BMO Mining or Lazard M&A?

Received an FT offer from both but not sure which I should accept? I know some of you will just jump to Lazard but hear me out - - BMO has had the best mining group in the world for decades and the mining opportunities that would come from it are second to none. Also BMO Mining comp is very high. However I've heard the culture there is very negative. All of this considered, I appreciate any advice on what offer I should accept

Comments (17)

  • Intern in IB-M&A
Dec 17, 2021 - 5:11am

All jokes aside it seems like an interesting business type and a space that will continue to be lucrative as demand for metals continually grows. Also both my grandpas worked in a mine

Most Helpful
Dec 17, 2021 - 11:30am

Mining is very much an acquired taste. At the junior level, even basic things like comps are grindy. I won't speak for others, but for me, any interesting aspect of mining (macro, geopolitics etc.) is completely washed away by the mind numbing aspects like trolling through dry tech reports, drill results and things of that sort. 

Mining is also super niche. The fundamental skill set is not super transferable.

Culturally, BMO Mining also has, or at least had a reputation. Am a little out of touch so won't speculate but probably want to look into that.

  • Intern in IB-M&A
Dec 17, 2021 - 2:50pm

Have heard this too but curious as to what is meant by this. I'm okay with long hours but don't want to work with rude senior bankers.

  • Analyst 1 in IB - Gen
Dec 19, 2021 - 6:36pm

BMO Mining's culture and hours are probably the worst in the country by a wide margin. If you are okay with being abused for 2 years and have a passion for mining, then by all means take the offer. Ton of stories are floating around about BMO Mining

  • Analyst 1 in IB - Gen
Dec 20, 2021 - 5:32pm

Some I've heard of are:

- Associate sticky noting rape threats on analysts' computer if they weren't at their desks when checked

- Multiple analysts over the years leaving within 6 months and having no other job lined up

- Having to sleep under desk during major deals

Dec 19, 2021 - 9:47pm

Can't go wrong with either one, but to clear up some things about BMO. Sure, mining is specialized, but it would give you transferable work habits / skills that would also be valuable if you plan to exit (just as Lazard would). Firms, especially in Canada, won't disregard an applicant from BMO mining just because it's "specialized/niche" - they all know the good group rep. Also, from the experience of friends, BMO M&M culture is not even close to as bad as it was in the past - the comments about a harsh culture are often legacy from when it really was. Another thing about BMO mining is that you'd be working on mega deals at times which won't be the case in some groups in Toronto. Lazard will of course have more cross-border deals, but seems like you intend to stay in Canada.

Haven't heard much about Lazard M&A culture but would talk to juniors in both groups if you can to see what their experience is like.

  • Intern in IB-M&A
Dec 19, 2021 - 10:43pm

Thanks man! Honestly my gut is telling me that BMO is the right choice

  • Analyst 2 in IB - Cov
Jan 9, 2022 - 10:35am

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