Thinking about making the move across the pond. Currently 2 YOE from MBB consulting in London, just moved to a UMM (European) PE fund as an Associate doing tech investing. My partner is thinking about an MBA in the US starting in 2024/25, by which time I would have done 1.5-2.5y at the fund. I'd like to be there at the same time, and view my options as:
1a. Move into another investing role (in late venture / growth / private markets at one of the HFs)
1b. Move into a startup operating role (probably at a growth stage startup given current lack of network)
2. Do MBA
3. Take less exciting job
4. Pivot with my current fund to the US (attractive but seems unlikely)
Long-term want to be a founder, hopefully find success or pivot my way back into VC.
How likely is this? I have no US citizenship and have a passport that does not qualify for ESTA (i.e. not British). Do recruiters consider non-US candidates? Do firms sponsor visas? Am I an attractive enough candidate for options 1a / 1b or is the MBA a safer bet?
Appreciate any and all thoughts
Thoughts? I am hearing that it's basically impossible to move without having US citizenship / going via internal transfer / getting visa via education...
ESTA doesn't matter for the purposes of employment, fwiw.
Q is why would you not try the internal transfer route? Imho that has the highest chances of success for you. The truth is that others will find it hard to sponsor you for a visa, when there is so much existing local competition for positions. And an H1B is never guaranteed, although you do have higher odds of success with a master's degree from the US (there is usually a separate, smaller pool with higher odds that you can dip in). We're European HQed and have two US offices ourselves, with plenty of transfers happening in between them. Of course this varies by fund.
One way to go around the visa requirement is to marry your partner and make sure they get a J-1 instead of an F-1, which will give you the option of working as a spouse. The requirements of getting a J-1 will depend, but in my case, I had to prove that I had at least 50% external funding for the costs of my first year of school. A signed paper from a company attesting that they will do this will suffice. Leave it up to you to figure out whether that is something you can do.
Thanks for this - just shared ESTA details in case there are different alternatives for certain nationalities
An internal transfer is definitely an option that I'm aware of and will eventually pursue, just looking for alternatives as for various reasons this will be an unlikely option. We have a US presence but it's somewhat limited, have not seen transfers going that way.
Appreciate the insight on the J-1 route...definitely one that needs a lot of personal evaluation
You are allowed to interview for roles on ESTA, as long as you and the employer know that you will need sponsorship in the future. (it is a small detail, but it does have an impact. EU passport holders, just as an example, are allowed to fly to the US for any interview as they please. they can also attend training, meetings, and work related events as long as they don't work in the US permanently / reside in the US and for as long they don't get paid for work under ESTA).
Another option would be an "Entrepreneur" visa. Two basic conditions:
1. Open a $1M business (investment in US assets).
2. Employ 10 US citizens.
I've heard that $1M it's just an abstract number aimed to help people orientate. Some people also get it with a $0.5M investment.
If you're end goal is to become a founder then I see no better way to start your life in the US than through an entrepreneur visa.
Thanks for this! Currently looking into it, seems like the ‘easiest’ way of achieving this would be to found a startup and raise seed funding from an accredited investor. Not something I’m 100% sure I’ll be ready to do / can time it alongside the MBA cycle so will have to think this through, thanks again
I went down the E visa route, happy to share some info if needed.
Appreciate this! Will DM
How about moving from NYC -> London? Asking as an associate at a large cap NYC fund.
Definitely easier than US, but basically you still need a job that will sponsor a skilled worker visa (UMM/MF/ decent HF will all do this). This is what I’m currently on in the UK
Hey how long did it take to get the visa? I'm about to apply for it
Was it easy bureaucracy-wise? Did you need to show extra documentation apart from what's on the website?
Look up E-2 visa maybe
A lot more common in the hedge fund space than in PE. Have seen multiple people moving to multi-manager shops in the US from London. To put it simply, HFs are always open to good talent regardless of geography, not so much in PE.
Thanks for this insight - I’ve seen this but more to Single Manager shops actually (along the lines of Coatue etc who do both public + venture-style private).
When you suggest Multi-managers are you referring to the classic big funds (Citadel, Balyasny, Millenium) etc? If so are these typically HH-led opps or do you have to network in?
Yes, the Big 4 MM platforms, anecdotally DE Shaw too. For example, the Point72 academy programme is a good option, which they can then place you in a pod in the US.
Best to get in front of business development, headhunters are generally useless if you want to move continents.
Thanks - my understanding re P72 is that there are three options (academy for grads, academy for experienced hires or direct hire). Based on my experience level at recruiting (2y MBB, 1-2y tech PE / growth) what would you suggest I target? Does it make sense to focus on networking with BizDev regardless?
Personally I’m not sure how well suited I’d be to a MM role. Am sure I can pick up the more technical skills but think the investing strategy difference of focusing on high-quality businesses for the (relative) long-term rather than on a quarterly basis is non-trivial. Not sure if you have any thoughts on this as this (pure public markets investing) is a relatively new idea to me, have only really thought about SMs with private focus.
really appreciate the comments btw :)
While there is some useful information in this thread, I would like to add the following option:
https://www.lawfirm1.com/international-entrepreneur-parole/
International Entrepreneur Parole
You'd have to leap frog into this in lieu of the other options on your table, but I'd think you would be a good candidate.
Thanks for this! Definitely fits in somewhat with 1b if I joined an earlier stage startup.
The issue I’ve thought about when starting my own is the relative lack of uncertainty in how long I want to be / am allowed to be in the US. But useful context regardless thanks again
E1/2, and J/F visa are non-immigrant (so, there is a defined date when you are supposed to leave) and have typically no easy pathway to the green card.
The investment visa, H, L and spousal visa are either for permanent residency or dual intent.
Your safest bet should be internal transfer or the educational path.
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