Going from NYC to Toronto IB/PE?
I currently work as an AN1 in a DCM/ECM/PubFi/Securitization type role in NYC at a BB (Barc/JPM/Citi) where my bank is a top player in the space I work in.
How realistic is it to move to Toronto after AN1 and land a role in an adjacent or maybe even exit to buyside? Would there be any paybump compared to my peers and is NYC experience seem favorably by Toronto firms?
Can save any comments about how it isn’t worth it, this is more of a family health issue.
Based on the most helpful WSO content, transitioning from NYC to Toronto in IB or PE is realistic, especially given your experience at a top BB in a specialized role like DCM/ECM/PubFi/Securitization. Here are some key insights:
NYC Experience Perception in Toronto: NYC experience is generally viewed favorably by Toronto firms. The deal flow, scale, and complexity of transactions in NYC often surpass those in Toronto, which can make your profile stand out. Your expertise in a niche area at a leading BB will likely be an asset.
Lateral Move to IB in Toronto: Moving laterally to an IB role in Toronto is feasible, especially if you leverage your network and highlight your NYC experience. However, the Canadian market is smaller, and deal flow is less robust compared to NYC, so roles may be more limited.
Buyside Opportunities: Exiting to the buyside in Toronto is possible, but the opportunities are fewer compared to NYC. If you're targeting PE, the Canadian market is more concentrated, with fewer large-cap firms and more mid-market-focused players. Highlighting your NYC experience and deal exposure will be critical.
Compensation Comparison: While NYC salaries are generally higher, Toronto offers a lower cost of living. At the junior level, compensation in Toronto IB is often in line with NYC pay but in Canadian dollars. However, at senior levels, NYC tends to offer significantly higher pay. A move to Toronto may not result in a pay bump, but the cost of living adjustment could balance things out.
Family Considerations: Given your family health situation, the move to Toronto could provide a better work-life balance compared to NYC, as the Canadian IB landscape is known for slightly better hours.
To maximize your chances, focus on networking with Toronto-based professionals, emphasizing your NYC experience, and tailoring your pitch to the Canadian market.
Sources: Canada to NYC Lateral, Bay Street VS Wall Street Investment Banker, Closed thread (Delete), Walk me through the Canadian IB sector
Toronto is London Pay with NYC Hours, why would you move here?
Raised there. Family member got sick
Is there a way they could let you work on of the Toronto office/you get transferred there?
My condolences. I’d go for one of the larger pensions/AM (CPPIB, OTPP, Brookfield, OMERS) if possible
Bro with the current fx rate, we are sub London pay with NYC hours and culture. TTC more dangerous than O Block
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