I wanted to start a central thread where all Canadian undergrad students could comment and share inquiries, information, and concerns regarding investment banking summer analyst recruiting/timeline for summer 2018 in CANADA (Toronto, Vancouver, Calgary, etc)
Canadian banks:
RBC
CIBC
TD
BMO
SCOTIA
NBC
MM/Boutique:
Canaccord Genuity
GMP Securities
Blair Franklin
Origin Merchant
Evans & Evans
Globals:
BAML
CS
JPM
GS
Barclays
Evercore
HSBC
Wells Fargo
Best of luck to everyone grinding right now!
Anyone know how open Canadian banks are to Canadian students studying at a top school in the UK? Or is it generally Ivey/Queens/Schulich/McGill for all their hires?
I'd say SA classes are almost 100% filled by Canadian schools. A few here and there from Laurier/Waterloo/UofT and maybe 1-2 top performers from non-targets, but Canadian banks are definitely less receptive to those outside Canada.
If you're at a top school in UK why would you want to come back to Canada?
I am Canadian and just want to hedge my bets in case overseas recruitment does not pan out well.
Hey Quick question
I am at a UK Target interested in doing a year abroad - McGill + UoT are top Canadian choices.
Which one is the more 'targetted' one as I haven't been able to find anything useful detailing how canadian unis are ranked wrt targets
I'd say McGill. UofT/Rotman has been less and less targeted over the past 5-10 years. Although both are great schools.
Tip for those who attend a target: Try to leverage your network to figure out who the recruiting captain is for your school. In terms of networking, I'd say associates and VPs should be your focus. Anybody higher probably won't give you the time of day, whereas analysts are open to chatting but have less pull. From what I've seen most recruiting captains are associates as well.
It's kind of late now, but high GPAs these days go a long way. Lots of kids with traditional "finance" backgrounds are getting passed up for kids who have a 3.8+ and demonstrated a bit of interest in finance(even if it started a month before recruiting season). Another piece of feedback my friends and I got as well especially with the Canadian banks is not to seem too rehearsed. If you attend a school with a lot of resources(alumni, mock interviews, prep guides.. READ: Ivey/Queens), its actually possible to over-prepare. Canadian banks care much more about fit as opposed to being able to memorize every question in a guide. In fact, interviews at Canadian banks are more like 70% fit/30% technical.
For non-targets, is there one associate/analyst who does all non-target school recruiting or does each non-target have its own person? I agree with everything except that I heard Canadian banks are a lot more technical than fit, since generally applicants have finance degrees as opposed to liberal arts in the states.
From what I have heard, techincal is far less consequential.. With the exception of maybe BMO, which Ive heard has a more challenging technical component
my experience as well, had one interview with big 5 that was 100% technical aside from tell me about yourself
The recruitment captain piece is key.. Try and initially meet with a couple analysts from each institution, set a good impression and they will typically be receptive in giving you that info. If you can make a good impression on those recruitment captains, and your credentials are good, basically guaranteed an interview!
Should we start doing that in freshman year? Or wait till sophomore when you have a bit more credibility?
EDIT: Not sure why I am getting monkey shit. Legit question.
EDIT 2: Non-target seniors losers throwing money shit at me cause they didn't start networking earlier and now are screwed....
Met with an analyst from the BAML sat office in Toronto, and he told me apps open in January.. Why? Does that not put them at a competitive disadvantage, or is that purely to wait for first semester IVEY marks to come out lol?
Would you guys say that going to a target school (Queens/Ivey) matter a lot, as it does in the US? Good luck to all ya canadian fellas here!
i would say it definitely doesnt impair your chances, but as long as you dont go to a shitty school and you put in the grind/get the right contacts you should still be good (based off my experience going to a semi-target and making good traction so far)...
If you do to Ivey/Queens/Schulich/Rotman your set.
