London to New York

I am a current junior from an ivy who will be interning at a top EB in London next summer. I'm an international student and while I applied to places in New York as well, it was quite frankly much harder than I thought to land something as an international. I have the stem extension completely untouched and also hold Canadian citizenship if that matters.

While I'm quite happy with the posting I got in London, if I were to try to get a full time job in New York, what would be my best strategy? If I manage to be the "top intern" in London, what would happen if I were to ask to transfer to New York?

 

Hi johndoe35678, hope I can help. Do any of these links cover what you're looking for:

  • London vs New York Money wise be more than happy to do a table and see the difference between NY and London if someone knows the ... $$ that could have been made in London. Is it hard for someone who studied in a top Uni in the UK to ... both cities after taxes. how about for teh long run, do VPs bring in more in London than in NY. I would ...
  • Quit an awesome job in London to make it in New York for me. I want to get out to the US, ideally New York. How bad are things in the US? Are there jobs? ... London. My life ambition all the way through uni was to get the hell out of the UK as soon as I graduate. ... emotion from a would-be financier, my heart is pulling me that way. New York asset management ...
  • Shifting from Trading in London to IBD in New York reasons, I also want to shift from London to New York. My CV is solid, good grades from one of the best ... BB banks in London. It's interesting work but I am 101% certain that where I want to end up is ... Hi, Some brief context to begin. I have just started a job working as a trader at one of the top ...
  • Recruit from London to New York Does anyone have a view on that?? Especially on how realistic it looks if Visa is required......... ...
  • Hong Kong vs New York- the war is on!! once great, but we are well, well past the industrial revolution. HK vs. NYC. New York Hong Kong to ... the global wealth reserves will shift to HK /China. USA, USA!! Any thoughts? London? Sorry you were ...
  • Step aside, New York. There's a new sheriff in town. PwC. From CNBC: [London] steals New York's top spot, according to the survey conducted by ... London is the new finance capital of world according to a recent report from the good folks at ... http://www.cnbc.com/id/101684583 In related news, London is also home to more billionaires than anywhere in the world. nyc london
  • New York dethrones London as Financial Capital As of March 2010, City of London based GFCI now ranks New York City as tied with London. London ... a 2008 Business Week article describing some of the methodology of the ranking: New York City London Hong ... London, but it is considered to be the gold-standard for Finacial Center rankings. Here is an excerpt from ...
  • London vs Zurich vs New York though to get in there as a European (is this right?) +London More vibrant than Zurich Got family there ... Hey Guys, how does the lifestyle of an I-banking analyst (BB) differentiate in NYC, London and ... Zurich? Would you say my comparison is accurate? +NYC Most vibrant Higher purchasing power that London ...
  • More suggestions...

No promises, but sometimes if we mention a user, they will share their wisdom: Atiq jckund slamdunk

Fingers crossed that one of those helps you.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

as far as i know, you can usually go on a rotation in your 3rd analyst year or your 3rd associate year. I think the latter is not really the norm.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

Depends on how long you've been in London and what the NYC office needs are. The process can be instant, or take months on end as you play it by ear. Most banks don't let you transfer offices if you haven't been with them for 18 months or more. I'd try to get to the US quickly if you plan on staying long-term for eventual citizenship. Some key Visa programs and the green-card lottery are at risk of being shut down.

 

I would assume it highly depends on the size of the fund. I have seen New York to London quite a few times, but have seen the reverse only a couple of times. Usually London to New York in either PE or HF involved either an MBA, or people going to New York before jumping to the buyside (less relevant here).

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

Hi johndoe35678, no, I never sleep and so I can respond to any lonely threads (like this one) at all hours of the night. Impressive, I know ;-)

More suggestions...

Fingers crossed that one of those helps you.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

It's funny. It doesn't matter where you are the world, you still want to be somewhere else. The grass isn't always greener. The fact that you want to leave the coolest and most happening place in the world and let's face it, the centre of the universe, makes me wonder

 

You are an idiot for

1) wanting to move to NY when you don't have a job that is waiting for you in NY

In order for you to get a work visa, you will need to have a job already. If you come without a work visa, you will need to find a job once you get there and have the employer sponsor you. The employer might not want to sponsor you and it will take you month to get any sort of work permit.

