I recently received offers for both a mid-tier BB in NYC and a top EB in Toronto. Being Canadian, I am leaning towards the BB as it has always been my dream to live and work in NYC. That being said, my end goal is REPE in NYC and I am not sure what firm would give me the best exit ops: Do a lot of Canadians from top firms end up in the RE group of MF in NY? Or should I just accept the BB offer and hope to place into a top group (not guaranteed)
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A bit unrelated but I thought firms in NY weren’t really sponsoring this year. Perhaps I am just unaware.
Those that sponsored last year sponsor this year except for RBC
NY for sure. Canada is mostly a joke.
Lol you’re getting monkey shit for this. Canada is a joke.
The comp you get in US far exceeds what you get in Canada if you do the math. And on top of that, you’ll work with a more diverse group of people.
Did you factor in COL in Toronto versus NY?
you're an idiot. EBs pay the exact same in CAD as they do in the US, except for the currency difference. The PPP spread is only a few % away from current FX. So unless you're planning to stockpile as much USD possible and trading it back to CAD and secretly living in Canada while working for a US firm, there's not a huge difference.
If you want NYC, go for it. Lots of great opportunities there.
I think a lot of Canadians who end up staying in Toronto end up wanting to stay as they realize friends/family are very close by which allows you to take advantage of your free time better when you get it. The comp (adj. for currency and cost of living) is pretty close to on par with NYC. The deal size will obviously be a bit smaller on average but you will still see a good amount of transactions over $1bn.
At the end of the day you gotta make sure you're happy with the lifestyle as you will likely burn out otherwise.
Is either bank strong in RE? Can you get into a RE group at the BB?
My two cents would be to take the mid-tier BB in NYC. If you want to be in NYC long-term, it is probably better to start there. Also, if down the road, you decide you want to come back to Toronto, it is probably easier later on vs. moving the other way (Toronto to New York).
The only counter-argument that I can think of, would be if you thought that the EB would better position you to join a large Canadian real estate investor with a material presence in NYC (e.g., Brookfield or a pension plan).
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