Why TD Cowen under TD Securities in IB?

Curious to hear from any current bankers on what appeals to them about joining TD Cowen under TD Securities. I hear a lot of good things about the culture, working hours depending on the group, and commitment to their people. But what is special about the culture there? Thanks

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Based on the most helpful WSO content, TD Securities has a reputation for having a strong culture, particularly in its Toronto office. Here are some highlights that might appeal to current bankers or those considering joining TD Cowen under TD Securities:

  • Supportive Senior Staff: The seniors at TD Securities are known to make a concerted effort to look out for their juniors. This includes being considerate of work-life balance (WLB) and being respectful in their interactions, avoiding behaviors like yelling or talking down to junior staff.

  • Work-Life Balance: While the hours in investment banking can be demanding, TD Securities seems to have a better handle on this compared to other banks. There are reports of 100+ hour weeks, but on average, most groups seem to clock in around 60-70 hours, with the more intense groups averaging 75-80 hours.

  • Social and Team Building: The firm encourages junior socials and group activities, which can help build camaraderie and a sense of team amongst colleagues.

  • Consideration for Time Off: There are group-wide emails encouraging staff to leave early on long weekends, and exceptions are required for weekend work beyond 6-8 hours, showing a consideration for the personal time of employees.

  • Job Security: TD Securities is noted for its stability, especially during economic downturns. They have a history of making fewer cuts compared to other banks during recessions and are known to try to limit reductions in bonuses.

  • Cultural Fit: For those who value a respectful and considerate work environment, TD Securities seems to stand out. The culture is often described as one of the best on the street in Toronto.

These aspects contribute to what many see as a special culture at TD Securities, making it an appealing place for many in the investment banking industry.

Sources: TD Securities Culture??!, TD Securities IB 2020, TD Acquires Cowen

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