BMO to start career
Is BMO a good place to start career as an investment banking analyst/summer analyst?
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not a great option but depends what else you have on the table
i got other offers from cantor fitzgerald, wells fargo, and raymond james but decided to accept bmo because it was the only one in nyc office
group dependent (and maybe unpopular opinion) but those firms are roughly equal in terms of name value. think starting in nyc is the right idea, both for your career + life in your early 20’s
Then it’s fine. In my experience it’s tough to move to nyc. Tbf I moved from a tier F city when breaking into the industry and not Chicago or SF.
Would echo the above - what are you comparing it to?
how would you compare it to other balance sheet banks such as wells fargo, hsbc, mizuho, nomura, and santander + mm firms such as solomon partners, baird, stifel, bglco, blair, raymond james, etc.
in the US it's below those independent MM advisors like Baird Blair Piper RJ Cowen Solomon etc. Would say it's above Mizuho / Nomura / Santander though. A good choice if this is canada office
or like db
Just heard really toxic things about them.
Just M&M or other groups as well?
Oh I’m talking about teams outside of Canada too. Seems like the bank just doesn’t have a good reputation.
Same - I heard they don’t even treat their interns well. Several of my friends got made fun of on their teams across NYC and Chicago and were publicly humiliated for making mistakes instead of being told in private how to correct them.
Same - I heard they don’t even treat their interns well. Several of my friends got made fun of on their teams across NYC and Chicago and were publicly humiliated for making mistakes instead of being told in private how to correct them.
Same - I heard they don’t even treat their interns well. Several of my friends got made fun of on their teams across NYC and Chicago and were publicly humiliated for making mistakes instead of being told in private how to correct them.
Their metals and mining group is strong
Thanks intern
Decent bank. Experience will depend on office. The best team is of course the metals and mining group in Toronto but you will get crushed there. They have a big Chicago presence but I’ve generally heard culture is fairly toxic but I’m sure it varies by team. I have friends in the NY office that seek content, not happy but think it’s fine. Their bonuses have been decent compared to most balance sheet heavy banks. I work at a BB and all my friends at bmo did a bit better than I did the last 2 years. Overall decent experience but there are better banks for sure, even in the MM. rumor is bmo is still looking to acquire a boutique bank to improve their rep. I heard they looked hard at Cowan and GH before they were acquired.
how are the exits?
I started my career at BMO and looking back, it was a a huge boost to my career because they work you so hard doing nonsense pitches and random thought pieces that every bulge bracket would outsource that you learn what resources are out there and how to leverage content and think about what the client would actually want.
I lateraled pretty quickly, along with most of the people in my class. It sucks lateralling, but BMO has a great training program (or lack of) and everyone who lateraled ended up at the top of their classes at their new firms.
would you say it was easy to lateral after a year?
Yes, I was able to get interviews and offers across the street
bump
MM and diversified teams are quite strong. Some of the best in MM but horrendous culture and hours. They were one of the Big 6 banks that got in early on the cannabis boom. Not the greatest place but it’s all relative.
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