Seriously! For a bank that fucks its junior employees with lower than street bonuses, when the fuck is this bank going to increase the base pay from $85k for its IB Analysts?
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Interested if bmo corporate banking sill get bump to the base or bonus
Confirmed.
BMO is a sweat shop both in hours and pay
Can you elaborate further
Have some groups that work like 90-100+ hours consistently and pay barely market/under
ex. Metals & Mining
Im sure some groups aren’t as bad tho
Bump
they better increase base to match the rest of the banks soon
or what. people already try and lateral out of bmo all the time
Well it’s unlikely if you look at their 2025 financial target - in short, laser focused on cost cutting
Crazy, they have already had the reputation for cost cutting the last few years.
It's a total shit show over there (in the U.S.). MDs dropping like flies.
BMO sucks - it's not about dealflow or prestige or anything, I'm just referring to the culture and the prospects. Getting a 10k bump should be the least of your concerns if you work there - getting out would be higher priority.
I'm sure they will bump pay. Have heard nothing but good things about the culture from friends that are SA and analysts at the firm so I don't understand the constant slander
Nice try BMO
.
I interned at BMO, can confirm that the culture looks good while doing a virtual internship because you aren’t actually there observing. But it’s so easy to make it look good when you’re virtual. Obviously no one is going to invite the intern to a call where the md is just yelling at the analysts. I was looped into some call by an analyst that the md didn’t know me and a few other interns were on, let me tell you I got a real good look into the actual culture of the firm. There were teams that were so slammed that the interns worked no more than 15hr/week because virtual interns are useless. The minute I had my offer in my hand I started asking my analysts questions. Every single one told me the culture sucked, they recommend re-recruiting, and have since jumped ship to literally any other bank. My good friend is still stuck at BMO, he drank the kook aid and is trying to leave, guy looks miserable.
i have no idea who they networked with when you were recruiting but I can almost guarantee they will be gone by the time your friends join full time. And they aren’t exiting to kkr but lateraling anywhere they possibly can.
This.
Lol probably never.
I’ve worked with a couple BMO bankers out of New York. I mean they just seemed like your typical banker culture.
Is the culture at BMO really that hardcore? They seem to get a lot of attention on this site but are really considered a MM bank in the US. Are you referring to their NY office ?
I worked at BMO for 2 years because I didn’t get a return offer somewhere else my prior summer and that was the only tier place I could get an offer at for FT. It was shocking how different the experience was compared to my internship and current new role.
At BMO, the pay is way below street. The hours are a nightmare because the MDs know they are going to lose in pitches so they make desperate attempts to create tons of ancillary (useless) material in hopes that it will somehow help. Tons of kids go for more than a year without closing a sell side deal because BMO only does right side financing and then those kids have trouble recruiting for lateral or PE roles. I know many VPs who don’t have a tombstone on their desk. It’s a sad place to work.
Nail on the head, stayed 3 years, wanted to leave after 1 but had some personal stuff come up. Fucking joke firm but appreciated having an IB job. Pay sucks, MDs are clowns, jrs aren't the brightest IMO, not a financing shop but also not a sell-side shop (so literally nothing gets done). Had to stretch really hard during recruiting to somehow land a lowest rung PE offer. If anyone's there would suggest using it to lateral elsewhere or use it to FT elsewhere. I goofed off during jr summer recruiting and ended up here and the impact is compounding years later, don't make my mistake. And right now, everyone's bouncing.
Holy fuck.
What groups would you say are the best at the firm?
Their Metals and Mining group is the top M&M group in the world according to many people, but it might as well be the sweatiest group in Canada
What about the firm's top groups in NYC?
Agree with comments on metals and mining group. Top M&M group in the world but the sweatiest place in Canada
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Wow was this for SA 2022? I believe I may have had the same interviewer
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B U M P
Seems to be trending positive in the league tables and getting on larger deals, i.e. PFG (2.5), McGraw (4.5), EQT (4.6), CP (30) - died at end but still listed for some reason. Not too much experience with people here but I generally hear good things.
We found HR
They held a call a few months ago saying they're raising comp "15%" - who knows what the fuck that means though come bonus time in 2 weeks for analysts.
Any update on this?
Bump any news on if this transpired? Did all of CIB receive the 15% bonus increase including analysts in corporate banking?
Have none of you heard about the BMO discount!!!
Discount for what? They need to be paying a Premium.
r/whoosh
Is BMO Corp Banking in the M&M group a good place to be long term for someone in Toronto?
Look like they might be following suit? Anyone got any detail?
associate pay up to 135??? what were they paying before
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the arb andy post is incorrect - they bumped AN1 to 100k AN2 to 105k and AS1 to 175k
Thanks! Do you know if this applies for canadian corp banking as well? Is corp banking housed with the investment bank?
CB is housed within IB. For US they bumped A1 to $85k for CB
Source?
I work there…
Do you know if this is for incoming analysts too? How was this communicated?
I’m an incoming IB analyst and haven’t heard anything. How did they communicate it?
Group Heads in every group made calls on Friday. It applies to new hires too since they raised across the board. My Workday has not updated yet either.
Have any incoming analysts received an updated offer letter?
No, I haven’t received anything. On workday it still says 85k.
Incoming 1st year CB analyst here - just got verbal offer for 90 Base
Really? 90 not 85 for CB? Are you in NY or CHI
Gonna leave soon if my base doesn't increase like the 70% of the analysts/associates from last year left.
Interesting update - I just checked the compensation tab in workday and it is now blank.
I looked a few days ago and it listed 85k.
same, guess we're all fired
They said on a call workday would be updated this week.
They upped it to 95k a week or so ago
I've heard bump was to 100K for AN1? Are you in the company?
The reason we are still discussing is because it has not been confirmed for incoming analysts yet.
I've also heard bump to 100k for AN1 from sources inside the bank
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