What is up with EVC mass hiring international analysts ?
Was looking at some banks like Evercore (specifically them), but also Moelis and some others to check out their latest analyst classes and noticed that they are flooded with Canadian students who often seem to have next to nothing experience from random LMM M&A and buyside shops. Best thing is after checking Evercore has an office in Toronto too, can someone tell me if I'm missing something here ? Is there a reason why during the age of generative AI tools like Hebbia, Rogo etc we need to be looking anywhere else but American grads ? Especially with the current unemployment crisis, why are foreigns being brought in at the junior level ? There should be enough qualified candidates from the Ivies and UCs alone
We tend to be a lot more qualified than American candidates. IK you guys have highly inflated egos because of your “4.0” Ivy League education (half the grade requirement was attendance and you studied art history or some other non technical BS) but Canada has a more rigorous education system with finance degrees in undergrad, so this shouldn’t really be a surprise
If you can’t get a seat over an international that has to jump through archaic visa laws to get there, especially in this administration, skill issue lil bro, simple as that
SAAR
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Sorry to burst your bubble. H1Bs are much easier to control and abuse. Sweatshop firms can squeeze more out of them while paying them less because their alternative is leaving the country. Why hire American analysts who will last one year and exit to buy side when you can get an H1B that will live, breath, eat and sleep the job because they have no other choice. Has nothing to do with talent gaps.
Also, if your people are so much smarter and more qualified, why doesn’t your home country’s economy reflect that? Always have to flock to America. Sick and tired of people disrespecting Americans and our system as a whole.
Sorry to burst your bubble there buddy but hiring someone on an H1B and paying them less than what a non-H1B would be earning in an equivalent role is… illegal. Does it happen? sure - but in shitty B-tier consulting companies pulling immigrants in from India like Cognizant and Infosys. Not at investment banks.
It is undeniable that recruiting in finance (IB/PE/HF) is harder for immigrants, simply because its one more hurdle. Two equally matched candidates on paper and in interviews and one needs visa sponsorship and has uncertainty around their ability to work due to public policy, you tell me who will get the nod.
As a Canadian, he has a point
Fix your country instead of voting for clowns destroying your economy and then moving down here and then trying to make the US another liberal shithole.
Answer-feeding by their alum + they grind finance all year around because their schools are easy.
don't know why you got MS'd this is exactly it...strong alum + technical hardos = desirable candidates
Because they have insurmountable chip on their shoulders.
Internationals will always have more experience than american grads or undergrads who studied political science, did no relevant internships, and wonder why they don't make it through screenings. A european grad doing his master's degree in the USA after having done 4 years in the EU and 3 internships will always steal the sit of a random east coast american who doesn't have anything to bring to the table
finance is basically just moving symbols on a screen until someone pays you to stop. the hours are fake, the prestige is a lie, but the wire hit is real. 10/10 would grind again
ok
It is well known that Canadian analysts tip their MDs allot better than analysts that were born in the USA
I think it’s just tipping arb by those evercore MDs
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Work at one of those banks, this isn’t a mass conspiracy
In reality the traditionally non-target bankers care 10x as much during recruiting about this stuff than the target ones. They push way harder, do way more prep with their best candidates, etc.
I’ve tried over the years to get alums from my school (an ivy for reference) to care more but they just don’t. They presume the good candidates will just rise to the top naturally (which results in maybe 1-2 getting a spot each cycle).
I’ve kind of stopped caring because honestly the best students at Ivey, SMU, Binghamton, etc have all been very good so why fight it. But that’s the reason non-target schools have proliferated.
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bro said evc
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