Non-US IB Recruiting: Cakewalk or Lower Expectations?
Change my mind. In the U.S. it seems like you have to become interested in banking during your freshman or sophomore year of college. If you don't have the necessary sequence of internships, you're toast. That's not to say people who are late in the game won't break in to the industry. I feel as though undergraduate students in countries like Brazil, Germany, United Kingdom, etc. have it much easier.
I went to an international boarding school (6-12) and most of my colleagues went to university in Europe and South America. Most had hopes of pursuing investment banking. I talked with plenty of them who said at their schools, you apply for IB "traineeships" a month before you graduate, you do like one fit interview, and then start a month later. No technicals or tough phone screens.
As an American university student, I was like WTF is a trainee position. I heard even more stories from my old boarding school pals and friends about how easy the process was to securing these trainee programs. What do you all think about recruiting in non-US countries?
I do agree that the United States has a huge market for financial services, so I understand there are many hoops for students to jump through networking and interview wise. Most of the international investment banks offer these traineeships and expect nothing from you besides a strong interest in the field, which in my opinion, should be the case. On the other hand, making sure the candidate knows technicals can weed out those who aren't genuinely interested. I went on a tangent here but essentially I want to hear your opinions on non-US IB recruiting and if you think it is genuinely easier to be included. The US system feels so broken to me.