*Ivey and Queens, Rotman and Schulich are both bottom bucket schools with not nearly as much pull/prestige as Queens and Ivey. HIM at Mcgill as well is with Queens and Ivey but not Mcgill general finance
This is the nicest thread I've ever been! Good luck folks.
When does the recruiting for Canadian banks start? I heard it is much later than all the NYC applications. I am a Canadian student coming from NYU Stern.
Info sessions should span across October depending on school. First rounds are beginning of November. Final rounds are mid November from my understanding.
Anyone know if the recruiting timelines for BBs for Toronto are the same as the states? Big5 are pretty much out for me since I'll be going on exchange which runs into end of May. Thanks!
October-November for all BBs
is that for their Canadian offices?
Lol @ Vancouver. It's pretty much non-existent here so look elsewhere.
Can someone confirm whether canadian banks ask for references?? Didnt end my first internship on the best of terms lol
I was not asked for references for my summer stint a few years ago. Not sure if it is any different for FT.
They won''t ask for references applying for the job but before you start they will. before I started I was asked for references which they did call btw and spoke with on the phone for ~15min. My experience from an unnamed Canadian bank
Before you start, they will do a background/reference check for the past year (usually).
past year? Does that mean you cannot use references from earlier than the past year??
johnnyboiii have you started networking and meeting ppl via phone call and coffee? do you think its too late to start?
A little late to the party if you havent done any networking thus far.. Unless you have a perfect gpa and resume i would get started asap.
Done school however I wanted to chime in with my thoughts on IB in Canada. Ivey/Queens/Waterloo will be the best in terms of feeding you into IB/S&T IMO. Regional IB/certain programs like UBC PMF, University of Calgary and HEC Montreal will place you as well. I'd like to say UofT, McGill, and York Schulich will be runner up after the top 3 and everything else is pretty much a non target.
Side note: I forgot which student groups at Ivey/Queens have guides floating around the internet/their website but I believe the QUIC guide/the Ivey Capital Markets club may be the ones that appeared top notch.
I would specify that UofT MBA's generally do alright, not undergrad. Schulich is the other way around, with their MBA class being pretty brutal but certainly a legitimate 1b-tier for undergrad.
Waterloo is actually a feeder for ib/s&t? Dam I really thought they were just an accounting prep school for the big 4.
I feel like Waterloo is definitely one of the feeders for S&T (CS and Engineering), and Big 4 for sure. There is a less significant presence in ib from what I have seen so far comparing to Queens/Ivey...
As someone attending a "Canadian target", I'm actually quite surprised at how much the forum undermines names such as Rotman/Schulich/Laurier/UW. Sure if you're speaking BB/EB or IB in the US its really Ivey/Queens/McGill lights out, but if your goal is Big 5 or one of the independents in Canada, the schools above place just fine.
Agree with this fully, went to a Canadian target as well. Rotman, Schulich, Laurier and Waterloo all fly under the radar. The reason you don't see as many of these kids in IB is that there is way less of a push into IB at these schools, they tend to be big 4 feeding powerhouses.
In my opinion, if you go to one of these schools, have a good GPA, and become reasonably well informed about IB you should have no problem getting an interview in Canada, the networking and encouragement just won't be spoonfed to you like at Queen's/Ivey.
spot on
Anyone hear about any Toronto offices having accelerated 2018 SA recruitment events later in the summer? BMO already had theres + I know Canaccord is doing one in ~2 weeks (pretty sure these were invite only)
Just wondering where did you hear about BMO? I went to their BMOCM event and HR said they did not do accelerated program in Canada. They only might invite former SA or former co-op students for early interviews...
I was referring to the event on June 22nd
These invitational events are strictly for getting to know candidates/screening, and is by no means the main recruiting platform for target schools(might be more important for semi-non-targets). Are attendees at an advantage come recruiting season? Probably. Are you out of the running if you didn't get an invite? Definitely not.
