Quite often (and especially on this forum) we hear that junior bankers are almost entirely replaceable. If we hold this assumption to be true, how do banks justify hiring international students as analysts (in IB specifically; other divisions are a different story)?
To my knowledge, visa sponsorship is an extremely expensive process. Furthermore, banks need to justify why they are unable to hire someone who already has US work authorization (please correct me if I'm wrong). Why would a bank spend the time & money to hire an international student if banks truly consider junior bankers to be that interchangeable, and there are hundreds if not thousands of equally qualified candidates?
This isn't intended to be taken negatively - I'm just curious as to the rationale behind it.
Hi DalaiLama, any of these threads helpful:
Or maybe the following users have something to say: pjkenney Vishah Classic27
Fingers crossed that one of those helps you.
I am an international student so I know how the process works. I completely understand your reasoning. There are tons of intelligent, driven candidates aiming to get into IB, so it wouldn't make much sense to hire internationals.
From the conversation I had with those who work at BB IB/EB IB, these banks do sponsor because they don't want to limit the talent pool. Their rationale seems to be that they wouldn't want to discount someone who has the potential to be a rock star employee for their firm just because he or she is an international. Putting costs aside, the major issue for any companies in the States in hiring internationals is the risk of the candidate not earning the H1B visa through the lottery system. If they don't win the visa, they will have to leave within one year. To gain sponsorship they have to go through a lottery system, and have 33% chance of being successful. However, for these global BB/EB these risks won't very negatively impact them because they can send internationals back to their home countries.
All said, these banks definitely do recognize the costs/risks of hiring internationals. As someone going through recruiting as an international, I had my resume screened out by HR at many different firms because I am an international. Most of these banks also limit their spot for international hires because they wouldn't want a large portion of their analyst/associate class having to leave after one year.
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