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Banking in London: US schools that provide organized access

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Banking in London: US schools that provide organized access [#permalink] New post 13 Jun 2008, 19:52
I just came accross this site by chance (banking is not my thing) and thought it might help. It's about an event organized to facilitate interaction between MBA students (typically 1st years) and the major banks in London.

http://www.londonbankingdays.com/Candidates/Home.php

As you can see from the site, the participating schools are the Ultra-Elites + NYU.

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Re: Banking in London: US schools that provide organized access [#permalink] New post 13 Jun 2008, 20:19
I met several people at Chicago GSB during my visit that are planning to spend the summer in London. I believe they have a fairly sizable number go over there every year.

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Re: Banking in London: US schools that provide organized access [#permalink] New post 13 Jun 2008, 21:10
Immigration laws in UK have changed.... So be sure to look it up

Should be OK for most MBA's because the Masters and salary should be enough to take you to the 75 points needed... providing your previous salary (pre-mba) is around 70k USD or more.

http://www.workpermit.com/uk/uk-immigra ... grants.htm
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Re: Banking in London: US schools that provide organized access [#permalink] New post 13 Jun 2008, 21:13
terp06 wrote:
I met several people at Chicago GSB during my visit that are planning to spend the summer in London. I believe they have a fairly sizable number go over there every year.


On their employment booklet it says 6% or roughly 30 students. Not sure how many are just returning back to London, but I am assuming it is possible. My question is if you work for a bank in the US with a branch office in London, is it easier to get relocated to the London branch or is it almost like trying to apply for a new job?
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Re: Banking in London: US schools that provide organized access [#permalink] New post 14 Jun 2008, 01:02
togafoot wrote:
Immigration laws in UK have changed.... So be sure to look it up

Should be OK for most MBA's because the Masters and salary should be enough to take you to the 75 points needed... providing your previous salary (pre-mba) is around 70k USD or more.

http://www.workpermit.com/uk/uk-immigra ... grants.htm


Are we Tier 1 candidates? In their Tier 1 Calculator they have this option:

Quote:
* You intend to make the UK your main home
* You will continue to spend most of your time outside the UK - not eligible


If we come to UK for, say, two years and then go somewhere else, can we choose the 1st option?

The language requirement is not clear - what is C1 level of English??? Is there a TOEFL equivalent for that monster???:

Quote:
* Your English is at least C1 under the Council of Europes Common European Framework for Language Learning

* You are a citizens of a majority English speaking country on this list

* You have earned a Bachelors, Masters, or PhD degree from a school on this list

* You have earned a degree that meets or exceeds the equivalent UK degree taught to a C1 level of English, as assessed by UK NARIC

* You have previously been granted leave to remain in the UK under Tier 1 for GHSM

* You have been granted leave to remain in the UK under the HSMP for the rules in place since 5 Dec 2006

* None of the above - not eligible


What kind of visa will we need for our internships? I think it should be smth different from Tier 1, maybe Tier 5 (visa for temporary workers) :roll:
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Re: Banking in London: US schools that provide organized access [#permalink] New post 14 Jun 2008, 03:02
if your undergrad/postgrad degree is in an English speaking country, you pass the language criteria (you get 10 points)
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Re: Banking in London: US schools that provide organized access [#permalink] New post 14 Jun 2008, 04:15
togafoot wrote:
if your undergrad/postgrad degree is in an English speaking country, you pass the language criteria (you get 10 points)


Toga, the problem is that I am an international student and my undergrad degree is not from an English speaking country. I feel that C1 level can somehow relate to TOEFL/ IELTS. Could anyone please confirm :)
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Re: Banking in London: US schools that provide organized access [#permalink] New post 14 Jun 2008, 07:24
C1 level is part of the Common European Framework of Reference for Languages

http://en.wikipedia.org/wiki/Common_Eur ... _Languages

If you want to work in Europe and English is not your native tongue, then firms often require you to have at least a B2 level, and in some cases a C1 level.

