Hey all,
Have a quick question to those who are in the same boat and to those who might have heard at work about international student permits in this environment:
I am from non-target school, with an ok GPA, WM in boston, MFI internship in South Africa, DCM internship in UK, this summer have DCM internship in Moscow and marketing in Estonia to choose from. have an outstanding list of extracurricular, which reflected on my GPA during freshman year. Excuses excuses I know. Fluent in Russian.
My question is whether banks are hiring internationals in this market? I am a junior now, and trying to make some decisions this summer. Is it worth applying for jobs in US, or should I just give up and start studying for GMATs? The thing is to apply for work visa in US-OPT, is around 400, an investment worth making if I get a job, but if noone is hiring Id rather pay that money for a shot in masters.
Please let me know what you hear and know
Can't you wait until you get an offer to apply for a work visa?
the thing is that if they are not hiring i might as well take time off through grad school and not even try, instead study for GMATs and grad school apps.
despite the new article in WSJ about international hirings I HK, London have enough of their own unemployed well skilled bankers who will take that job, versus sending a recent undergrad from states
you could also just apply to locations outside of the US...
I don't understand the point of going right from undergrad to get an MBA. There's only one exception I can think of, and if you're interested in banking, it doesn't apply...
if you're looking for something now, you're probably too late to apply for OPT. see here: //www.wallstreetoasis.com/forums/is-it-too-late-to-apply-for-opt. second, if you haven't found a job to start in two months you're also probably too late. (at least in terms of a company who will be willing to sponsor you in the future..)
if you're (or anyone else) thinking about next year, calm down first. Nobody can predict what hiring practices will be like. those banks on the WSJ seem to be making an effort to relocate you, but next year (unless they repay tarp), they will probably ask you to apply directly to their foreign offices. this being said, BofA/ML outright rescinded offers to int'ls instead of relocating them somewhere within ML's int'l network. i would expect C to do the same next year given the massive pressure on reducing headcount.
so what i'm trying to say is that some large banks are willing to go w/ you now, but may not be able to sponsor your H-1B or send you abroad. H-1B is apparently not a problem this year, but I would not expect this year to be indicative of future years. if it is, then you're going to have trouble finding jobs, int'l or not. if it isn't, you're going to have trouble finding someone willing to sponsor you and possibly relocate you.
thanks for input guys,
I am graduating in may 2010, I read that WSJ article about banks outsourcing their H-1B employees to other offices. RE: masters, I was considering doing Masters in Finance or that sort, take time off before the job market gets better. I know things might change by may 2010, but i want to hedge myself. should i study for GMATs GREs, and if so do you guys know good schools that took a lot of internationals?
another question, just out of curiosity do you know anyone who laid a good position from a non-target for an international?
the problem w/ pushing it off as you are suggesting doing is that a lot of people are doing exactly the same thing, so you're just shifting the applicants around... and then all of you are going to crowd the exact same market
Monito,
you mean doing masters instead of getting into IBD?
sorry slightly misunderstood.
yes, doing a masters instead of going straight into IBD
a lot people are doing that right now, meaning that in 1-2yrs a lot of people who went into a masters b/c they couldn't get into IBD directly will be competing against each other, plus everyone else who will be looking at IBD w/o a masters
there was an interesting thread about H-1B versus OPT for internationals going into banking on WSO. I am a bit sceptical on the job market improvements in may 2010, should I be applying straight for the international branches?
there aren't really that many banks that would sponsor you right now, so you should apply straight to their international offices.. you should also apply to their US offices, but they may straight up turn down applicants who need a visa. the only pt of applying for the US office is that it would be easier for interview purposes
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