Saw TD and BMO had postings out for tech teams. Curious how these groups are since tech is often a pretty dead sector in Canada. Would you still get good experience at these teams?
Would also appreciate any insight into culture, hours, comp, etc. for these groups.
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When it comes to Tech IB in Canada, here's what you need to know based on the most helpful WSO content:
Experience in Tech IB Teams:
While tech is not as dominant a sector in Canada compared to the U.S., joining tech teams at TD or BMO can still provide solid experience. These teams often work on mid-market deals and may have exposure to cross-border transactions, especially with U.S. counterparts. The experience might not be as robust as in sectors like mining or energy, but it can still be valuable if you're looking to specialize in tech or transition to a larger market later.
Culture:
Hours:
Compensation:
Compensation at TD and BMO is competitive for Canadian banks but generally lower than U.S. bulge brackets. Bonuses and pay scales are consistent, with TD being noted for tight bonus ranges and stability even during economic downturns.
Exit Opportunities:
While tech in Canada might not offer the same exit opportunities as in the U.S., the experience can still be leveraged for roles in tech-focused private equity, venture capital, or lateral moves to larger tech hubs like the U.S. or Europe.
In summary, joining tech IB teams at TD or BMO can be a good move if you're looking for solid foundational experience in a supportive culture. While the tech sector in Canada is smaller, these teams can still provide meaningful exposure and opportunities for growth.
Sources: TD Securities Culture??!, https://www.wallstreetoasis.com/forum/investment-banking/who-has-heard-about-these-teams-citi-tts-deutsche-gts-jpm-tss-baml-gts?customgpt=1, https://www.wallstreetoasis.com/forum/investment-banking/jpm-ma-vs-top-eb-cvpevrpjt?customgpt=1
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