10 Investment Banking Internships to Apply To in 2026
- Stephen Turban
- 4 days ago
- 9 min read
Insight programs are one of the best ways into Bulge Bracket and Elite Boutique investment banking. Students who get into one of these programs are roughly 5 to 10 times more likely to convert into a Summer Analyst offer than students who skip them and apply through the open online portal.
That's the entire reason to care. The 10 programs below are the ones that actually move the needle in 2026. Some are open to anyone with a 3.3 GPA and a laptop. Some require you to identify with a specific community. Every one of them is worth more than a cold application in October of your junior year.
As the founder of WSG, I've worked with students who have broken into Goldman Sachs, JPM, and the top elite boutiques, here’s the list I would send a sophomore today.
What is a sophomore insights program?
A sophomore insights program is a one-day to multi-week program run by an investment bank for second-year undergraduates. It combines technical training, exposure to senior bankers, and at the strongest programs, a fast-tracked interview pipeline into the firm's Summer Analyst class the following year. The strongest insights programs are accelerated pipelines where the firm pre-scores you for a real offer, not networking events with name tags.
Are sophomore insights programs only for diverse candidates?
No. Roughly half are diversity-focused (open to students who identify as Black, Hispanic, Native American, women, LGBTQ+, or veterans). The other half are open to all sophomores meeting a GPA cutoff. Diversity-track programs tend to be smaller, more intensive, and convert to offers at materially higher rates than open-channel applications. If you qualify for any of them, apply.
How these programs actually work (the bank's perspective)
Most students approach insight programs like they're scholarships. They are not. Banks run them for three specific business reasons, and once you understand the business reason you can engineer yourself into being the candidate they want.
First, top-of-funnel filtering. Banks want to identify high-potential sophomores 12 to 18 months before the open Summer Analyst cycle so they can lock in offers ahead of competitors. Evercore is now extending offers in March of sophomore year. JPMorgan is moving earlier each cycle. The insight programs are the funnel.
Second, diversity pipeline. Most banks have explicit goals for hiring underrepresented analysts. Insight programs are the cleanest way to source qualified candidates at scale and lock them in early.
Third, brand and reputation. A student who attends a great Goldman insight program tells their entire finance club. That is free recruiting marketing the bank does not have to pay for.
What they look for in candidates, in roughly this order: GPA at or above the program cutoff (3.3 to 3.5 for most BBs, 3.7+ for EBs), demonstrated finance interest beyond "I want to do IB" (finance clubs, modeling competitions, prior internship, stock pitches), a sharp "why this firm" answer that goes past prestige, communication and fit, and for affinity-track programs a diverse perspective on top of all of the above.
To be competitive, do the unglamorous work early. Lock in your GPA freshman year. Join a finance club by sophomore fall. Get at least one finance-adjacent internship before junior summer. Draft a real "why this firm" answer per target bank. Start networking by emailing analysts at the firm's office and group you want.
Bulge Bracket Insights Programs
These programs funnel directly into BB Summer Analyst seats. The top ones extend interview offers to insight program participants ahead of the open recruiting cycle.
Goldman's clearest path in for non-target sophomores.
The Possibilities Summit is technically for rising freshmen. The Virtual Insight Series is what sophomores actually apply to. It's a multi-part virtual experience that introduces students to GS divisions, runs interactive workshops with current bankers, and is the most commonly cited entry point into Goldman's pipeline for students who did not attend a target school. Acceptance into Possibilities Summit is below 1 percent of applicants. Virtual Insight Series is materially less selective.
Eligibility: Possibilities Summit is for rising freshmen. Virtual Insight Series is open to sophomores at any school.
Deadline: Possibilities Summit closed for 2026. Virtual Insight Series runs throughout the year.
Who they look for: High-GPA candidates demonstrating finance interest, especially from non-target schools.
Concrete takeaway: Apply to Virtual Insight Series and treat it as one channel of five. Goldman's pipeline rewards candidates who also cold-email analysts into specific groups (TMT, healthcare, FIG, RX).
Launching Leaders comes with $15,000 in scholarship plus a Summer Analyst seat for African-American, Hispanic-American, and Native-American sophomores.
JPMorgan runs three sophomore programs that funnel into its Summer Analyst pipeline. Winning Women is a one-to-two-day program for sophomore and junior women across multiple divisions, including IB. Launching Leaders is the scholarship program. Sophomore Edge is open to all sophomores meeting the GPA bar. I have mentored two students into JPMorgan IB through Launching Leaders. The $15,000 is real. The summer analyst seat is real. The application closes earlier than most candidates realize, typically late fall of sophomore year.
