Colour on Canadian B5 Global Transaction Banking
Have heard that CIBC & TD have the strongest salaries, Scotia lacking but not sure where BMO and RBC place, would also like to know thoughts on a sustainable career within GTB or any other MO capital markets function (like global credit)
Typical Canadian finance student obsessed with first year salary. probably a rotman goblin. Take a breath and touch some grass, TB in any bank is paradise
2nd year analyst in CB here, GTB is front office and the pay is pretty solid, some of my friends got paid similar to me but I don’t know how pay progresses as you become more senior, but it should be solid given you become more sales focused. Global credit at RBC kinda blows lmao analysts get paid 75k base and all in is lowkey less than what GTB or CB bases are. Good career if you wanna build credit skills but you’ll be paid like shit and most prob see it as a stepping stone to FO
Are you familiar with coverage in other banks?
I can echo this sentiment as a vp in a Canadian TB front-office team. I don't think we are paid quite as well as traditional CB coverage but it's fairly close. Salaries are in line with the given banks CB team.
Bonuses in my experience have been 15-30% at the analyst level, 30-50% at the associate level, and 60-100% at the VP level. Director and above I am not too sure but likely similar to CB.
TB does pretty well all things considered. Certainly far, far worse seats out there
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