for off-cycle internships, whether at the same bank or elsewhere, can be a strategic move to enhance your experience and exposure in the industry. Just ensure to handle it with professionalism and clear communication.
Sources: Which Banks Recruit Outside of Their Intern Classes? (Or Take Off-Cycle Analysts), Off Cycle Recruiting Stories, https://www.wallstreetoasis.com/forum/job-search/ibd-sa-after-graduation?customgpt=1, What is off-cycle hiring looking like as interns are finishing up and getting offers?, Investment Banking Off-Cycle Internships London-Amsterdam-Madrid Fall 2020
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