All-in PE Comp List in Montreal
I'm currently in Toronto and will be moving to Montreal in about 1.5 - 2 years, and very curious to understand comp in Montreal. Can some ex-Montrealers and current Montrealers provide the scoop on all-in comp (seperate base and bonus if possible) for Analyst 1, Analyst 2, Analyst 3/Associate (seems like Senior Analyst is the norm in some shops), Associate 2, Associate 3, if possible, at the following PE funds:
1. PSP
2. CDPQ
4. Fiera Comox
3. Novacap
4. Claridge
5. Cycle Capital (MaRs)
6. Persistence Capital
7. Valsoft
Very much appreciated
b
Curious as to why you would want to move from Toronto to Montreal? People typically do the opposite. I don’t know much about Montreal comp aside for PSP being at about $85-$100k base and 25% bonus (before multiple) for Senior Analysts.
Hmmm you can't exactly compare all of those. PSP and CDPQ are pension funds. Fiera Comox is kind of a fund of fund on the PE side.
Novacap is one of the only real PE funds in Montreal.
Cycle Capital and Persistence Capital are both VC/Growth funds, with Cycle specializing in cleantech and Persistence specializing in healthcare.
Claridge is a big family office, but I don't think they do direct investments.
Don't know much about the others, but all in all comp will be vastly different across all of these.
When recruiting out of Canada most candidates from Montreal including some from firms you mentioned here were ~$80k - $100k CAD base depending on their experience. I was primarily looking across Canada and it seemed like asks from candidates in Vancouver and Toronto were generally a little higher if they were already at a PE firm. If jumping from IB...it varied a lot just given how small most IBs are in Canada, especially once you factor in the bullshit IBs working on weedstonkz.
Bump
Also, I’ve heard that knowing French isn’t as important at PSP as it is at CDPQ, is that true?
100% true. French would be required at CDPQ, particularly in the Montreal office.
Interesting. As someone trying to learn French and knowing just enough to get by, but not for professionals reasons, would that be sufficient for PSP in their Montreal office? Obviously knowing it would be better, but I'm just curious if it's a dealbreaker.
Is the comp at PSP that low? They have attracted some really talented guys at least in their London office. I saw joiners from places like Blackstone, Bridgepoint and Permira. How are they attracting the level of talent with comp like that?
work life balance...
Second that, it seems really low...
Wait, did you just compare Montreal comp to London comp? Talk about comparing apples to firetrucks. Montreal has relatively low COL, especially compared to London. $120k+ all-in compensation straight out of school for Montreal is decent, particularly if you don’t work banking hours.
Ok, I am sure there is a cost of living adjustment but you tell me that a Director in London doing the exact same thing as a Director in Montreal is making significantly more money at a pension fund?
The comparison is between Montreal and London Senior Analyst comp, not Directors. Also, it’s my understanding that Senior Analyst was the entry-level role for a while and in most groups at PSP. I’m sure that the COL question dilutes at higher levels, but I’m also certain that Senior Analysts in London will make more than the ones in Montreal. Lastly, people coming from the funds you named aren’t coming in as Senior Analysts making $85-100k base and 25% pre-multiple bonuses, Montreal or not.
PSP pays on par with CPP pretty much and Montreal COL is significantly lower than Toronto. PSP is largely anglo, you wouldn't need anything other than an elementary understanding of French to work there. CDPQ will require you to be fluent in French, they even have their internal models with French names (ie BAIIA instead of EBITDA)
The guys at the NYC and London offices get paid way more than the guys in Montreal. Very similar situation at CDPQ, where I've been told the difference is ridiculous, even when taking into account the cost of living difference.
To put pay into context, a reasonable entry level flat in Montreal can be as low as 300k. 300k won't get you squat in London/Toronto
Taxes in the UK are nuts too.
Sure, property is far cheaper in Montreal, not a single other thing is. I believe people in Quebec have the privilege of living in the most taxed state or province in North America.
Earum dolorem quaerat quasi voluptas eius et accusamus. Eius dolorem molestiae sunt libero delectus. Excepturi debitis cumque ea est esse.
Minima corrupti nesciunt distinctio voluptas. Ducimus non et eum facere sit ipsum voluptatem. Distinctio impedit autem rerum nihil.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...