MBA IB Associate - Sponsorship

Can confirm sponsors for the undergrad level ->

JPM, MS (case-by-case), GS, BAML, DB (again case-by-case), William Blair, Evercore, CVP, PWP (they've become more apprehensive but still do), Moelis, Houlihan Lokey, Stifel

I can confirm these banks because I personally know of an international going to one of these banks for summer 19.

My experience is that firms are actually more open for MBA grads.

It's getting worse and worse every year for both undergrads and MBAs. It's such a hassle to hire international students even when the bank's policy is technically "open." We had some truly outstanding candidates from Canada and the UK, for example, that we essentially had to let go in our process because of this (not officially of course). No longer are we looking to bring the best global talent to America, and that's a bad sign.

It's really to the point where I would honestly advise international students to hedge their recruiting risk and focus their attention in their home region, e.g. if from China to focus most of their attention in China, HK, SG.

Kids, here's the truth. Firms are not legally allowed to ask about your citizenship status. What that means is that a lot of firms will guess and discriminate ahead of time based on your name, work experience, languages etc. on your resume. If you are a US Citizen or Permanent Resident (Green Card holder) and have a foreign-sounding name I would 100% recommend adding that to your resume prominently (at the very top or very bottom).

Rocafella:

Hi folks,

Building off a solid discussion in a recent post about UBS's sponsorship for IB, I wanted to inquire on the recruiting landscape for IB Associates at MBA schools. How are internationals faring this year?

I'm a Canadian citizen who will be attending b-school in the fall of 2019, looking to recruit for IB. At your b-schools, which Banks are open to taking internationals, which banks are against it? It would be a huge help if you can name the school and how internationals have performed during this past recruiting cycle.

From other posts, I understand that a number of internationals miss out on internships due to heavy cultural differences that hold them back. Let's say this is not an issue (Cdn born and raised); what's the vibe like from the Banks coming on campus (ideally for NYC placement or even LA/SF)?

Shoutouts to MitchMitchell, @BridgeLoan_8", and @The Accidental Banker" for providing insights earlier - apparently BMO and Citi are not as open to sponsorship. Curious to hear others' experience so far.

Congrats! Which school are you attending?

This isn't even a question. If you want to work in investment banking in the U.S., go to school in the U.S. One could also argue that because the Canadian investment banking landscape is so bleak and recruiting is a much more difficult process with fewer jobs, if you wanted to work in investment banking in general you'd be better off going to the U.S.

So per the latest news on the H-1B lottery, "The final H-1B cap registration rule, which will reverse the order of the H-1B lottery process has been issued on January 30th. As per the rule, the regular lottery will be conducted first, giving those with a US master’s (or higher degree), a better chance of winning the H-1B lottery."

This is good news for internationals, like the OP, doing their MBA in the US. Anyone from NY/East-coast schools care to comment on IB Associate recruiting this year? Did internationals who networked properly and knew their technicals, end up with IB offers?

As a Canadian who just went through this very process, I can tell you that it's a pain in the ass even for Canadians. That said, it's still worth doing an MBA in the US vs. Canada. Comp after FX is nearly 2x what you'll make coming out of Rotman or Ivey. What US MBA programs don't advise internationals is how much harder it is to secure jobs. My US counterparts had access to 4x the number of postings, as only 2/10 firms sponsor. That's not limited to just banking. Nearly every industry is like that.

Best bets for IB recruiting are GS, MS, JP, BCS, CS, DB for larger banks. Think Citi stopped and BAML is becoming less receptive. For smaller firms, Blair, Baird, EVR, HL, SF, Lazard, Moelis. I can confirm that the Canadian banks won't do it for MBA hiring but will take on H1b transfers. Go on this website myvisajobs.com. You can search by firm, how many h1b certified hires have been made over the past few years. Goes without saying, don't bother with low numbers. Industry wide, the middle market firms have been doing well and they are much more open than in the past.

Outside of banking, all the consulting firms are very open to it. KPMG is the lone big 4 who won't at the MBA level. Will do h1b transfers. One overlooked aspect of post-MBA mobility is how easy it is to move around one or two years after Bschool. Consultants and bankers can easily meander between the two industries, especially if you already have some decent pre-MBA experience. With a good MBA network, you can easily find alumni with influence who'll go to bat for you. If you don't secure an FT offer, take on a consulting role or finance role and then start recruiting again after you secure the h1b. Worked out for me and an extra benefit is double dipping on signing bonuses.

Last point: there are many unknown variables that need to fall in place for foreign MBA students. Need internship offer > FT offer,>OPT approval for one year>win lottery,>get h1b approved. Any one of those aspects can fall thru, which is a big reason why companies don't like to take on internationals. However, qualified candidates will usually find a way IMO. Good luck.