Options For Lateralling From Canada to US?

Based on the most helpful WSO content, here are some insights and options for Canadian bankers looking to lateral to the U.S.:

1. Banks That Sponsor TN Visas:

   • Some banks are known to sponsor TN visas for Canadians. These include:
     • Goldman Sachs (GS) – Generally good at managing the process, though there have been cases of visa denials.
     • Evercore – Despite the mentioned fiasco, they have historically sponsored TN visas.
     • Moelis
     • Lazard
     • Barclays

2. Emphasize Your Value in Recruiting:

   • When lateralling, you need to heavily emphasize why you want to shift into the U.S. market. Highlight your experience with major deals and your understanding of U.S. market trends. This will help differentiate you from U.S.-based candidates.

3. Compensation and Cost of Living:

   • U.S. IB roles, especially in cities like NYC or SF, offer higher compensation compared to Canadian banks. However, the cost of living in these cities is significantly higher. Be prepared to manage your spending wisely to maximize savings.

4. Long-Term Goals:

   • If your goal is to transition to buy-side roles (PE, HF, AM), staying in the U.S. is advantageous due to better exit opportunities and access to global buyside roles. However, if you aim for a long-term career in banking, the Canadian IB landscape offers better work-life balance.

5. Challenges in the Current Market:

   • The lateral process has become trickier compared to previous years. It’s essential to stay updated on visa policies and focus your efforts on banks with a track record of successful sponsorships.

These steps should help you navigate the lateral process effectively.

Sources: Canada to NYC Lateral, IBD Barriers to Entry For Canadians and How to Overcome Them, US Banks With Satellite Offices in Canada