No Return Offer from SA due to Immigration Status/International Student
So the title pretty much sums up my situation. Interned at a MM/Balance Sheet bank (think Jefferies, WF, HL), not on track to get a return offer due to being an international student (they weren’t clear if they sponsored during the recruiting process and only found out recently), so seems like I’m pretty screwed even though my performance and fit were great. Considering a less than desirable lateral market right now even with returns let alone no return offer, what should I do? I know this is hyper-specific and one that does not have a straightforward answer, my only goal right now is to keep my feet off the ground and stay in banking no matter the location. I was considering the HPI visa in the UK but many say that’s even more impossible than getting a full-time offer in the US. Any success stories? Insight? Literally anything will help me. I’m really desperate right now and just want to see at least a glimmer of hope. Appreciate all the input.
Background: target school (think Michigan, Northwestern, NYU, Berkeley), good GPA: 3.8.
Bump
Where are you from
I’m Indonesian
Did your internship end already? Did they allow you to use CPT for SA but then not allow you to use OPT for FT?
Yep, they did, which was pretty weird considering the whole point of a summer analyst program (to my understanding) is for the bank to want to convert you at the end.
I've seen this happen before, even at big banks (a bank with a one letter stock symbol is known to have done this many times...). A guy in my college finance club got screwed over like this and had to switch to a pretty low-tier bank after the summer. But he's still in the game and just recently moved up to a mid-tier bank.
Tough situation, I know, but here's what you can do right now: reach out to all the contacts you made during recruiting and start looking to switch as soon as the summer programs at other banks wrap up. These spots fill up fast, usually within 2-3 weeks after their internship programs end. Let people know you've received some solid reviews during your internship, but because of market conditions or whatever, your bank won't be extending offers to international folks like you. Find out when their summer program ends, then follow up with them on the next business day after those dates. Update your resume ASAP with everything you've worked on so far and get ready to send it out. Also, make sure to brush up on those interview technicals again and try to get a few folks from your current group to vouch for you in case the bank you're interviewing ask for references.
That's really sad. Do you hold a STEM degree eligible for opt-extension? I'll say use your school's handshake to filter those who will sponsor work visa and network hard into it. Keeping your status legal is the top priority now. Best of luck.
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