Question - Canada Associate Comp
Hi, I'm starting as an IB associate at a Big 5 bank in Toronto. Didn't find a lot of recent and reliable info on this topic so would appreciate input:
1. What is the bonus range for a first-year IB associate at a Big 5? (either in CAD or as % of base)
2. What is the bonus structure? (i.e. if I start in summer 2021, when will the bonus be paid? Should I expect an annual bonus in summer 2022? Or is the bonus paid in Jan 2022? If it is Jan, how will they pro-rate it given I have only worked for ~6 months by that point?)
3. How does the bonus range change over the typical 3 years as an associate? (either in CAD or as % of base)
If you guys could also let me know how you came about this info, that would be super helpful too (i.e. either you yourself work in IB in Toronto, or are close to someone who does, etc.) There's a lot of people guestimating Canada comp, but those numbers seem unreliable (i.e. the numbers they provide for base for starting bonus are really off, so they're either providing outdated or unreliable info).
Thanks in advance!
Bump. What’s your base?
120K CAD
Base stays the same and bonus increases each year. I would guess something like 100%, 150%, 200% of base. This is just a guess but hopefully someone else can provide a concrete answer.
Pretty much bang on. I didn't do a stub year / year 0, but as a first year I got $145k bonus, then $170k (top bucket, but bonuses were down 15% or so since it was a bad year), and I just got $230k as a top bucket third year.
Thanks for the info, this is very helpful. So I take it that:
1. Top bucket first year associate bonuses can be 120%
2. The bonus is paid out at the end of summer?
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