Looking for advice on whether to pursue an investment banking career at TD Securities NY. How does TD rank in terms of M&A deal flow. I know they are growing at a fast pace, but I'm worried that the brand is low tier in the NY market.
Also, what is compensation like? I know base is 85k for 1st-year analyst, but does anyone have information on the bonus?
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Do you have an offer there right now?
Have heard they are growing like crazy
strongest in Canada and senior executive management has eyes set on US hyper-growth in the next decade
'strongest in Canada'. except most people would choose the other usual Canadian suspect over TD and especially in the context of the US. but I can see you're totally unbiased here.
What would you say so?
Great place to be in the next decade or two IMO especially from a career banking perspective. Crazy growth, good comp, and amazing culture. Know a few senior people at the Canadian office who have said that there is a lot of focus on growing their US presence. They have attracted a lot of really good senior talent for their US office so we have to see where it leads. Amazing place to be OP if you have an offer.
Edit: However to answer your question so far I would say they are little lower market to mid market in terms of M&A deal flow. I could be absolutely wrong again I don’t have access to league tables or anything but that’s just what I heard.
How about M&A deal flow and exit ops into PE?
Bump. Curios about Comp levels
If you're looking to leave to PE or even corpdev then TD isn't the place to be, unless it's you're only offer, in which case your bets bet is to lateral. But if you want to stay in IB I think it's a good place to be from the long-term perspective. Every year they'll be growing and constantly hiring, and you, by nature of staying as you move up will always be senior to the new hires. You may have an easier time at the harder promotes like VP to Director and Director to MD, especially if you start off at the firm as an analyst. I'd rather be at a growing firm than a stagnant one. That said, if you have an offer at a BB/EB or even brand-name MM then 100% take that over TD
How is TD Securities in the Toronto office?
How is their CMT group in NY?
Pros:
- good work life balance for an IB. More or less the seniors are great and the juniors are collaborative except the few usual dicks
- in the US they say they want to grow a lot and tbh they are putting the money where their mouth is. It may or may not work out but Atleast they are putting in the money and bringing in senior MDs etc from other BBs. Let’s see how it pans out but initial results have been encouraging in terms of deal flow.
- the Canadian heads seem to genuinely want to be a big player in the US AND have TD be a great place to work. And in Canada that is probably the case but they are out of touch with the US staff
Cons
- def lacks the prestige right now. They def live off the Canadian firms (doing business in the US)
- Comp is competitive but not on higher end As far as BBs are concerned probably falls in middle of the pack
- Exits: PE exit is rare. Best shot is another IB or Corp dev
- there’s no real culture since the seniors who would create such a culture are mish mash of MDs poached from other banks.
- Some short sighted analysts see this as a positive but A to A is just two years. That sometimes means that other bank won’t look at a first year associate in the same way and want you to do another year of analyst if you’re trying to switch. Also since these same analysts become associates (lack of exits and being an associate 2 years in); it means that the next batch isn’t trained well and it’s a circle of mediocrity.
- following on from above; in Canada the analysts are top notch but in the US the quality of the analysts and junior staff in general is low which makes it challenging if you lateraled as a senior associate from a top BB. Obv there are a few good ones but in US the kids who end up are usually ones who couldn’t make it at other banks so it’s a self selecting group of mediocrity.
All in all it’s a good place to work and I think will grow a lot. But if have the option of more established US banks then I wouldn’t start my career there.
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