How difficult is recruiting for internationals?
It’s common knowledge that internationals are limited to a smaller pool of firms (<10 firms that reliably sponsor) and that US citizens are preferred over them all else equal, but to what degree is recruiting more difficult?
Would an international recruiting from a target have a similar experience to a citizen applying from a semi? A non target?
Would appreciate any colour on this as I am deciding between going to the US, UK and Canada for undergrad.
Recruiting for internationals is significantly more challenging due to several factors. Based on the most helpful WSO content:
Smaller Pool of Firms: As you mentioned, fewer firms reliably sponsor visas, which mechanically reduces the number of opportunities available. This is a major disadvantage compared to US citizens who can apply broadly without visa concerns.
Preference for US Citizens: Firms often favor US citizens over equally qualified international candidates because hiring internationals involves additional costs (e.g., immigration lawyers for H-1B sponsorship) and risks (e.g., visa lottery uncertainty). This creates a bias, even if unspoken, in favor of domestic candidates.
Networking Challenges: International students often face logistical challenges in networking, especially if they are not physically close to the firms they are targeting. Proximity matters, and firms may question whether an international candidate can easily integrate into their team.
Comparison to US Citizens from Semi/Non-Targets:
Regional Considerations:
Ultimately, if your goal is to work in the US, attending a target school in the US gives you the best shot, but you’ll need to work harder to overcome the visa disadvantage. If cost or visa concerns are significant, Canada (e.g., Ivey or Queens) could be a strong alternative, especially for cross-border opportunities. For more insights, check out this thread: https://www.wallstreetoasis.com/forum/investment-banking/ibd-barriers-t…</a">IBD Barriers to Entry For Canadians and How to Overcome Them.
Sources: IBD Barriers to Entry For Canadians and How to Overcome Them, What WSO get's wrong about "target" vs. "non-target" - Employer View, IBD Barriers to Entry For Canadians and How to Overcome Them, My Advice for International Students in the US (F-1 Visa, OPT, CPT, H-1B), JPMorgan 2021 SA H1B Sponsorship
Don't go to Canada unless the best school you get into is Ivey
US will be probably be a bit harder than the UK, but London recruiting is a lot more random than nyc
Go to a target and hope for the best
Would you say recruiting from a US target without citizenship is harder than recruiting for Toronto IB from Ivey? Having citizenship in Canada definitely helps but I've also heard that Canadian IB is significantly more competitive given its a whole country trying to land spots in 1-2 cities compared to the US where you can apply to multiple cities.
Sorry, I don't know much about IB in Canada
Definitely not I don’t know what people are saying about Canada, but it’s terrible for IB. You’re better off taking the risk and going to a target in the US than coming to Canada. Just make sure your major is stem so you can get OPT extended. Worst case scenario if you can’t get H1B, they’ll transfer you to London and you can end up transferring back to the US on an L1 later if you’re really good.
canada not bad if you're willing to grind it out. spend your first few years in Canada, and then move to the US on the TN if you still want to go to the US. you save more as an analyst in Toronto than nyc/la/sf, i have done the math.
im in London, the rent is as high as NYC with 1/3rd or half (at best) the pay. at least my friends in Toronto pay half NYC rent to live a pretty decent life with loads of scenic weekend travel. things are cheap and the people are nice, you get all the UK benefits of healthcare and good education. if i had to do my undergrad again as an international student id probably go with u of t or ivey.
i went to a top target in London and most of my friends graduated without a job
Placements are random even from LSE/UCL/Imperial? I've seen a couple posts where people say that UK targets get you the first round then after that it doesn't help much. Not completely sure though.
i went to one of the schools you listed. graduated not so long ago (ignore title), most of my friends are still unemployed. i had a lot of friends from hs who went to ubc and u of t and most of them landed jobs. granted, ib in Canada is hard. but they landed some really solid consulting, strategy gigs (at mckinsey, mastercard, etc)
Terrible advice to come to Caanada. Ib barely hire internationals.
yes this is true. i did caveat this in my previous comment - Canada is a great option if you're considering roles beyond IB. have anecdotally seen people thriving in consulting, pensions, mm pe there. the work life balance is fantastic and pay is decent cost-adjusted. if you get a target school in the US, take it, but canada isn't the worst idea especially if you're looking to immigrate without visa worries. i would take Canada over the UK.
If I'm a Canadian citizen would it make things easier or is the market so small that even Canadians are finding it hard to recruit?
Before sharing my take, a general piece of advice: choosing a university primarily based on how well its location recruits into IB might not be the best approach. IB recruiting is highly unpredictable and influenced by many factors, with your university being just one of them. Additionally, you might start university and decide to pursue something entirely different. My suggestion is to prioritize the type of education system and environment that best suits you, rather than focusing solely on which region offers the best shot at breaking into IB.
That said, based on the three locations you mentioned, as an international student, the UK likely offers the best prospects. Canada has limited opportunities, and compensation tends to be lower. The US, while a strong IB market, presents visa challenges, as you noted. In the UK, most banks sponsor work visas, and the recruiting process is less reliant on networking. If you attend a reputable university and present yourself as a strong candidate, you’ll have a good shot even without extensive connections.
Once again, I encourage you to think carefully about where you want to spend the next 3 - 4 years of your life. Keep in mind that most people spend only 1 - 2 years in IB before transitioning to other opportunities or burning out. Your time at university will be about much more than career prospects, so would you rather go somewhere where you will only marginally advance your career, or somewhere based on where you will create the best memories and make lifelong friends
Pay is horrid in the U.K.
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