i.e. Goldman Sachs Toronto office, would summer interns/analysts be paid at street level? Also would this be in USD or CAD? With how strong the US dollar is currently comparative to the CAD, that would make compensation working for a US BB significantly higher than a big 5 in Canada.
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Probably not, since the main reason for having these offices is to cut costs because employees can live off of less. I do know that this is what they do for their SLC office at least. Not too sure about Toronto.
Edit: Judging by the MS, I guess I'm completely wrong. Disregard
Incoming Analyst at a regional office in the U.S. I will be getting the same salary base as guys in New York. I have no idea about year end bonuses however.
Canada is special because senior bankers at US banks (not sure if started at associate or VP level) used to be paid in USD so in the early / Mid when the C$ was a like $0.60, they adjusted analyst salaries so that the salary in CDN would match the USD. When I was an analyst (late 2000s, early 2010s), base across the street was 65K for CDN banks and ~95K for US. Obviously base have risen since so not sure how accurate those figures are, but the gap was pretty significant.
Interesting, appreciate the insight!
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