2026 Investment Banking Off-Cycle Internship – Milan (January 2026 start)

About Jefferies

Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research and wealth and asset management services. With more than 47 offices in 21 countries around the world, we offer insights and expertise to investors, companies and governments.

Our talented professionals provide a full range of advisory and underwriting services through creative and idea-driven M&A, leveraged finance, equity & equity-linked financing and restructuring & recapitalization solutions. With approximately 1,300 investment banking professionals we provide global coverage across all products and sectors.

Jefferies Italian Investment Banking Team, established in 2016 and based in Milan, has been extremely active in M&A and ECM transactions for Italian clients. We are looking for a candidate with a strong investment banking background and an entrepreneurial spirit.

Please note a business-level fluency in Italian is required.

What you can expect:

• Examining the strategic and financial merits of proposed transactions for marketing purposes
• Constructing economic models and performing financial valuation, discounted cash flow and multiples-based analyses
• Working within a team assisting seniors in preparing information memoranda and data rooms and coordinating the team’s processes
• Conducting industry and product research
• Analyzing detailed corporate and financial information
• Sharing ideas and actively supporting firm-wide efforts to improve the firm
• Supporting a team culture by working well with others

What we look for in a candidate:

• Outstanding academic credentials, ideally in a numerical subject
• Proven track record of achievements (University and extra-curricular)
• Prior relevant experience (M&A and/or capital markets transactional deal experience) as an intern or junior analyst
• Strong numerical and financial modelling skills
• Solid understanding of business and corporate finance principles
• Strong Excel and PowerPoint skills
• Strong team player with excellent interpersonal and communication skills
• Self-starter with the ability to work autonomously
• Good time management and organisational skills
• Ability to maintain professionalism at all times, demonstrate integrity and take ownership
• Rigorous attention to detail
• Fluency in English and Italian

What we like to offer you:

We would like to offer you a 3-month internship in the Investment Banking division based in our Milan office. Under the wings of the Italian Investment Banking team you will have the opportunity to work on high stakes deal situations with sector and product specialists from around the globe.

Equal Employment Opportunity and Reasonable Accommodations

At Jefferies, we are committed to building a culture that provides opportunities for all employees regardless of our differences and supports a workforce that is reflective of the communities where we work and live. As a result, we are able to pool our collective insights and intelligence to provide fresh and innovative thinking for our clients.

Jefferies is committed to creating and sustaining a workforce that welcomes individuals from all backgrounds to apply. Our employment decisions are made without regard to race, creed, color, national origin, ancestry, religion, pregnancy, age, medical condition, physical or mental disability, marital status, domestic partner status, sex, sexual orientation, gender, gender identity or expression, veteran or military status, genetic information, reproductive health decisions, or any other factor protected by applicable law. We are committed to hiring the most qualified applicants and complying with all federal, state, and local equal employment opportunity laws. As part of this commitment, Jefferies will extend reasonable accommodations to individuals with disabilities, as required by applicable law.