Canadian IB Landscape
Liberal mess similar to their government. While women represent about 25% of elected officials, they make up nearly 50% of the federal cabinet. In the U.S., leading firms like Tesla and Microsoft are eliminating DEI teams, yet Canadian banking executives are prioritizing gender quotas in hiring and promotions, disregarding merit, all to safeguard their bonuses. No kidding productivity is at a historical low. Keep it up and focus on virtue signalling, and you will fall behind even developing countries like India.
The idea that figures like Chrystia Freeland, Lisa Raitt, and Rona Ambrose—regardless of their political affiliations—could stand up to the Trump administration, let alone the Chinese government, is pure delusion. Compare this with KKR employing General (R) David H. Petraeus, a former 4-star general and CIA director.
This is why you don’t fight it and you just get the fuck out. You stop getting mad about the news and you decide to leave calmly. No Pierre Polliviere isn’t going to fix this or the person afterwards - we are too far gone. The solution is you don’t get mad you just leave and go to the US and appreciate how they don’t have none of this bs besides select few states that you avoid. You move to a conservative state and adapt to their culture. That’s the only way.
Which conservative state would that be that has a thriving IB scene? Two of the three biggest states by GDP are not conservative and are way better to live than Houston although the low taxes are nice.
Charlotte North Carolina‘s financial sector is probably stronger than all of Canada for IB. You also don’t have to work in Houston by the way, you can work in Dallas or Austin. Atlanta, Georgia also has a strong financial sector. Virginia is pretty good too.
I don't know what you mean by stronger - you could get paid more potentially and have a better lifestyle, sure. North Carolina absolutely does not have more IB activity than all of Canada, that's provably false. I'm not out here debating that you couldn't have a better career outside Canada even in smaller US cities but 'move to a conservative state and adapt to their culture' makes it seems like your number one career priority is political assimilation - I guess I've been in NYC enough where political affiliation is incidental to my career trajectory, but do your thing.
While it may not seem obvious on paper, there are nuances to consider. One that many would argue is the breadth of opportunities and sectoral diversity in the U.S. cannot be overstated. Canada’s investment banking activity is largely concentrated on Mining & Metals, Renewables, and Oil & Gas, which, while important, limits exposure to other innovative or high-growth sectors. In contrast, cities like Charlotte and Atlanta provide access to industries such as technology, healthcare, consumer goods, and financial services, creating more dynamic and varied career paths (obviously not including Texas here as they mainly focus on energy). For example, bankers in these locations can gain exposure to industries beyond Canada’s traditional focus, unlocking unique opportunities for specialization and development that aren’t as readily available in Toronto or other Canadian cities.
As you already know, many banks in these U.S. locations act as satellite offices for their New York counterparts, which means bankers still gain exposure to a breadth of deal flow that directly intersects with NYC’s transactions. This interconnectedness ensures that even in cities like Charlotte, you’re regularly involved in marquee transactions while benefiting from a lower cost of living, with compensation often aligned to NYC salaries. These offices are not isolated regional hubs but are extensions of NYC operations, which allows bankers to seamlessly collaborate on significant deals without being confined to a regional focus.
Additionally, the U.S. offers far more banks and opportunities compared to Canada, where bankers are effectively pigeonholed into Toronto. Vancouver’s IB scene is small and sector-specific, Alberta is dominated by Oil & Gas, and Montreal typically requires bilingualism, making it inaccessible to many. The sheer scale of the U.S. financial sector fosters a consistent pipeline of deal flow across regional offices, driven by the economic strength of states like North Carolina and Georgia. So yes, on paper, it might seem like a city like Charlotte or Atlanta doesn’t have a financial sector stronger than all of Canada. But when you account for the depth of opportunities, sectoral diversity, and direct integration with NYC’s deal flow, these cities offer significantly more potential for long-term career growth and development than Canadian cities. You’re not just tied to a regional perspective—you’re part of a larger U.S. financial network that provides access to a stronger and more dynamic market, with the flexibility to transition seamlessly into other regions or industries as your career progresses.
lol I'm not reading a dissertation on Thanksgiving, least of all when I already said that you can have a better career in US Tier II / III cities than Canada, but best of luck on snagging a Pulitzer for the effort.
Montreal doesn’t require bilingualism. Just French
Wasn't it always like this? I think the current down market made things worse but this isn't a new problem based on conversations I had with people who started in this industry in the past 2 decades
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