Investment banking · Advisory

You spend six months as an intern on a deal team at an independent advisory firm, doing the analyst's work on live mergers and acquisitions. The firm's name for the seat is Off Cycle Intern. You join a sector or deal team in London or Paris that advises companies, investors and governments on buying and selling businesses, on raising money and on restructuring, which is reworking a company's debts when it cannot pay them. The firm advises and earns a fee. It does not lend or trade.

An off-cycle internship runs outside the summer. The firm uses it to fill a real gap in a team, so you do the same work as a first year analyst rather than a programme built around interns. This intake starts in July 2027 and runs for up to 6 months.