With the global investment banking industry entering a new hiring cycle, major banks have started posting 2023 and 2024 internship opportunities. Landing a role can be highly competitive, so aspiring candidates should prepare early. This article will provide crucial application tips and list key deadlines for various global investment banking internships open for the 2023 and 2024 batches.
Goldman Sachs and Morgan Stanley Offer Abundant UK Internships for 2024 Graduates
On July 1st, 2023, Goldman Sachs kickstarted its 2024 recruitment drive for UK graduates by massively opening hiring for roles across front office, middle office and technology functions. This unusually early move signals the beginning of the 2024 graduate recruitment season much earlier than the typical August-October window. Morgan Stanley, JPMorgan and other banks have also opened certain UK 2024 programs. The early openings represent prized opportunities for candidates to get ahead of the fierce competition expected later in Fall 2023. When positions fill up early, banks often close postings on a rolling basis regardless of stated deadlines. Therefore, interested candidates should apply as soon as ready rather than wait.
Citi, Credit Suisse and UBS 2023 Summer Programs Still Open in Singapore and Hong Kong
In major Asian financial hubs, several investment banks still have 2023 summer associate and internship positions open to applications for undergraduate and postgraduate students graduating December 2023 onwards. Openings can be found at Citi, Credit Suisse, Deutsche Bank and UBS in locations, including Singapore and Hong Kong. However, the recruiting timeline moves quickly – Credit Suisse’s Singapore Compliance Academy Graduate Programme deadline passed on January 13th, 2023. Most other programs close by January 31st. Interested candidates that meet eligibility criteria should submit applications soon.
Boutique Investment Banks Boast High 2023 Full-Time and Intern-To-Full-Time Return Offer Rates
While major investment banks like Morgan Stanley and Goldman Sachs have seen lower full-time and intern-to-full-time return offer rates in 2023 (with some groups BELOW 50%), elite boutique firms like Centerview and Evercore have enjoyed FULL intern classes converting and near 100% return offer achievement. This demonstrates boutique banks’ resilience amidst industry turndowns and their ascendance as lucrative alternatives for aspiring investment bankers. Across Moelis, PJT Partners, Perella Weinberg, Centerview, Evercore and more, full-time and internship positions remain open for talented candidates.
Tips to Reapply Successfully After Investment Banking Internship Rejection
Highly-coveted investment banking internships and full-time roles inevitably come with stiff competition. Even qualified applicants can find themselves missing return offers. Luckily, all is not lost. Dedicated candidates should reflect deeply, pinpoint areas needing improvement, then reattack recruiting. For full-time reapplying, the key August-September window after summer internships ends sees banks scramble to backfill headcount needs. Alternatively, enrolling in a relevant Master’s program buys another year to strengthen credentials and network.
The 2023/2024 investment banking hiring cycle is underway with major banks posting internship openings since July 2023 to capture early interest. However, key application deadlines fall between January to March 2024. Savvy candidates will leverage the long runway to perfect resumes, practice interviews, and engage banks through campus events. Boutique investment banks can also provide safety given their strong full-time and return offer rates.