Breaking into IB in the USA as a Spanish graduate

Based on the most helpful WSO content, here are some insights and advice for breaking into Investment Banking (IB) in the USA with your background:

Chances of Breaking into IB in the USA

• Nationality and Visa Status: Your dual nationality (Spanish/American) and lack of visa issues are significant advantages. This removes a common barrier for many international candidates.
• Education: Graduating from a prestigious school in Spain (ICADE) and having an exchange experience at UNC Kenan-Flagler adds to your profile. However, the non-target nature of these schools in the US context might require you to put in extra effort in networking and proving your skills.
• Experience: Your summer internship at a reputable financial firm in Madrid and entrepreneurial experience with your SaaS startup are valuable. These experiences demonstrate your financial acumen and leadership skills, which are attractive to IB recruiters.

Steps to Enhance Your Candidacy

1. Networking:

   • Cold Emailing/Calling: Similar to the approach mentioned in the WSO threads, cold emailing and calling can be effective. Reach out to alumni from your schools, professionals in the industry, and attend networking events.
   • LinkedIn: Use LinkedIn to connect with professionals in the industry. Join relevant groups and participate in discussions.
   • Informational Interviews: Request informational interviews to learn more about the industry and make connections.

2. Internships:

   • Relevant Internships: Try to secure internships in finance-related fields, even if they are not directly in IB. This will help build your resume and provide relevant experience.
   • Boutique Firms: Consider applying to smaller boutique firms where the competition might be less intense compared to bulge bracket banks.

3. Skills Development:

   • Financial Modeling and Valuation: Enhance your technical skills by taking courses in financial modeling and valuation. This can be done through online platforms or certifications.
   • Certifications: Consider obtaining certifications such as CFA or other relevant finance certifications to bolster your resume.

Networking Strategies and Resources

• Alumni Networks: Leverage the alumni networks of ICADE and UNC Kenan-Flagler. Alumni are often willing to help fellow graduates.
• Professional Associations: Join professional associations related to finance and investment banking. Attend their events and participate in their activities.
• Online Forums: Participate in online forums like Wall Street Oasis to gain insights and advice from industry professionals.

Targeting Spanish Banks in the US

• Spanish Banks: Targeting Spanish banks like Santander and BBVA in the US is a viable strategy given your background. These banks might value your understanding of the Spanish market and your bilingual skills.
• Wider Net: While targeting Spanish banks is a good strategy, it is also advisable to cast a wider net. Apply to other banks and financial institutions to increase your chances of landing a role.

Additional Recommendations

• Persistence and Perseverance: Breaking into IB can be challenging, but persistence and perseverance are key. Keep applying, networking, and improving your skills.
• Tailored Applications: Tailor your applications to highlight your unique background and experiences. Emphasize your entrepreneurial experience and how it has prepared you for a career in IB.

By following these steps and leveraging your unique background, you can enhance your chances of breaking into Investment Banking in the USA. Good luck!

Sources: Chances of breaking into IB in Sydney without PR, Can international students in Australia break into IB?, International Students breaking into banking - ask and I'll try to help, Q&A: Broke into MM M&A from a non-traditional background and 2 years of networking and internships, Q&A: Broke into MM M&A from a non-traditional background and 2 years of networking and internships