Advice on becoming an Analyst in a Canadian Big 5 Firm?
A little bit about me: I'm currently going into my last year at Schulich and I currently have a 7.5/9 GPA (3.3 - 3.4 or a 3.55 when converted using the Canadian GPA conversion scale).
I'm currently attempting to get a job as an analyst or any decent job at a Big 5 bank and I don't really have any great ideas on how to get about that.
During the first three years of my undergrad, I didn't focus too much on the networking and clubs aspect of school and I'm currently finding myself in a rut regarding what I should do after graduation.
A few other points about me. I have interned in a medium sized (100M sales) firm as a junior accountant and a software developer for two summers and I have recently passed the CFA level 1 exam.
Any tips or advice on getting to where I want to be?
What kind of analyst position are you looking for? Sorry to be blunt, but a "decent job" is likely too ambitious for your background/resume... maybe start at a mutual fund instead? Or take a non-analyst position at a bank.
Canadian banks will usually want a 7.8+/9 on your scale. If you want a career in finance, your best bet would be to go into accounting and see if you can transfer from there. I hear your school is quite good for accounting.
Even though all posts above are correct, I would personally say you still have a good shot. The only way I would play this would be to try and get an internship, rather than a FT spot. Also, the chances of landing something in the Big 5 may be difficult (unless you can master your technical and behavioral interviews) and apply to other offices like Vancouver, Calgary, Montreal, maybe Toronto.
That being said, I would take a different approach if I was in your shoes -- I would be reaching out to MM boutiques in Toronto for an internship first (a lot of these are unpaid but it's a good 4-month investment if you want to break into the bigger shops). I know a few boutiques that would be willing to interview you for sure, so you can PM me and I can give you some names that you can reach out to via Linkedin.
From what I know, it is illegal to have someone intern for any business without paying them in Ontario (shadowing is a different story). I'm always upset when I see no-name PE firms in Toronto posting unpaid internships, b/c I know kids looking for a shot are applying by the 100s.
Yeah you're right, but what difference does it make? I have friends and know people that have taken unpaid internships to break into the industry.
Hey, can't PM anyone yet. Just made this account. Would there be a chance to take get a decent front or middle office job paying about 50-60k with my current credentials without having to do an internship?
Yes you have a decent chance at that. You essentially have two options at the moment if you want to break in to the industry. You either take a middle/back office job and transfer to front office or you do accounting and make the switch sometime down the road. I hear big 4 accounting pays 50-60 out of undergrad.
In Toronto it's has been 45K historically. Heard it's going to drop in the future (unconfirmed though).
Expedita quibusdam rerum nihil animi. Maxime consequatur maiores velit esse.
Consectetur enim magnam nisi omnis tempore quo est tempora. Molestias aut necessitatibus nobis quo est velit reiciendis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...