How do people even land IB internships in the Middle East as international students
Hello all,
I hope that all is well.
Like the title suggests, I am trying to land an off-cycle internship starting January in the UAE (or Middle East) in general, but I feel like a lot of banks either advertise their internship programs are for (UAE nationals only/preferred) or they don't offer internships at all...
So I wanted to know if I can do something to just pass the screenings first... is networking going to change something for me ? Or should I aim for something in France and try my luck again once I am an Analyst ?
Thanks !
Landing an IB internship in the Middle East as an international student can indeed be challenging, but it's not impossible. Here's what you need to know based on the most helpful WSO content:
Networking is Key: Networking can absolutely make a difference. Reach out to alumni from your school who are working in the region or in banking. If your alumni network is limited, try cold-emailing bankers who might have an international background or connections to your home country. Many internationals are willing to help others navigate the process.
Target the Right Banks: While some banks in the UAE or Middle East may prioritize UAE nationals, others are open to hiring international talent, especially for off-cycle internships. Focus on BBs, EBs, and larger MMs that have a presence in the region. Smaller boutique firms may not have the resources or inclination to sponsor international candidates.
Tailor Your Applications: Ensure your application highlights any regional experience, language skills, or cultural knowledge that could make you a stronger candidate for the Middle East market. This can help you stand out in the screening process.
Consider Alternative Routes: If breaking into the Middle East market proves too difficult, gaining experience in another region, such as France, could be a strategic move. Working at a well-known bank or boutique in Europe can strengthen your profile and make you a more attractive candidate for a lateral move to the Middle East as an Analyst.
Persistence and Volume: Apply broadly and don't get discouraged by rejections. It's a numbers game, and persistence often pays off.
Leverage Off-Cycle Opportunities: Off-cycle internships are less structured and may have more flexibility in hiring international candidates. Keep an eye out for these opportunities and apply as soon as they open.
Remember, the process can be tough, especially with sponsorship and visa hurdles, but with strategic networking and persistence, you can improve your chances significantly. Good luck!
Sources: International Student - Chance of getting an IBD internship in London?, Working Abroad in Investment Banking, https://www.wallstreetoasis.com/forum/investment-banking/investment-banking-in-the-uk-an-overview?customgpt=1, Investment Banking Off-Cycle Internships London-Amsterdam-Madrid Fall 2020, https://www.wallstreetoasis.com/forum/investment-banking/what-happens-to-international-students?customgpt=1
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