I'll be working as a SA at one of the canadian banks (rbc, td, cibc) in Toronto for the upcoming summer and was wondering how I can position myself to get a job in NY for full time.
I'm pretty sure there will be almost no job postings for positions in NY at my school for the upcoming year, so what am I supposed to do exactly to get an offer for IB in NY for full time?
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I guess I also have a similar question but from a regional US BB (SF/Chicago/Houston) to NY.
It'll help if your working at RBC/CIBC as opposed to the others
I'd say it's pretty difficult if they don't recruit at your school. I mean your only option at that point would be to apply online via their website, which gives you a very slim chance of even landing an interview. You'd have to network with alumni and find an interview some other way.
what school do you go to? If like you said there are no job postings you probably go to a second tier school in Canada i.e. not Ivey, Queens, or McGill. In that case your chances are practically non-existent to be realistic given that you are coming out of a canadian bank as well. Unless you network frantically, take a trip to NY and talk to as many people. I would try to get the FT offer if I were you, work in Toronto, then try the transition. If you add value you may be able to transition within (rbc, cibc, or watever)in their NY offices and switch again from there.
How about working for a US BB's office in Toronto for a year or two and then switching over to NY?
Not sure which school you go to, but getting into one of those isn't exactly an easy feat either. I know US BB's were especially brutal in their Toronto recruiting this year. Most only took 1 analyst (total from all schools).
a top 10 US business school is another option.
What about transitioning from SA in Toronto to FT in NY if you're coming from a top American target? I summered last year in T.O. (as a soph) and am returning this year but would rather work at my bank's NY office for full-time. My GPA is shit so I don't think I'd stand a good chance in formal FT recruiting.
Moving into NY ibanking from Canada (long) (Originally Posted: 02/06/2008)
b
_
duplicated...
Agree with niles,
the best way to break into BB IB would be through business schools since you have not had any luck so far. I think the reason you did not get any response is that you have been in the industry too long that they don't know where to place you. Another suggestion is to try to find opportunities through headhunters.
Doesn't GS recruit from UBC, so I wonder why you cannot find any alumni from BB?
I agree that bschool would save you a few years, and some misery. Your stats seem good enough, just need to work on the GMAT.
Hum, not quite the feedback I expected, but I guess I should look into it. The problem now I face is that a lot of the application deadlines have passed and we're now looking into round 3 admissions which don't accept many people.
Niles, by top 5, did you mean HBS, Standford, Wharton, Chicago, Kellogg?
I did some quick research into the application deadlines and there's no way I could do Feb 28 and the 22 for Wharton and Kellogg.
Are there other schools that I should be considering? My end goal is only to work in IB in BB in NY.
UBC has a lot of high profile alumni. I know of a couple of guys working at GS in NY in their S&T department who did undergrad math at UBC.
NY from Canada (Originally Posted: 02/03/2007)
Hey guys,
How difficult is it to jump to a NY BB from a Canadian bank? More specifically after doing an internship at a Canadian bank.
...if it was an RBC or CIBC, you'd have a good shot.
people have told me in Canada all the banks are the same really. I know the league tables say differently but thats just what ive been told, things vary from year to year and banking experience is banking experience regardless of where you are
RBC and CIBC are far aheady of the rest of the Cdn banks
banker: Can you justify why RBC and CIBC are "far ahead" of other Canadian banks (namely TDS and Scotia Cap)?
Although I'm a Canuck, I don't work for a Canadian bank. I'm just interested to hear your reasoning.
What kind of back-up do you want if not league tables or general opinions?
Every year, RBC and CIBC are no.1 or no.2 in 1) equity underwriting, 2) all financings, 3) Canadian M&A. Pretty well no exceptions.
Having said that, if you worked at other Canada-centric organizations such as Scotia, BMO, TD, National Bank, Genuity, GMP for the summer and wanted to go to NY, then you'll be fine.
If you work at Wellington West or some other lesser known boutique, then it may be a little more difficult but not impossible. The U.S. banks like Canadians generally.
I heard as much. Although I'm from a non-target for the NY firms. All the Canadian banks recruit from my school and a few of the Canadian branches of the American firms, but no one from NY directly.
How about people transfering from a top canadian bank to a global bank in ny/london during the analyst stint ... any precedents?
.
People have done it, but you will often lose a year of experience. E.x. transfer after your first year and restart at a BB in NYC/UK.
bump
Difficulty of transferring from Toronto to NY? (Originally Posted: 09/23/2016)
Hello guys,
I am just a senior in highs school in Ontario, Canada and I was wondering how difficult is it to transfer to NY BB or EB after doing your 2 year analyst gig at CIBC or a BMO type of bank.
Thanks for any answers!
Maybe TorontoMonkey1328 can provide some colour on transitioning from Toronto to NY.
In the meantime, check out http://www.wallstreetoasis.com/forums/coming-to-america-a-canadian-in-n….
Thanks for the link, much appreciated.
To be completely honest, it's not impossible, but it is easier to go to a US school for several reasons: US schools have more cachet (there are no "target" Canadian schools... Ivey would probably be the best). Being physically here is tremendous for networking. From a visa standpoint once you graduate you can use the F visa which allows you to stay for 18 months (I think).
Getting work experience in Canada is not a bad route either, but definitely less direct. If you work at a large Canadian bank, the experience is valuable and you will get attention from HH and recruiters, but you will have other issues (US Caliber vs. Canadian, TN visas --> H-1B, physical networking) etc.
Here are some of my posts which have more details. Feel free to ask questions:
My story: http://www.wallstreetoasis.com/forums/coming-to-america-a-canadian-in-n…
Barriers and how to overcome them: http://www.wallstreetoasis.com/forums/ibd-barriers-to-entry-for-canadia…
TN Visa: http://www.wallstreetoasis.com/forums/tn-1-visa-for-canadians-academic-…
Hope this helps.
@TorontoMonkey1328 Thank you so much for your reply. Currently I'm attending a school in Richmond Hill (IB Program) and my average is only 93, so I doubt I have any chance what so ever of getting into the Ivys or NYU Stern. I'm currently going to try to get into either Queens or Ivey in Western University. Thanks anyways.
Can confirm, if you want to work in the states, you have the most opportunities at Ivey, amongst the other Canadian universities
Source: Declined my Ivey offer and I have a lot of friends there
Toronto -> NY, Career Lateral, Iffy grades (Originally Posted: 12/09/2016)
Sorry to package 3 different issues into the same post, but I'm in a unique spot.
I'm a trading analyst with 1.5 years xp at a top Canadian bank. Everyone's getting fucked on bonuses around where I work, and the forward guidance in the long term is quite negative. My job is not necessary, I just cover people as backup.
I want to lateral into investment banking, ideally directly to NYC (for that 30% fx bump). I had the opportunity to recruit while still in school, but didn't as I wanted to give trading a go. I really do want to switch careers for all the reasons people on here typically go for it. (I also have 0 issue working long hours, I work 60-70 per week currently and feel pretty relaxed).
While my later marks were top notch (ie top 5% in third and fourth year), I had really shitty first year course marks in math and econ ( ie F's). Also worried about Visa's... that's another headache to deal with. Econ and business degrees.
On the good news, I have a decent network of colleague analysts at different banks, but no idea how the lateral recruiting process works.
Any advice or comments are appreciated.
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