Advice on becoming an Analyst in a Canadian Big 5 Firm?
A little bit about me: I'm currently going into my last year at Schulich and I currently have a 7.5/9 GPA (3.3 - 3.4 or a 3.55 when converted using the Canadian GPA conversion scale).
I'm currently attempting to get a job as an analyst or any decent job at a Big 5 bank and I don't really have any great ideas on how to get about that.
During the first three years of my undergrad, I didn't focus too much on the networking and clubs aspect of school and I'm currently finding myself in a rut regarding what I should do after graduation.
A few other points about me. I have interned in a medium sized (100M sales) firm as a junior accountant and a software developer for two summers and I have recently passed the CFA level 1 exam.
Any tips or advice on getting to where I want to be?
What kind of analyst position are you looking for? Sorry to be blunt, but a "decent job" is likely too ambitious for your background/resume... maybe start at a mutual fund instead? Or take a non-analyst position at a bank.
Canadian banks will usually want a 7.8+/9 on your scale. If you want a career in finance, your best bet would be to go into accounting and see if you can transfer from there. I hear your school is quite good for accounting.
Even though all posts above are correct, I would personally say you still have a good shot. The only way I would play this would be to try and get an internship, rather than a FT spot. Also, the chances of landing something in the Big 5 may be difficult (unless you can master your technical and behavioral interviews) and apply to other offices like Vancouver, Calgary, Montreal, maybe Toronto.
That being said, I would take a different approach if I was in your shoes -- I would be reaching out to MM boutiques in Toronto for an internship first (a lot of these are unpaid but it's a good 4-month investment if you want to break into the bigger shops). I know a few boutiques that would be willing to interview you for sure, so you can PM me and I can give you some names that you can reach out to via Linkedin.
From what I know, it is illegal to have someone intern for any business without paying them in Ontario (shadowing is a different story). I'm always upset when I see no-name PE firms in Toronto posting unpaid internships, b/c I know kids looking for a shot are applying by the 100s.
Yeah you're right, but what difference does it make? I have friends and know people that have taken unpaid internships to break into the industry.
Hey, can't PM anyone yet. Just made this account. Would there be a chance to take get a decent front or middle office job paying about 50-60k with my current credentials without having to do an internship?
Yes you have a decent chance at that. You essentially have two options at the moment if you want to break in to the industry. You either take a middle/back office job and transfer to front office or you do accounting and make the switch sometime down the road. I hear big 4 accounting pays 50-60 out of undergrad.
In Toronto it's has been 45K historically. Heard it's going to drop in the future (unconfirmed though).
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