What is your opinion about IB in Canada
What are your views about investment banking in cities like Toronto/Vancouver? Is it as hectic as IB in the USA or anywhere in the world?
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Nothing up there. Barren wasteland full of overpriced property and underpaid staff.
Leave ASAP to get to the US. Comp in Canada is way too low. I don’t even see how people can afford a place in yvr or Toronto on iBanker salaries in those cities. Even a shithole in Vancouver proper is a couple mm.
the deals are extremely small
It’s an option as long as you don’t mind very limited PE exits or be potentially assigned to resource sectors where you’d be pigeon holed early in your career. Definitely not recommended if you have better picks.
Would you consider big4s a better pick than IB in Canada?
I wouldn’t say so mostly from absolute comp perspective for most big 4 groups if your objective is to maximize your total comp. Anecdotally, big 4 M&A advisory comp supposedly closed the gap on IB in recent years, so may be a better option for WLB. You do see folks moving between bank IB big 4 corp fin, especially for lateraling. The whole market is far leas structured vs. US. The playing field seems more level here (especially after Canadian tax fml).
If you have no other options then that's that. Canada has a terrible attitude regarding free enterprise. Work your ass off to give away 53% of your income and then the healthcare system doesn't even cover everything. Joke country.
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