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How difficult is it for International undergraduate students (Non-EU) from target Unis to break into IB? How to improve once chances?
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EU or non-EU is not important anymore. All non UK candidates now need visa sponsorship.
1) Network your ass off, use LinkedIn to see if there are other people with similar nationality/background/uni and reach out
2) Prepare your ass off, read the ft (hour a week should already provide benefits, make some notes on deals you find interesting), read Rosenbaum and Pearl - Investment banking for valuation stuff
3) Get a decent gpa and do extracurriculars (don’t bullshit by saying you are chief executive officer of some student society)
4) Apply to diversity programs if you qualify for those. Also, spring programs are an easier way in.
Good luck!
Who Upvoted this shitty advice? I'm sorry but you realize this is for the UK right?
Networking your ass off will NOT help you getting in BB/EB unless you get an MD's referral. The only time networking helps is for PE/HF recruiting which has very limited spots.
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This is such a bs comment, has it been a long time since you got laid or something? Worked for me and plenty of people I know (tier 3 target uni). An associate referred me, which got me the interview (tier 2 BB, UK). This year, one of my mentees got workshops (through networking with juniors) at a couple of banks (both tier 1,2,3) and converted some of those into interviews.
To clarify, networking to get into workshops/in-house days is important with the more random recruiting process atm. And remember, only Sith deal in absolutes ;)
Obviously networking isn't as important as it is in the US but from personal experience I can say that it can certainly help you get interviews
Agree this is a bad comment.
No need to network, don’t kill yourself with news, and no need to read valuation books lol. Just breaking into WS is fine
Honestly, not as difficult as you think. Almost every bank sponsors visas (BB/EB/MM) - don't stress about it. Just prepare as you ordinarily would and reach out to alumni in your target banks.
Posting as knowledge from inside a BB. Agreeing with previous info. Networking is very limited in how it can help. Visas, make hiring much more difficult as a candidate. Example: when a VP chooses to hire an analyst and they have two candidates one local and one international. To hire the one that requires a visa, typically the VP will have to not only get manager approval, but they may even have to escalate to a LOB direct. So most of the time, unless your something incredible, local candidates will likely be picked. There is a lot of visa friction in the decision making process. If you some how have networking with a LOB Direct who can reach out to a manager, that probably does help. UK is a lot more rigid with its process though.
I wouldn’t worry about visas. Firms are still figuring out but you can’t let that be a criteria. 80% of the applicant pool at least is from abroad, and a good 50% didnt study in the U.K. you can’t go from recruiting at HEC to recruiting at tier 2 UK unis
How difficult is it to move to the buy-side? I'm fluent in French and also know a little bit of Spanish
Somewhat agreed. What i have noticed from what ive seen in the process however is hires requiring visas will LIKELY require additional approval from a higher manager. Not guaranteeing thats every bank or LOB, but I have seen applicants rejected because the VP doesn't like raising approvals just to hire a candidate. I am sure it can be done, but point of sharing information, is people should network to understand the process and well for wherever they apply to.
After Brexit, you're on a par with the EU citizens who don't have settlement status (which is a lot of people). If you speak a European language, you'll be equally valued. Just network, reach out to headhunters since they're the ones who run the initial screenings, prepare for technical and behavioral interviews, be personable, and apply for internships rather than full-time positions and you're set ;)
Headhunters are not involved for analyst roles in IB. No need to network, that’s not gonna change the visa issue. It’s for the U.K. not US
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