Advice needed: Int student, starting Grad school in the States
Hi all,
I am looking for some advice on what the best options for me are for breaking into IB. I have no finance job experience, and I'll be going to grad school in a tier 2 target school this fall, doing a kind of quant heavy arts degree.
I know I have to start recruiting for a summer analyst internship, but as an int student, my options are only limited to banks that are willing to sponsor H1-B visas, which tend to be banks where recruiting is especially competitive.
I'm not sure if I should try to get other finance related internships first, and then try for a summer analyst internship in my 2nd year, or just go straight for summer analyst recruiting.
Would really appreciate any advice y'all would have.
If you have a passion for something...lets say this is banking, I truly believe that you don't need a finance internship. You should be able to translate this into the interview and they will be able to tell that you want to actually pursue IB. That being said, you still need to know the technicals and relevant information. So if you believe the internship will help you with this, I recommend going down that route.
I'm sure my passion for banking will shine through, since I've got a good story for why I want to do it. My undergrad was also in Finance, so I don't think I'll have problems with technical interviews after doing some preparation.
Problem is, what are the chances I'll get the BB/EB summer analyst internship offer as an int + with no finance internship. Recruiting can be really time-consuming, and if the odds of me getting it in my 1st year of grad school is low, I might as well use the time to be more involved in finance clubs, or get a different, but still relevant finance internship e.g., venture capital, private equity etc.
But, recruiting is also a time-sensitive thing. Since grad school is 2 years, I'll equate that to a junior, and senior year. Generally, it's harder to get an internship offer in your senior year, than in your junior year. So now the question becomes more of a risk vs reward of which is the best option for me.
Hey there, I’m a fellow intl student. Can’t really speak to a 2-year Master path, but I can share some of my own experience. I recruited for SA2023 without a front-office finance internship. My freshman internship was in my country of origin and was a back-office. As you can see, I was at a slight disadvantage as compared to my peers. I come from a non-target btw. What happened during this recruiting cycle is that I recruited for both SA2022 and SA2023. It was absolutely brutal, but it was necessary since putting on that “Incoming Front office Finance intern” for SA2022 helped me for SA2023. Ended up having my SA2022 secured in Feb and then SA2023 secured in April. I think this is the timeline you should think of, even though it sucks.
Thanks for the advice friend. Are any of the 2022SAs open till that late this year? Seems like most of them would close in Aug of 2021, so the recruiting cycles won't overlap. Which bank is this, if I may ask.
For SA2022, I intern at a hedge fund that has a pipeline at my school, so it isn’t a bank (it’s also not a big-name one). You’re correct, most banks finish SA2022 during early 2021. I think what’s the most important is that you should keep an open mind when making applications. Working at a smaller brand name and then transfer is always an option. Good luck!
1) Make sure you are on top of all legal/visa/sponsorship issues, at all times. No delays, no knowledge gaps.
2) Sign up for the USCIS visa bulletin email newsletter to get a good understanding how "the system" works.
The immigration system is a legal minefield, very complicated and operates with slow, erratic processes that may change frequently.
3) Backtrack successful finance visa journeys and explore options/derive lessons you can apply for your own case.
4) Conserve capital, don't waste anything for expenses you can live without. Learn to invest it wisely; you may need to add another F1 if you can't win the H1b lottery or end up unemployed.
5) Always, always keep a plan B in the back of your head. If H1b doesn't work out, maybe your long-term girlfriend will marry you. If H1b works out, but they won't sponsor your green card, find a different sponsor who does.
6) If somehow possible, make sure your degree qualifies as STEM to get the extension.
7) Keep your friends close, but keep family closer. They may be able to sponsor you or know someone who can.
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