Guide
Investment banking recruiting timeline: the 2026–27 cycle
Updated November 1, 2026
For summer 2028 internships, recruiting is already under way. Some boutique banks began taking applications in September and October 2026 (Yale OCS), and most bulge-bracket banks are expected to open in December 2026 and January 2027 (Extern). Recruiting for junior-year internships usually begins in sophomore year (Yale OCS), so the class graduating in 2029 is recruiting now.
Dates as of October 29, 2026. Postings move; check each bank's careers page.
When do banks open summer 2028 applications?
Boutiques first, from September 2026; most bulge-bracket banks are expected in December 2026 and January 2027. Month by month:
| When | What happens | Source |
|---|---|---|
| September–October 2026 | Some boutique banks open applications for summer 2028. Evercore opened on September 9, 2026. | Yale OCS; Extern |
| October–November 2026 | Moelis posted its Houston role on October 5 (closes December 14; other US offices expected late December). Evercore closes November 15, and it does not review applications on a rolling basis. Houlihan Lokey is expected in November. | Extern |
| December 2026 (expected) | JPMorgan, Citi and Lazard. | Extern, projection |
| January 2027 (expected) | Goldman Sachs, Morgan Stanley, Bank of America, Centerview and PJT Partners. | Extern, projection |
| After you apply | A first round, often a recorded video interview, then the superday. | Goldman Sachs; Yale OCS |
Only Evercore's and Moelis's postings were confirmed when Extern updated its guide on October 9, 2026; the other dates are its projections from the previous cycle. Last cycle, many firms opened summer 2027 applications on January 1, 2026 (Cornell Career Services), and the main window closed in about six weeks (Extern). Apply in the first days after a posting appears.
What should sophomores do now?
Check postings every week, network, and prepare the technicals before any invitation arrives.
- Check postings every week. Applications are typically rolling, and you may be asked to interview shortly after you apply (Yale OCS).
- Network. Yale's career office calls networking "an important step" in IB recruiting (Yale OCS). Your school's careers office can help you find alumni at a bank (Goldman Sachs).
- Prepare before the invite. "Don't wait for an interview invite to start preparing" (Cornell Career Services). Start with the core technical questions.
- Look at early programs. JPMorganChase's student site lists eight "Early Insight (pre-internship)" programs worldwide (JPMorganChase). MLT's Career Prep starts in sophomore year (MLT), and SEO Career prepares undergraduates for summer internships, including in financial services (SEO).
- Practice the first round. Many first rounds are recorded video interviews. How to practice for a HireVue →
Frequently asked questions
- When do investment banking internship applications open for summer 2028?
- Some boutique banks opened in September and October 2026, and most bulge-bracket banks are expected to open in December 2026 and January 2027, according to Extern's guide updated October 9, 2026.
- When should I start recruiting for investment banking?
- In sophomore year. Yale's career office says recruiting for junior-year internships usually begins during your sophomore year.
- How long are investment banking applications open?
- Not long. Extern says the main window closed in about six weeks last cycle, and some firms review applications on a rolling basis, so apply as soon as a posting appears.
- When does Evercore's summer 2028 application close?
- November 15, 2026, according to Extern. It opened on September 9, 2026.
Sources
- Yale Office of Career Strategy, “Investment Banking: 2028 Summer Internship Overview (For Sophomores)”, September 28, 2026.
- Extern, “Investment Banking Internships 2028: Which Banks Are Hiring and When to Apply”, updated October 9, 2026.
- Cornell Career Services, “Finance Recruitment for Summer 2027”, December 22, 2025.
- Goldman Sachs, “Prepare (Students)”, checked October 29, 2026.
- JPMorganChase, “Programs (Students)”, checked October 29, 2026.
- Management Leadership for Tomorrow (MLT), “Career Prep”, checked October 29, 2026.
- Sponsors for Educational Opportunity, “SEO Career”, checked October 29, 2026.