I am from a T15 university and I have missed out on the IB summer internship bus as an MBA 1 but I am keen on pursuing internships since IB recruitment pipeline is typically through internships or even a pivot into a new bank for a FT role is only possible if you have interned at another bank or have worked in a similar capacity in the past. Will it be realistic for me to pursue IB summer internships in my graduation year?
I couldn't intern since I am an international and a PTMBA student which makes me legally ineligible to pursue internships. FYI PTMBAs are given full opportunity to recruit for internships and they get full access to recruitment. Many from my cohort received IB opportunities however, they were US citizens versus me being an international on a work and not a student visa.
Why do you think banks do not give internships to MBA 2s especially when I have a solid case for myself? Again the university career office does not allow me to pursue internships as an MBA 2 on campus despite my unique situation however, do you think I should be reaching out to smaller boutique banks and middle market banks as a part of my networking efforts for internships as an MBA2? How would they receive my case?
Looking for some help and advice on how to navigate around my situation.
Graduation date is usually a hard requirement. If you want to recruit for summer 25, I suggest exploring the option to graduate in December 25, which falls within the graduation period for some banks.
Or you can just recruit for 2025 full time opportunities.
What do you think about the smaller boutique banks that have less than 100-200 employees? Do you think those could be a good bet for me?
You’ve used up your MBA time to break into IB. Your MBA was your last chance to try and break into IB. Unless you can delay graduation it’ll be very hard to get in. No the CFA won’t help. I’d apply for full time jobs and pivot to other things. Those who want to do IB prior to doing their MBA have their shit together the moment they step foot on campus.
Well I had my shit together but it was just that with my scenario, the usual process of recruiting was never going to be possible given that I had visa restrictions.
You have OPT what visa restrictions? Are you from Canada or Mexico?
As others have mentioned, graduation deadlines are a hard deadline. You've kind of shot yourself in the foot with PT MBA, especially if PT makes you ineligible for visas. FT MBAs always have some internationals folks land IB, it's harder but doable. There are really very limited paths into IB if you aren't walking in day 1 prepared to recruit, since the internship is the most important thing you can land with your MBA.
I would consult with your advisor or career center on what other options you have - not familiar with the exact timelines for consulting, strategy, corp finance etc but things like that. It likely will not be IB, but other jobs recruit a bit later.
You can try and network with smaller boutique banks (think local shops with 10-20 people), but they'll likely want you to do some sort of off-cycle internship before offering you a FT job.
From what he said, he’s nearing getting a green card on his H1B visa so if he left to do the full-time MBA he wouldn’t have that option. Most internationals would take a green card in the US over a career in IB because the earning potential in the US has always gonna be greater than back home no matter the job.
Although it’s weird because he was applying to full-time schools ..
Yeah totally agree with staying for the green card... but I would have waited on MBA until after green card, or only done PT if I got into UChicago.
Hindsight is 20/20 but it's just a tough situation to be in now, MBA is an expensive trigger to pull if you don't get a high paying job out of it
Yes recruiting for other options on the side as well
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