Move from USA to London/Europe
I'd like to get your opinions on moving from the US to London or other areas of Europe and how plausible it will be for someone in a front office role to make this move.
Currently work for a global fixed income asset manager. Am looking to move to Europe, specifically London or Netherlands. Looking to stay within investment management or explore opportunities in banking, PE, or VC. Willing to take lower level role.
I hold a masters degree and have 4 years of front office work experience. I know there are always posts about salary and hours, none of this matters to me as I know the hours and the pay will work its way out.
What I would like to know is how likely it is to make this type of transition. I've already tried to get my current employer to allow me to move to our European office with no luck even though our firm is doing well (most of our assets are US based). I don't like my boss/group anyway so have no reservations about leaving.
Please don't ask the "why would I want to move to Europe?, it's going to shit" type questions. I have my reasons.
Are there specific steps I should take when applying for jobs? Should I use the company websites when applying to IBD positions? Most of my network is US based, with a few in London, but not many. I know making a transition to another country has many challenges, but this is something I am really looking forward to.
Has anyone here made a transition like this? Also, are there any stories of people moving from IM to PE, VC, or IB? I know most of the posts are about moving from banking to the "buy side." But has anyone ever gone the other way?
Thanks in advance for your replies, If there are any questions to me, I'll try and follow up as soon as I can.
Many thanks.
I moved from the U.S to Europe to get my master's but no job. Just wanted to comment on that because I'm kind of interested in your question...
Do the online apps, but those alone will fail you. You must find a way to make "soft" contacts. Call all your friends who work in Finance - do they know someone who lives abroad? Can they forward your resume to them? Get numbers, make cold calls. Use LinkedIn, and use it vigorously. People are willing to help on that extraordinary social networking site.
If you can get in front of as many people abroad by any means possible and by any means of communication, the shotgun approach can bode well.
I wish the best of luck.
How else can he accomplish this monkeys?:
Getting a work Visa is getting more difficult. Last I heard they abolished the Tier 1 highly skilled worker Visa to new applicants. That means you would need company sponsorship. At the end of the day it is not that easy to find a new company to sponsor you because there are so many candidates in London looking for work (with valid permits) already.
I would imagine the work permit situation is the obstacle. Few years ago, they had the Tier 4; you could get a Masters+ in UK and stay for 2 yrs on a Tier 4.. but I believe that's gone.
If you don't have an EU passport it will be tough and you will be at a huge disadvantage. There are thousands of unemployed bankers here with the right to work in Europe. All the major BB's have laid off huge numbers and there are more cuts to come. On top of that, there is a growing shift in attitudes to foreigners with the down turn and many people are calling for a cap on immigrants. Politicians are pandering to this base with caps on Visa's being lowered, even for highly skilled workers.
You need that network. Call/e-mail the people you know living abroad (and not only the place to which you want to go) and ask them to send your resume around and recommend you here and there. Boost your resume by showing what you did for international clients and non-U.S. deals.
I don't know how your language situation is, but being bilinngual would help you greatly.
Bottom line : be ready to endure a pretty harsh hiring experience especially if you will need a working permit/Visa.
The easiest way to move is within a company - most of the BBs have UK presence, and for a short time gig (say 2 years), they shouldn't find it too difficult to action this.
When I worked at Bloomberg, it happened pretty often, especially when there was someone in the same/similar role across the pond who also wanted a switch.
Getting a job across the pond on the other hand is not exactly a walk in the park - there's paperwork to be done, there's a financial implication, and it's a bad economy with lots of local talent currently unemployed. I'm a bit pessimistic to the possibility of this happening.
Contact head hunters that are over there or US HH's that have links across the pond.
You can also use the search function on your BB terminal to find alumni overseas, "Decision makers" at the firms you would want to work for, or people that have previously been at your firm and have moved.
How hard is it to go from Analyst in US to London? (Originally Posted: 10/07/2015)
If you start in the US as an analyst in M&A or capital markets, how difficult is it to jump across to London to a comparable job? Is it best to work for 1 year, 2 years? Do they accept many people from the US after work experience or do they try to hire their own citizens?
Would you have to go to business school for this? Oxford and Cambridge have surprisingly low average gmat scores for their MBA program.
No, it should not be any problem at all. There's a ton of foreigners working in London.
Put it this way: It's probably easier for you to get work in London, than it's for foreigners to get work in NYC/Chicago/etc.
When you say foreigners do you mean people outside the EU or outside the UK? Because isn't it pretty easy for a French citizen to work in London because of the EU? Like would it be as easy for a Chinese citizen to work in London as a French citizen?
Judging from fresh hires alone, it's pretty difficult to get in without EU citizenship. From my MSc almost all the Russians, Americans, Asians etc. have head home without any luck. Most of the Italians, French, Germans etc. are working. None of the firms want to deal with visas when hiring juniors.
Transferring from US to London as an Analyst (Originally Posted: 02/24/2015)
I'll be starting as an analyst in June, and looking forward I would really like to spend at least one of my 2-3 years abroad.
How easy is it to transfer within a BB/MM IB from the US to London? Is this something that is readily available to all analysts that are interested, or is it offered only as positions/needs arise internally? Anyone have any experience doing this?
It's easier for a Pakistani to work IB in London, than an American. Fact. Get a work Visa and hustle really hard. Good Luck!
BBs usually have a formal internal rotation program in place. As long as you're one of the better analysts, they'll see no problem in sponsoring you to go oversees.
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