Are companies willing to sponsor you for a work permit- if you get the offer?

Guys, provided you get an offer from a BB in the UK/US, would that company be willing to sponsor you so that you can get the work permit to intern? I know boutique banks in the US don't take the risk with internationals, but how are things in the UK?

My assumption is that if you are an overseas applicant and required a work permit to work in UK , and a BB did extend you an offer, chances are that they were aware of your circumstances but were still willing to sponsor you. Can I might be wrong? I havent ever heard of BB blundering like that unless the information that they provide on their websites are outdated.

 

In the US, there is typically a work/study visa that is applicable to an internship. I think they will sponsor you for an H1B for a full time job. If you are going to school outside the US and are not a US citizen/resident, it is harder.

I am a US citizen working for an NYC bank and have a lot of non-US citizen friends so this info is really second hand. Someone else with work experience on the forum can probably answer it better.

 
noway:
My gf is an international student, and I have quite a few friends that are non-US. IlliniProgrammer's information is correct. Assuming you go to school in the US, you can use CPT/OPT to work legally. In order to use CPT/OPT though, you do have to be enrolled in school.

If it's a FT job, they will sponsor you for a H1B.

You are incorrect on some points: In order to use CPT, you must be enrolled in school and do CPT as a practicum for credits. In order to do the OPT you don't have to be enrolled in school because is meant to help the student gain practical training in a field that is directly related to the student’s major area of study. You cannot do OPT and enroll in school at the same time, unless if the OPT is less than 20 hours per week.

Authorization to engage in optional practical training employment is automatically terminated when the student transfers to another school or begins study at another educational level.

Oui!oui!oui! Money Gives Power, Power Buys Positions
 
PiggyBank:
noway:
My gf is an international student, and I have quite a few friends that are non-US. IlliniProgrammer's information is correct. Assuming you go to school in the US, you can use CPT/OPT to work legally. In order to use CPT/OPT though, you do have to be enrolled in school.

If it's a FT job, they will sponsor you for a H1B.

You are incorrect on some points: In order to use CPT, you must be enrolled in school and do CPT as a practicum for credits. In order to do the OPT you don't have to be enrolled in school because is meant to help the student gain practical training in a field that is directly related to the student’s major area of study. You cannot do OPT and enroll in school at the same time, unless if the OPT is less than 20 hours per week.

Authorization to engage in optional practical training employment is automatically terminated when the student transfers to another school or begins study at another educational level.

You're right sorry about that I wasn't sure which came first CPT or OPT
 

If you go to school in the US, then it doesn't make a difference for an internship. Full-time opportunities are different, not all banks will sponsor you. I know for a fact that at least BarCap and Piper Jaffray require citizenship (in this economic environment, it's gotten a lot more difficult to convince the government that they weren't able to find no US citizen to fill the position). If you do have OPT and you apply through your university, then usually it's ok and the top BBs do still sponsor, but it happens less (2009 and 2010 were the first years where the H1B visa slots were not filled vs. being oversubscribed on the first day before). Some might ask you if you'd be interested in working at their London office (it's happened before). However, if you are applying from outside of the US and never really went to school in the US, it's nearly impossible to go a job offer right away. It is more feasible to join a company and then one or two years down the road move to their New York office.

London is a bit different, as it's usually easier to sponsor someone. It also costs less (in the US it's like 7,000 USD, which is one of the reasons boutique banks don't do it for first-year analysts). It's a bumpy road to London or NYC if you require, but London is somewhat easier. Don't give up though. Every once in a while they do hand out offers.

