Canadian Banks Application Status

Post your application status with Canadian banks as you get updates.

Looks like they'll start first round interviews in the next few weeks.

92 Comments
 

at Schulich, so far lets see: - UBS and RBC IBD deadline for all offices/positions was yesterday - Think the rest of the CDN banks, Merrill, Morgan, Genuity, Goldman etc are due next week - Interviewed at 1 global office so far (early cause I'm on exchange)

Best of luck to you guys, this summer recruiting is going to be a slaughter

 

genuity i guess was standard depending on what you say...

He grilled me on everything I said...Whenever I answered questions he would be like "why do you answer so fast? Why are you so sure?" just to scare me, but i found out in the end all of my answers were right...

He ended up asking me about derivatives question for this i-banking interview WTF...obviously I can't remember black shcoles and put-call parity on top of my head when I practised ibanking stuff all day!

 

the vault guide is decent for the states because most of the target schools there are not business programs so they dont have that accounting/finance background. This obviously is not the case for Canada so the banks here are often a LOT more technical in interviews.

 

I just got email for CIBC ibanking for wednesday

but also CIBC ibanking pre-interview social tomorrow 5:30PM - 8:30 the BMO ibanking prescreening event is 6:00pm - 9

they're literally happening at the same time....

FUCK..which one would you guys choose?? I don't know what to say to them too...

 

Canadian here...go to pretty much a non-target. But I'm very impressed by how well UofT has been represented.

As for me, of the 30 places I applied, I only got call-backs for 2 interviews; 1 this week and the other next week.

Hopefully I'll do better with the boutiques.

Good luck everyone!

 

anyone else just get the CIBC s&t dinner invite? how can we go to 3 different dinners at the same time?

 

wasn't as rigorous as i expected. hardest question was about the market for asset backed commercial paper (i'm in engineering so i was a bit stumped here), other technical questions weren't hard at all and behavioural was more or less what you'd expect.

 

Sadly I only had the lowly RM/CB positions @ CIBC. They said feb 5th is when they're doing 2nd rounds, which seems pretty late.

 

Congrats to everyone in this post, esp. those worrying about schedule conflicts =P Currently working outside of Toronto, I'm lucky / unfortunate enough to have to do all my interviews over the phone while at work... (missed the CIBCWM 1st round call, and HR said it's almost impossible to reschedule, final rounds are happening on TUE.) Had RBCCM today, TDAM coming up tomorrow.

Just out of curiosity, if given the choice, would you rather choose to interview on the phone over in person?

Thanks & good luck, -R-

-R-
 

BSB doesn't work in the lab. Also, not sure how you can accumulate 4 semesters of calc when some of those programs are for 1 year only. You seem pretty bitter.. and I'd wager the MFin/MFE's who are in the IBanking interviews probably want to work in IBanking.

 
Best Response

Who is K Mak? I've never heard of that person before. Hmm...I may not know everything, but I definitely know that you think you know a lot more about me than you really do.

From your comment, I take it that you're also a MFE student in the same work search as everybody else.

The term "technical" is quite subjective, but: 1) The derivation of option-pricing is only valuable for S&T, programming, risk management positions, which are not my targets. I'm sorry, but four semesters of calculus, two in differential equations, and some probability and stats are not going to help AT ALL for Ibanking interviews. If ibanking is not your target, that’s good for you, but I know for a fact that ibanking is the target for MANY (if not, MOST) MBA/MFE students.

  1. The technical skills that I refer to, are those relevant to Ibanking/M&A interviews. Frankly speaking, I made my judgment on their weakness in this area because I met several MFE students who couldn't understand simple things like enterprise value or when to use WACC as opposed to cost of equity. Sure you can memorize the CAPM, DCF, SML, EV, dilution/acretion, accounting ratios over a weekend. But there's a lot of understanding that you must grasp beyond the equations to kill these interviews. From my experience, the analysts would probe and grill you in every direction regarding these concepts; NOT MATHEMATICALLY, but THEORETICALLY. IN ANOTHER WORDS, you will not be asked to DERIVE the god damn CAPM equation; but rather you must be able to explain why you use certain discount rates, when to choose 1 comp over another, and how to apply these types of concepts in different unique cases. Sure you might get those "brain-teaser" questions ONCE IN A WHILE, but I have yet to go to an interview where they ask math/probability/modeling related questions.

1 year of "math courses" and "option pricing" IMO would not be sufficient to build the same skills as investment banking-focused students who have prepared for these concepts for most of their time in University. Even those grad school students that had a BBA or BCom background, it doesn't mean they will have the same course knowledge. Most students from the MBA/MFE programs are either engineers, OR undergrads that didn't set their minds to ibanking until after graduation; i.e., they did not choose to take the rigorous amount of finance-specific courses during their study terms as opposed to those business undergrads that have their minds set already.

Lastly, I'm sorry if I offended you. I will refrain myself from these sensitive topics to avoid hurting your feelings again.

 

Frankly the courses in undergrad fall short of what you need if you want to excel in banking. From my experience at U of T, you really need to take an active interest in the subject and learn from your own resources. Given that, what BSB says seems reasonable.

EDIT: lol I saw what you wrote haha

 

If the point was just to let me see, you would have pmed me. I was assume MFE students would at least know how to use a forum. You obviously edited them afterwards (like the post above) so you dont embarass yourself to people with your ignorance.

 

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