London Summer 2024 IB Recruiting Process
Can anyone help explain to me the Investment Banking recruiting process for London? Went through the 2024 NYC IB process for some firms, but want to explore options in London as a student from a top US University. Any info on timelines, networking as a US student, or anything else would be very helpful. What else should I be doing? Thank you.
Bump
I can’t comment much on the side of networking advice for US based college students, however I can touch more on the recruiting process for UK IB’s and what starts when.
First off, let me state that a position in the UK for SA requires that you have the right to work there. From completing SA’s, I haven’t come across any US college students working at banks in London for an internship. The majority are UK students or international students that are studying in the UK with a visa. I’m not 100% sure what the requirements are for these people, but assume it’s less than what yours would be. During your application, there will be a box that asks if you have the right to work in the UK, I can only imagine ticking the ‘no’ option may ding you, or put you to the bottom of the list. The competition is huge (just like the US) and banks will be looking for good candidates who are not a headache to onboard. I think this is your first hurdle.
After that, banks tend to open applications anywhere from now until end of October. There is usually a thread that pops up for which have opened (expect to see it soon). Networking is not advantageous in the UK (from my experience) as all of the hiring is done by HR, with only employees having a say towards the end when presented with a shortlist. Referrals are very rare, if not non-existent.
The best thing I’d say for you to do is look at what the requirements would be for you to obtain the right to work in the UK, and how much of a headache it would be. Then after that, if you believe it’s worth it, apply through the portals for each bank. The processes for both countries are similar, but it’s about getting through the first barrier of the right to work.
This is not correct re: visa. Plenty of people from continental schools from all over the globe that work in London. Visa will not be an issue for banks. My SA class was full of non-U.K. students.
Was there many Americans? I know that my bank wasn’t too keen on supporting visas for American students as they have the opportunity to work in America at the banks hub there. different for international students who may not have a bank hub in the country of living/study.
100% true all the banks prefer to have multiple languages in their teams for optimal coverage. Was told from an insider the fact that I was a native speaker in my language was a plus in the final selection.
not true regarding visa. I know multiple interns(BB/EB/MM) that got SA's sponsored.
Wow, I've not heard of that before. Were they US based and had come over just for the SA?
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