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2026 | EMEA | London | FICC & Equities (Sales & Trading) | Seasonal/Off Cycle Internship

Goldman Sachs · Off-cycle · London, Greater London, England, United Kingdom

Last cycle's row, confirm before you apply

No deadline given. It closes when the places fill, which on a sought-after London desk is often weeks after it opens. Apply as if it closes tomorrow.

Posted 29 July
Apply on the firm's site

Team: FICC and Equities (Sales and Trading). Global Banking & Markets (Public) / FICC and Equities (Sales and Trading) enables our clients to buy and sell financial products, raise funding and manage risk (source)

Who to write to at Goldman Sachs

What this title actually means

This is the 2026 EMEA off-cycle internship in London in FICC & Equities, inside Goldman's Global Banking & Markets division, corporate title 'Seasonal'. The firm says the Off-Cycle Program varies in length depending on the programme and the university, is for undergraduate students, and gives you training and real responsibilities alongside its people. The page carries a date of 29 July 2026. Source

The firm labels the business 'Global Banking & Markets (Public) / FICC and Equities (Sales and Trading)' and says it enables clients to buy and sell financial products, raise funding and manage risk, making markets and facilitating client transactions in fixed income, equity, currency and commodity products. Source

FICC is fixed income, currencies and commodities - rates, credit, FX and commodities. Equities is cash equities, equity derivatives and the financing around them. Sales owns the client relationship and the order flow; trading owns the price and the position. Both are short-cycle jobs measured daily, which is the real difference from banking: you find out whether you were right this afternoon, not in six months.

The '(Public)' in Goldman's own division label is the wall. Markets works from public information and is kept away from the deal information Investment Banking holds. That decides your preparation - a trade idea with a number and a risk on it, mental arithmetic, and knowing what moved this week - and it means this is not a side entrance into banking.

The team

No desk is named. FICC & Equities is not a team, it is a cluster of dozens of them, and an off-cycle intern joins one specific desk rather than a class - so the desk exists and this page simply does not tell you which it is. That is the first question to ask whoever replies to you, because rates, credit, FX, cash equities and derivatives are five different jobs sharing one posting.

The firm says it makes markets in and clears client transactions on major stock, options and futures exchanges worldwide, and that through its global sales force it maintains relationships with clients, receives orders and distributes investment research, trading ideas, market information and analysis. Source

28 people have held London roles in Goldman Sachs' FICC division since 2018 - one half of the business behind this posting.

29 people have held London roles in Goldman Sachs' Equities division since 2018, the other half and the larger of the two.

The firm

779 people have held London roles at Goldman Sachs as a whole since 2018, across banking, markets, research and asset management.

What this posting signals

The year in front of the title is 2026 and it is now September 2026: this is the current cycle's row, not next year's. An off-cycle seat labelled 2026 on a page dated late July is either already taken or starting within weeks rather than next summer. We do not mark a posting closed until the firm does, so treat it as unverified rather than gone - but confirm the seat still exists before you spend one of your four applications, and look for the 2027-labelled version if you need a start further out.

No deadline is stated. Markets off-cycle seats are filled when a desk needs cover and someone suitable turns up, which on a row this old means the useful move is an email to the recruiter rather than a form submitted into silence.

Are you eligible?

The Off-Cycle Program is for undergraduate students and its length varies based on the programme and the university. You may apply to up to four separate business and location combinations in any given recruiting year; any additional application is automatically withdrawn, and to add one you must first withdraw a current application that has not been turned down. Creating multiple email addresses to apply to more opportunities is not permitted. Source

The page gives no graduation window, no degree subject and no right-to-work line, so every one of those filters lives in the application form. If you need sponsorship, establish that first - the four-application cap makes a wasted application cost a quarter of your year at this firm.

Ready to apply?

No deadline given, so it closes when the places fill.

Apply on the firm's site

Before you send it

Most junior seats are filled by someone writing to the right person before a portal fills up. Here is one of the people Goldman Sachs publishes, in full.

1 person. Their role, the page the firm names them on, and how to reach them

David Solomon
Chairman and Chief Executive Officer

Search their name and the firm on LinkedIn.

The route that always works, and the one they are most likely to read.

The firm publishes this person, and publishes no address we could read for anyone here, so there is no pattern to show you either. Search their name and firm on LinkedIn and write from your own account.

What membership includes

Get your CV read and rewritten free, and with off-market intelligence, tailored to this exact desk, rebuilt around what this team actually does rather than what the advert says.

Words in this posting, explained

Tap one to read what it actually means. Two minutes each.

Sales & Trading
product group
Off-Cycle Internship
programme

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Last cycle's row, confirm before you apply