Calling Canadians that went the American MBA route to break into NYC IB. What was the journey like and was it worth it? I am at the stage where I am thinking of pursuing a US MBA from Canada to break into a BB down in NYC. Currently, I am in corporate banking at a Canadian bank in Toronto. I know it will cost an arm, especially with the weak CAD in my bank account, but thinking in the long run if the ROI will be there.
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Based on the most helpful WSO content, the journey from a Canadian corporate banking role to a US MBA and then to NYC Investment Banking can be quite challenging, but it's not impossible. It requires a lot of networking, showing initiative, and demonstrating your commitment to working in the US.
Here are some insights from the WSO threads:
Networking is crucial: You need to show a high level of conviction about moving to the US. This can be demonstrated by making your own trips down to the US, networking, and taking advantage of any connections you may have.
MBA Schools: If you're considering doing an MBA in the US with the intention of coming back to Canada, you should look into which MBA schools are best for Canadian firms. The top few will likely be the same no matter where you're going, but some programs may have better connections to Canada.
Post-MBA Opportunities: After completing your MBA, you might want to look into consulting or other post-MBA opportunities. This could help you transition into your desired role.
Consider your long-term goals: If you're planning on doing banking long-term, the Canadian IB landscape might be better for work-life balance. However, if you're aiming to do buy-side (PE, HF, AM), staying in the U.S. could provide more opportunities for these roles.
Remember, this is a big decision and it's important to weigh all your options and consider the long-term implications. It might cost a lot upfront, but the potential ROI could be worth it if it aligns with your career goals.
Sources: Canada to NYC Lateral, IBD Barriers to Entry For Canadians and How to Overcome Them, Canadian Looking at US MBAs, Q&A: Coming to America - A Canadian in New York
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