Big 5 Bank in Toronto to BB in NYC (2nd Year IB Analyst) (H1B & Job Offers)


Hey guys, I need some advice regarding transitioning from Toronto to NYC. I'm a second year IB (DCM) analyst at a big 5 bank in Canada. I'd like to move to a BB or EB in NYC, mainly due to family reasons and visa sponsorship. Please note that I will be applying under the H1B program. 

How does recruitment work? A couple of my buddies from college ended up in BB in NYC from school. I know it's possible for entry level programs. Since H1B requires applying one year in advance, does any BBs or EBs sponsor lateral candidates?  

Not sure how much networking helps or if I should just apply online. I believe the eligibility to work in the US won't even send my application to the hiring managers. I have a diverse background and experience. I have also had some good deal flows. 

Did headhunters help you? A couple of them reached out to me but I haven't had any discussions yet.

I am mainly looking to lateral to another bank and not interested in buyside roles. If there are any Canadians that moved recently, I'd really appreciate if you could share your story. 



Comments (12)

  • Intern in IB - Gen
Oct 18, 2020 - 2:32pm

No offense but please don't bother responding if you are in college or a summer analyst 

Ah man, that's really unfortunate. As a fourth year international student and former summer analyst at a Big 5 in NYC who's talked more than a few times to BB analysts/associates on lateraling, I could have given you the info you need. Too bad I guess

Oct 18, 2020 - 8:36pm

You still haven't moved to a ft role and completed the process. I have buddies that went through the same process in BBs in NYC as you did and I don't think their experience applied to my case. I was hoping someone that went through the process share their experience.


Anyway, my apologies. I think other students can benefit from your experience. I will edit my post lol

  • NA in IB-M&A
Oct 18, 2020 - 9:20pm

Are you a Canadian citizen? Most Cdn bankers apply for the TN visa, not the H1B

Will be very difficult to lateral to the US right now given COVID uncertainty, especially since you're at a Canadian bank and in a DCM group. Most BBs/EBs dont sponsor Canadians anymore (except for a handful) 


Oct 19, 2020 - 12:07am

TN has its downsides. I cannot apply for Green Card. My family lives in the states and I'd like to be able to apply to green card. 

My role is actually a hybrid role, not purely DCM. We sit in between IB & DCM, think more project finance. I have seen a lot of DCM folks move to other IB groups. 

You are right about COVID. Since H1B's take a year to process, I am thinking of recruitment one year from now. By then, I'd have some good experience and with DCM deal flows, I think I'd be in a good position for recruitment. What do you think? 

Regarding EBs, I have actually seen several Cdn hires recently. It is such a random process. I think it just comes down to your network.


  • Analyst 2 in IB - Ind
Oct 19, 2020 - 12:31am

No firm is going to hire a lateral from Canada using an H1B so you can pretty much throw that out the window. Why would they go to the trouble when a TN is much easier? Especially if you're coming from a DCM group (project finance might actually be worse from a recruiting standpoint) you don't want to be the nail that sticks out/make it any harder for them to hire you. Second, the lateral process is highly network focused. If you didn't go to Ivey/Queens with a clear network to a handful of firms (EVR, Moelis, etc.) you're going to be facing an uphill climb because a ton of people from those schools are going to be recruiting from roles in traditional IB at RBC/BMO and using their school name/numerous friends to get those interviews/roles. I think there's a weird perception that you can network with / get an in from pretty much any other Canadian but for the most part the people from these schools are getting reached out to 24/7 from their own alumni so there's no real incentive to helping out someone from another school.

  • Analyst 1 in IB - Gen
Oct 19, 2020 - 12:54am

Pretty high demand for people with a project finance skillset - you can probably lateral internally within your bank. Canadians (espec Scotia / RBC / CIBC) have very active PF teams in NYC.

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