What's the culture like at Canadian banks?
I read that Canadian banks had a much better (compared to the US, not other jobs ofc) work life balance.
How true is this? What would hours typically look like as an analyst at BMO or CIBC?
Are you asking for Toronto offices? This is the consensus amongst me and my friends:
RBC: Have heard they work you hard, have heard that generally you will be worked hardest here in Toronto (with the exception of the known sweatshop groups across the street).
TD: Have heard WLB is decent here if you can avoid CMT (not a knock on the group at all - incredible group just super busy all the time). Consensus amongst people I've talked to is that TD generally offers the best culture on the street.
BMO: Group dependent, some groups are extremely intense (cough cough Mining) but know some people love their groups and have a good balance.
CIBC: M&A works their 1st years extremely rough, can't comment too much on other groups but at least everyone I spoke to here is super nice.
Scotia: Absolutely no idea...hopefully someone else can chime in.
I work for RBC - I would definitely say it does not work you the hardest of the big 5. Most groups have very little face time. I've worked at other banks and RBC has the chillest culture by far (doesn't necessarily mean hours are always the best, but there's very few toxic people) however they're pretty selective in their fit requirements when choosing candidates. I have also heard good things about TD. I would absolutely stay away from BMO, you may luck out and land a cool team but that place has by far the biggest proportion of toxic people.
Can you PM me?
I second staying away from BMO. The culture is horrible. It's getting sweatier and sweatier. Timelines are literally ridiculous for everything.
On top of culture, bonuses are only good and not great.
Can u elaborate more on the fit portion?
Seeing this answer makes me realize how little do I know or care about Canadian banks, only knew two of them are HQ in Canada
Well it's going on 1 am and I'm still slogging through a DD here, so...
Would be curious to hear about their US offices
Just make sure to carry enough mickeys to deal with the hosers and keeners, and secure those loonies and toonies, eh?
Anecdotal story, a friend was dinged because in one of the final interviews he was asked if he used TD Bank as his bank, and when he rplied no the MD scoffed why do you want to work here if you don't use us?
From reading on this forum, all Canadian banks in the US have a toxic culture, with exception to RBC. BMO seems to be a nightmare.
BMO is a shit show. RBC is decent
My friend summered at Scotiabank before lateraling somewhere else fulltime. According to her, some of her analysts/associates literally averaged 50 hours a week.
What group was she in?
Group?
Any thoughts on BMO in the US? Specifically Chicago (US HQ)
Not sure about banks but the buyside firms here are great culturally
The pension funds yes, the privately-operated PE shops are sweatshops.
Typically a lot of skating, mostly ice hockey. Dangle a few "Sorrys" here and there, and you got yourself some Canadian culture, eh? Just make sure to get yourself a nice sweater bud.
good culture so far on the CB side
Everywhere in calgary is sweaty except scotia
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