FirePower Capital: Reputation in the Canadian IB/PE space
Does anyone in Canada have any insight on this firm, specifically the M&A Advisory side? Like deal flow, prestige, culture, and exit ops? They seem to be pretty unique as a boutique firm that has both an Advisory and Private Equity arm. I just can't find a lot of info on them on here.
they pay $600/month in salary to their summer interns.
full time analysts earn $60K base per year and variable bonus (well below standard IB % bonuses).
In your first round interview for a summer intern position expect to be forced to talk about deal metrics on a blue-chip M&A deal, synergies, and deal rationale, along with DFC walkthroughs on the fly over the phone.
Everyone is forced to do really gay linkedin posts and their leadership is a bunch of sales clowns. Growth in company is not structured, you'll be an analyst for 4+ years, and exit opps are minimal, as nobody wants to stay there for their shit pay so nobody wants to accept these people either.
lmfaoooooooooooooooooooooooooo @ anyone who works there
Good to know. I knew something was up when I saw from a quick Linkedin search that it's mostly non-target kids that end up there. Red flags galore.
Lol well it seems like pay has actually increased for their interns. It used to be unpaid…
dividing by 0 = infinity Y/Y comp increase, firepower is the most prestigious EB on the street :trololol:
know someone who went from firepower -> rbc ibd
Deal flow: do a few small M&A per year, have a boiler room of a 5-10 people who make outbound calls to SMEs to try and suggest a sale. Prestige is non-existent; they're behind even the MM commercial banking IB groups, nevermind the better independent players like Canaccord or Eight Capital. Culture is fine, not aggressive but perhaps a bit kool-aidy. They have a pretty crazy revolving door of juniors though. Exit opps are a funny one; they are disliked by a lot of the lower MM players but the larger players (such as RBC) don't ever come across them so they just see some independent advisory firm so probably look at them like a Big 4 advisory equivalent. In other words, it's not like lateralling to RBC from CIBC Capital Markets but you can exit somewhere better with being aggressive with networking. Comp used to be very low, maybe it changed.
To be clear, when you say "MM commercial banking IB groups", do you mean the mid-market M&A groups at big 5 banks like RBC that are housed within the P&CB division rather than the Capital Markets division?
That's right - plus you can use that platform to lateral to the same bank's IB group. If you're within the same bank as me, I'm much more likely to respond to a networking email that a random outside the company.
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Pay is going to be more than a $40k difference between the big 5 / 6 but yes, if your option is either Firepower or no job, then take it. If the option is between ER at a good shop, definitely take that though. People from Firepower have exited to RBC etc but would view that as more of the big companies not really knowing who Firepower is and just needing someone rather than any endorsement of their platform for exits. And I have personal knowledge of some of the exits you're talking about and can tell you that some of the managers of those people at the new places were not over the moon when they discovered where their skills were practically vs others in their class. Not a shot at those analysts who lateralled from FPC because the ones I know of managed to ramp up just fine in the end but more speaking to the fact that they weren't learning the necessary skills at their past job. Again, if no other options then take the job by all means, just wouldn't bank on a glorious exit but you can play the long game; exit somewhere better and then lateral again down the road to your RBC / CPPIB.
I mean you might not have all the data on those exits haha. They might just know someone high up etc etc
Not a good name.
name really says it all
bunch of sales guys who started a LLMM/SME M&A shop
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Like IB Analyst at Firepower that becomes an IB Associates at CI Financial? Lol
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One of the guys that used to work there was like 5'1". I heard one of the MDs asked him how tall he was at the interview.
IDK why you got MS but that's funny as hell and probably true.
Ya I dunno, must have been the manlet.
That kid was the biggest fag. He’s the one asking for deal metrics on first round phone interviews
I see him at bars sometimes alone (pre covid). Pretty depressing.
What position was he?
Bro the "Canadian IB/PE space" consists of like 60 people and a polar bear. Nobody here has insight on what's happening in that backwater tundra of yours with a GDP equivalent to some African ooga booga village.
Nobody cares so stfu?
Analyst 2 in commercial banking sprinting in to dispense his valuable opinions as always
60 people and a polar bear? Yeah, can't argue with that one.
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