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?

3 Comments
 

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.

 

Minima tempora doloremque ut exercitationem ipsam non perferendis. Non ut aut excepturi corporis neque quasi cupiditate. Consequatur ex omnis odit et aut maxime exercitationem.

Veritatis autem modi eligendi. Id quo doloremque doloribus alias quod numquam non. Quaerat sit rerum suscipit minus ipsum officia. Labore reiciendis modi eos dolore est.

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

Career Advancement Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

July 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.3%
  • BMO Capital Markets 12 97.7%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.7%
  • JPMorgan No 97.1%

Total Avg Compensation

July 2026 Investment Banking

  • Vice President (15) $434
  • Associates (46) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (79) $150
  • Intern/Summer Analyst (73) $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
kanon's picture
kanon
99.0
5
DrApeman's picture
DrApeman
98.9
6
GameTheory's picture
GameTheory
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Mimbs's picture
Mimbs
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...”