Getting an investment banking internship as an international student

I'm a junior from Hong Kong at the University of Wisconsin - Madison, and I am currently seeking an internship in investment banking for the upcoming summer. I have a good academic record and tons of experience (three summer internships in the past), but the problem is most of the investment banks are not accepting intern candidates who require sponsorship for an employment Visa in the future. What should I do? Any feedback will be much appreciated, thanks!

 

Dude you are facing similar problems as i was facing earlier. If you are really very serious about Investment Banking then you should go ahead and get all insights about it.

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Hope this help.. All the Best :)

 

^ 90% sure that this guy is a spammer.

- Bulls make money. Bears make money. Pigs get slaughtered. - The harder you work, the luckier you become. - I believe in the "Golden Rule": the man with the gold rules.
 
kennethc:
I'm a junior from Hong Kong at the University of Wisconsin - Madison, and I am currently seeking an internship in investment banking for the upcoming summer. I have a good academic record and tons of experience (three summer internships in the past), but the problem is most of the investment banks are not accepting intern candidates who require sponsorship for an employment visa in the future. What should I do? Any feedback will be much appreciated, thanks!

I have two friends that interned at BB's in IBD this past summer who are not citizens. One is from China, one from South Africa. You can do it. Just network and network.

 
Best Response

I think you're better off trying to land an internship or full time offer with a BB or major bank in India. If you're in your final year already, then you've missed the boat for an internship, because a summer analyst role is typically only available to 3rd year (or earlier) students. If you're in your final year of your program, you would be going for a full time analyst role - wherein the recruiting in US for example, happens mostly in the fall.

Even if all of the above was not true, you would still be at a severe disadvantage because these banks would have to deal with getting you a work Visa for their office, versus going with local options.

In short, your chances are very slim. Try for local. Or, alternatively, look up your alumni that are at BBs or big banks via linkedin or your school's alumni portal, and talk to them.

 

"However, I am worried that getting internship in Asia two summers in a row looks bad for the future internship/ job search."

Depends where you want to work after graduation.

 

any further developments with this ychiang? i am in a similar boat in that i'm looking for internship/work experience whilst applying for post-graduate programs. I am also considering unpaid in order to get around the visa situation.

I guess you just email the relevant people/alumni, explain your situation + ambitions with a hint of desperation to learn and ask what they suggest in such situation, and try and segue that into an unpaid gig.

 

Try to ask the career center and see if anyone from your school is a banker. If you tried everything already, you may have to aim for a top MBA program after some work experience.

Sorry, I couldn't be more helpful.

 

Honestly, you are in a very tough situation to break into IB.

Network is your only bet. Try going for MM firms that support Visa. I have a friend who did that and got a job in a top MM although he wasn't from completely non target.

 

Yes, he will definitely need an H1B sponsorship. The problem is that most MM/Boutiques won't sponsor internationals (some of them don't even know the process of sponsorship, or find it too costly to do so), while BBs don't recruit from his campus.

I think the best thing you can do, in your situation is to apply for internship positions in your country (I've found that home countries tend to like US study experience), and don't go unless if it's a big name.. also, you have accounting as a back up - you can always do audit for a couple of years, then transition to Advisory. Or better yet, try hard to get an advisory internship (if advisory recruit from your school)

Hope this helps!

 

That's not at all meant to sound derogatory. It just sums up what I'm trying to say. I'm in a somewhat similar situation and that's what I intend to do. I took a job that I hope to be able to leverage into a good MBA program, and then get into IB from there. I plan to "go home" permanently after that.

"Aim for a top MBA program after some work experience" - agreed, you'll have a better shot that way. Try to find a job now that can be leveraged into an MBA program. Something having to do with your home country can set you apart from other candidates.

"Network is your only bet." - agreed. I recommend going through LinkedIn to find 1. Alumni, and 2. People from your country that are in finance. But call people, don't be content with emails.

"he will definitely need an H1B sponsorship. The problem is that most MM/Boutiques won't sponsor internationals" - Yes, this is a huge factor against you at the moment.

Back home, you've got a Western degree that I'm sure commands high value in the local market, even if it's not top-tier. You have better English than the local rivals, which is also a plus. You have none of the drawbacks that hold you back here.

If it's a Bulge Bracket you get into back home, you can always move back to US if you want to. However, if you go to a local I-Bank there, you may find it difficult to leverage that experience into getting a job in the US.

Hope this helps. Good luck.

 

you need to have a competitive edge since you're competing against the whole market who don't require visa sponsorships.

By competitive edge I mean other things like being fluent in a third langauge that can transform your disadvantage into an advantage.

you really can't complain about low GPA and poor networking b/c that has nothing to do with your status..

I have been in a very similar situation as you, however I have come a far way pretty close to breaking into BB Asia..

One tip would be to put yourself in the same shoe as others in the market and not think about visa issues since it's not like you are not allowed to apply because you're international, Constantly look out for opportunities like Job fair for bilinguals,

and don't give up, there are opportunities out there and don't forget that it's tough times for everyone regardless of whatever issues.

ping me if you have more.

I'll be more than happy to discuss careers with you

 

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