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LOL. In all seriousness though. At BMO Toronto, the chilliest group in is probably Tech & Business Services. The funny thing is that they sit pretty close to the mining bullpen so the mining analysts get to watch the tech analysts leave everyday by 11pm while the mining analyst slave away into the wee hours of the night

 

In my opinion, it isn't. Although you get a lot of reps, you will also get plenty of reps at the other Canadian banks (and even boutiques). Unless you LOVE mining, then maybe it's worth it but even then I don't think it is. I had a buddy that worked in that group and every time I saw him, he looked horrible lol

I'm guessing the bonus is going to be really good just based on all the deals that the team does but honestly have no idea.

 

Mining exit opps are a bit different than other industries given there aren't as many PE options. Some will exit to mining PE, but most funds are based out of London or Aus, so more end up going to corp dev or AM/HF.

A well-regarded group like BMO would give you better odds at landing at a larger producer (ABX/AEM), with less prestigious groups feeding into intermediates/juniors/developers/explorers. Mining corp dev lifestyle can be pretty cushy (when not on a live deal) and grossly overpaid when compared to other sectors.
Some will also go to AM/HF, with many asset managers in Toronto having mining/natural resources teams.

 

It's certainly busy don't get me wrong but on any given mandate, sponsors is not taking the lead on the model - even if it's an LBO. It would almost always be M&A. On general coverage/pitching there can be a bit of work but no blow your brains out type analysis. Most of the value add is the seniors and their connections to the major PE players.

As a result, the workload isn't nearly as heavy and the work you're doing is mostly just industry pages/helping support the coverage team rather than anything in depth. Maybe my bank did things a bit differently, but consensus from people I know at other sponsors groups is that they aren't leading transactions even if it was brought in by that team.   

Source - I used to work in a big 5 sponsors group 

 

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