Toronto BB IB Offices
I was wondering if anyone can provide any insights into the following Toronto offices: -GS -JPM -MS -CS
The last thread I found about GS Toronto was posted in 2008. Curious to hear how things have progressed.
How is the deal flow? Is there something specific about one of the places above that would make you lean towards/away from that office? Anything would be helpful! (Ranking, team structures, exit opps, personal experiences, stories, etc.)
Also: If anyone has an opinion on a JPM/MS/GS Toronto office vs. Citi/Barclays/BAML NYC office, that would be great to hear.
I’ve heard they’re nice because of the brand name, you get paid the same as what they pay in the NYC offices (just converted to CAD). I imagine it’s mostly cross-border deals and some of the more interesting stuff is what you’ll get there compared to the Canadian Big 5.
Heard BAML in Toronto has the best deal flow out of the BB.
Also heard this
It has its pros and cons.
Pros: 1. Generally get paid more (NYC eq in CAD) as mentioned above 2. Exposure to US-CAD deals that a Big 5 may not usually lead 3. Better exits/movement to US if you want to go to a US office of the bank
Cons 1. Major deals will probably be sent back to NYC and you'll be more of a coverage banker 2. Not sure how exits differ between the Big 5 and US banks in Canada PE/HF/AM but I would vote that theres probably going to be a bigger alum base of your bank in Canadian shops
even for PE exits in Canada, you're in a better recruiting position than a big 5 (given that you have very good deal experience on your resume and you weren't in a ridiculously satellite shop).
Really? wow, i was always under the impression that a Big 5 would be a better experience than a sat office.
Being an undergrad (networking a lot, hearing from mates), this is what I know about the banks you've mentioned:
GS - Diversified Industries Group. Rumoured to have harboured all the NYC visa rejjos w some satellite TMT group (that group has a lot of canadians). However, most (if not all) of those guys have left to other GS offices or other firms
JPM - Literally no IB practice in toronto. just corp. IB is in calgs
MS - More established of the TO globals (seen through recruitment processs, size of team). Exits have been good to top PE in canada and abroad. Ivey alum heavy
CS - Ivey, queens and mcgill alum. Bigger analyst class with coverage groups. seen good PE exits
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