My Story: USA 2027 SA Cycle as International Needing Visa

Context: I’m a sophomore at a non-target (think Colby/Baruch/Babson/Hamilton). I am also an international (Asian male) from an extremely low-income background, having fought tooth and claw to just secure the scholarship to study here. I triple major in math, physics and CS. Obviously, I did not pay for any of the paid coaching programs (heard many INTLs resort to paying up to $100k for this shit - disgusting). I ended up signing what I consider a top bank (EVR/GS/MOE) for SA 2027, and I hope my story will be useful for both the brothers still grinding and those recruiting next year (mostly for internationals). 

Banks and mentality: Generally, it seems like this cycle has been absolutely brutal for INTLs, with many banks turning their backs in light of the political landscape. To my knowledge, GS, MS, MOE, EVR, PJT, Santander, BofA, Barclays, and Rothschild are the only ones worth pursuing. But it will take a lot, a lot more work on your end for them to even consider you, as the spots are extremely limited for those needing visa sponsorship. Recruiting teams in pretty much every bank listed above have a direct instruction to NOT push internationals and only consider exceptional candidates. Therefore, my mentality going into the process was very simple: “I need a combination of some incredible luck (by far the most important), perfect GPA, very relevant experiences, and perfect likeability”. There is a direct path to maxing out every stat except the first one, and that is the tricky part.

Clubs: while not having any direct pipelines and/or guaranteeing anything, I figured they’d be a great way to demonstrate interest. I started off with that, and have immediately sensed a little bit of bias. Since you’re international, you are assumed by default to not place well - and when there’s a similar (or even slightly weaker) candidate from the US, the preference will be given to them. You should take it as a normal, logical, and fair thought process - and something that the banks will do too. The only solution is to be as polished and technically proficient as possible WITHOUT being hardo - that is, being also able to crack a joke, hit an interview off with a talk about sports, and smile giving off positive energy. Coffee chatting people prior to the rush process helps demonstrate that. I only realized that by my second semester, and was able to get into all the top clubs on my campus with a second attempt.

Networking: the same rules as above apply to networking with bankers. I started my networking by coffee chatting with a handful of seniors with full-time offers in my second semester of freshman year. It would be wise not to lean heavily on the international background during networking, and paint a picture that banking is a logical next step in your career. The “Why” part should be extremely clear and convincing. I’ve sent >3000 emails during my process, which converted into around 100 calls. Every email was tailored to the banker in one way or another. Coming into the call, I was overprepared - ready to discuss both the deals/macroeconomic environment/bank-specific questions, sports/restaurants in the college town and the details of the banker’s background. A good call is one that flows naturally through relevant follow-ups - mastering the art of follow-ups is the most important thing. My networking wasn’t spotless, however - I remember vividly when an MD told me “it is weird to ask that” after a question about what he wants to see in candidates during the interviews. That’s part of the process. 

Applications and interviews: When it came to the applications, I landed exactly 0 diversity/insight programs and exactly 0 first rounds - presumably because of ticking the “Need H1B” checkbox. The analysts/associates/VP who I’ve networked with - radio silence. After a month of ghost town-like experience, I got desperate enough to start emailing group heads/senior MDs/Heads of IB with my resume attached. One of them (not even from my school) was impressed by my triple major and kind enough to respond and pull me into the process, where I had the chance to demonstrate both the polished behaviorals and deep understanding of technicals. 

Closing thoughts: As others have mentioned, the 2027 SA cycle revealed the rise of nepotism in hiring, with senior bankers becoming more active in pushing their candidates. It seems like for me, it presented an opportunity - the senior sponsorship was a deciding factor in landing the only first round I got, and ultimately the only one I needed. The best advice I can give is to lock in that one relationship with a rainmaker as early as possible, since that can override both the visa blocks and standard recruiting processes.