Hi - Curious if anyone knows what boutiques like Cannacord, Stifel, Cormark, SCP, etc. pay on base? Big banks pay 90-100 k so curious what is the base for reputable boutiques?
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Ah, diving into the jungle of boutique investment banking compensation, are we? Let's swing through the vines of information available in our WSO habitat to find some tasty bananas of knowledge for you.
Based on the most helpful WSO content, when it comes to boutiques, the terrain can vary widely. The base salary at boutique investment banks can range quite a bit. For instance, a Senior Orangutan from the forums mentioned that base salaries can range from as low as $40,000 to as high as $80,000 depending on the shop. This variance is due to the differences in deal flow, types of transactions, and the overall establishment level of the boutique. A younger boutique might pay less than a more established one.
However, it's important to note that this information doesn't specifically mention Cannacord, Stifel, Cormark, or SCP, but it gives a general idea of the landscape. The big banks, as you mentioned, tend to offer base salaries in the range of $90,000 to $100,000, which is on the higher end compared to many boutiques.
Remember, bonuses at boutiques can also be a significant part of the compensation, heavily dependent on deal flow. In good years, bonuses can be quite substantial, adding a hefty chunk to the total compensation.
For the most accurate figures, especially for specific firms like Cannacord, Stifel, Cormark, and SCP, it's always a good idea to check the latest discussions on the WSO forums or reach out directly to professionals in the industry. The jungle of investment banking is always evolving, and the freshest fruits of knowledge might just be hanging in a new thread or conversation.
Sources: Toronto - Boutique Investment Banking Compensation, Canadian Boutiques: Compensation, David and Goliath: The Boutique and The Bulge Bracket, What are the top/most prestigious smaller boutiques/kiosks?
Broad strokes here but believe Canaccord is a touch above B5s, and the other boutiques you mentioned are slightly less/on par with B5s.
How
Maybe top 5 outside of B6 + US satellites? Canaccord first by a long shot. Cormark probably on par with the Stifels of the street, but not at the level of a Birch Hill (in my opinion)
I hear Cormark is arguably right below BMO and CG when it comes to mining and punches above its weight for mining and is miles above other boutiques like Eight Capital, PI, Sprott, etc ?? What do you think when it comes to mining?
I think what you need to understand here is that Canada is basically the back-office of America. To answer your question, in terms of prestige it would go:
1) Stifel (an American bank)
Massive gap
2) BMO / RBC / TD / Scotia / Cormark / SCP / Cannacord
All Canadian banks are lumped together in the amateur league category typically, from a genuine Wall Street (U.S.) perspective. Now I understand in Saksatoon or whatever there might be a perceived slight difference between like a Cormark versus a BMO but from a BB or EB perspective there is really no difference beteween the two.
Congrats on Stifel
LMFAO at stifel above the big five. It’s one of the worst MM’s in the US.
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