Attn: All Canadians who work in the US: TN Visas will no longer be available to IB Analysts - New Regulations
This policy memorandum (PM) clarifies that for an applicant to qualify for TN status based on work in the profession of economist, the applicant must engage in activities consistent with the profession of economist. Activities that constitute a broad range of other professions related to economics, such as activity performed by financial analysts, market research analysts, and marketing specialists do not qualify for TN status.
What does this mean for those with SA jobs lined up in the US this summer and those looking to work there FT?
Edit: read things too fast.
So is there a new category for this? I can't seem to find anything official online. I will be completing my MBA in the US soon and this could really hamper my plans for IB post-MBA...
There is no new category, for new category to be added, congress needs to amend NAFTA. USCIS only interprets the law.
This is not true, and others have said as much on your comment in the other thread.
Your firm has to sponosr you for h1b.
Just for full time positions right? And if that's the case does this mean firms are likely to hire less Canadians for FT?
Exactly. H1B is a lottery. Economist TN is (was) a sure thing...
Well, if you are qualified enough firms will happily sponsor you for h1b, OPT is 3 years, you have 3 chances to get H1b.
Has OPT changed? I am pretty sure it is only 12 months. It is 36 months for STEM programs, which an MBA is not.
Look, I read through this carefully and talked to my lawyer today.
If you are on TN Visa, you should be okay for now.
If you need to get on a visa, you must state that your "PRIMARY" duty is as an economist, but you can state that "Secondary" duty may involve the duties of a financial analyst. Ie. make sure to talk your lawyer to ensure your letter states it 100%.
I think people are overreacting to this news, the laws are the same, UCIS has had this policy for many years for computer programmers who work on TN Category "Computer System analyst". A computer system analyst's PRIMARY duty is to analyze systems, not program, even though they may still program as a secondary duty.
Now, there are thousands of programmers who get visas as system analysts, even though all they do is program, and don't analyze systems at all, but smart lawyers can draft a letter that describes their duties as system analyst, and when CBP asks what their primary duty is they respond it is analyzing systems not programming.
TL:DR No laws have been changed, USCIS will be scrunitizing more, but the way around this issue is to have your lawyer draft a letter that emphasizes your primary duty is economist and secondary duty is financial analyst, and you will be okay.
Bumping this thread to get updated info, given that it's been almost a year now.
Anyone dealt with the TN visa in the last year? Also, are Canadian MBA students in the US having trouble staying back after graduating? Would love to get insight from anyone who's had firsthand experience with this.
Bump. Curious as well
My understanding is that many US banks have stopped interviewing Canadians period. Hopefully not true - this is based on recruitment at Ivey and my friend who worked at Jefferies (post-Ivey) and who has now come back - he wasn't kicked out, he just wanted to come back but he mentioned that Jefferies was just completely disregarding non-US applicants as it was too much of an unknown quantity atm.
Man that's pretty grim...
Spoke with some Canadian MBA students in the US who plan to stay in the US after their MBA. The current situation is that buyside firms have stopped sponsoring altogether. However, larger institutions (banks, elite boutiques, major corporates) are willing to sponsor.
I've spoken with three lawyers at this point regarding this issue as I am looking to renew my economist TN visa later this year.
From what I have been told, obtaining an economist TN visa without the strict duties of either a macro or micro economics nature will be extremely difficult. Switching categories at renewal time may help, although it depends on one's undergrad major (except for the management consultant category). Either way, for Canadians changing categories at renewal time, I am told to expect a high level of scrutiny, especially if you are staying at the same firm. Main reason being is USCIS' inquiry into how the "new" role is different from the "old" role.
It is true that many buy-side firms have stopped looking at Canadians. I have gotten a call back from BBs; however, upon mentioning my status, there is always a grunt or sigh on their part, as they know it is an uphill battle at this point. Not to say the firm won't try if you are a viable candidate, but chances are low given the cumbersome process and especially low if you are not located in the US. I say the latter because at least one can network with smaller boutiques and sell themselves to convince the employer to give their onboarding a chance. I should note that with all screening calls, I always mention that I am willing to bear the legal costs associated with any TN petitions.
Have you had any issues traveling in and out of the US?
Not at all.
I have my Nexus / Global Entry though. Was asked what I do and I simply said I’m an economist.
this includes mega PE funds ?
I did have a first round with a big PE firm, but the screening call was through a head hunter. I had to explain to him what the process is. Sometimes they confuse TN with H1-B.
It makes sense how it would be hard to word your way around being hired for IB.
Would a CFA (or atleast being in the process of getting it) help in obtaining your visa?
Given that’s its “financial analyst” charter, I am not sure if it helps, at least under the economist category.
Just about everyone I know has been able to get through. The only firm that has had issues is GS. Analysts at other firms have not had any issues at the border from what I have noticed. Perhaps this issue has been somewhat overblown. From my understanding, the firm that sponsors you has to say you're an economist in your employment letter and as long as you can answer questions at the border you should be fine.
Having a finance, commerce, economics or math degree helps. For example, I have a friend who was under economist first but was able to leverage her math undergrad for her renewal. Also know someone who came under the accountant category with a BComm.
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