After speaking with a few people at TD, it seems like they all overemphasize how great the culture and hours are at TD.
To those of you working at TD or who previously worked there, did you think the culture is great? What were some things you didn’t like?
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What’s USA office like?
Are they operating as the old Cowen, or more like TD?
Was Cowen integrated into TD or does it still remain as Cowen?
Currently at TD (Was originally at Cowen). Cowen still operates pretty independently since we have more M&A relationships etc. than the TD team does. So most of the leadership team is Cowen focused. That being said, the culture here is pretty solid, though we are starting to trim headcount a bit from my understanding, so we'll see how that impacts culture / morale
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No answers? Has everyone at TD been laid off?!
Started my time at TD Toronto before moving to the buyside. Have worked with the NY TD office on a few deals before so can comment a little bit.
TD culture is one of the best, if not the best amongst the street in Toronto. Coming from the head of IB (caveat believe he just retired), the seniors really do take an effort to try to look out for juniors and be considerate to junior WLB on workstreams. While banking is banking, and I have pulled 100+ hour weeks as an analyst (averaged 75-80 hours, in the toughest group, most other groups average 60-70), I will say my experience has been better than many of my friends and peers at other banks. Hours are overall better than other banks and I've never seen anyone be seriously abused in the Toronto office (i.e., no yelling, swearing, talking down, etc.). Again banking is banking, but if you're free, there's regular junior socials, group wide emails to leave early on long weekends, exceptions required for weekend work more than 6-8 hours, etc. (again, if you on a live deal you ain't leaving early on Fridays for long weekends, and you'll always get an exception to work weekends, but its the thought that counts). From what I hear based on the juniors I worked with in the NY office, they echoed the overall same sentiment roughly.
A note on job security - TD is quite safe and considerate compared to most banks. For Canadian offices at least and compared to other banks in Canada, they are the bank that cuts the least in a recession and tries their best to limit the reductions in bonuses. I've heard in the 2008 GFC, they barely cut people, and during my time there, they barely cut anyone on performance and bonus ranges were very tight (same goes the past few years). I would note this goes both ways - if you are a top bucket performer, you will get worked harder than others, but your bonus (at least at the Associate and Analyst level) will be barely higher than your peers that coasted / were average. I know I was pissed when my AN1 bonus was $5k more but I got cranked way harder than my friends.
I hated banking and would never go back, but I don't regret doing my time at TD and would highly recommend it as a top 2 Canadian bank alongside RBC and a solid MM in the US if you're looking for good WLB and job security / want to have a bit easier time outperforming as overall your competition grinds less.
Thank you, appreciate the insight
Hey, just out of curiosity, what group were you a part of at TD?
Incredibly outdated take. You have no clue what TD has gone through since Cowen acquisition. It’s a shit show. Tons of layoffs and many MDs are busy virtue signalling rather than growing the business.
what group is this??
If you are a PoC, avoid TD at any costs
Wait why, if I may ask? Also what are the bonuses like now and which teams are the best? Eg, technology, oil and gas, etc?
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Very average culture.
i met a guy working in their telecom group and he said it was rare that he left before midnight. Mostly cuz of the datacenter buildout
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