Breaking into WallStreet from third world country (IB), General advice.
Hi, I am a third-world citizen (Mongolian if that matters) seeking insights and general advice on what to do next.
I recently graduated and started working at a finance company here in Mongolia. My life is okay, but it's still hard and sometimes depressing, as I've realized I might live like this my entire life unless I leave my country. I've been researching the finance industry, especially in the USA, and I'm looking for advice from anyone who had a similar experience.
From what I’ve seen, most Mongolians who works in IB (or any big finance company in the US for that matter) had significant advantages early in life. They were already US citizens, had wealthy oligarch parents, or attended expensive private schools here in Mongolia that produce many Ivy League alumni (these schools can cost up to $20,000, while the average Mongolian salary is $560).
In contrast, I grew up in a communist block with my grandparents and went to public school. I graduated with a finance degree from a top university here in Mongolia (though "top" doesn't mean much in terms of education quality). I was a good student, class leader, and participated in many extracurricular activities etc.
I’m unsure of what to do next. Obviously, I should focus on my current job and gain work experience while progressing in my career and eventually applying to an M7 MBA program in the US. But there are many uncertainties.
From what I understand, I need work experience that matters, but mergers and acquisitions are not really a thing here, and even big finance deals are only in the few million dollars. Mongolia was a communist country until 1991, so our finance sector isn’t very developed.
Getting into an M7 MBA program is another challenge, not to mention the tuition costs. Then, getting a job in the US involves obtaining an H1B visa, which is essentially a lottery. Additionally, being an Asian male, I don’t qualify for diversity.
There is also smaller issues, Such as not being native English speaker, cultural difference etc. But those are workable in my opinion.
Is there anyone here who has had a similar experience and can offer some advice?
Glory to Mongolia. Fyiw, your English is pretty solid as is, just keep working on it.
Go for a MSc in Finance in Europe with student loans (100% doable). Start somewhere in Europe, do some years of relevant experience, and then consider an US MBA or transfer internally within the company.
Quo est nihil sint blanditiis omnis eum. Nesciunt sed reiciendis est et dignissimos sed. Possimus dolorum qui et qui atque in error. Ut voluptas praesentium magnam odit. Et cupiditate voluptas tempora officia in rerum.
Reprehenderit officiis vel est aliquam sed. Facilis corrupti repudiandae aut. Maiores ab velit maiores voluptate error quia. Doloribus iusto aut mollitia. Omnis mollitia exercitationem dolorem et eligendi voluptatem voluptatem qui. Velit eaque voluptas error id.
Hic debitis dolorum est soluta iure quo. Perspiciatis earum quo possimus in et dolores error.
Explicabo maxime ea impedit in eum. Possimus ipsam porro atque dolorem cupiditate quam minima consectetur. Mollitia cupiditate qui dolorem cupiditate quibusdam. Sed soluta eum temporibus rerum soluta doloribus sequi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...