What are the best IB Boutiques in Canada ?
It is too late for me to apply for summer analyst positions at the major IB Banks since I already graduated. I am now aiming for boutiques instead, what are the best ones in Canada that accept recent grads on the job market?
GMP, Canaccord and then Cormark as a distant third.
For energy, Peters is also good.
Everything else is pretty weak tbh and you wont get solid deal experience. Plenty of people have started at weaker shops and then lateralled to a BB/Big 5 though but dont try to swim too far downstream or else that becomes tough.
I really have no experience beyond data entry jobs, however, I have an extreme passion for IB ( even though I graduated with a science degree). I took online courses in finance and I really want to convey my passion for this field. Do you think these boutiques will take a chance by hiring someone like me?
Agreed with the above poster. GMP and Cangen are stellar shops with very sharp people.
Would be interested in what others have to say.
Canaccord, GMP, and Raymond James seem to have great operations in Canada. Canaccord has some really great people but I believe the office is known to be a sweatshop. GMP also has some really nice people. Good deal flow. Raymond James has been on some big deals lately and their team seems to be quite strong... many seniors from Big 5 and BBs.
Spoken a bunch of bankers at Cangen this summer and doesnt seem to be much of a sweatshop. Life balance is pretty good from what Ive heard.
Then again, all of that could just be a facade lol...
The independent, non-bank advisory business model is much more difficult to replicate in Canada compared to the US because the M&A environment isn't nearly as robust. All else held constant, fewer companies that are typically smaller in size means lower fees, making the independent business model less enticing. In addition, the heavy weighting towards natural resources by default carves a niche for independents. While independents crush it during good times for O&G and M&M, it makes them more sensitive to fluctuations in the commodities markets(when oil prices tanked, tons of independents went belly up).
I think its important to make the distinction between larger independents(CanGen, GMP, Cormark, EightCap etc) and some of the smaller ones on the street that focus on junior/medium sized corporate finance mandates for resource sectors. The larger independents are more stable during turbulent times because they have a global presence and have other business segments (PWM, PE, etc) act as a buffer for their capital markets business. If you are interested in true boutiques, Calgary(O&G) and Vancouver(M&M) might be places to look if you're interested in either sector. Hiring for the latter will be demand driven, so keep an eye out for opportunities because they'll come and go relatively quickly.
Thoughts on Canadian Boutique IBs? (Originally Posted: 12/04/2012)
Hey guys,
Looking to get your thoughts on Canadian boutiques for IB (ie GMP, Dundee Capital Markets, Canaccord, etc)
What's the pay, exit opps, work/life balance (terrible to non-existent) like?
Booo banking sucks, Tier-1 consulting or bust!
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