Eligibility: Winning Women is sophomore and junior women. Launching Leaders is Black, Hispanic, or Native American sophomores. Sophomore Edge is open to all.
Deadline: Typically late fall of sophomore year.
Who they look for: Strong GPA, clear "why finance" story, and for Launching Leaders, an underrepresented background.
Concrete takeaway: If you qualify for Launching Leaders, this is the single highest-leverage application you can submit as an underclassman.
The first stage of Morgan Stanley's actual Summer Analyst recruiting process.
Early Insights is a two-week virtual program covering Revenue and Technology divisions, including IB. Selected students participate in workshops and network with current MS team members. Crucially, the program is not a side door. It's the first round of Morgan Stanley's Summer Analyst pipeline. Students who complete it are evaluated for fast-tracked interviews, and the conversion rate to offers is materially higher than the open application channel.
Eligibility: Second-year students in a 4-year degree, first-year students in a 3-year degree.
Deadline: Applications typically open December, close early March. 2026 cohort closed March 1.
Who they look for: Sophomores ready to enter the SA recruiting cycle a year ahead with strong GPA and clear interest in Revenue or Technology divisions.
Concrete takeaway: If you're a current freshman with sophomore status next fall, mark the December-January window on your calendar now.
The most accessible bulge bracket insights program because it has no diversity-track requirement and a reasonable 3.3 GPA cutoff.
Citi Early ID is a three-week virtual program for current sophomores. It combines mentorship, technical training, career coaching, and interview prep. Students apply to one or two business tracks including Investment Banking, Capital Markets, and Sales and Trading. The Spring 2026 cohort started March 23 and the application closed in late February. The program is a direct pathway into Citi's 2027 Summer Analyst cycle.
Eligibility: Current sophomores with a 3.3+ GPA. No diversity-track requirement.
Deadline: Spring 2026 cohort closed in late February. Next cycle opens fall 2026.
Who they look for: Sophomores at any school with a strong academic record, ready to commit to a 3-week virtual program.
Concrete takeaway: If you're a sophomore at any school with a 3.3+, this should be at the top of your application list before standard recruiting opens.
The only program on this list that is itself a paid 10-week summer internship for sophomores.
BofA's Global Investment Banking Sophomore Summer Analyst Program is a structured 10-week internship for second-year students with graduation dates between December 2027 and August 2028. Successful completion converts directly into placement in the junior Summer Analyst program the following year. You skip the open recruiting cycle entirely. Applications for the 2026 cycle closed earlier this year. The 2027 cycle opens September 1, 2026.
Eligibility: Sophomores graduating between November 2027 and August 2028, 3.5+ GPA preferred.
Deadline: 2027 cycle opens September 1, 2026.
Who they look for: Sophomores with a strong GPA, strong extracurriculars, and demonstrated IB-specific interest.
Concrete takeaway: This is the most direct sophomore-to-IB-analyst pipeline on Wall Street, full stop. If you're a current freshman, apply the moment the September 1 window opens.
Elite Boutique Insights Programs
These are smaller, more selective, and convert at higher rates than BB programs. EBs target a tighter list of schools and academic profiles, so the bar is materially higher.
Evercore moves earlier than nearly any other firm, and sophomores who aren't on the firm's radar by sophomore fall are typically locked out.
Evercore runs Intro to Investment Banking sessions, sophomore-specific programming for Private Capital Advisory, and the Rising Junior Scholarship, which offers $15,000 plus a Summer Analyst position. Applications for the Summer 2026 cycle ran January through February, with offers extended April through May. Sophomore Evercore programs feed directly into the firm's notoriously fast Summer Analyst recruiting cycle: first rounds in March, offers in April.
Eligibility: Sophomores at target and target-adjacent schools, 3.7+ GPA preferred. Rising Junior Scholarship has separate diversity criteria.
Deadline: Summer 2026 cycle ran January through February. Summer 2027 cycle opened January 2026.
Who they look for: Polished, technically prepared sophomores who can already walk through a DCF and tell a sharp "why Evercore" story.
Concrete takeaway: If you have any interest in Evercore, applying to their sophomore programming is non-negotiable.
One of the most underrated EB pipelines because Lazard is more selective than its competitors about who they bring in.
Lazard Early Insights is a multi-day workshop in spring for sophomore students from underrepresented backgrounds. It provides early exposure to IB, networking with Lazard bankers, and feeds directly into Summer Analyst interviews. Applications typically run January 15 to February 15 of sophomore year. Lazard partners with SEO Career, so sophomores already in the SEO pipeline often have a dedicated recruiting track.
