Hey guys,
Just wanted to get your opinion. What makes more sense in long run?
Currently working in Elite Boutique in Mumbai vs a prospective career move to Toronto.
I am concerned about the comps in Canada. Heard they are too low for IB as compared to NY or Lon.
What I have heard:
Analyst level: CAD65,00 + 30% Bonus?
Associate level: CAD85,000 + 30% Bonus? Is it true?
All related facts and opinions are welcome.
| +95 | [2026 - October] Unbiased Prestige Rankings | 60 | 9m |
| +88 | Who is the final boss in Houston Energy? (GS, JEFF or EVR) | 23 | 5h |
| +81 | You should probably leave IB | 28 | 17m |
| +46 | Why Do We Turn Comments? | 11 | 2h |
| +43 | Tomorrow Will Be Better | 5 | 4d |
| +41 | Moelis PCA vs Lower tier BB Coverage | 30 | 1d |
| +32 | Banking (Un)fortunately Still Needs You: My Case for Bankers in the AI Era | 6 | 2h |
| +27 | UBS IB #24 in US M&A in 2026 | 10 | 20h |
| +27 | Girl Rejects me because of my Bank | 6 | 22m |
| +26 | Lateraling as Analyst | 25 | 1h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I have a family friend at the Associate2 level and I can tell you he makes much more than that. Regardless the pay in Canada should be better than India?
Yes ideally pay should be higher in Canada. But I am more thinking on the line of purchasing power parity adjustments. I think 100,000 Candian dollars would be equal to somewhat 20 lakhs INR or CAD40,000 in India or so? Now 100,000 doesn't seems much in comparison. Am I missing something?
Well Associate Base and Bonus is higher than the numbers that you stated
India is an L in general. Canada 🇨🇦
Canadian BB pay is the same as the U.S, but you earn CAD which reduces your purchasing power. Can't comment on EB's in Canada but I expect it'd be significantly less than the U.S. All-in expect around $130K as a first-year IB analyst in Canada
That is what baffles me. CAD 130K seems no where to Indian BB pay ( CAD 200K, adjusting to PPP )
Thanks anyways !
You'll have to tell that to our first year analysts who cleared 150k in a crap year. And EB pays exactly the same in Canada as they do in the US, just in CAD (but some may pay in USD as well)
I personally would stick it out in India (but that's just me). See you can go to the West and make more money and that will be fine, but India is an emerging market. I would prefer to be there and be a part of its emergence in IB as well.
Yep, that's the dilemma. Agree with you but M&A space in India is not growing from a long time ( except mid-market tech).
U.S is no brainer IMO but considering relatively low pay in Canada is a little worrying, if it is worth the struggle honestly :)
I would also keep other factors in mind. My father came to the US for work and I was raised here. My experience was fine because I grew up in an environment with a good blend of Indian heritage and culture and also American culture. It shaped me and made me unique. For my father and mother however, it was always tougher. When they first came here it was the worst. It was just a few years after 9/11, so the timing wasn’t good. Being an immigrant can be hard (even in Canada), so just keep that in mind.
Wrong. Analyst bases at EB's in Toronto fall in either two camps of being CAD or USD currency based. Greenhill = $90-95K CAD base for analyst + 60-100% bonus, Lazard / Evercore:$85K-$95K USD and associates are clearing 120k+ in base with all-in substantially higher (200k+).
not even close. Analysts make 150-210k+, Associates 250-350k+ all in.
Could I DM you? Would appreciate some clarity on Canadian IB associate bonus figures and bonus structure
How much are you getting paid in India? And are you an IIM graduate? Reason I am asking is because I am working in IB in US and actually want to move back to India.
Can you DM me? Might have some insights. I can't DM you, cause of anonymity.
This is just my opinion, but I feel like for such a big shift the decision should be more if you want to move to Canada in general
Cum est dolor ullam perspiciatis in quia. Aliquam non nemo recusandae et. Quisquam vel sint temporibus inventore molestiae maxime. Molestiae aut et laboriosam et sit qui labore. Qui eaque vel fugit deleniti omnis aut occaecati. Unde impedit alias cumque assumenda est id.
Quis illum eius consectetur in. Sint delectus repellat distinctio neque est corporis nihil ratione.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...