Oxford MSc financial economics recruiting for non-eu resident
Hi all,
It’s tough to research on this topic and was hoping someone here can help.
I have an offer for MSc financial Economics at Oxford. I’m a Canadian Citizen and hope to land a role in Investment Banking or PE after graduation. I am shooting for IB and PE firms regardless of location, UK, Canada, US, etc. but have some worries. I heard some tough things about visa sponsorships, companies aversion to hiring non-eu residents, and other worries. So if I do go to Oxford and recruit for UK and struggle to land in IB with the non-eu resident situation, I’d also struggle to land roles back in North America from all the way in Oxford instead of a target program in the US.
One strategy I thought of is to try to land a job at a Canadian firm based in the UK, then I can transfer back to Canada if something fails, but I’m not sure how realistic this is.
On a side note, I already have 1.5 years of full time experience, would this help? Or decrease my odds?
Can someone explain what I should expect as a Canadian recruiting for IB in the UK while studying the Oxford MFE program?
Thanks
Hey there,
First off, congrats on the offer from Oxford! That's no small feat. Now, let's dive into your questions.
The MSc Financial Economics at Oxford is a highly respected program and it does open doors to Investment Banking and PE roles. However, you're right that visa sponsorships can be a bit of a hurdle for non-EU residents. That being said, it's not impossible. Many firms are open to hiring international students, especially from such prestigious programs.
Your strategy of aiming for a Canadian firm based in the UK is a smart one. It's definitely a realistic approach and could provide a safety net if things don't go as planned.
As for your 1.5 years of full-time experience, it's generally seen as a plus. It shows that you have some practical experience in the field and aren't just coming straight from academia.
In terms of what to expect, recruiting for IB in the UK is a competitive process, but your program at Oxford will certainly give you a leg up. You'll likely have to go through several rounds of interviews and assessments, but the career services at Oxford should be able to provide you with plenty of support and guidance.
Remember, the most important thing is to network, network, network! Get to know your professors, attend industry events, and reach out to alumni. These connections can be invaluable when it comes to landing a job.
Best of luck with your decision and future career!
Sources: https://www.wallstreetoasis.com/forum/investment-banking/investment-banking-in-the-uk-an-overview?customgpt=1, https://www.wallstreetoasis.com/forum/school/uk-master-in-finance-advice?customgpt=1, Do banks in UK primarily recruit undergrads or master student?
1. VISA - You get 2yrs of graduate visa, plus you could also use the 2yr working holiday visa after if needed (if in between firms w/o sponsorship).
2. Recruiting. What is your previous work experience? You want to be very sure you can recruit well into good IB placements (disregard PE because of the low %). Your 1.5yrs helps if its relevant experience?
One thing to keep in mind. UK 1yr masters recruit for summer internships following their course year. So you do your summer internship, and hope for a return offer F/T the next summer. If you don't get a return offer, you're back recruiting in a relatively smaller F/T pool, or at least off-cycles which is smaller than summer.
If you look at the employment/class reports for Oxford MFE / LBS MFA, the majority of students are not from the UK. This doesn't mean you have a golden ticket, because you are still recruiting against every undergrad/masters UK student looking to go into the same field (is your experience relevant!).
My experience is semi relevant. during school, I did an unpaid internship at PE a search fund (not included in the 1.5 years). After I graduated, I was a financial services associate at a retail bank for 6 months. Then for 12 months, I was a treasury analyst at a mid sized Canadian Bank, working in the team that oversaw the banks $4 billion cad fixed income portfolio, I did fixed income and derivatives trading to manage the portfolio. Are these experiences relevant? Also, I would be 24 by the time I start the program at Oxford next fall, which I believe is 2 years above the median age people start the MFE program at 22, as most of my peers didn’t work full time before. And you are saying this would be a plus in recruiting? And by any chance would I be able to compete for associate level?
So not sure if this is good? Also, I would have passed the CFA level 3 by the time I start, I passed l2 and am currently preparing for that. Even though CFA is more of an asset management thing, does that help for getting a role in IB?
Last question, I probably will ultimately live in Canada as my family is closer. After a few years of experience is it realistic to get a good role in Canada or the US with my UK exp?
Thank you!
PE - good
fsr - bank teller
treasury analyst - ok
Look on linkedin, there's a lot of cracked european kids who have been doing ib internships every summer. You've got a start and it shows trajectory at least.
IIRC median age is 23 no? I read this on another guys post. Age is largely irrelevant in europe, people end up being analysts as late as 27. 0 possibility of associate.
not sure how much cfa helps, again its better than nothing.
if your goal is to be in canada, you should just go to school in canada??? if you can get into ox, rotman mfe applications will close in a month.
With no right to work in usa its a crapshoot, unless your transferring. Lots of the ontario pensions wouldn't mind a guy with IB experience from the UK tho.
Thanks again for the concise help!
Yes I see that a lot of those students in EU have IB internships, there's a LinkedIn group for the MFE program. I was applying to IB internships and analyst roles but the limited opportunities in Western Canada [I went to UBC Sauder (btw I got in UofT, Western, Queens, but made the mistake of staying in Vancouver] is very limited, so it wasn't due to a lack of effort I didn't land a job. Yep you are right, the median age is 23 last year (22 was from another year), so that would be closer to me being 24. Good to hear age is not a barrier. I was hoping I could compete with MBA students for associate roles but guess not. Perhapes if I get into IB my career progression to associate and VP may be faster with the MSc over just Bachelors?
I was preparing my Rotman MFin and UofT MSc Financial Economics app earlier, but since I got in Oxford, I decided to stop my UofT applications. The average salary and companies you get in from UofT isn't as promosing with 65k CAD average graduating salary from UofT MFE vs 65k gbp from Oxford MFE. Although I want to be in Canada in the long run, to be closer to family, my primary goal is to maximize my career opportunities in the earlier phase of my career, so I think going to Oxford might open some better opportunities for me.
Consequuntur sit non non quam. Aut et modi sunt in aliquam. Et dolor repellat vel exercitationem et. Quasi distinctio sit exercitationem. Natus optio velit consectetur odit temporibus commodi. Est rerum modi et est corporis optio sequi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...