Canadian Target Schools Ranked By Detailed Global Placement Data
Let me begin by providing a brief summation of the data I have collected through LinkedIn and other sources, in addition to asking contacts across the world (in casual conversation) to verify key components.
I will only include schools in Canada that have placed more than 30 students in IBD from 2016-2021, as there are too many universities in Canada to gather data on all of them.
Data sets are broken down into majors (business, arts, sciences, engineering, other), geographical location, as well as roles (IBD, S&T, AM, VC, PE, ER) in high finance, with an emphasis on IBD (the main role undergraduates are gunning for). Summer analyst roles, spring weeks, off cycle internships and other equivalents are not included, but PAST full time roles are included.
1 - Queen's University (Smith School of Business)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 533
- Number of undergraduates who graduated in 2016-2021 in IBD: 173
- Number of undergraduates who graduated in 2016-2021 in S&T: 243
- Number of undergraduates who graduated in 2016-2021 in ER: 58
- Number of undergraduates who graduated in 2016-2021 in Other: 59
- % in IBD majored in Business/Commerce: 31%
- % in IBD majored in Arts (Economics, History, Philosophy, etc): 22%
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc): 21%
- % in IBD majored in Engineering/Computer Science: 14%
- % in IBD majored in Other (Nursing, Education, etc): 2%
- % in IBD majored in Dual Degree/Double Major: 9%
- % in IBD in Canada: 64%
- % in IBD in USA: 23%
- % in IBD in Europe: 6%
- % in IBD in Asia-Pacific: 4%
- % in IBD in Emerging Regions: 2%
2 - McGill University (Desautels School of Management)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 479
- Number of undergraduates who graduated in 2016-2021 in IBD: 182
- Number of undergraduates who graduated in 2016-2021 in S&T: 204
- Number of undergraduates who graduated in 2016-2021 in ER: 41
- Number of undergraduates who graduated in 2016-2021 in Other: 52
- % in IBD majored in Business/Commerce: 34%
- % in IBD majored in Arts (Economics, History, Philosophy, etc): 13%
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc): 24%
- % in IBD majored in Engineering/Computer Science: 12%
- % in IBD majored in Other (Nursing, Education, etc): 3%
- % in IBD majored in Dual Degree/Double Major: 26%
- % in IBD in Canada: 56%
- % in IBD in USA: 30%
- % in IBD in Europe: 11%
- % in IBD in Asia-Pacific: 2%
- % in IBD in Emerging Regions: 1%
3 - University of Waterloo (Conrad School of Business)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 464
- Number of undergraduates who graduated in 2016-2021 in IBD: 106
- Number of undergraduates who graduated in 2016-2021 in S&T: 310
- Number of undergraduates who graduated in 2016-2021 in ER: 25
- Number of undergraduates who graduated in 2016-2021 in Other: 23
- % in IBD majored in Business/Commerce: 7%
- % in IBD majored in Arts (Economics, History, Philosophy, etc): 4%
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc): 27%
- % in IBD majored in Engineering/Computer Science: 55%
- % in IBD majored in Other (Nursing, Education, etc): 1%
- % in IBD majored in Dual Degree/Double Major: 7%
- % in IBD in Canada: 54%
- % in IBD in USA: 21%
- % in IBD in Europe: 2%
- % in IBD in Asia-Pacific: 21%
- % in IBD in Emerging Regions: 2%
4 - University of Western Ontario (Ivey School of Business)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 423
- Number of undergraduates who graduated in 2016-2021 in IBD: 156
- Number of undergraduates who graduated in 2016-2021 in S&T: 183
- Number of undergraduates who graduated in 2016-2021 in ER: 42
- Number of undergraduates who graduated in 2016-2021 in Other: 56
- % in IBD majored in Business/Commerce: 61%
- % in IBD majored in Arts (Economics, History, Philosophy, etc): 22%
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc): 9%
- % in IBD majored in Engineering/Computer Science: 6%
- % in IBD majored in Other (Nursing, Education, etc): 0%
- % in IBD majored in Dual Degree/Double Major: 2%
- % in IBD in Canada: 62%
- % in IBD in USA: 27%
- % in IBD in Europe: 3%
- % in IBD in Asia-Pacific: 7%
- % in IBD in Emerging Regions: 1%
5 - University of British Columbia (Sauder School of Business)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 308
- Number of undergraduates who graduated in 2016-2021 in IBD: 126
- Number of undergraduates who graduated in 2016-2021 in S&T: 92
- Number of undergraduates who graduated in 2016-2021 in ER: 38
