I am at a Canadian target school working at a solid Canadian VC this summer. I know I am heavily disadvantaged by being Canadian and not working directly in IB this summer - should I still make the effort to network and try to recruit for US IB? Or should I not waste my time and focus solely on Canadian opportunities? Any advice would be appreciated, thanks.
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Breaking into US IB from a Canadian background is challenging but not impossible. Based on the most helpful WSO content, here’s what you need to know:
Networking is Key: Even if you're not in IB this summer, networking can bridge the gap. Make trips to the US if possible, leveraging any connections you have (friends, family, alumni, etc.). Show initiative by setting up coffee chats or informational interviews with bankers in the US. Use Canadian long weekends or vacations to make networking less awkward.
Highlight Your Profile: Emphasize the strengths of your VC experience. While it’s not IB, it still demonstrates relevant skills like financial analysis, deal evaluation, and market research. Tailor your story to show how these skills translate to IB.
Recruiting for US IB: It’s worth making the effort to recruit for US IB, but be prepared for logistical challenges. US banks prioritize candidates from target schools and those with IB experience, so you’ll need to stand out. Be ready for questions about your motivation for working in the US and your ability to work there (e.g., visa status).
Plan B – Canadian Opportunities: Simultaneously, keep Canadian IB opportunities on your radar. Breaking into a local BB or boutique can be a stepping stone. Some BBs have mobility programs that could allow you to transfer to US offices later.
Visa Considerations: If you’re targeting the US, familiarize yourself with visa options like the TN-1 visa under NAFTA. While there’s no specific IB classification, roles with economic valuation or financial analysis components might qualify.
In summary, don’t limit yourself to just Canadian opportunities. Make the effort to network and recruit for US IB while keeping Canadian IB as a backup plan. With persistence and a strategic approach, you can increase your chances of breaking into IB.
Sources: Student from Japan applying to IB in the US, Is UK IB experience worth anything in the US?, IBD Barriers to Entry For Canadians and How to Overcome Them, IBD Barriers to Entry For Canadians and How to Overcome Them, From US Military in Japan to IBD Tokyo
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