Has anyone gotten any news regarding the RBC Diversity Scholarship which came with a summer analyst job for 2018?
Anyone else get invited to the Canaccord Genuity cocktail on July 26?
.
Bank's generally do not unless you're some CEO's son.
I've actually seen a few Rotman/schulich/laurier+UW kids at big 5 banks during their sophomore year/second co-op if that counts. You're better off looking into where upper years and alumni of your school interned in 2nd year to get a sense of what firms hire for internships.
I understand that it is a target, but how difficult do you guys think it is to break into IB from Ivey, especially NYC based IB? Do students put in a tremendous deal of effort to land these positions or is it easier than I am making it out?
Of course they put in effort, what do you expect? Do you think Lloyd Blankfein is strolling down to London, Ontario with a huge boner looking for the next stud from Ivey? It's doable if you put in work and enough people have done it that you're not blazing any trails.
spat my drink +SB
Does anyone know how big the IBD class sizes are generally for Toronto offices?
For SA classes, I think ~8-10 for big5 (with exception of Scotia which is 15). Boutiques/international guys are 1-3
Does this include LevFin too? Thanks!
If each big 5 is 8-10, how can RBCCM do the women's and diversity scholarships that offer a summer placement (5 each). Does that mean this year, RBC filled its entire class with scholarship recepients?
.
CIBC has a sophmore class of interns, I don't believe it is diversity based, but could be wrong.
Any idea how many candidates typically get superday interviews at Big5 and even boutiques on average??
hey johnny when did Can gen say they would start their recruiting process for SA
for people who have worked at banks, do they request your official transcript from your school after you are hired or?
They ask for your unofficial transcripts when you are applying.
and then will you need to submit an official transcript later on or?
Anyone know when the Macquarie Toronto office started their SA process last year??
I don’t know about last year but it’s started for this year.
Im aware. Thx
Does anyone know how one would go about Canadian recruiting while attending an American school (Ivy)? I'm a Canadian and want to keep NY and Toronto options open.
You're going to be dinged as soon as people get a whiff that you're leveraging for NYC so you'll really need to sell "coming home". Otherwise you need to network and will need great grades given most Ivy programs don't have business undergrads so you'll be a bit behind the curve relative to Canadian targets.
Wonder if anyone know how many SAs Evercore takes for their Toronto office each year?
0-1. Believe they posted this past summer, but not sure if they took anyone. Advice for those recruiting for Toronto: It's fine to chase the big names if your goal is to do banking for 2 years and dash, but if you're looking for a meaningful experience bigger isn't always better, especially when it comes to satellite offices.
Don't get me wrong, there are very legit international banks in Toronto(and growing their presence rapidly) such as MS, BAML, and Barclays, but there are also some that act more like a Canadian coverage office that essentially provides the firm access to Canadian capital markets but bring the execution on big deals to their NYC office. You might get your hands on a few syndicate deals, but from a learning perspective there's not much work involved.
Thanks for your insight. Would like to know more about which names belong to which category (legit vs satellite), especially the BBs.
Believe it is 1 and they're almost always returned and sign back.
Anyone have any clue what CIBC is doing in terms of their SA process? I heard they havent even set up their recruitment team for SA2018
Just got a call for IB Associate program at RBC, first round with no time to prepare. Has anyone been through RBC 1st round if so, was it more on fit or technical? I'm not even sure if its with HR or Associate/VPs..
Any update on any of the firms listed in the OP post? Specifically for undergraduate positions, I'm currently a sophomore student.
basically everyone is beginning their processes late Oct/early Nov.. Apps will be out mid-Oct from what Im hearing
Is that just for BB's?
Currently open for SA 2018:
BMO Capital Markets (Toronto and Montreal)
Macquarie
Credit Suisse (Calgary)
RBC should open soon, along with the others as their information sessions begin/continue.
BMO Calgary is also open, thought I hear BMO is only doing OCR this season...