 
LAgrad09:
If you go to school in the US, then it doesn't make a difference for an internship. Full-time opportunities are different, not all banks will sponsor you. I know for a fact that at least BarCap and Piper Jaffray require citizenship (in this economic environment, it's gotten a lot more difficult to convince the government that they weren't able to find no US citizen to fill the position). If you do have OPT and you apply through your university, then usually it's ok and the top BBs do still sponsor, but it happens less (2009 and 2010 were the first years where the H1B visa slots were not filled vs. being oversubscribed on the first day before). Some might ask you if you'd be interested in working at their London office (it's happened before). However, if you are applying from outside of the US and never really went to school in the US, it's nearly impossible to go a job offer right away. It is more feasible to join a company and then one or two years down the road move to their New York office.

London is a bit different, as it's usually easier to sponsor someone. It also costs less (in the US it's like 7,000 USD, which is one of the reasons boutique banks don't do it for first-year analysts). It's a bumpy road to London or NYC if you require, but London is somewhat easier. Don't give up though. Every once in a while they do hand out offers.

What do you mean by " If you do have OPT and you apply through your university?"

Facts:! If you are in the U.S under a student visa (F1) you automatically have OPT.

If you have a student visa, you do not have to apply through your school for a job to get OPT.

You apply for a job anywhere , anyhow , and anytime before graduation. Once you get the job, you apply for the OPT papers and once you get it, you can start working after graduation. You have up to three months after graduation to get a job otherwise, your OPT will revoked since your student visa or program of study will be over.

Oui!oui!oui! Money Gives Power, Power Buys Positions
 
Best Response

I used to be a F1 student so i can tell you how things work for international students in the U.S.

If you are not an international student in the U.S, then you will have to obtain a job with a U.S based firm, and the employer will sponsor you for for a work visa ( H-1B visa).

While you are in school: At the end of their program of study, students who are attending university in the United States on a F1 visa can work in the U.S for a period of 12 months or 18 months ( Depending on their major). The 12 months period is called the Optional Practicum Training aka OPT.

During your senior year, you first have to get a job or internship, once you secure a job, you apply for OPT through the USCIS bureau. Once you complete your 12 months of OPT, you can no longer stay in the U.S unless

1) The employer decide to sponsor you for a work visa ( H-1B visa) that will allow you to continue working for them. 2) You reenroll in school for another degree and continue with the F1 visa status ( not the best choice if you need full time employment) 3) Leave the U.S

Be aware that some companies ( like Grant Thornton) do not like to hire international students for entry level positions because the application for H-1B visa is costly and time consuming. When you apply for internships, they sometimes ask if you will need visa sponsorship form the firm in the future.

Can you work in the U.S under your student visa before graduation? Yes. How does it work?

There is something called Curricular Practicum Training (CPT). CPT is when you do an internship as part of a degree requirement or as a summer training program before graduation. The CPT is deducted from your OPT periods. So if you do 6 months of CPT ( a semester) it will reduce your OPT period to 8 months. Every two months of CPT is counted as a month toward your OPT period.

Things are definitely hard and complicated for international students. I don't know anything about the U.K system.

Oui!oui!oui! Money Gives Power, Power Buys Positions
 

Not true about OPT/CPT. You can do your summer internship and your school would help you get a CPT. You would then need to submit your CPT forms every semester to continue working while at school. After school, you have 12 months to go. If you do not renew your CPT at the beginning of every semester (when you register for class), any additional time that you work would be deducted from your OPT.

 
Peter_27:
The long and short of it, is that getting a Job in the US as an international student is a huge pain in the ass. If you have the option of becoming a permanent resident, do so. Having been an international student I can attest to it, the work authorization issue singlehandedly ruined my entire recruiting cycle.

seems like you have've been through all this so i just wanna ask a question about my case. Because of high school credits, i can choose to graduate in aug 2014 (after taking summer classes) or Dec 2014 (after fall sem). So with H1B visa application timeline and banking hiring season, would you advise me to graduate in aug or Dec? Thanks a lot! Btw, I am doing an ER internship so it might help a little bit while applying for FT hopefully

 

Not as straightforward as people here are making it sound. Know many examples of BBs not sponsoring or willing to go through the process.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Who did you talk to at DB?

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”