Toronto Boutique/MM Comp Thread

Curious on how comp looks at boutique shops in Toronto. Have heard everything from pennies (FirePower) to above street (Agentis). Curious about places like Eight Capital, Osprey, Valitas, CCC, Paradigm etc, but anywhere is appreicted

Also curious about comp structure (base/bonus) and all colour on Analyst/Associate/VP+ is greatly appreciated, as I'm aware the promotion schedule at these places might be different than Big 5/BB


If you feel like it:


Firm:

Title/YOE:

Base:

All-in Comp:

Hours:

Notes:

 
Most Helpful

Am at one of those on your list. 

I started with base decently below the big 5, ramped really quickly and the gap is almost negligible now. Bonus payout is quarterly and WILDLY varies based on firm. Some of these places are really ECM shops pushing through equity deals on volume to clip the 6/6 with some fairness opinion or 61-101 work to cap off. Those ones are boom and bust depending on how the small cap equity markets and junior mining flow are. Can range from absolutely crushing big 5 peers to zero for multiple quarters.

The ones that are more even have a good mix of advisory and financing work. Like real mandates, not just fairness opinions. You still have some dry quarters on bonuses but net net, all in comp I'm generally on par with my big 5 peers and sometimes come in higher.

Some of these firms have more rigid promotion structures and hierarchies similar to banks, others like mine are discretionary. You deliver, you get the bump, see my comment on my base ramp.

My hours as an asso - generally 50-60 with the occasional 80-100 when big advisory files come in because deal teams are like 3-4 people. No more than a couple times a quarter

My hours as a veep - 40-50 almost entirely doing coverage now. When heavy on execution, probably 50-60.

 

Thank you, this is super helpful. At a firm like yours, or one of the ones mentioned, what does the process look like for recruiting? Would cold emailing for a position work? Just curious as that's how it is at some US boutiques 

 

Great question. We post at the schools but more as a backup. By the time we post, we already have our interview shortlist. Almost all of those are kids who cold emailed, we have met and vetted. The final interview pool is always 5-6 of those and a couple of dipshit Queens kids who flopped out of bank interviews (courtesy of one of our queens alum bankers). 
 

We don’t give a shit about pedigree. We can teach you proper technicals in a couple of days. What We really want are hungry, fearless people who want to close deals. Give me a non-target with a point to prove any day. 
 

so the answer to your question is yes, please cold email. Be thoughtful. My firms policy is we meet all our inbound cold emails. We would rather grab a coffee and put a face to the name over spending hours looking at cookie cutter resumes from Queens and Ivey. 

 

Great intel, SB'ed. Interested in hearing your base ramp, can't see past comments cuz you're anon

 

Any idea how hard it is to get a position there? I see their posting all the time but my friend said there were like 5 rounds of interviews before he got dinged lol.

 

I did both of their online assessments (IQ/math one and personality) before getting removed. I assume they use those automated systems to filter people and then look at resumes later

 
Funniest

Bookmarked this thread so I can comeback when someone inevitably makes fun of the 5’1 FirePower manlet guy

 

From what I’ve heard valitas pays base around street then over two years as an analyst your bonus is low 100s year one and low 200s year two so you average street over two years. Haven’t seen any activity recently so not sure if still true.

 

Late to this thread, might be a good time to revive tho.

Firm: MM firm not listed, <10 people here

Title/YOE: AN1

Base: 75k

All-in Comp: 100k

Hours: Good week = 50-60, bad week = 70-80

Notes: People are alright, deal flow is ok. Can't complain besides low comp

 

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