Hello fellow chimps, I'm an incoming analyst at one of the Big Five in Toronto and was curious about analyst bonus figures over the past few years. I've heard RBC had a strong good year last year - can anyone confirm the numbers? Also, is it true that most people at the Big Five tend to land in the mid/top bucket, with small variance across individuals relative to BB?
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Based on the most helpful WSO content, here's what you need to know:
Toronto Big Five Analyst Bonuses: For 1st Year Analysts at the Big Five (RBC, BMO, TD, Scotia, CIBC), the typical compensation structure includes:
RBC Performance: RBC has been noted as a strong performer among the Big Five, often considered a top-tier Canadian bank alongside TD. While specific bonus figures for RBC aren't detailed, it is generally seen as competitive within the Big Five.
Bucket Variance: At the Big Five, there tends to be less variance in bonuses across individuals compared to Bulge Bracket (BB) banks. Most analysts reportedly land in the mid/top bucket, with smaller differences in bonus payouts. This contrasts with BB banks, where bonus allocation can be more politically driven and variable.
If you're looking for a solid work-life balance and job security, the Big Five, particularly RBC and TD, are often recommended. However, keep in mind that buy-side recruiting and exit opportunities may be more limited compared to BB banks in NYC.
Sources: Bay Street VS Wall Street Investment Banker, RANKING: BEST BULGE BRACKET CULTURE, 2022 Analyst 1 Bonus Thread (Consolidated), Next next bulge bracket?, The rise of RBC Capital Markets
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