Is the Toronto job market bad or am I just shit?
Experienced analyst IB analyst trying to lateral to other banks. Getting first rounds has been easy but there seems to be a constant trend of what they’re looking for. Big 4 Deal Advisory —> Big 5 Desjardins —> Big 5, Big 5 —> Big 5 laterals. There seems to a common theme of getting invited to job interviews at bulk but very specific people are hired. I only had 5 processes that I couldn’t close across various coverage and product groups. I had an offer for another boutique but couldn’t justify the move due to comp being significantly lower.
i think its just competitive, i was only interning this past summer but my bank ran a process so i got to see a little first hand. 60+ applicants, 10+ interviews just to fill one spot.
keep in mind it wasnt a super desirable position
Based on the most helpful WSO content, the Toronto job market for banking appears to be challenging. Here are some key points:
Limited Hiring: There are very few openings for IB analyst roles in Toronto. The market is described as "dead" with only a few firms like Agentis and BMO hiring new graduates. Most available roles require significant experience (around 5 years).
Economic Factors: The global economy is impacting the job market, not just Toronto. This has led to headcount reductions and fewer roles available.
Salary Concerns: Salaries in Toronto for banking roles are relatively low. Many banking staffers struggle to afford a regular life in the city, often sharing apartments and not owning cars.
Lateral Moves: Lateral hiring is particularly tough. The market is saturated, and firms are looking for very specific profiles, often preferring candidates with a clear progression within the Big 5 banks or similar institutions.
Market Saturation: The Canadian market is highly competitive, with a preference for candidates who fit a very specific mold. This makes it difficult for those outside of these parameters to secure roles.
Boutique Firms: While there are some opportunities at boutique firms, the compensation is often significantly lower, making it hard to justify the move.
In summary, the Toronto job market for banking is indeed tough, and the challenges you're facing are consistent with broader market trends. It's not necessarily a reflection of your abilities but rather the current economic and market conditions.
Sources: Is it just me or is Toronto the absolute worst place for banking, Canada to NYC Lateral, State of Lateral Hiring Market?, https://www.wallstreetoasis.com/forum/consulting/same-sht-different-month?customgpt=1, Some thoughts about luck in your career
Bro put Desjardins in just list over national lmaoooo
Low IQ comment because if you’re outside of Desjardins and Big 6, Desjardins is a tried and true path to big five.
lmaooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo
Congrats on national - oh wait you don’t work there ;).
where do i work the lmaooo you dumb f
10/10 troll post
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