Student from Japan applying to IB in the US
Hey guys,
I'm planning to apply for 2020 & 2021 SA positions in the States and would really appreciate it if someone could tell me whether my plan is a realistic one.
Just really in need of a reality check since everyone around me is applying for APAC offices (TYO/HK/SG) and I have very limited info regarding SA recruitment in the US.
A brief overview of my background is as follows:
- Junior at University of Tokyo (25 y/o due to two gap years for internships & CFA exams)
- GPA 3.3 / 4.0
- Two off-cycle IBD internships (both at BBs) - Tokyo & Singapore
- Off-cycle Equity Research internship (at a well known MM) - Tokyo
- Off-cycle PE internship (at a boutique PE) - Tokyo
- CFA lv.3 candidate
Thanks in advance and sorry for another "chance-me" post.
you have a ton more experience than anybody else would applying for SA positions. might be a rare occasion of over qualified? if not, im sure you will get looks for an interview, up to you to convert
Thanks!
3.3 GPA is a major red flag. You have a lot of experience which is a plus. But having to be sponsored for a visa, having a 3.3 gpa, and coming from a foreign country will all work against you. It may be best to work for Nomura and then try and see if you could transfer to the US.
Also 2020 recruiting is done. So you'd only be looking for 2021.
thanks for the input. Since I have a dual citizenship, I guess I'll have to come up with a way to overcome the last two parts you mentioned.
In that case your situation is significantly better. I'd start networking with people and saying you're an American studying in Japan so they know there's no visa issues. The only issue is your GPA. You said you were looking for 2020 and 2021 internships. So I'm assuming you're a sophomore. That means you have this entire year to get your GPA up. if you can get a 3.5, it will help you immensely.
Knowing this, I definitely think you're in a much better place and getting a 2021 internship is doable. it will be difficult and take a lot of work, but it will be doable
Try to start networking and reaching out to IB guys in the US. Recruiting in the US is a lot more relationship-driven than APAC, i.e. your experiences make you very qualified, but many applications end up not even getting looked at without an internal referral. If you don't have any contacts, find some Japanese names on LinkedIn for the banks you like and cold-email them (honestly, these guys will be more likely to reply to you).
Also, IB interns in the US are generally 21 year-old university kids - that's the standard. Be prepared to pitch why firms should take the risk of considering a different profile such as yours.
Realistically, I think it is a bit of a long shot. A good backup would be starting in Japan at an international bank and lateral to the US after a year or two.
Yeah I guess I'll also have to consider starting my career in Japan. Thanks for the advice :)
Few things: (1) Univ of Tokyo from my understanding is a very prestigious school, but I don’t think that’s common knowledge in US (so they’ll only see the 3.3 GPA, and not ‘oh it’s at a very difficult to get into school’); (2) presumption that your English language skills are suspect (resume and cover letter quality may counter that, but hard to fight subconscious biases), (3) the biggest concern - proximity. It’s always difficult to recruit overseas. When I lateraled to Asia from North America, it was quite difficult; when I tried going Asia back to North America, it was even more difficult. As far along video conferencing has come, people still want to meet their potential hires where possible and get a sense of the ‘vibe’ (does he/she fit with us? Can we gel with them? Do I want to spend 12-16 hours a day with them?)
The things you have going for you are your dual citizenship and brand name, relevant internships to date. If you are dead set on recruiting for US offices, you’ll need to do a lot of extra leg work - networking with people, maybe if you’re in US for trips set up coffees in advance. You need to highlight all the things attractive about your profile, and stay on top of recruiting timing / processes, and just find your way in.
Alternatively, or simultaneously as a plan B, you can recruit for local BB offices while making connections to US offices. This is more a long play - get in the door for local offices, and transfer. This will depend on the BB’s mobility program and likely ad hoc needs.
Wow. This is super helpful. Due to personal reasons, I won't be able to visit US too often, hence limited networking opportunities. I guess I'll have to go with the plan B you mentioned. Really appreciate your advice. Thanks.
Networking doesn't require proximity as much though. You can always call people from across the globe as long as you stay up late midnight to suit the other person's timezone. It's more interviewing that becomes a problem. I think you can spend some time on the phone with US bankers and see what they say before giving up altogether.
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