International Student Employability in London vs Domestic Australian

Based on the most helpful WSO content, here's what you need to know:

Employability in London as an International Student:

1. Visa Challenges: It's true that visa sponsorship can be a hurdle for non-UK graduates. While the UK has made some improvements, such as the Graduate Route visa (allowing international students to stay for two years post-graduation to work), many banks still prefer candidates who don't require sponsorship due to the administrative burden and costs involved. However, Australians have an edge with the Youth Mobility Scheme, which simplifies the process and makes you more attractive to employers compared to other international candidates.

2. LSE Advantage: Studying at LSE or a similar top-tier UK university can significantly boost your chances. Banks in London highly value the LSE brand, and its alumni network is extensive in the finance sector. Networking opportunities, career fairs, and proximity to London-based firms can give you a leg up. However, you’ll still need to stand out with strong academics, internships, and networking efforts.

3. Competition: London banking roles are highly competitive, especially for international students. Many firms prioritize UK/EU candidates due to visa concerns, but top-performing international students from prestigious schools like LSE do secure roles, especially if they excel in networking and internships.

Employability in Australia:

1. Domestic Advantage: As a domestic student in Australia, you won’t face visa-related barriers, making you a more straightforward hire for Australian employers. UNSW and USYD are highly regarded in the finance industry, particularly in Sydney, which is a major financial hub.

2. Commerce vs. Commerce/Law: A combined Commerce/Law degree can be advantageous if you’re interested in roles that intersect with legal expertise, such as M&A or compliance. However, it adds two extra years, so consider whether the additional time and cost align with your career goals. A Commerce degree alone is sufficient for most finance roles.

Key Tradeoffs:

1. LSE (London):

   • Pros: Global brand recognition, access to London’s financial hub, strong alumni network.
   • Cons: Visa challenges, higher cost of living, and intense competition for roles.

2. UNSW/USYD (Sydney):

   • Pros: No visa issues, strong domestic reputation, easier access to Australian finance roles.
   • Cons: Limited exposure to global finance hubs compared to London.

Recommendation:

• If your ultimate goal is to work in London banking, attending LSE could be worth the visa challenges, especially with the Youth Mobility Scheme as an Australian. However, you’ll need to be proactive in networking, securing internships, and excelling academically to overcome the competition.
• If you’re open to building your career in Australia, studying at UNSW/USYD is a safer and more cost-effective option. A Commerce degree should suffice unless you have a specific interest in law-related finance roles.

Ultimately, weigh the financial and personal investment of studying abroad against your long-term career aspirations. If you’re determined to break into London banking, LSE offers unparalleled opportunities, but it requires a strategic approach to maximize your chances.

Sources: International Student - Chance of getting an IBD internship in London?, One day to decide: US or UK?, https://www.wallstreetoasis.com/forum/investment-banking/what-happens-to-international-students?customgpt=1