On-Cycle
I am an international senior student about to start full time this summer at a top IB BB. I unfortunately didn’t get selected for the h1b visa - how should I approach on cycle recruiting? Should I still participate? How should I approach conversations with headhunters? Any advice would be appreciated!
Navigating on-cycle recruiting as an international student who hasn't been selected for the H-1B visa can indeed be challenging, but it's not insurmountable. Here's how you can approach this situation:
Understand Your Visa Options: Before you start, make sure you're clear on your current visa status and what options are available to you. If you're on an F-1 visa and starting full-time, you might be eligible for Optional Practical Training (OPT), which allows you to work in the U.S. for up to 12 months, with a possible extension for STEM graduates. This can be a temporary solution while you figure out your next steps.
Communicate Clearly with Headhunters: When you're speaking with headhunters, be upfront about your visa situation. Explain that you're an international student who wasn't selected for the H-1B visa but are interested in opportunities that would either sponsor your visa in the future or are open to transferring you to offices in locations where you have work authorization. Transparency is key to finding opportunities that fit your situation.
Target Firms Known for Sponsorship: Based on the WSO Dataset, some firms are more open to sponsoring visas than others. While banks and financial institutions change their policies frequently, it's worth researching and targeting those known for their willingness to sponsor H-1B visas or those with a global presence that might offer opportunities in other countries if U.S. sponsorship isn't possible.
Leverage Your Network: Networking is crucial. Reach out to alumni, peers, or professionals who have been in a similar situation. They can offer advice, share their experiences, and possibly refer you to opportunities that are open to sponsoring international candidates.
Consider Alternative Locations: Be open to opportunities in other financial hubs such as London, Hong Kong, or Singapore, where your skills and experience are valued, and visa policies might be more favorable for international candidates.
Prepare for the Process: On-cycle recruiting is fast-paced and competitive. Ensure your technical skills, market knowledge, and interview techniques are sharp. Being an undeniably strong candidate can sometimes sway firms to go the extra mile in sponsoring your visa.
Stay Informed and Flexible: Visa policies and recruitment trends change. Stay informed about any changes in immigration laws or policies that might affect your status or opportunities in the U.S. and abroad.
Remember, while not being selected for the H-1B visa is a setback, it's not the end of your career in finance. Many have navigated this path successfully by being proactive, flexible, and open to international opportunities.
Sources: My Advice for International Students in the US (F-1 Visa, OPT, CPT, H-1B), https://www.wallstreetoasis.com/forum/investment-banking/what-happens-to-international-students?customgpt=1, My Advice for International Students in the US (F-1 Visa, OPT, CPT, H-1B), Q&A: International Student Full-Time IB Recruiting - Class of 2020, PE Recruiting for International Students
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Do it, there are more than a handful of funds that take international students and it's your best shot without a doubt. Doing it off-cycle involves more HH screening for visa etc. On-cycle is a battle for talent and funds want the best candidates, sponsorship comes second.
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