How would you compare the two in terms of deal flow, value of work experience, and intensity of work? Specifically, I'm considering working in Toronto this summer at an investment bank. Would it be difficult to get a BB banking job in New York after graduation?
| +171 | How to stop feeling like shit for not making it in IB? | 64 | 7h | |
| +124 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 59 | 21h | |
| +85 | Updated LA Banking Scene (2024) | 61 | 18h | |
| +42 | Ranking banks that went under | 26 | 54m | |
| +39 | Burnt Out M&A ASO | 22 | 11h | |
| +37 | Relevance of A-Levels for U.K. London recruiting | 25 | 16h | |
| +34 | Intern Ettiquette | 7 | 1h | |
| +33 | A strategy for SA applicants late to the game like myself | 17 | 13h | |
| +27 | Series 79 Help / Tips to Pass The First Attempt | 11 | 3d | |
| +23 | What are hours like at BBs in London? | 47 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
ie. if you have the chance to work in CIBC or RBC's M&A group, or even TD's Telecom group for that matter, you'll get your fair share of interviews next year.
if you go to an unknown boutique, dont expect many calls.
Basically depends on where you go to school and who you are working with.
Are you going to school in Canada? If so, what school? I've found that US BBs hire more from certain Canadian schools than others.
Who are you working with? Most Canadian banks have only small operations in the US where the deal flow is crappy.
You're absolutely right that most Cdn. banks have small operations in the US.....but you still have to admit that RBC or CIBC would be attractive on a resume even to US banks
If we're talking NYC, then I would say CIBC WM might be the only bank worth anything (BMO Cap Mkts in Chicago)...but even this is a stretch. The US BBs don't give a shit about Canadian banking because their operations are miniature in the United States. Most Americans haven't even heard of TD Securities or Scotia Cap. I would say your best shot at a US BB job in NYC is if you are with CIBC WM and went to either McGill or Ivey (neither of which I would consider to be good business schools, but that's another forum).
That being said, if you're ultimate goal is to work in a US BB, then you should work in the NYC office of any Canadian bank regardless. In the eyes of a US BB, the only thing lower than working in a small US operation is working in Canada. If you want a better IB experience with greater flow and bigger deals, then Toronto is the place to be within any Canadian bank, without question.
Thanks for the advice. I actually go to school in America but my family lives in Toronto, so I was thinking of working there for one summer (I'm a junior) and then going to NY after college. What are your thoughts on trying to get an internship in Toronto at an American BB bank? According to you it seems like Canadian banks don't get much respect, but how would you compare the work experience at a Canadian bank in Toronto and an American BB in Toronto?
Thanks.
If you ultimately want to move to a BB in NYC, it would be most advantageous to work for that BB in Toronto. The actual work experience, however, will not be as good as if you worked with a Canadian bank in Toronto.
The top US BB in Canada is Merrill Lynch as a result of their takeover of Midland Walwyn about a decade ago, but they still rank below the Big 5 and National.
Merrill Lynch is no longer the top U.S. bank in Canada. Think Goldman, UBS, CSFB. Maybe JPM or Morgan as well.
You'll do just fine getting a job in NY if you do a legitimate internship (and get an offer to come back) in Toronto.
in Toronto though? Is there alot in the way of deal flow and modelling? Or do the Canadian banks see more of that?
in Toronto though? Is there alot in the way of deal flow and modelling? Or do the Canadian banks see more of that?
What school are you at in the U.S.? Securing a banking gig in Toronto is highly competitive and if you don't go to a top U.S. school you'll have a tough time landing a position, especially for summer. There must be 20-25 summer analyst positions in Toronto and these are mostly reserved for the Ivey/Queens kids
Repudiandae distinctio architecto rerum id aut mollitia. Aliquid odit aut sint ea nesciunt.
Sapiente et dignissimos est quidem et veritatis reprehenderit expedita. Saepe dolorum non in aut. Quaerat similique et odit eligendi fugit. Libero ut rerum id sunt voluptates. Dolorem aut earum quia alias est. Atque temporibus perspiciatis mollitia illo accusamus. Autem doloremque enim dolor quae recusandae ut quis. Dolores assumenda ab temporibus sapiente.
Consequatur natus nam repellendus vel laboriosam quo omnis qui. Molestias nam id molestiae quos et. Officiis et maxime sunt. Corrupti sit dolores libero. Et tempore neque totam.
Aut vel beatae libero quasi vero qui aspernatur. Pariatur nemo autem tempora facere. Est dolores non veniam. Ut dolorem maiores eius aut sed adipisci.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...