It's been a while since the latest blog posts on Bay Street VS Wall Street have been up to date, so I decided to refresh the trend to get better information reflecting the current market condition.
I know Wall Street bankers will undoubtedly close more big deals, have better exit ops, and be in the second largest global financial hub, but I'm mostly interested in the salary and life quality aspects of both cities.
Say that we leave aside small firms, and we do not count in boutiques (because TO boutiques would distort our numbers); let's
Here are some questions on my mind:
Do Toronto bankers working in atake home as much as NYC bankers? Do you make as in TO as you would at GS in NYC? And would you make as much at RBC in TO than you would at GS in NYC?
**Are salaries similar in both cities only for junior bankers, diverging once you reach a more senior position? **
Because I'm guessing that if you can close more deals in NYC, you might receive a higher bonus at the end.
**If salaries do diverge reaching a senior position, how much of a discrepancy is expected? (I know performance is a critical aspect to consider, but let's try to generalize) **
**Can Directors and MD's in TO bring in 3M+ per year? **
Lastly, what would choose if you had to decide and why ?
Hope these questions can provide as much insight as possible for others seeking to discover the IB world in TO & NYC
Here's what I have in mind when I think IB salaries in TO (correct me if I'm wrong)
- Analyst : Base: 85K + Bonus: 55K-115K
- Associate: Base: 150K + Bonus: 115K-175K
- VP: Base: 200k + Bonus: 200K-320K
- Director: Overall: 500K to 1.5M
- MD: Overall: 1M to 5M (3M + for top performers)