Brit applying to IBD roles on Wall street! Is this possible?
Context: Final year at a London Target Uni with SA IBD Experience at a US BB and other spring week/smaller work experiences/committee roles in extra curriculars.
Hi all, I am considering applying to IBD FT roles next recruiting cycle for roles in NYC, however from what I read, US recruiting is very different from London/EMEA recruiting.
Is there a point in applying for NYC? It seems networking is vital for NYC recruiting (unlike in London to an extent) but even so, should I even bother as I've never seen someone get hired directly from a UK Uni onto a NYC desk.
Not to also mention visa issues as I'm a British national and from a hiring perspective, I'm sure firms can find equally good talent from the US and fill spots that way.
Am I better off recruiting for London office and lateralling to the NYC office later down the line? What would be the best approach in this situation if I want to end up in NYC one day - should I start networking with NYC Bankers or is there a better way? Also are there any "off-cycle" equivalents for IBD in the US?
Grateful for any insights - thanks. :)
Recruit for London and lateral to New York down the line. It’s virtually impossible to make the move from a non US school to a US job if you don’t have US citizenship already, because you won’t benefit from OPT which makes getting an H1B in time impossible. For this reason, firms don’t take internationals outside of the US
Thank you! Very good insight and makes sense
It’s tough enough for internationals who go to American universities. A foreigner at a foreign school recruiting for the US will be much more difficult
Makes sense - thank you for the insight
Would you say the same for Canadians who are recruiting for US or things are different for them? As I know some Canadians who work at Banks/Boutiques in US even without having studied there plus they always say that it is possible
Canadians have different policies/visas which makes it easier for them to work in the US without going to school here. Other nationalities don’t benefit from this.
I joined a BB in Europe and was transferred to NYC afterwards, I would recommend doing it that way. You can try to interview in the US and, in theory, you can get the H1b without CPT/OPT and no internship. But in practice, this would be very, very difficult to pull off. I don't believe any key employer would do it.
Wow - very well done, did you transfer from a European office or from London and how did you find the move/how long after joining did you make the move? Was your bank flexible on mobility or did you have to be a top performer? Is internal mobility just a HR myth to tell aspiring uni students haha
I was at an EU office, found a microscopically small HR program that offered a move to NYC. Wasn't advertised or anything. signed up for it, nobody else was interested and I got the chance to move. The internal screening started 18 months after joining the bank, and I moved just before the 2 year mark. Bank took care of all paperwork and even paid for the initial apartment.
Do you have any insights on Canadians? Is it difficult for them too?
Canadians can either get a local job and then transfer on L.
Or may qualify for the TN visa if a US bank sponsors, or H1b.
Also, Canadians qualify for the E2 (treaty trader/treaty investor visa), if an employer would go the non-immigrant route and if the business meets the eligibility criteria.
Like many intl. applicants, Canadians may also qualify for employment/family/NIW/other - based permanent residency ("green card").
While immigration is never easy, I would argue that Canadians have more ways into the US than other nations.
Biggest upside for native Canadian applicants would be:
- native in English language (many EU applicants are fluent, but not native)
- physically closer to the US (neighbor)
- Canada is part of "New NAFTA"
- potential to be bilingual in English and French (there are nice jobs in Quebec plus it is beautiful)
- more cultural awareness of North American culture, especially work culture (which is different from all the EU cultures)
visa issues and foreign uni aside, which are already enough reasons to make this conversation moot, FT hiring at BB/EB/Top MM ended ages ago. Not sure how it works in the UK, but in the US nearly everything is decided at least a year+ in advance for internship and FT offers with a couple exceptions here and there. TL:DR there is nothing for you to even apply to even if you could. transfer from UK is going to be your only option
Canadians + Australians + I think Singapore but could be wrong there are the only ones who reasonably have shots on goal applying while not attending US universities due to non h1b visa programs. Pretty uphill battle apart from them.
No, don't do it, really. As others said, apply to a London office, and if you're still interested in a move to the US, start looking internally for the possibility of a lateral move, but after 1.5-2 years at least.
I made the mistake several years ago of applying for summer internships in NY IB from London (I was a student there). I wish I had checked WSO or some other career resource...long story short, obviously I got no offers in NY (no one would sponsor an international studying abroad), and royally screwed the beginning of my career because I applied to internships in NY only, so there were no options left for me to pursue in London. It took me 4 years of working in middle office and an MBA to get back "on track"
Why couldn’t you apply to London for internship as well after not gettng offers in London? I’m European student at semi target US that is deciding where to recruit
You can't apply to NY and London - they make you choose. Back then the recruiting timeline for the two places were more aligned, so I thought of recruiting simultaneously in both places, and emailed HR to ask about it. Turns out you have to pick one office, at least back then
I highly recommend just applying to the London offices and then transfer internally to the US office
Read the links in my post there: https://www.wallstreetoasis.com/forums/lse-vs-stern#comment-2313049
Can always rely on ya Pan
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