Is US IBD Recruiting from Canadian schools dieing?
As most Canadians know already, with changes to the TN visa, several US IB firms have stopped or reduced their hiring from Canadian schools. I go to a target Canadian school (if that even exists anymore, think Ivey/Queens) and I've noticed that less and less firms are doing OCR at all and are reducing their hires if the US firms do come.
Has anyone else noticed this? Is this going to be an ongoing trend where US firms may cease/dramatically reduce hires from Canadian schools, and is there any way to get around this if so?
If you're a Canadian trying to recruit for US firms, what has your experience been like?
My recruiting experience so far has been pretty tough so far with US firms and just wanted to hear others' thoughts and opinions on this.
..
dying*.
It’s 100% harder but there are still spots
Short answer: no.
It's only really harder if you're non-target/semi-target, as US firms have made broad-based hiring from Canada much more difficult - to the point of completely ignoring you.
However, target schools still get interviews and placement at top firms due to OCR.
Heard that many companies have stopped OCR for Canadian target schools.
Generally speaking - it's a lot harder, this is inarguable. Consider: the amount of quality candidates from Canada eligible/competitive for US entry is a constant #. Right? There's no reason to believe that it isn't at leasta similar amount of people YoY. But since the TN bubble (or at least, the speculation that Canadians are "dangerous", when realistically...nothing has really changed, can't think of 1 person in the last 2 years I know of that has run into issues for an EB at least; maybe for a more brand-name recognizable firm like GS, you'll have more problems, at least 1/2 the spots allocated to Canadians are gone. JPM has stopped Canadian hiring completely for example. RB-fucking-C has stopped taking Canadians. The Royal Bank of CANADA. Greenhill doesn't take Canadians, PWP doesn't, Rothschild doesn't. List goes on.
Of course, you'll have your Evercore-Ivey connections still etc, but that's more a function of tradition/a senior partner being an alumnus rather than being a top 0.1%blue chip candidate from Canada.
Tl;DR: If you're a non-target/semi-target, it's looking pretty dire. If your fucking dream is to make it into NY FT right off the bat, my suggestion would be to work at #1 RBC #2 BMO (RBC is by far the most respected name in US of the Big 5) for SA in Toronto in 2020, get a return offer, then leverage the hell out of it & do FT recruit accelerated for the 0-5 spots/BB, 0-3 spots/EB (all-in-all definitely sub-35 spots total across NYC) where you're also competing with top-tier candidates who are trying to lateral themselves from either a different US location (think Chicago, Houston) or a lower-tier bank into a higher-tier bank (ex. DB into GS).
If you're target, then you'll still have access to the same pipeline given tradition. And OCR = quota; however, exposure to Canada is viewed as an uncertainty, so there are less spots than there USED to be RESERVED; therefore it is also harder for targets
Why can’t you guys just get a j1 visa instead of the tn?
Canadians should just try for England or something
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