Off-Cycle internship
An off-cycle internship is a placement that runs outside the usual summer window, starting at other times of the year and often lasting longer than a summer. Firms use it to fill a real gap in a team, so the work is usually closer to a full-time job than a summer programme is.
Because there is no fixed intake, places open whenever a team needs someone and close as soon as they are filled. Boutique advisers, investment funds and some large banks use off-cycle places far more than formal summer schemes.
It suits people who have finished university, are taking time out, or whose course allows a term away. A strong off-cycle placement can lead to a full-time offer or a place on the firm's next intake, and it is valuable experience to take to other applications either way.
Open jobs
| Job | Firm | Level | Stage | Posted |
|---|---|---|---|---|
| Quantitative analysis · Commodities / Portfolio management |  Balyasny Asset Management | Off-cycle | Master's students | 4 days |
| Infrastructure |  EBRD | Off-cycle | Japanese nationals · Second-to-last year at university or later | 5 days |
| Off-cycle internship |  Nordic Capital | Off-cycle starts Mar 2027 | 6 days | |
| Sales and trading · Commercial |  JPMorgan | Off-cycle | Second-to-last year at university or graduates | 6 days Closes 29 Nov |
| Sales | JPMorgan | Off-cycle | Second-to-last year at university or graduates | 6 days Closes 29 Nov |