Canadian Jobs
Would it be fair to say that getting an IB job in Canada would be easier to achieve than say in the U.S.?
What kind of GPA would one need to secure an internship at some respected IB place? Assuming that the university is top tier for Canada.
On a related note, are most IB jobs here being filled by people with U.S. degrees? For example someone who went to like like NYU or whatever school Americans consider second tier, couldn't find a job in NY and are now here?
No, it's much harder because there are disproportionately fewer spots.
But since there are less schools in Canada where they recruit from, should someone who graduated from Ivey, Queens, McGill still be worried?
i'd say its proportionate. Less spots in Canada with less competition, more spots in US with more competition = equally hard
It's not proportionate in terms of # of spots vs. # of applicants and a significant % of kids that end up in IB from the top Canadian schools end up at US banks (e.g. Queens / Ivey)
The few students that I've met from US schools at Canadian banks tend to be hired for the NY offices -- most spots in Canada tend to be from Canadian schools
If you don't get into a BB there are way, way fewer boutique and MM options available in Canada. The market seems pretty bad up here for the smaller shops. Look at all the boutiques that have closed/downsized recently: Stifel Nicolaus announced it was closing its Toronto and Calgary offices a few days ago, Fraser Mackenzie went out of business, Stonecap Securities closed its Calgary office, Haywood Securities cut 20 staff, GMP cut 16% of its staff, Casimir Capital cut 18 staff etc.
It's way harder in Canada. My brother went to McGill and said each bank in Canada takes 2, maybe 3 people from each school. Same with Consulting. And as someone else pointed out, the boutique market is crap. The system is just different in general. People do Big 4 Audit, get their CA, and then maybe move into equity research or mid-market banking. CA has way more value in Canada than CPA in the U.S. And everyone gets the CFA in Toronto. It's basically a requirement. No one in Canada cares about U.S. schools, unless it's MBB firms looking at MBAs or Canadian athletes on Ivy sports scholarships.
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