is it even worth it for international students anymore?
hey all, currently working in BB IBD as an international. back when I recruited things were much easier (most banks sponsoring) but I have noticed that firms have become less receptive to sponsoring for buyside recruiting in which it is virtually impossible to get a PE or HF gig without a H1 and the chances of getting a H1 are abysmally low.
Also, it seems like IBD recruiting is becoming virtually impossible with huge banks like JPM and Barclays putting an end to sponsoring. Is it really worth it to come to the US for finance anymore? I know friends at top targets who can't break in for SA 2021 cause it seems that all banks are against sponsoring. Could some current students/ analysts recruiting for IB/PE share their thoughts? Curious as I have friends deciding between which country to come to undergrad for.
While the atmosphere is more difficult than before, many restrictions are also temporary.
immigrant-visa ban: temporary and is not affecting students anyway, they are non-immigrants, at least for the first years while on F1 and then CPT/OPT/H1b (unless they marry someone or family sponsors). this ban will disappear after the pandemic.
non-immigrant ban: again, this is for the time being and I don't think this will last a lifetime. If an employer is willing to sponsor you, you will be fine at some point next year.
WSO makes is look like only the big employers are able to sponsor visas. This is not the case. Any employer can sponsor you (post-ban) if they are willing. Also, who says that the BBs are not going to sponsor for the next couple decades? Situations can and will change, maybe a student who starts in 2021 or 2022 will be sponsored in 2026/2027 with no problems?
At the end of the day studying abroad is more than just getting a visa - it is a conscious choice to be part of a great nation, learn about new cultures/languages and potentially bring this knowledge back home or stay longer. Also, there are many good countries out there.
nb: there is no shame in going back to your home nation either. nb2: People who are graduating imminently are clearly in a very difficult situation as most visas are blocked and they will most likely have to go home. But they may be able to come back in a few years from now.
There is no general answer to these type of questions.
If an Asian dude hates his home nation and has set a goal to live in the USA, then yes, it is worth it. Because the F1 visa is the only (realistic) possibility for this person to ever come to the US and have a chance. So for people who really want to live and work in the US - does it really matter which employer in what industry sponsors them? I would argue no.
If an intl. professional is somewhat happy in their home nation (where they are seen as native, from a middle/upper middle class or even wealthy background and not a "foreigner"), with opportunities for a great career - then no, why would that person want to go through all these difficulties and most likely waste a ton of money just to end up in a worse situation.
Emigration is not black and white, is has many facets that need to be accounted for and only each individual can do that. However, many have "dreams" that are unrealistic and these people will wake up one day and realize they made a huge mistake in going to a Western country. All that glitters is not gold.
One thing I always wondered... if a person is willing to put this much money at risk to be in the great West, why not go all-in and marry a US citizen? Most if not all problems Asians have would be solved with this step and most of them at this age are single/unwed anyway. There must be hundreds of Asian women in the US willing to marry them? Am I missing something?
Why risk all of this money, time and effort and then not do everything it takes to stay?
because people dont want to have their marriage decisions be dictated by messed up immigration policies?
also imagine trying to find a partner for the sole reason of immigration. how do you think the other person will feel when he or she figures out.
also you are overrating american asian women's interest in men from asia. they may have same skin color but their life experiences are very different. its not a straight direct match and is kinda stupid to assume that
Sit this one out chief you're talking out of your ass
Class of 2020 here. Even with an Ivy degree and an incoming FT role, I think my path was borderline worth it. The stress, anti-immigration policies, and tuition fees you face is getting ridiculous. The number of firms you can realistically recruit at is far lower than before and I expect this number to only decrease in coming years.
Even having made it to IB, I don't know how many years I can stay in the US for or how long I even want to stay for. The general US sentiment is anti-immigration and I'm not sure what Biden can do about it. Also, it's not that easy to recruit/lateral back to your home country, so you may end up shooting yourself in the foot there compared with going to a regional university. Overall, I'd say unless your friends are going to HYPWS and are absolutely loaded, coming to the US may very soon become not such a good idea.