At C1, you

"Can understand a wide range of demanding, longer texts, and recognise implicit meaning. Can express him/herself fluently and spontaneously without much obvious searching for expressions. Can use language flexibly and effectively for social, academic and professional purposes. Can produce clear, well-structured, detailed text on complex subjects, showing controlled use of organisational patterns, connectors and cohesive devices."
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Re: Banking in London: US schools that provide organized access [#permalink] New post 14 Jun 2008, 07:49
Thank you, trader!

I believe that the TOEFL score with the comments to different parts of this score will be enough for meeting this C1 level requirement. Anyone disagrees?

Another question is how do we confirm our salary - through the extract from the banking account or tax return? Has anybody already thought on that issue? Before going to school people might want to collect necessary documents confirming their salaries.
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Re: Banking in London: US schools that provide organized access [#permalink] New post 14 Jun 2008, 12:08
Living and working in london has always been in the back of my mind as something that I would like to do one day. Let me pose a scenario, and someone please tell me if I am correct in my analysis.

I go to one of those schools listed on the london banking days site (although I'm sure there are plenty of other schools that send kids to london), and I manage to secure a summer internship at a bank in london. I do really well and they offer me a full-time job upon graduation, and so I move my life to the UK. Are you guys saying that because I made less than $70k/yr (much less actually) prior to my MBA, I would be denied a visa to work at this particular company? Even if they were paying me a substantial post MBA salary?
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Re: Banking in London: US schools that provide organized access [#permalink] New post 14 Jun 2008, 19:25
VictoryMBA wrote:
Living and working in london has always been in the back of my mind as something that I would like to do one day. Let me pose a scenario, and someone please tell me if I am correct in my analysis.

I go to one of those schools listed on the london banking days site (although I'm sure there are plenty of other schools that send kids to london), and I manage to secure a summer internship at a bank in london. I do really well and they offer me a full-time job upon graduation, and so I move my life to the UK. Are you guys saying that because I made less than $70k/yr (much less actually) prior to my MBA, I would be denied a visa to work at this particular company? Even if they were paying me a substantial post MBA salary?


Victory, I don't remember where you're from, but it's unlikely that you won't get a VISA in London, even with the changes in HSMP, in UK to get a VISA is still much easier then other places. I won't tell my whole SAGA with VISA here in Portugal, but if I knew how hard this process would be, perhaps I wouldn't have accepted to come here in the first place (seriously sometimes it's not just boring to loose days in lines).

Anyway, I know many MBA graduates from several different schools and countries who are now in London. From GSB I know 1 Brazilian guy working to GS and another who made a summer internship at Barx and was offered a spot but he declined because he had a better offer somewhere else; from CBS a Brazilian guy working for Lehman, from NYU a Mexican gal working for Lehman, and Many others in BofA, HSBC, JP, and UBS (these are the banks I have more relationship with). Having and European passport would make things much easier.

These things change all the time, until last year, if you had an MBA from 50 listed schools, you automatically would have the 75 points, now they changed the rule, and they may in 2 years change once again, so I wouldn't worry now with how the things are, because they will probably be different. And if they want you they will get a VISA for you, even if you're going to Iberia :lol: (TRUST ME, Portugal and Spain are places very hard to get Visa).

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Re: Banking in London: US schools that provide organized access [#permalink] New post 14 Jun 2008, 19:56
i'm not an expert in this area because I am a UK passport holder, but i believe the salary requirements are different depending on where you worked. Countries are tiered with different levels.
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Re: Banking in London: US schools that provide organized access [#permalink] New post 15 Jun 2008, 00:10
togafoot wrote:
i'm not an expert in this area because I am a UK passport holder, but i believe the salary requirements are different depending on where you worked. Countries are tiered with different levels.


That's true - $70K threshold is for developed countries.
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Re: Banking in London: US schools that provide organized access [#permalink] New post 15 Jun 2008, 18:27
My focus is just getting into one of the b-schools on my list but I can't help but wonder: do schools and/or summer employers help you with visa arrangements and such if you want to work abroad? Or are you pretty much on your own?
thanks!
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Re: Banking in London: US schools that provide organized access   [#permalink] 15 Jun 2008, 18:27
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