Exit Opps In Toronto

Retirement is an option...especially since Toronto analysts make a ton.

based on cost of living, you'll make a ton more in toronto. exit ops are could, expecially with a big 6, and even more so if its RBC

Yea I figured RBC would probably leave one with the most options..........

any idea on what specific exit opps are out there though? Even though the Big 6 would be great experience, I'm not sure if it would be enough to cut me into a firm like Onex......I know there are a couple other players on the scene like Borealis, OMERS, etc......but what do you typically find alot of analysts doing after 2 yrs?

Thanks again

If you go onto the PE firm's websites, you can usually get a profile of the employees. Many ibankers move into PE/buyside firms, hedge funds, pension funds, etc. I think most/all the Canadian majors also have their own merchant banking, PE, venture capital, and mezzanine division. If you look up the profiles, the majority of the PE analysts have ibanking experience. Oncap Partners, for example, actually takes co-op and summer students and will occasionally hire straight from undergrad.

Thanks for the insight......yea I definitely agree that ONEX guys have that special pedigree....

what do you think an analyst just starting out at a Big 6 should do to really stand out from the pack? Lets say you perform well after 2 years and get your CFA - is there anything else in addition to this that would help someone to break in?

ie. becoming part of the CVCA.....maybe they would be receptive to some networking, etc.?

Thanks

Onex is a great shop. The guy from GS who I know that is now there was an absolutely insane analyst.

I haven't started my analyst program yet, though I will this July - currently still at school in Canada. So I can't give you first-hand experience - sorry. Just the same, I've thought about 'standing out from the pack' when I start six months hence and I've spoken to friends in the industry. Here's what I gather from them:

At the Analyst level your biggest asset is your stamina. That, and attention to detail. You don't want your associates and VP's dishing out inaccurate numbers to the client. Brains, aptitude, interest, and general market acumen def. matter as well, although from what I understand its less so at a BB than at a Boutique. So I suppose, be privy to market occurrences through the WSJ, Morning Star etc.. in case you're prompted for your opinion you will have something remotely intelligent to say.

Networking, as far as I see, can get you anywhere and everywhere. M&A is soft on the finance and 2 years at a BB or Big 6 will ensure that your modeling skills are at the very least strong. So, from what I hear, its important, you need to be good, but everyone with a 2 year stint usually is. I think appearances, market knowledge, innovativeness, interpersonal skills that help generate social capital is a lot more important than many realize.

Again, this is my novice reading of i-banking success factors, but it has been corroborated by people in the industry. If any more experienced people can expound, please do!

Just to add to the Onex comments, most of their bankers are former US BB analysts from M&A and leveraged finance groups. If you really want to get into a solid PE firm like Onex, kill the analyst program at RBC M&A or CIBC M&A, and lateral to a NYC BB M&A/LevFin group as a third year analyst.

yea I think that may be the route I'll have to take........any idea on what the comp at Onex would be like for a 1st yr analyst?

As well, would it be relatively easy to get into a US BB after having done RBC or CIBC M&A? and what about the other members of the Big 6?

Thanks alot.

comp at onex is just like any top tier PE shop. They don't adjust for cost of living or anything.