Are companies willing to sponsor you for a work permit- if you get the offer?
Guys, provided you get an offer from a BB in the UK/US, would that company be willing to sponsor you so that you can get the work permit to intern? I know boutique banks in the US don't take the risk with internationals, but how are things in the UK?
My assumption is that if you are an overseas applicant and required a work permit to work in UK , and a BB did extend you an offer, chances are that they were aware of your circumstances but were still willing to sponsor you. Can I might be wrong? I havent ever heard of BB blundering like that unless the information that they provide on their websites are outdated.
In the US, there is typically a work/study visa that is applicable to an internship. I think they will sponsor you for an H1B for a full time job. If you are going to school outside the US and are not a US citizen/resident, it is harder.
I am a US citizen working for an NYC bank and have a lot of non-US citizen friends so this info is really second hand. Someone else with work experience on the forum can probably answer it better.
My gf is an international student, and I have quite a few friends that are non-US. IlliniProgrammer's information is correct. Assuming you go to school in the US, you can use CPT/OPT to work legally. In order to use CPT/OPT though, you do have to be enrolled in school.
If it's a FT job, they will sponsor you for a H1B.
You are incorrect on some points: In order to use CPT, you must be enrolled in school and do CPT as a practicum for credits. In order to do the OPT you don't have to be enrolled in school because is meant to help the student gain practical training in a field that is directly related to the student’s major area of study. You cannot do OPT and enroll in school at the same time, unless if the OPT is less than 20 hours per week.
Authorization to engage in optional practical training employment is automatically terminated when the student transfers to another school or begins study at another educational level.
If you go to school in the US, then it doesn't make a difference for an internship. Full-time opportunities are different, not all banks will sponsor you. I know for a fact that at least BarCap and Piper Jaffray require citizenship (in this economic environment, it's gotten a lot more difficult to convince the government that they weren't able to find no US citizen to fill the position). If you do have OPT and you apply through your university, then usually it's ok and the top BBs do still sponsor, but it happens less (2009 and 2010 were the first years where the H1B visa slots were not filled vs. being oversubscribed on the first day before). Some might ask you if you'd be interested in working at their London office (it's happened before). However, if you are applying from outside of the US and never really went to school in the US, it's nearly impossible to go a job offer right away. It is more feasible to join a company and then one or two years down the road move to their New York office.
London is a bit different, as it's usually easier to sponsor someone. It also costs less (in the US it's like 7,000 USD, which is one of the reasons boutique banks don't do it for first-year analysts). It's a bumpy road to London or NYC if you require, but London is somewhat easier. Don't give up though. Every once in a while they do hand out offers.
Facts:! If you are in the U.S under a student visa (F1) you automatically have OPT.
If you have a student visa, you do not have to apply through your school for a job to get OPT.
You apply for a job anywhere , anyhow , and anytime before graduation. Once you get the job, you apply for the OPT papers and once you get it, you can start working after graduation. You have up to three months after graduation to get a job otherwise, your OPT will revoked since your student visa or program of study will be over.
I used to be a F1 student so i can tell you how things work for international students in the U.S.
If you are not an international student in the U.S, then you will have to obtain a job with a U.S based firm, and the employer will sponsor you for for a work visa ( H-1B visa).
While you are in school: At the end of their program of study, students who are attending university in the United States on a F1 visa can work in the U.S for a period of 12 months or 18 months ( Depending on their major). The 12 months period is called the Optional Practicum Training aka OPT.
During your senior year, you first have to get a job or internship, once you secure a job, you apply for OPT through the USCIS bureau. Once you complete your 12 months of OPT, you can no longer stay in the U.S unless
1) The employer decide to sponsor you for a work visa ( H-1B visa) that will allow you to continue working for them. 2) You reenroll in school for another degree and continue with the F1 visa status ( not the best choice if you need full time employment) 3) Leave the U.S
Be aware that some companies ( like Grant Thornton) do not like to hire international students for entry level positions because the application for H-1B visa is costly and time consuming. When you apply for internships, they sometimes ask if you will need visa sponsorship form the firm in the future.
Can you work in the U.S under your student visa before graduation? Yes. How does it work?
There is something called Curricular Practicum Training (CPT). CPT is when you do an internship as part of a degree requirement or as a summer training program before graduation. The CPT is deducted from your OPT periods. So if you do 6 months of CPT ( a semester) it will reduce your OPT period to 8 months. Every two months of CPT is counted as a month toward your OPT period.
Things are definitely hard and complicated for international students. I don't know anything about the U.K system.
Not true about OPT/CPT. You can do your summer internship and your school would help you get a CPT. You would then need to submit your CPT forms every semester to continue working while at school. After school, you have 12 months to go. If you do not renew your CPT at the beginning of every semester (when you register for class), any additional time that you work would be deducted from your OPT.
The long and short of it, is that getting a Job in the US as an international student is a huge pain in the ass. If you have the option of becoming a permanent resident, do so. Having been an international student I can attest to it, the work authorization issue singlehandedly ruined my entire recruiting cycle.
seems like you have've been through all this so i just wanna ask a question about my case. Because of high school credits, i can choose to graduate in aug 2014 (after taking summer classes) or Dec 2014 (after fall sem). So with the H1B visa application timeline and banking hiring season, would you advise me to graduate in aug or Dec? Thanks a lot!
seems like you have've been through all this so i just wanna ask a question about my case. Because of high school credits, i can choose to graduate in aug 2014 (after taking summer classes) or Dec 2014 (after fall sem). So with H1B visa application timeline and banking hiring season, would you advise me to graduate in aug or Dec? Thanks a lot! Btw, I am doing an ER internship so it might help a little bit while applying for FT hopefully
Work Permit @ BB & Elite Boutique Banks (Originally Posted: 11/30/2013)
Hi Guys,
Recently noticed a post by a WSO monkey regarding H1-B issues. It prompted a thought…
Out of 4 major IB centers, Singapore and Hong Kong does not have a Green Card/Permanent Residency policy. So most of the BBs and Elite Boutiques sponsor Work Permit for IB Associates/Analysts etc and keep extending it till they need the person at that location.
What about NYC and London…anyone aware which of the BBs and Elite Boutiques sponsor for Work Permit and which are totally averse to it regardless of how good the candidate is.
Any insight is greatly appreciated!
All BBs except Wells and all elite boutiques do sponsor. Upper-end MMs do too.
Surprisingly, Blackstone doesn't.
Both London and NYC office?
All BBs in London sponsor... I bet EB do as well.
Not sure of London.
Who the hell told you this?
Not as straightforward as people here are making it sound. Know many examples of BBs not sponsoring or willing to go through the process.
International student here. From my conversations with people, the firms that do not sponsor visas are Deutsche Bank, Wells Fargo, and Rothschild. The rest of the BBs and EBs should sponsor (and this is for US only)
Who did you talk to at DB?
I talked to a VP who forwarded me to HR. Maybe I should clarify - they don't sponsor visas for investment banking, but they are open for sponsoring visas for Global Capital Markets (which seems weird...)
it really depends on what level your are getting (undergrad/mba)
i know BofA doesn't for undergrad but do for MBA. JPMorgan - main IBanking but not for other divisions.
Work permit for the summer internship (Originally Posted: 03/29/2007)
Hi! Does anyone know whether such banks as Merrill Lynch assist in getting work permissions (visas) for their summer interns in UK and if yes how they do it?
they will have someone contacting you directly...
if u have student Visa....and currently reside in UK....then u dun need the work permit...u are able to work here for 3 months during summer
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