Off-Cycle Investment Banking Analyst Intern, Madrid

About the role

Citi is looking for talented and ambitious Off-Cycle Analysts to join its Investment Banking team in Madrid, starting in January 2027. The group advises corporate clients on capital market fundraising and financial transactions. As an intern you will contribute to projects such as mergers, acquisitions, divestitures, financial restructurings, and the underwriting and distribution of equity, debt and derivative securities. The 6-month Internship Analyst programme is full-time and recruits on a rolling basis.

Key responsibilities

• Collect and analyse company-specific information, conduct industry research and organise financial data to support transaction execution.
• Analyse financial data and build financial models covering valuations, discounted cash flow (DCF) analysis, financing structures and comparative analyses.
• Create and refine new business development presentations that explain complex financial concepts.
• Coordinate tasks and workflow with internal teams and external stakeholders.
• Prepare internal documentation in line with control and compliance regulations.

Required profile

• Currently pursuing an undergraduate or master's degree, or recently graduated.
• Expected to achieve, or have achieved, a 2:1 (or equivalent); Spanish university graduates need a grade of 7 or above.
• Genuine interest in business and finance and a strong academic record.
• Fluency in English and Spanish, with strong verbal and written skills in both.

Required skills

• Excellent communication skills and strong planning and organisational ability.
• Intellectual curiosity, proactivity and adaptability in a fast-paced environment.
• Commitment to integrity and ethical decision-making.

The salary range is EUR 37,600 to EUR 56,400. Applications are encouraged as early as possible because recruitment is on a rolling basis.