- Number of undergraduates who graduated in 2016-2021 in Other: 72
- % in IBD majored in Business/Commerce: 28%
- % in IBD majored in Arts (Economics, History, Philosophy, etc): 11%
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc): 32%
- % in IBD majored in Engineering/Computer Science: 18%
- % in IBD majored in Other (Nursing, Education, etc): 5%
- % in IBD majored in Dual Degree/Double Major: 6%
- % in IBD in Canada: 39%
- % in IBD in USA: 32%
- % in IBD in Europe: 2%
- % in IBD in Asia-Pacific: 24%
- % in IBD in Emerging Regions: 3%
6 - University of Toronto (Rotman School of Management)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 295
- Number of undergraduates who graduated in 2016-2021 in IBD:
- Number of undergraduates who graduated in 2016-2021 in S&T:
- Number of undergraduates who graduated in 2016-2021 in ER:
- Number of undergraduates who graduated in 2016-2021 in Other:
- % in IBD majored in Business/Commerce:
- % in IBD majored in Arts (Economics, History, Philosophy, etc):
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc):
- % in IBD majored in Engineering/Computer Science:
- % in IBD majored in Other (Nursing, Education, etc):
- % in IBD majored in Dual Degree/Double Major:
- % in IBD in Canada:
- % in IBD in USA:
- % in IBD in Europe:
- % in IBD in Asia-Pacific:
- % in IBD in Emerging Regions:
7 - University of Calgary (Haskayne School of Business)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 232
- Number of undergraduates who graduated in 2016-2021 in IBD:
- Number of undergraduates who graduated in 2016-2021 in S&T:
- Number of undergraduates who graduated in 2016-2021 in ER:
- Number of undergraduates who graduated in 2016-2021 in Other:
- % in IBD majored in Business/Commerce:
- % in IBD majored in Arts (Economics, History, Philosophy, etc):
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc):
- % in IBD majored in Engineering/Computer Science:
- % in IBD majored in Other (Nursing, Education, etc):
- % in IBD majored in Dual Degree/Double Major:
- % in IBD in Canada:
- % in IBD in USA:
- % in IBD in Europe:
- % in IBD in Asia-Pacific:
- % in IBD in Emerging Regions:
8 - Simon Fraser University (Beedie School of Business)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 172
- Number of undergraduates who graduated in 2016-2021 in IBD:
- Number of undergraduates who graduated in 2016-2021 in S&T:
- Number of undergraduates who graduated in 2016-2021 in ER:
- Number of undergraduates who graduated in 2016-2021 in Other:
- % in IBD majored in Business/Commerce:
- % in IBD majored in Arts (Economics, History, Philosophy, etc):
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc):
- % in IBD majored in Engineering/Computer Science:
- % in IBD majored in Other (Nursing, Education, etc):
- % in IBD majored in Dual Degree/Double Major:
- % in IBD in Canada:
- % in IBD in USA:
- % in IBD in Europe:
- % in IBD in Asia-Pacific:
- % in IBD in Emerging Regions:
9 - York University (Schulich School of Business)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 124
- Number of undergraduates who graduated in 2016-2021 in IBD:
- Number of undergraduates who graduated in 2016-2021 in S&T:
- Number of undergraduates who graduated in 2016-2021 in ER:
- Number of undergraduates who graduated in 2016-2021 in Other:
- % in IBD majored in Business/Commerce:
- % in IBD majored in Arts (Economics, History, Philosophy, etc):
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc):
- % in IBD majored in Engineering/Computer Science:
- % in IBD majored in Other (Nursing, Education, etc):
- % in IBD majored in Dual Degree/Double Major:
- % in IBD in Canada:
- % in IBD in USA:
- % in IBD in Europe:
- % in IBD in Asia-Pacific:
- % in IBD in Emerging Regions:
10 - Wilfrid Laurier University (Lazaridis School of Business and Economics)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 92
- Number of undergraduates who graduated in 2016-2021 in IBD:
- Number of undergraduates who graduated in 2016-2021 in S&T:
- Number of undergraduates who graduated in 2016-2021 in ER:
- Number of undergraduates who graduated in 2016-2021 in Other:
- % in IBD majored in Business/Commerce:
- % in IBD majored in Arts (Economics, History, Philosophy, etc):
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc):
- % in IBD majored in Engineering/Computer Science:
- % in IBD majored in Other (Nursing, Education, etc):
- % in IBD majored in Dual Degree/Double Major:
- % in IBD in Canada:
- % in IBD in USA:
- % in IBD in Europe:
- % in IBD in Asia-Pacific:
- % in IBD in Emerging Regions:
11 - McMaster University (Degroote School of Business)
- Number of undergraduates who graduated in 2016-2021 in High Finance (total): 91
- Number of undergraduates who graduated in 2016-2021 in IBD:
- Number of undergraduates who graduated in 2016-2021 in S&T:
- Number of undergraduates who graduated in 2016-2021 in ER:
- Number of undergraduates who graduated in 2016-2021 in Other:
- % in IBD majored in Business/Commerce:
- % in IBD majored in Arts (Economics, History, Philosophy, etc):
- % in IBD majored in Science (Physics, Chemistry, Statistics, Geology, etc):
- % in IBD majored in Engineering/Computer Science:
- % in IBD majored in Other (Nursing, Education, etc):
- % in IBD majored in Dual Degree/Double Major:
- % in IBD in Canada:
- % in IBD in USA:
- % in IBD in Europe:
- % in IBD in Asia-Pacific:
- % in IBD in Emerging Regions:
Hopefully this provides an accurate perspective in what's happening in Canada in terms of placement recently. These numbers are testaments to the well worn paths travelled by some, as well as the alumni base you will have access to. I cannot speak for the merits of on-campus recruiting, apart from my alma mater and the couple or so schools my family members or close friends went to, but these numbers should speak for themselves. Make your own decisions about transferring or applying.
If anyone has any questions, don't hesitate to shoot me a message.
NOTE: I haven't fully added the data sets for the rest of the schools, I will do so tomorrow when I have the time.
Not too surprising given internships and spring weeks are excluded, also the expected Asia-Pacific tilt by UBC and European tilt by McGill due to international students.
I'll check back when my alma mater, Laurier is out.
2018’ Laurier bro checking in - lots of people from my old class are now in IB, I could name 20+ from my class that are now spread across Canada/US at C5/BBs and some that have already moved on to PE roles. Honestly seems like in the last few years Laurier has hit above average, I was kind of shocked to see how many laurier kids went full time IB within 2 yrs of graduating. And I partied and did drugs like fuck during my time there (but also worked hard af and did lots of addy)
Decent piece, pretty surprised to see that overall placement roughly scales with domestic ranking, apart from Queens and Westerns punching above their relative rank.
I'm not scrolling through this fuckcluster of numbers but giving a SB so the undergrad can see
equity research is a small field, but i've seen a lot of laurier kids around, especially their econ majors. laurier is a heavy hitter in buyside and econometrics-focused roles overall.
The placement by Haskayne is insane, from those numbers I'm seeing, it looks like Calgary is at least 2/3 UCalgary kids.
NOOOOO YOU CANT JUST DISPLAY THAT MUH IVEY COMES 4TH WHEN YOU TAKE AWAY INTERNSHIPS AND SPRING WEEKS AND ADD IN INTERNATIONAL SEATS
Interesting to see how higher ranked universities (Waterloo, UBC, McGill) has more ibankers who majored in STEM or even arts who aren't even in the business schools, as opposed to lower-tier universities like Queens and Westerns whose only strength are their business schools, thus having like 50% of all bankers who graduated majoring in commerce or business.
Don't think that's really a fair comparison. I could just as easily say outside of PMF UBC business isn't that impressive so therefore bankers are more likely to come from other programs than commerce. Ivey / Queens also have a fair amount of people doing a dual in business with STEM and other majors. Finally, if you're recruiting from Queen's / Western where all of the top business students are going, why spend any effort recruiting kids outside of those programs? Both schools consistently produce lights out candidates that go on to work at some of the top banks / funds in the US (Ivey sending kids to SLP, Ares, KKR, Point72, Silverpoint, etc., Queens similar with the exclusion of SLP / Silverpoint and the addition of Bridgewater).
Realistically, if I'm judging the actual quality / outcomes of a school the metrics for me are as follows:
Nah Canaccord and GS TMT comp difference at junior levels is like 20% max even accounting for FX. Nobody goes into GS TMT to become a career banker so senior level comp is irrelevant, plus canadians don't exactly have exit opps, so Canaccord is roughly equal to GS TMT for career outcomes based on lifetime comp alone.