Anyone know when Canaccord's postings expected to go up?
Theyve been up for over a week at my school. Could vary by school though
Credit Suisse Toronto: First round interviews scheduled for next week (OCR)
All banks, with exception of RBC, have postings up at my school right now... GL everyone
Does this include CIBC and Scotia? Haven't seen anything from them anywhere
CIBC is up at my school. What school are u at?
Anyone here willing to do a resume critique to help a fellow Canadian secure his dream internship haha
Anyone else with a CPPIB offer considering the pros/cons of taking that versus traditional two years of i-banking?
Anyone hear back from Macquarie?
Na, my connect told me theyre gonna get back to people next week or the week after
yeah makes sense, thanks for the update
Lol, is queens already done recruiting?
I know most postings for the big 6 and some internationals close within the few days, but anyone know when they usually hand out interviews, and when interviews take place? Heard some say mid-November and heard others say early-November and also heard late October. Just wanted to get some clarification on this
Most apps at my school close around 23rd - 30th, which is when they get the bundle of applications. I've been told early November people start hearing back for first rounds and super days are mid to late November
I have an accelerated superday for BMO tomorrow. 2 fits, 1 tech.
What is the typical time in advance one receives prior to getting an interview? CIBC is suppose to start first week of November.. when should we expect to hear if we have received a interview or not?
Not sure.. I think it depends from bank to bank, but you should have a good feel at this point whether youll be getting an interview based off the networking youve done with that bank + your credentials
BAML Toronto first round invites are out. Best of luck
for all schools?
Only aware for my school. Received an email this morning
What about online applications?
Have any of the MM/boutiques opened applications yet?
Would like to know this as well
How would going with one of the pension funds (CDPQ/PSP) in PE versus going to one of the satellite offices (CIBC/TD Montreal) affect your career trajectory? I know comp is lower at start, but isn't your day to day way better? And wouldn't it be easier to transition to MF PE after a top MBA?
Eh if you've been selected for an interview at one of the banks for a location but applications are still open for a different location, is it wrong to apply?
I dont believe so.
Has anyone heard back from RBC or TD? I've put in quite a bit of effort networking at these two banks, so I'm hoping to receive first rounds.
They've completed accelerated with a few offers going out and 1 for sure accepted. Ive been told they will start to let people know early November with interviews mid to end of the month
Got a first round scheduled for this week at RBC
Thanks for the quick responses. @qzatti did you apply via OCR or RBC's jobpage?
1st rounds went our for BAML and CIBC toronto at my school today. Any insight onto how technical vs fit they are for these 2?
what school?
is your school a target/semi-target?
.
Anyone get tested in interviews on merger models/LBO's ?
RBC, TD and BMO have given summer offers out already for their accelerated processes. They're still interviewing but are on a rolling basis. Don't worry if you miss accelerated, there will also be a regular round of recruiting for TD and BMO, and I believe RBC also.
Source: Interned at 1 of the 3 banks and am going back ft next year, and know kids who have SA offers
still havent gotten interview offers from the big 5, am I fucked?
Depends school.. Like for my school only CIBC and BMO have extended interview offers for regular timeline. Assuming that all offers should be extended through the next week or 2
I'm in the same boat at UofT.
Also in the same boat at Wloo
LOL same
Anyone have any info on Wells Fargo toronto? Cant seem to find anything on the office :/
Any other updates on interviews from anyone?
National and Macquarie TO are both out - Non-core
Non-core?
What about Calgary?
.
just finished BMO first round
what school are you from?
curious what school you're from and how the first round was.
BMO is done sending out first rounds - HR
Anyone know what's going on with Barclays?
Apps bout to close in 30mins braa
I heard they hired for full-time analysts, but heard nothing about the SA positions.
Apps just closed at midnight so assuming through the end of next week they will have contacted everyone theyre interested in for SA
anyone hear back from corporate banking roles yet?
NBC first round out
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