Bad GPA at Canadian target, how to best position for full time?
Hi. I'm at a Canadian target with a 3.3 GPA and am spending my summer at a boutique in Toronto for the summer. I'm going into my last year of undergrad. My goal is to be in a Big 5 bank, bulge bracket, or a US elite boutique for full-time.
What can I do at this point to best position myself? I realize my low GPA will put me at an even more uphill battle at this point. I don't have any finance experience aside from my summer gig.
How To Recover From A Low GPA In Canadian Finance
The Canadian financial industry is much like the American one in that, the higher the GPA, the easier it will be to get noticed. While a low GPA means it will be much harder to get your foot in the door, it isn’t impossible.
- Networking is your best friend, now, more than ever. You will need to do a lot of work to get your name out there. Reach out to alumni from your school at firms you’d like to work with through cold-emails. Try to set up an informational phone call, or better yet, coffee chat where you can ask them about their career background, the first they work at, and advice on applying. It will also give them a reference point when you apply later on. Your name, if you leave a good impression, will be memorable.
- Improve your GPA. This should be obvious but increasing your GPA is essential. You still have a full year to do so and it really does make a difference. User @wikileaks shares:
For Canadian BB, you need a minimum 3.8 w/ experience for interviews these days. However, from experience, offers are given to the 3.90-4.00 kids. If your interviewing for US Firms in Toronto, the GPA rule applies less since they are more concerned about fit.
- Ace your summer internship. Since you were able to land a decent summer internship, use that time to do exceptional work and get noticed. The experience you get here will be extremely valuable, especially if you can leave with a few recommendation letters, or better yet, an offer to stay. User @kanon, Venture Capital:
What you need to do is ace your internship this summer - get the offer - use that as leverage, and if nothing else, you at least have an offer at a boutique and as a plan B can lateral into a larger bank as a 1st-year analyst.
Take a look at the break down of Toronto finance jobs from the City of Toronto.
Learn More About Canadian Finance Jobs On WSO
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What year are you in university?
The biggest thing to do will be networking - cold-email alumni from your school at firms you'd like to work at, and try to set up informational phone calls. Ask them about their career background, what they like about their firms, and if they have any advice on applying.
From a Canadian school, with your GPA, breaking into a bulge bracket or elite boutique in the U.S. will be extremely tough. Big 5 in Toronto should be hard as well but possible with strong networking. Of course, you should also try and bring up your GPA in the next few semesters.
At least you have an internship in Toronto for this summer - this was a tough recruiting season, so congrats!
It's my senior year so i feel like I'm pretty screwed. I am starting to network but not really good at it, any tips would be appreciated - I often don't know how to follow up after the first call or meetup
For Canadian BB, you need a minimum 3.8 w/ experience for interviews these days. However from experience, offers are given to the 3.90-4.00 kids
If your interviewing for US Firms in Toronto, the GPA rule applies less since they are more concerned about fit.
GL, I would try S&T if your more personable.
This is not true. An individual at my school got interviews with 5 Canadian BBs with a sub 3.7 GPA (may have been a 3.6); however, he had tenuous experience to begin with. Good luck, op! Please answer the aforementioned post about the interview.
^ how true is that? about the 3.8+
OP what Canadian university do you go to?
Get networking
wtf is a canadian target?
I go to a target university in Canada - think Mcgill/Western/Queens
Is the boputique paid? How tough was the interview? I am a sophomore, even though it is late in the game, I am hoping to land a boutique IB gig (unpaid). how did you go about getting the internship? how technical was the interview?
thanks.
This!! I would like to know the answer. I'm not enjoying my current internship, and would accept no pay at a boutique in Toronto.
Sent you a PM. Is a 3.3 GPA hopeless? My GPA was 3.7 in my sophomore year if that matters at all.
mhurricane: key word.. your 3.7 GPA got interviews, did he get an offer? I did recruiting at McGill this year as an associate for a large Canadian Bank, and we didn't HIRE a single candidate who didn't have a 3.8...
Who are you kidding US BB pay $90-95K base + 50%-100% Revenue, while Canadian Large-Caps pay a bit less... you don't say we can't find a well-rounded individual with a 3.9GPA?
Word of advice, If you have a 3.3 GPA just give him on investment banking for Canada banks, it's the f------- truth If you have a 3.5 GPA give up unless your dad is MD at some bank.
WikiLeaks: Yes, he did get an offer. Damn, if that is the truth, I feel truly demoralized.
Edit: Actually, after reading your posts, you're a liar.
Still hope for the OP, and hope for people who have 3.7(me).
If you go to Ivey, a low gpa might still be doable. You getting GS/MS/CS/Citi/BAML/etc in Toronto is an extreme stretch, but it may still be doable to get a large 5 bank - assuming you knock your technicals and everything else out the park. Because there's more recruiting opportunities at Ivey than the other 2 targets you have more shots at interviews, but the gpa situation is likely a lot less forgiving at Queens and McGill where there may be fewer places that recruit (and by that I don't mean all the toronto banks both local and US, I mean that Ivey's FT recruiting would have places like HL, Jefferies, larger boutiques like Greenhill and Evercore... so effectively some of your more stellar in-school competition make favor those over local positions and you may get interviews that way).
What you need to do is ace your internship this summer - get the offer - use that as leverage, and if nothing else, you at least have an offer at a boutique and as a plan B can lateral into a larger bank as a 1st year analyst.
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Of course its doable getting into IBD w/o a 3.8 GPA, but the odds are against you, that's all. I know sub 3.8s who are in IBD, and they are exceptional all around to make up for the 3.8, but in general, you always have some exceptional individuals with 3.8, so if your not a 3.,8 your FKED. If you have a 3.7 okay that's not too far away from 3.8, but when you go against a 3.98 it's a no brainer that the 3,98 is exponentially better than the 3.70, but a 3.98 is not exponentially better than a 3.85.
wiki, what do you suggest people with sub 3.8s that want to go into banking aim for then? Are S&T and equity research roles still viable?
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