Currently a freshman at a Canadian university.
A lot of confusion out there as to which banks are sponsoring Canadian students for summer and FT Investment Banking jobs in NY.
Is it still possible to get a job in IB in the US through the H1B or even a TN Visa since technically it is not a sponsorship (you just need a job letter) or am I mistaken?
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What I have got through networking as a Canadian:
BB:
BAML and JPM are now an auto ding if you aren't already legally authorized
Not sure about UBS
All others are on a case by case basis
EB:
GUGG should be an auto ding
EVR yes
MOE, PWP & LAZ case by case
CVP not sure
MM:
Almost always a no
WB gave me a first-round though
If you get a H1B or TN junior summer and then wanna recruit ft for the US, are you eligible to any US company b/c you have authorization or does it expire
I believe your H1B or TN is for that one specific role. If you were to switch jobs then you would need to go through it all again.
TN is technically not a sponsorship, rather it is a "status". All you need is a job offer and some luck at the border (but I believe it is harder if you job title does not correspond with the profession list). H1B is through very formal procedures and takes lawyers weeks to do.
So it seems like the only path forward for a Canadian to go south is through EB's. Even then I heard they're shrinking headcount too.
I guess Bay Street it is...
hopefully biden helps the situation
Can confirm Evercore accepts internationals. Buddy got an offer there a year ago and they sponsored
BAML sponsored last summer, are they not this summer?
Also, Jefferies sponsors unconditionally.
Don't know the specifics, but I know some of the EBs at the very least are still doing it (I know a guy going there)
Another way is to start at any bank in Toronto from BB/EB or the big 5 and request to transfer to any of the US offices. I heard it is easy to do and the process is through an L transfer (correct me if I’m wrong as I don’t know much about this). From there you can try to lateral to any bank you want it’s just a process that takes a 6-12 months to transfer to US and another 6-12 months to lateral. Again I heard it’s what a decent amount of people are doing but I could be wrong. If you are planning on being a career banker than it’s not a big deal, you get to work across different teams and cities (might like Bay Street so much you decide you don’t want to move) and take your time getting to the place you want. If you are dead set on the MF/UMM PE path then it is a bit more complicated since it’s going to be BB/EB in Toronto/US or bust.
Not sure about now but my good friend used a TN for his current gig at an HF in NYC. He went to school in NYC too for what it's worth, but retained his Canadian citizenship.
If you're trying to get to the US, you're in the wrong industry. *So much* easier in tech versus high finance.
Could you explain to me why, is it because of the categories like economist vs engineer or whatever
I am an American at a Canadian university. I know that Deutsche Bank and JPM (in the US) do not hire from Canadian schools regardless of legal status. I am legally authorized to work for them and do not require sponsorship, but still got an auto ding. I clarified with this HR and they said they don't hire from outside of the US.
Makes no fucking sense but it is what it is. Hope that saves you some time with networking.
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