BMO Mining
Anyone heard how the BMO mining team is these days? Had a friend that worked there a few years ago and knew those guys worked harder than anyone, wondering if it’s still the same
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It is the toughest group at a Canadian bank that has by a considerable margin, the most toxic culture of the big 6, so take that how you will. You'll work on marquee transactions, though.
Having known a few people that went through the group, really want to highlight the toxic culture. Unless you are absolutely passionate about mining and want to make it your career, I would look at other options.
I can second this. Also exacerbated by them dropping a portion of natural resources
Big 6 huh, so you work at National Bank?
Cute. I actually work at RBC but unlike you, probably don't touch myself to my bank's relative ranking on bay street.
Looks like you got a little too defensive over a joke. Are you sure you don't work at National?
Nothing to add to this convo other than saying that I really hate people like you. Makes WSO toxic for no reason (replying to “Analyst 1”)
lol
Also replying to Analyst 1 (different commenter than the other analyst):
Literally imagine having nothing better to do with your life as a first year analyst than to attempt to talk shit to a VP, who is just trying to sincerely help a prospect, about a bank they don't even work at.
You are truly a sad, pathetic individual.
Definitely a grind, but people used to say it was worth it because it was a top group with above average comp. Their brand and reputation within mining has taken a hit and some of the other major Canadian banks have taken market share away from BMO. Can't comment on comp.
Have also heard that they have tried to improve the culture but no idea as to whether anything has improved. BMO IB will work you to the bone and the culture firmwide is pretty bad so would avoid if you can.
Above average comp? What does that even mean? Imo seems like a way for those bankers to seem acceptable, but comp is deferred and your taxed a ton anyways
I.e. difference between 200K and 220K is not worth 10 more hours of work
.
hi anyone have insight into their corporate banking mining team - is it just as bad as the M&A/coverage group (toronto)?
Avoid this toxic sweatshop at all costs. Worst culture anywhere in Canada worse than even RBC Calgary and CIBC P&U.
does the same go for their corporate banking metals and mining team?
Nowhere as bad as IB but still sweatier than most CB groups. Culture is so so.
I’ve worked with ex-BMO guys and know a few mining guys. Avoid it at all costs. Even if you want to make a name in Mining (one of, if not the strongest sectors in Canadian Corp Finance from a career perspective) there are less horrible ways to do it.
I’d hire them but I wouldn’t want to work for / with them.
BMO Metals & Mining is one of the best IB groups in Canada and the best mining group in the world. But the culture there is horrendous. Constant 100 hour work weeks, crazy seniors, even some of the associates are toxic. A handful of analysts left within 6 months of joining (some of them without having a job lined up).
If you're passionate about mining and are willing to be abused for 2 years (and be compensated well for it), I'd take the offer, otherwise steer clear. The former analysts I knew were generally smart, hardworking and good guys and came out of the group with a strong skill set and the ability to be grinded
What about their corporate banking mining group?
it's the corporate banking version of their mining group. so take everything and haircut it by 20% or so. it's definitely more tolerable than their IB group but also worse than other CB groups in terms of culture.
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