The U.S. Department of State offers many programs for non-U.S. citizens wishing to come to the U.S. for cultural, educational, or professional exchange.
There are two types of exchange Programs.
1. Short Term Exchange with Cornell(With a project)
2. Regular Exchange Program (One full term, usually fifth)
Regular Exchange Program:
The rank list would be published based on the Term 1 grades. They are the sole criteria for rank list. After publishing the rank list, there is a usual single window counseling method where students select from a pool of available seats as per their ranking.
Further, each one is provided an opportunity to select a dream university.
Assume if in the first round, ‘A’ Selects ‘XYZ’ University and later B select ‘ABC’ university and mentions ‘XYZ’ University to be their dream university.
Now, for some reason ‘A’ decides not to go exchange program, then ‘B’ can take a choice between ‘ABC’ and ‘XYZ’. If ‘B’ chooses not to exercise his option, then the next person who denoted ‘XYZ’ as their dream would be asked. This will continue until either seat is occupied or no more candidates left who selected ‘XYZ’ as their dream.
Short Term Exchange with Cornell:
This is a special type of exchange. The ranking list goes as per the regular exchange program. However, few caveats. This typically requires 2 years of prior work experience.
The exchange program is only one week duration in US. Selected students would form a group with interested studetns from Cornell. Together, they would work on some industry projects over the term. Non US students visit US during the start of the term for a week. The projects continue through the term and US students visit Non US at the end for a week. There would be a professor guiding these projects.
This is a very tricky area. I can comment only based on my experience in Sweden(Stockholm School of Economics). This university let all the exchange university students to interact with potential recruiters without any problem. If you were lucky enough to interact with a company and they are convinced to give a job, they would potentially sponsor the work permit.
In general, most European countries would require the student to know the local language to have a professional career there.