Sponsorship At Evercore For FT - Group-Dependent Or HR?
Hi folks,
I would be very grateful if anyone could tell me how the sponsorship process for a FT role works at Evercore.
Is it decided by the groups that want a candidate, is it location dependent, or is it HR that decides in bulk?
Recent MFin grad in Canada. Networked well with a Sr MD in a coverage group. But he did not know how the process works as he was recently hired from a top BB.
Tried reaching out to recent BComm alumni from my school at Evercore, but no one replied.
Lost an opportunity with another EB due to HR not wanting to sponsor, so wanted to know beforehand to prepare myself.
Thank you for your time and input.
Based on the most helpful WSO content, the sponsorship process for a full-time (FT) role at Evercore, like many investment banks, can be complex and may vary depending on several factors. While the context provided doesn't give specific details about Evercore's sponsorship process, here's a general breakdown of how it might work based on industry practices:
Group-Dependent Decisions: Often, the decision to sponsor a candidate can be influenced by the specific group within the bank that is interested in hiring the candidate. If a senior managing director (MD) or a team is particularly keen on bringing someone on board, they may advocate for that person's sponsorship.
HR Involvement: Human Resources (HR) typically has a significant role in the sponsorship process as well. They are usually responsible for the administrative aspects of sponsorship and ensuring that the company's policies and the legal requirements for sponsorship are met.
Location Dependency: Sponsorship can also be location-dependent. Different countries have different immigration laws and sponsorship requirements, which can affect a firm's ability to sponsor a candidate.
Since you've mentioned networking with a Senior MD who was recently hired from a top Bulge Bracket (BB) and not getting responses from alumni, it seems like you're on the right track by trying to gather information from people within the firm. It's unfortunate that you lost an opportunity with another elite boutique (EB) due to HR not wanting to sponsor, but each firm is different, and Evercore may have different policies.
Here is a question that you might be interested in and I can help you with: What are some effective strategies for networking within investment banks to learn more about their sponsorship policies?
Sources: Evercore SA 2021, Evercore Full-Time Interview, Evercore FT 2020, PJT Partners, Evercore Summer 2019 Recruiting Timeline ??, Evercore Full time 2019
I think they sponsor but you would still want to confirm with HR on that. Was wondering if this was NYC and in one of the bigger groups lol
Thanks. Yes, they do internationals who studied in the US and also TN for Canadian unis directly.
I just wanted to know if it was bulk or if it was the pull of the group.
And, yes it is in NY. Idk how big the group is though.
Is it m&a or rx? I thought those were done. Not too sure for other groups like PCA or ECM. Sponsorship should not be an issue from firm end, problem will come from uscis
You made a similar post inquiring about Lazard. Response here is similar. Evercore is pretty friendly towards internationals but you need opt to stand a chance. No investment bank is going to put effort to go through the h1b lottery to hire you, I’ve never seen it happen. If they hire internationals it’s only through OPT, or H1B laterals. Hate to break it to you but what you are trying to do is impossible even during good times let alone now. Why not try Canada? Most of these firms have Canadian offices.
See, people like you kept telling me this is impossible so I wasted months of my time in school trying to unsuccessfully network here.
Then, someone from my program (Indian no PR no anything) got a direct H1B at a hedge fund and started just this cycle.
No one replies to you (even for advice) in Canada if you're not a BComm with an internship or from Ivey. I met highly successful folks in HF/PE that said they were ignored and rejected from all Canadian banks too and that gatekeeping is heavy just recently. And yet all of them started in the most prestigious groups in the US during their time. And then it hit me why my efforts have been so fruitless.
The level of gatekeeping and appropriation of seats is crazy here.
I have great technical skills. I've been answering technical questions of A2As and PE associates from top shops on here and have formed good relationship with them as well. Have pitched to senior folks from HFs and AMs that were impressed with my pitch, my discussions and counter arguments, and my level of due diligence.
I am amazing with people, that is how I have impressed successful wealthy folks despite coming from a dirt poor background in a tiny country. The only mistake I did is being stupid enough to be born in a tiny-ass country in Asia so I don't qualify for any special seat or visa.
