Australian Market via masters
So I'm based in EU right now, graduated from a target uni early last year and had internships in infra PE and infra lending afterwards. My experience has been between EU and London, mostly in MM/LMM.
I'm exploring relocating to Australia due to a current family & personal situation and I'm thinking about doing a masters in there to break in. I tried to send a few applications with my current profile but so far no progress ever was made. All ATS rejections. I talked to one recruiter who explained to me that in the Australian market, all competition comes from 5-6 universities. She explained that London (where she was based) is a massive contrast to Sydney since Australian students just don't hoard internships like Europeans do, so it might be easier to stand out with my internships. especially since renewables & infra verticals are big there. I also talked to a guy at DB IPU team, he said roughly the same thing. Most applicants they screen come from university listings. Summer and FT recruiting starts just 2-4 months before placement begins apparently because the cohorts are extremely predictable.
I have an offer to study at Macquarie uni's master in banking & finance. I don't mind paying for this programme to get a decent employment and a path to residence, since I don't have a family related path myself (for now, might change in a few years). I've done some research; plenty of Macquarie grads are in IB/PE/AM (pension funds are huge there) but only a handful of master grads. Could be a cash cow trap, but also class sizes are extremely small.
Is this feasible at all? Any advice?
Based on the most helpful WSO content, your situation and strategy to break into the Australian market through a master's program at Macquarie University is feasible, but it comes with some caveats and considerations:
Key Insights:
Australian Market Dynamics:
Macquarie University’s Reputation:
Your Competitive Edge:
Recruitment Timelines:
Recommendations:
Leverage Macquarie’s Network:
Target Infrastructure and Renewables:
Consider Alternative Pathways:
Prepare for Recruitment:
Explore Visa Options:
Be Strategic with Applications:
Final Thoughts:
Your plan to use a master’s program as a stepping stone into the Australian market is reasonable, especially given your personal and family situation. However, success will depend on how effectively you leverage the program’s resources, alumni network, and your existing experience. If you’re proactive and strategic, you can position yourself well for opportunities in Australia’s finance sector.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/qa-2nd-yr-ib-analyst-australia?customgpt=1, The future of Hong Kong high finance, Ask Natalie from Accepted about Business School Admissions, Can someone break down PE Associate exit opportunities?, Just how good is Dartmouth?
I did a year exchange in Sydney a couple of years back, here's what I can tell you. The MOST important thing for you to understand: the big 4 banks in AUS require citizenship or PR to be considered. These are the largest 4 shops (CommBank, Westpac, NAB, ANZ) meaning your options are a bit limited. The same is true for the accounting big 4 and advisory grad programmes.
Competition is real tough for people who go all in. It might look "easier" than London considering your school advantage but it's still very difficult. Banks like Jefferies and Moelis take final year students into their SA cohort, others don't. You might be cornered into 1 recruiting channel which is full-time, again competing against people with multiple years at big 4. There are however plenty of backdoors and boutique shops that will consider you, networking is FAR more fruitful in AUS than in London. PR is AUS & NZ is very straightforward especially if you're highly paid and from an EU country.
This would be a pretty bad move imo. I would argue it's more viable to aim for an advisory gig for a couple of years then transition into IB but most entry level jobs are geared towards onshore bcomm grads with citizenship or PR. Thousands are available to fill in these roles every year, recruiters only have to pick WAM demons. Unless you find an employer who's willing to sponsor you, your chances are extremely low. Master recruiting isn't much of a thing here
Source me, IB an 1 in AUS
agree w the rest - master recruiting is almost nonexistent in IB. i also find what you heard from the recruiter to be misleading. students out of go8 very much hoard internships leading up to their SA or full-time gig and this makes your competition much worse
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