Deciding a summer internship between Canadian Middle Market boutique v.s. Asset Manager Toronto office.
Hey guys. Was wondering if I am interested to pursue a career in finance (with one more summer to go; graduating in 2024), which offer should I take up for this summer? I have an IB SA offer from a Canadian Middle Market Boutique (think Canaccord, Desjardins, Agentis Capital) and another offer to work as a data analyst (large back-end, internal support) for a large asset manager's ETF team (think BlackRock, Vanguard, Fidelity). Looking to set myself up for next year summer's recruitment process (2023 summer), so not sure which option to choose from (banking vs bigger name).
Canaccord shouldn't be grouped with Desjardins or Agentis, they are miles ahead in the Canadian market. Desjardins is still growing their IB practice, from what I know they are primarily focused on real estate and do a lot of pitching. Agentis is strictly LMM, focused on small P3 deals.
If your goal is to set yourself up for banking, you would be better off in a banking role at any of the three places vs. data analytics.
Agreed. This shouldn't even be a question to consider
Late to the party here but just for other readers, I wouldn't really consider Agentis to be LMM by Canadian standards. Looking at some of the recent tombstones on the website, most are around $500mm and there are a few greater than $1bn. That being said, Canaccord is definitely in a higher weight class.
Boutique IB > finance related front office at a large institution.
This is the advice I’ve been given by many bankers (I’m also graduating summer 2024) for my second year summer.
In this case I would look at the job description and see what you want to recruit for. If you want to pursue FT IB analyst, take the IB SA job. Back office of GS is still back office. The Canaccord IB guy has a better shot for any IB role.
Which Canadian boutique has already recruited? I thought canaccord, agentis and desjardins haven’t started yet
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