So, why would the bank not hire someone highly interested in banking vs an analyst who just wants to use it as a stepping stone to leave in 2 years. Or if I can get someone senior to pull for me, why not?
Even if any bank is not willing to sponsor immediately, I am getting my face out there, forming relationships, and proving my worth. Either they take me or come market recovery, they might want to take me even if I start out in AM or sth else in Canada.
The only way I don't 100% get it is by not trying at all. If there is even a 0.5% chance, I'm giving it my all.
Im sure you are a great candidate. Don’t beat yourself up too much. But with that said, above comment is right. Big name IBs are so institutionalized to a point where they will not sponsor H1B for a new grad without an OPT. Think about it. Why would they hire you when there are 100s of other students with similar resume as you who they don’t have to go through the potential risk of giving you an offer and never even seeing you on the desk?
Good luck with your job searches. I am sure you will do great, just keep at it.
Ps. HF recruiting/sponsorship is not at all synonymous with IBs because their hiring needs are smaller and a lot more merit based (eg if a PM really likes you, they might do unprecedented things to get past HR).
Thanks for your time and input. But I still need to try before letting it go, I'll regret not trying.
I got referrals at a couple BBs and EBs from global heads and one exec but those were stricter with sponsorsihp. I am learning who does what as I go.
Evercore and PJT have been historically friendlier to internationals so I am at least going to try to network with some seniors and see how it goes. At best I land something, at worst I get my face out there.
And on your last note, I can get some intros at HFs. I will explore that avenue as well. Thanks.
Edit: And to add, the risk of not knowing if you will hit the desk only lasts a month at most. Firms apply for your work in Feb/March and you know whether you get picked by end of March/April 1st.
So even if you are allowed to officially start work in October, you know months in advance if you get picked.
I appreciate your perseverance. Looks like you got one hell of a drive. But I fear your effort is exerted in the wrong place. I know it’s a shit show in Canada with so many international students applying for a few jobs but you might still have a better chance there given your visa status. They only go for kids with opt because they can start work regardless of whether they get picked by the h1b lottery and they can apply for it 3-4 times on a 3 year opt. Chances of getting through the lottery are around 20% these days. Why give you a spot when there’s plenty of kids in the US who can be guaranteed to start. I know you’ve been able to connect with seniors but they’re are normally clueless about how sponsorship works. And as someone mentioned above, these places are heavily corporatized and apply a general policy. If they make any exceptions it’ll be for some rainmaker lateral and not a recent grad. I know you are passionate but as you’ve noticed the conversation pretty much ends when you mention your visa status.
few additional thoughts,
Maybe ask all these people you are speaking to refer you to the Canadian branch? Or explicitly mention your immigration status and get these seniors to tell HR to sponsor you. I don’t think they’d go that for but this is the only impossible scenario that would get you a job here.
I also fear you’re aiming too high, given market conditions. We are all at the mercy of the market no matter how talented you are. The names you’ve floated are some of the best in finance. I don’t know how spread out your search is but make sure you’re applying across the board.
Being obsessed is not bad but don’t let this consume you. There are multiple ways to get into banking. Most MD’s came in after an MBA. If this doesn’t work out you can always work a couple year and apply for an MBA in the US.
Good luck, I don’t know who you are but I’m sure you’ll do just fine in the long run!
Evercore is very sponsorship friendly, and are especially open to Canadians due to their ivey pipeline
I'm not from Ivey that is why my networking efforts have been absolutely fruitless in Canada.
Keep hitting bro! Something will land.
Thanks for the encouragement, man.
Been very depressing recently.
Sort of similar boat. Can you PM me? I’d love to chat about this
You got a BB SA24 lined up. How is that a simialr boat as OP? Just outperform and get a return.
I’m recruiting FT again. The BB I’ll be interning at said I won’t get a return bc of my F1 status, so there’s that
pm me
TN yes, H1B no. If you are already working at the firm under the OPT visa, they will get you H1B until you have to go back to your country. But if you ask them to sponsor you for H1B without you already working there, they most likely won’t do it because of the risk of not getting selected. The lottery chance was 10-20% for last year and even after accounting for fraudulent applications, I don’t think it is going to be much higher.
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