2) stay where you are and get the experience

3) Save money, network, than lateral in the US

No one would remember the Good Samaritan if he'd only had good intentions; he had money as well.
 
widerangeinput:
if you're doing LevFin, fin. sponsors or something within the lines of these- life would be easier. but generally- i cant see any reason why you cant. my 2cs.

I guess I will just have to wait and deal with recruiters as they come then... London is great but, definitely want to head back to NYC at some point.

 

It's at least as rigorous a process. Top students from top schools, fall on-campus recruitment frenzies, tons of interviews, the usual. However in London there are usually fewer places available, competition is against applicants from around the world due to London having much more favorable Visa laws than the US, and if you speak nothing but English (+broken spanish) you are already at a disadvantage.

 

I don't know what your conversion rates are for NYC, but the average for london is at least 150-200 applications per place, sometimes up to 1,000 (based on speaking to Merrill and Goldman HR staff). There is nothing wrong with applying to London teams as well, but you are sadly mistaken if you think it is an easy way into banking!

Languages could be a sticking point as well, because no matter how good your French is you will be competing against native French speakers who have perfect English.

 

Let's take a look at my analyst class shall we? Oxford, LSE, HEC (top business school in France), Polytechnic (top engineering school in Europe, and in my opinion the world), European business school (the German one). A couple of ex olympic athletes. A few ivy kids from the US, but they will all go work in Taiwan or Japan; NOT a single American actually will be working in London.

In London the competition is ridiculous, unless you networked your ass off at school to get some interviews... good luck...

So again, get a job in London first. To answer your concern OP, moving from London to NY should not be hard internally if you are a good employee. But why anybody would ever consider such a move is beyond my mind. Unless you are called to be some CEO or something I just would never ever consider it.


Remember, you will always be a salesman, no matter how fancy your title is. - My ex girlfriend

 

The market's picking up so laterals will start getting easier though I think you should still stick it out in London. I can't really speak from experience but I think you should wait for another 9 months then begin to indicate that you are interested in moving to NY. I mean the option to lateral will still be there in 9 months.

 

If you're happy at your current bank and are doing fine then just stick it out another 6months then start asking - usually it's after 2yrs at any place but it isn't set in stone - with the market hotting up it's possible your bank is or will be hiring in NY for which an inside candidate would be preferred for a whole host of reasons (assuming you aren't fussy about what group you go into since odds are it wouldn't be the same one). Another serious upside is that if you move with your firm they'll cover all your costs and the hassles of moving + pay for you when you get there (for a month usually while you find a place to move), many companies even give you an extra month's salary in moving expenses.

 

Would help if we knew the name of the boutique, or at least the figure for Assets under Management..

I don't think your prospects look great for making the switch to NYC to be honest. Are you CFA qualified? Maybe consider the MBA.

 

If you're at a top bank/group in London, then I think you've got a shot. Hiring someone qualified for an associate level role, almost any firm will sponsor so Visa won't be a problem and if you're working in a City IB role, I assume you speak fluent English, etc. The distance, networking stuff will be a barrier, but with modern technology, it can be overcome.

Can also try a transfer to NYC office of the bank if it's possible. Lot of banks have solid mobility if you're a top performer and have group flexibility to fill a gap on a team in NY with an unexpected opening.

 
Best Response

Vero laudantium consequatur fugit. Architecto libero sunt rerum porro ex nisi exercitationem sunt. Voluptatem molestias natus natus harum rerum est aut.

 

Adipisci hic tempora aut minus quis deserunt. Voluptas exercitationem iste et earum fugit quod debitis. Harum molestiae enim suscipit aut aut et reprehenderit saepe.

Aspernatur expedita minus tempore iste magni animi. Laborum exercitationem mollitia praesentium dolorum consequuntur enim dolores. Autem eos dicta totam sunt et consequuntur quisquam. Facere harum molestiae totam neque ea. Quas officiis et pariatur dolorum alias distinctio. Adipisci consequatur numquam est ad ipsa. Quia ea rerum aspernatur voluptatem vel reiciendis minima.

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
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
Jamoldo's picture
Jamoldo
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...”