Does anyone know if corporate banking at BMO is housed with their IB team? Additionally, does anyone know what their bonus percentage or salary is?
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Yes, CB is housed with the IB team. Don't know their bonus percentage. I have a friend as Associate in RBC - Global Credit team, he said his base in RBC is 70k - 80k. Not sure if this helps.
I'm almost certain your friend is not working for RBC capital markets. He must be in the commercial bank as anything under 6 figures for an associate is unheard of these days.
At another C5. A1 base of 90. I imagine yours is +-10
I was surprised by my friend's base as well. with 70k - 80k base as an associate at rbc. 1 yr analyst 90k base makes more sense. of course it depends on LOB
BMO CM Corporate Banking is housed within the IB. I have a friend over there who I think is a first year ASSOCIATE, and his base is $125k. Think he said his bonus is around 50%.
When I was still in corporate banking, i was making 80k + 45k as an analyst.
Similar to the comment above, I'd be 100% pissed if I were in CB as an associate making anything under 6-figures base as it's a to of work. Yes, culture is different from pure IB, but hours can easily hit IB hours in any given week when a live deal is in play.
EDIT: Edited comment to specify my friend is an associate, not an analyst
Is this USD or Canadian? If USD, that's really nice for a first year analyst in Corporate Banking.
USD. My friend at BMO is an associate. Sorry for the confusion, clarified this above.
I thought IB base pay is only 85-90k at most BB's? I assumed corporate banking would have the same salary if housed with IB but lower bonus compared to IB so 125k seems very high for first year analyst.
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