Eligibility: Sophomore students from underrepresented backgrounds. Lazard partners with SEO Career for an additional dedicated track.
Deadline: January 15 to February 15 of sophomore year.
Who they look for: Diversity-eligible sophomores with strong academic records and clear M&A interest.
Concrete takeaway: Students who complete Early Insights with a strong technical interview convert to offers at materially higher rates than the open channel. Do not skip this if you are diversity-eligible.
The hardest EB to break into, period.
Centerview runs invitation-only sophomore events and feeds into a Summer Analyst program with an estimated acceptance rate below 1 percent. Recruitment for Summer 2027 began January 5, 2026 and closed in early March. Centerview's sophomore programming is not posted publicly. You either get an invitation through your school's career center or through aggressive networking with current Centerview analysts. The firm primarily targets students from a small list of feeder schools.
Eligibility: Top GPA at Wharton, Harvard, Yale, Princeton, and a small set of additional feeder schools.
Deadline: Summer 2027 recruiting closed in early March 2026.
Who they look for: Exceptional sophomores at feeder schools with proven analytical horsepower.
Concrete takeaway: If you're not at a Centerview feeder school, your best path is networking your way into an analyst referral, not waiting for a public application.
Boutique and Diversity-Focused Programs
The last two on this list are smaller programs that punch above their weight, especially for diversity-eligible candidates.
The most accessible EB sophomore program for diversity-eligible candidates because the format is shorter and the cohort is larger than Lazard or Centerview.
The Moelis Young Leaders Diversity Program is a one-day immersive program for college sophomores from underrepresented backgrounds. The format combines case studies, discussions with senior bankers, and dedicated mentorship. Moelis offers Opportunity Scholarships of $2,500 plus to select participants. Like other EBs, Moelis recruits early: the firm conducts Superdays for Summer 2027 between February and April 2026.
Eligibility: College sophomores from underrepresented backgrounds.
Deadline: Typically January of sophomore year. Summer 2027 Superdays ran February through April 2026.
Who they look for: Diversity-eligible sophomores with strong academics and a clear "why M&A" perspective.
Concrete takeaway: The conversion rate to Summer Analyst is real but lower than Launching Leaders or BofA Sophomore SA. Treat Moelis as one of several applications, not your only shot.
One of the few real entry points into IB if you're not at a target school but qualify for an affinity track.
Jefferies runs diversity-focused symposiums for sophomores from underrepresented backgrounds, with affinity-based recruiting tracks: J-NOBLE for Black and Latino students, J-VETS for veterans, and J-WIN for women. Applications typically open January through February of sophomore year, with Superdays in March through April. The symposium feeds directly into expedited interview pipelines for Summer Analyst. Jefferies has been increasingly competitive over the past three years as the firm has scaled.
Eligibility: J-NOBLE for Black and Latino students, J-VETS for veterans, J-WIN for women.
Deadline: January through February of sophomore year.
Who they look for: Diverse sophomores with strong GPAs and clear IB interest. Affinity-track members get internal employee network support.
Concrete takeaway: If you qualify for any of the affinity tracks, apply to all three you're eligible for, not just one.
The actual game plan
If you're a sophomore reading this in 2026, here's the priority order for the September 2026 application window:
Apply to JPMorgan Launching Leaders if you qualify. The scholarship plus the SA seat is the highest-leverage move on this list.
Apply to BofA Sophomore Summer Analyst Program the moment applications open September 1, 2026.
Apply to Citi Early ID if you have a 3.3+ and want a real bulge bracket pipeline regardless of background.
Apply to Morgan Stanley Early Insights when applications open in December.
Apply to Evercore, Lazard, and Moelis sophomore programming in January.
The candidates who break in from non-target schools without a family banker do it by stacking these applications, not by relying on one. If you're eligible for five of them, apply to all five. The marginal effort is a few hours of essays. The marginal upside is a summer at Goldman.
The students I've seen succeed all started one cycle earlier than they thought they needed to. The ones who got rejected from junior recruiting in October of their junior year almost always tell me the same thing: I wish I'd applied to insights programs in February.
Stephen Turban is the co-founder of Wall Street Guide and Lumiere Education. He graduated Magna Cum Laude from Harvard College in Statistics, worked as an Business Analytics Fellow at McKinsey & Company. He founded WSG to give ambitious students the same insider access to finance and consulting recruiting that top-school students take for granted.
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