Looking for Advice - is it worth going from a Canadian pension fund to IB to get to the US?

Based on the most helpful WSO content, transitioning from a Canadian pension fund to IB as a pathway to the US can be a viable option, but it comes with significant trade-offs and challenges. Here are some key considerations:

1. Sponsorship Challenges:

   • Visa sponsorship for international candidates, including Canadians, is becoming increasingly difficult. Some banks are still open to sponsoring (e.g., GS, Evercore, Moelis, Lazard, Barclays), but the process is not guaranteed, and there are risks of visa denial.
   • Alternatively, an "intercompany transfer visa" could be an option if you work at a Canadian branch of a bank and transfer to the US, but this requires 1-2 years of experience at the bank, and opportunities for such transfers are rare.

2. IB vs. PE Pathway:

   • Moving to IB could provide a clearer path to the US, as many US-based IB firms are more accustomed to handling visa sponsorships compared to PE funds.
   • However, the lifestyle in IB is significantly more demanding compared to a pension fund or PE, with longer hours and higher stress levels. If you value work-life balance, this is an important factor to weigh.

3. PE Transition:

   • Waiting for a PE opportunity might align better with your current buyside experience, but as you mentioned, recruiting is tough, and PE firms are generally less likely to sponsor visas compared to IB.
   • If you can secure a PE role in Canada, it might still be possible to transition to the US later, but this route could take longer and is less certain.

4. Current Sentiment:

   • A recent WSO thread highlighted that some professionals who moved from Canadian pension funds to other roles (e.g., IB or PE) regretted the decision due to the loss of work-life balance and only a marginal increase in compensation. One user noted that the grass isn’t always greener, and the prestige-driven move didn’t outweigh the downsides.

Recommendation:

If your primary goal is to move to the US and secure sponsorship, transitioning to IB could be worth it, especially if you target firms known for sponsoring visas. However, be prepared for the lifestyle shift and the uncertainty of the sponsorship process. If you value work-life balance and are open to waiting, continuing to target PE funds might be a better fit, though it may take longer to achieve your goal.

Sources: MBA IB Associate - Sponsorship, IBD Barriers to Entry For Canadians and How to Overcome Them, IBD Barriers to Entry For Canadians and How to Overcome Them