Lmao western with their overall shit programs producing like 30% compared to 70% for their bschool
On the other hand we have waterloo with like 75% of their kids coming from STEM
Dont know if quants are lumped in with S&T but Waterloo basically mass produces quants.
Ivey is basically a shit school for finance/MBB in Canada overall, they do get a metric ton of summer analyst/spring week roles due to established pipelines with MM/boutique shops, but in terms of full-time placement, they suck ass. Ivey kids rarely get a return offer from summer analyst stints, since it's mostly to keep relations with the school.
Ivey kids are severely handicapped by the reputation of their school for producing neither strong candidates nor teaching anything of value, especially compared to Smith, Desautels, Sauder or even Lazaridis, because most shops in North America think the case study method is absolute shit (outside of MBB), as well as having basically only two years of business education. It's reputation domestically and internationally is basically rock bottom, because of the caliber of candidates they churn out.
Summary: Ivey does well for getting you summer analyst roles/other part-time roles, but Waterloo and Laurier knocks it out of the part for off-cycle, Queens, Desautels and Sauder crushes it for full-time placement and Rotman basically reigns supreme in terms of international reputation, especially in Europe and Asia-Pacific.
TL;DR: Don't count on getting a return offer or enjoy prestige/recognition by going to Ivey, and don't count on getting internships before your junior year because no company takes a Western kid whose not in Ivey yet seriously, even if they have AEO.
I've worked with people who graduated from Ivey at a Big 5, they mostly got return offers or FT offers via nepotism. Employer perception of Ivey (all of Western too) is honestly shit, and just forget about getting an interview before HBA1.
Honestly Smith and Desautels (queen's and mcgill) were landing way more seats per capita than Ivey was until a few years back when Ivey poached a few faculty with the serious connections to some boutiques and MMs, which helped their placement.
Now the tides are shifting again in favor of the old kings, because Ivey's structure makes it a headache and hassle for firms to recruit or even assure top candidates from there.
lmao ivey nerds throwing shit because they still think their school places the best cause a random excel table made by "apexframeworks" said so
Kudos for gathering the data as it seems like a lot of work has gone into it. As someone who is likely part of the statistic albeit ~4-5 years removed from school, I'm struggling with the "so what" (i.e. the data isn't synthesized in a way where the user can easily extrapolate the key takeaways).
Regarding the data itself, I'd argue that there's inherent sample bias (only includes those within your network / can see on Linkedin). Also, the longer time horizon you look at, the less meaningful the data becomes. The significance of your education (school, GPA, etc.) depreciates over time, as work experience / professional network begins to represent the lion's share of your candidacy. Also keep in mind that majority of people who start in IB / other avenues of sell-side finance (presumably what your data focuses on; the #s for "Other" seems too small to be all-encompassing figure for buyside placements) don't necessarily see it as a means to an end.
Take a 2018 Ivey grad for example - did 2 years in IB and left to join a MF/MM PE firm, which wouldn't be captured in your data. On the other hand, you have a 2018 grad from Waterloo who did 2 years at KPMG in audit and transferred to IB in 2020, and therefore would become a statistic.
No perfect way to skin the cat, but my own view is the data should encompass at most 1-2 years from today, and show figures on both an absolute basis (# of placements), and on a percentage basis (i.e. % of a graduating class). Similarly, the undergraduate major is an interesting metric, but again struggling to find a takeaway with the data. If you want to work in finance, there is no downside to majoring in business / finance. You don't get a leg up in IB recruiting by majoring in immunology / industrial engineering, unless you're specifically targeting a coverage group applicable to your major (which really isn't a consideration for SA recruiting).
Honestly I thought the breakdown by major was helpful, because I was under the notion that non-bschool candidates weren't taken as seriously (read: their CVs get thrown in the shredder), as I thought major matters a lot more in Canada, than say the US or UK, for example. But this isn't the case especially when looking at schools with strong programs outside of business (so not Queens or Western). This means all else equal, you can major in engineering/computer science, grind out technicals on your own time and have a lucrative backup career if you strike out during recruiting.
Would be good to include non-rotman data for UofT, seeing as my S&T SA class at a big 5 was about 60% stem kids.