AN2 at a solid group in Toronto.
What’s the process of moving down to the states? Did anyone here do it with/without a recruiter?
Looking to jump, ok with jumping as analyst not hard pressed to lateral to an associate role.
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Based on the most helpful WSO content, transitioning from Toronto to NYC involves a mix of networking, leveraging recruiters, and emphasizing your value in the U.S. market. Here's a breakdown:
Recruiters: Headhunters can be instrumental in this process. While specific names aren't mentioned in the context, it's crucial to identify which headhunters are active in the NYC market and have experience placing candidates from Canada. Reach out to them early, as they can guide you on visa requirements and market expectations.
Networking: If you're not solely relying on recruiters, networking becomes even more critical. Start connecting with professionals in NYC through LinkedIn, alumni networks, or industry events. Building relationships with MDs or senior professionals in NYC offices can also help, as highlighted in the WSO threads.
Timing: It's recommended to have at least 9-12 months of experience in your current role before making a move. This ensures you have enough credibility and deal experience to present a strong case to potential employers.
Visa Considerations: Moving to the U.S. will likely require sponsorship. Recruiters or firms with experience in cross-border placements can assist with this, but you should also familiarize yourself with visa options like the H-1B or TN visa (specific to Canadians).
Positioning Yourself: Whether you're open to jumping as an analyst or aiming for an associate role, you need to clearly articulate why you're making the move and how your experience in Toronto translates to the U.S. market. Highlighting deal experience, market knowledge, and adaptability is key.
Proactive Search: Beyond recruiters, actively search for lateral positions online (LinkedIn, Indeed, etc.) and cold email firms that may not publicly post openings. Some NYC offices are open to lateral hires but rely on direct outreach.
By combining these strategies, you can maximize your chances of successfully transitioning from Toronto to NYC.
Bump - libs won so I want out
If you wanted to leave Canada you would’ve done it before this election & not after. It takes a lot more planning and work than you think. P.S your “solid” group in Toronto wouldn’t even make a banks radar in NYC unless it’s what we all think it is. Not trying to be a debby downer but banks consider CDN banking business brokerage or just under LMM.
For those who monkey shit me, if you don’t believe me, I’ll just relay the facts.
The Canadian banks primarily focus on DCM and corporate lending with very little activity in M&A in the Americas (source: league tables) - if they do participate, it’s on a smaller scale. Truist had about the same M&A activity as CIBC in the americas and they’re considered LMM $100M-$300M in TEV.
In Canada the average deal size is between $50M - $150M. That may be considered middle market for Canada but that’s really below LMM in US standards.
Point is none of this is easy especially now. The problem isn’t your capability, it’s convincing some other asshole on the other side to want to hire you. Another issue - TN is overly glorified by Canadians, it doesn’t help you immigrate to the US you want H1B, and they do not sponsor for H1B at the analyst level period.
Even with TN, right now with the job market being a little rough down in the US, banks have gotten a lot pickier. If you really wanna go down there, you need to start thinking of a plan, and be open minded and utilize your coverage group to work in a sector that needs people. If your goal is to get out of Canada, you may need to take another job besides IB. IB is not the only way to make money in the US so that’s a good thing so open your mind to other roles.
Am at a global, not one of the canadian banks.
networking is the best approach here, reach out to alumni from your group that made the move, or from your school and then reach out to any other canadian that moved to the US as well, I managed to get people to respond without banking experience, you should be fine if you already work in IB. In another comment, you said you are at a global bank, so imo that would make the move easier. As a Canadian you need to network because your application is most likely to be rejected by the their system. imo recruiters aren't helpful in the US unless you already work in the US or don't need sponsorship.
OP is likely at JPM - team is tiny and political,asking for a transfer is likely a no-no. If you’re at CITI you can do it easily. Barclays I can’t comment.
To confirm, lateraling to another bank & not PE recruiting?
Did it without a recruiter, no special secret beyond the usual networking and outreach. Most BBs and EBs are good with TN Visas (some better than others though) so it just comes down to the standard evidence of good experience & a bit of luck with timing/hiring need etc.
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