Q&A: International Student Full-Time IB Recruiting - Class of 2020
Covid is obviously making everything shit and Trump is giving companies heart attacks left and right about sponsoring students. In light of all this, and to give back to the WSO community, I want to try help out internationals trying to recruit for IB this year, particular for FT.
Not going to disclose too much about myself, but a couple of points to kick off questions that I think people might want to ask:
1) Sponsorship: plenty of firms don't sponsor now and you're banging your head against the door applying to them. The single most helpful resource I used was https://www.h1bdata.info/ - search up a firm and see if they've sponsored anyone in recent years. Here you can see how some firms say they don't sponsor but occassionally do, or some firms who say they sponsor but don't (e.g. try PWP - no one since 2016 last time I checked). This isn't 100% accurate, e.g. some firm policies may have only recently changed, but is a damn good place to start. I'd triangulate b/w this and word of mouth - the latter can be more up-to-date but is also possibly false marketing.
2) Mentality and networking: as northkoreanbanker frequently mentions, stop being afraid about being international. You are first and foremost a student and a fucking normal human being. Just open up and that gives a better chance to connect during networking. Don't trap yourself into acting FOB just because people tell you you're FOB. You can even turn your home country into something to talk about (if you're sure they sponsor and that the person across the table expresses interest in it)
3) Is it worth trying? One caveat to the above idealistic mentality is that you will still run into cases like: the chat is going well, the guy nonchalantly asks "oh btw you don't need sponsorship right?" "uh...actually" "oh...I'm sorry man". It happens. The tide is still overwhelmingly against you. The point is there is risk, i.e. you might be better off spending your recruiting efforts elsewhere, and you should be aware of that before jumping in. Think about it first - maybe the right answer isn't to dedicate 110% of your time to IB recruiting with a miniscule chance of getting in. Maybe you can't afford to be jobless after graduation. No shame in that. What's your long term plan? To go home in a few years? Then tbh you might have a smoother life going back PwC in your home country compared to starting at a no-name boutique in NY. But in the end, if you do decide to accept this risk, see point 2 - don't look back.
Feel free to add any other questions and I'll try to get around to answering.
How flexible are firms with their sponsorship policy? Would a company sponsor you if you are an incredible candidate although their official stance is no sponsorship?
That depends on company. I'd say most generally have a stance on whether they'd be willing to make exceptions. In general the smaller the firm the more flexible they are, but also the more likely that their initial stance is a no - so it's up to you to convince them. https://www.h1bdata.info/ is still a good tool. If it's a large firm and you see 1-2 sponsors a year that's a good indicator that they sponsor on a case-by-case basis. But note that some 1-off cases may be laterals and not new grads.
Are you gonna recruit for PE? Is it possible without H1-B? If my long term goal is PE should I just try to pursue it in my own country since I have heard you cannot recruit on OPT
Dude you're a 3rd year analyst I really don't think I have more insights than you haha. But truthfully I am not so much interested in PE so I have not looked into PE recruiting with OPT, sorry.
Could you please explain the PE process with H1-B and OPT. Will it be your current bank that will work the process or the PE firm. Sorry if this questions seem dumb but I’m new to this. Thanks.
As above, this is something I haven't really looked into and don't plan to do. But logistically you spend ~2 years in banking and hopefully get your H1-B, which means your next employer wouldn't have to worry about it (I have never heard of a bank that recruits you on OPT but does not sponsor your OPT). If you have 3 years OPT and leave your bank before that time is up without an H1-B then yea your next employer is taking a massive risk to employ you.
Great post
Ipsa non architecto rem perspiciatis voluptatem odit sed consectetur. Voluptatem accusamus doloremque quo exercitationem. Debitis unde facere sint deserunt harum. Consequuntur accusantium in neque eos.
Cumque non explicabo voluptates ad cupiditate. Labore a minus earum dolores nulla. Aut ducimus laborum dolores ad quisquam.
Iste earum ipsum accusantium laboriosam cumque eius hic. Dolor expedita rerum saepe commodi.
Rem ullam quam et est accusantium consequatur. Tempore consectetur quibusdam dolore et error. Numquam porro et fugiat quam expedita facere. Alias expedita suscipit at beatae. Velit velit culpa aut. Architecto vel inventore qui fuga magni magni. Ducimus natus modi magnam magni laboriosam voluptas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...