A friend of mine who's worked at the big 5 IBD told me a 3rd year associate gets paid CAD300k base pre-tax. Is that about right (sounds a bit high to me)?
Any idea about the typical bonus range? Are comps in Canada the "high base/low bonus" structure or "low base/high bonus" like those in some parts of the world?
Interested in this too.
bump! wow if 300k base is true, that's realllyyy goood. Anyone have insights
Your friend lied to you, base at CDN banks are actually very low so comp is very much low base / high bonus (much more so than anywhere else in the world). For associates, base is about $100K with total comp starting at ~$200K for first year associates moving toward $300-$350K for an A3. I would bet anything the figure you friend told you is for total comp.
The only possible way thats true is if your friend recently lateralled from a US BB and negotiated a FX adjusted equivalent base (US$200k base for third years in US). I really doubt it though, that sounds like an all-in number.
A 3rd year IB Associate at one of the 5 Canadians makes anywhere from mid-high 200 to low 300 all in, depending on the bucket they are in.
How does this compare to consulting in Canada? Talking roughly same levels - 1-3 years post MBA. Also, are salaries dramatically different between Toronto / Calgary / Montreal (both IBD and consulting)?
Consultants get paid ~$150K out of MBA (Bain was ~$15K lower than McK and BCG 2 years ago, but I would assume they closed the gap) + small bonus. Salary progression at MBB is much slower than in banking so the gap then widens as you move up. For both banking and consulting, salaries and bonuses are exactly the same across Canada (but obviously Toronto has more opportunities, especially when it comes to banking).
Magnam dignissimos vitae aperiam enim sequi magni ut. Veniam voluptas debitis accusamus numquam.
Quos qui provident quo deleniti. Possimus quia repellendus autem pariatur quia voluptatem assumenda. Quo quibusdam ducimus facere. Inventore in corrupti nulla expedita deserunt odit laborum ut. Suscipit hic assumenda recusandae amet aut et.
Minus dolor ullam quia quasi deserunt velit. Voluptatem molestiae quia veniam mollitia id unde. Aut soluta qui et sint. Pariatur magni non distinctio quasi.
Optio deleniti quos id culpa. Sed fugit alias recusandae deserunt minus iure. Nihil et dolorem magni voluptatem non.
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...