Canadian Banker Career Path?
Hey everyone I just had a question about banking in Toronto because I hear it's a bit different from what you'd see in NYC.
From what I've gathered from reading these forums, almost everyone in NYC is all about getting exit ops into PE or HF but from what I hear in Canada much less people go into PE and rather stay in investment banking.
My question is, are there any Canadian bankers on this site that can tell me what the career path for a banker in Toronto looks like? From what I hear if IB is up or out wouldn't that mean that the careers of many bankers are short since only a select amount of people make it to MD. Also, after you get to MD level, do most Canadian banks let you stay as long as you're pulling your weight or do they have a certain length of time until they're asked to leave like some places in the States. Can someone stay as a VP for a while without getting fired for not moving up?
Thanks very much
I think in Canada people stay in banking for multiple reasons:
There are only a bunch of huge PE shops (CPPIB, OTPP, OMERS, ONEX) The working hours are not as long as US if you move up in a bank, so more people stay in banking compare to US
That being said, PE/HF are not the only options, people go to corporate dev roles, tech start-ups and ...
I know the reason for not going into exit ops and my plan is to also stay in banking. I just had some questions regarding how career bankers worked
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