I was talking with a friend of mine and he said the only way anyone is getting an S&T job in Toronto was to get one out of an MBA.
As a CA, is there any chance for me?
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Yeah it's a brutally competitive industry here. Getting a spot in one of those rotation programs is like winning the lottery.
Not true and I don't think it is THAT competitive as suggested by manbearpig.
But to address you, CA -> S&T is a fairly bizarre move (in my opinion, could be wrong). You could look into MBA. I know Rotman but 3 (95% sure) into RBC's rotational program this summer so it can be helpful.
It is absolutely that competitive if you are applying as an experienced candidate. It's by far the most competitive category to be coming in from. I was given this information first hand from a VP who interviews people for the rotational program.
It's less competitive if you're still in school, preferably in a program/school that they recruit from.
Most people come from MBA or undergrad. Possibly an MFE style program. As a CA, what would you want to trade? Not sure how being a CA gives a one-up on trading anything. You would need to network really hard.
Don't mean to whine or sound like a B4tch but S&T in toronto sucks due to the size of bay street sadly.
With a CA your best bet is to get into a research or ib role (preferably ER, since you need to know the products your selling) and transition.
When i first hit the pavement looking for a job I was under the impression S&T is the easiest jobs to get. True but goodluck finding a spot considering the avg size of shops are tiny. And I'm sure you don't want to deliver lunches and deal with admin bullshit for a year as a trading assitant or wtvr.
With a CA, get an ER role and transition in a year or two.
I'm sure a lot of americans on wso are going to disagree with me but thats the protocol in Canada from my experiences,
This - Canada is very different from US in terms of recruiting/breaking into the industry. This is good example of how it's diff.
Any insights to "internship-to-fulltime conversion rate" in regards to S&T in Toronto?
In a good economy, very high. It's pretty hard to not get a gig seeing as the interns classes are so small and give you such a leg up. Alot more FT jobs then internships.
That said 08/09, were harsh as shit.
my CA=mistake on my part thinking it's a gd starting point. I am currenlty interviewing for ER positions, like most said with the intension to move to S&T one day.
How easy is it to lateral once in ER?
Much easier to go into S&T after ER than vice versa. ER gives you all of the skills and then some for S&T (sales) assuming you can build relationships and convince ppl to like you and pay you. CA is a nice complement.
^There's no definitive path, but anything is possible once you're in and if you're good at networking and befriending the right people. ER is a great place to be, but also consider fixed income/commodities research. Equities S&T has the lowest headcount from what I hear.
BMO (Toronto-Sales and Trading) (Originally Posted: 09/26/2010)
I was wondering if anybody heard from BMO after their second round for Sales and Trading Rotation Position
CAD banks usually call their top picks (and for sure no-hires) within 24 hours. Those, who haven't received a call yet, are typically the banks' next line of choices (if their top picks decide to pursue other opportunities). Hope this helps a bit - best of luck.
I know one guy that received an offer and one woman that was turned down (although she could have been turned down after first round)
On a more general note, which may not be a surprise to anyone:
From talking to recruiters and incoming full-timers, who just got hired (Class of 2011), CAD banks have definitely cut their new-grad intake.
right,,,
cad banks do usually give decisions the day after...
i know for the firm i interviewed with (top 2 can. bank for S+T)
they gave offers to 4 out of 14 from the superday...(only one they are conducting for NY)
Manbearpig thanks, I would actually rather do fixed income research. the problem is that there don't seem to be many or any postings for this
HSBC Toronto S&T (Originally Posted: 02/07/2012)
I go to a semi-target in Canada. Just wondering if HSBC (Toronto) S&T has already wrapped up their summer recruiting. Thanks.
Interested as well. grotbags you do the online numerical reasoning ability tests as well?
bump... interested as well...
Anyone know if HSBC does any banking in Toronto?
There aren't many postings period for FO positions. Best to start networking and find an opening that way.
Toronto: S&T Boutiques (Originally Posted: 02/13/2012)
WSO monkeys:
Can anybody shed some lights on Sales & Trading at Toronto boutiques. Which firms have a good reputation on the street?
Thanks.
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