Immigrant Moving to Canada for IB RolesHI
Hi Guys, I have got a Permanent Resident Card to Canada and I am thinking of relocating to Toronto. I am currently working in Deloitte, India as a Model Validation Quant. I am looking to move into IB roles.
Do I need to get an MBA to do this ? I currently have a Masters in Financial Engineering, EPFL, Switzerland. Is it easy to break into IB now ? I have around 3 years of experience and I am 28 years old. Could you tell me what is the right path to move into IB ?
You can't break into an IB, even in Canada, without getting your MBA. Your ship has already sailed.
Why would a quant, with all the technical rigour you suffered through, want to go into IB? It makes no sense. Go do something technical, IB is a relationships game.
No chance. Raj - we are actually in the same boat, im waiting for me EE to get approaved and then move to Canada prob early next year. But ive also been accepted into some MBA programs so will use that as jumping board for network, jobs etc. my background is 6 yrs global IB in Hong Kong currently as VP. Still have to go thru MBA as Canada is just a fresh start for most people myself included. PM me if want to chat more. Good luck!
OP will have to go through a target MBA program in Canada for IB, but why do you need to do an MBA program? If you're at a global bank in Hong Kong as a VP of IB, wouldn't it be easier to just lateral to its Toronto office? Assuming by global IB you mean you're at a BB or EB in Hong Kong and they also have a satellite office in Toronto
that's correct BB. the issue is i'm now fairly specialized in terms of client coverage and expertise. it's practically impossible to simply just move laterally, even in the same firm, as the team based in canada would need to treat me effectively as a new hire as I have zero "canadian experience". the opportunity would also depend on if canadian office would have hiring needs. one benefit for sure is that they can easily pull reviews/feedbacks internally, but that really counts little.
the mba progarm i got into is a one-year, and they gave me substantial amount of scholarship, hence not a bad deal from a cost perspective.
Relocating to Canada (Originally Posted: 05/10/2016)
I am an international student (on the F-1 Visa doing the OPT) working at a BB, but unfortunately I did not get the H-1B Visa sponsorship. The bank has a similar position opening in Canada and I do not have any problem relocating there, as going back to my country is my last option. I am not sure what the Visa process is like in Canada, but I assume it is not as limited as in the US. I would really appreciate some feed-back from people who had the similar experience. What are my chances of getting a working permit in Canada? Would my company consider moving me there if I asked them for it?
How long have you been with current bank? Because if more than a year and half, you can do a company transfer Visa and that's really simple, just a matter of submitting the right paperwork. If you have been there less than a year and half, the process is more painful as the company has to do a labour market test (ie. prove that it tried to hire a Canadian for the position and failed). Cost a bit more money and takes longer, but there's no quota like the H1B so it almost always work.
I wrote on a similar tread before, but I know a few people how didn't succeed to get an H1B and in all cases, their bank was very helpful in facilitating a transfer to London (they were all europeans so the Visa was a non issue). The bank knew of your immigration status before hiring you and knew that they would be only a ~35% chance you'd get the Visa (based on recent lottery activity) so I am sure they will be willing to help you out.
Thanks! Unfortunately I have been working there only for about a year,
In any case, I don't think it's a particularly difficult process. I am assuming you are already speaking with HR, but I wouldn't hesitate to to bring it up.
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