Hi guys,
Hoping to discuss buy-side comp in Canada, would be curious to hear everyone's opinions/personal experience.
I spent a few years in retail banking prior to starting as a first year analyst at a boutique firm. My base was 75k + bonus with no set % target.
Since, I have shifted (was laid off, packaged out) to one of Canada's bigger money managers (think large, publicly traded money managers, big 5 bank money managers). My base is now 65k with a target bonus of 10%, I feel this is quite low and wanted to hear what others think. Full disclosure- I do not have my full CFA and have less than 1 year of formal buy-side research experience.
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Comments (7)
bump..from what i hear it sucks in canada
True
Are you in equity research or sales?
Base is in-line but bonus is definitely low. I've never seen firms with that kind of scale pay bonus that low tbh (someone please confirm this as well).
I'm at a small firm in Montreal (<$1bn) with about 1-2 years of experience and my base is way lower than yours. This is a cold reality check. Things are much much worse at a smaller shop. Consider yourself lucky for landing a gig at a big fund in Toronto.
From what I've gathered, the Toronto/Montreal consensus seems to be "you're lucky to have a seat". This makes it very difficult to negotiate salary or bonus since they see you as a commodity/easily replaceable.
If I were you, I'd take the job and work your ass off. Hopefully, they'll recognize the hustle and pay you more.
Thanks, I appreciate the feedback.
I have a few friends with 2-4 years of industry experience. Consensus with them seems to be base in the 80k range with bonuses fluctuating a lot from 20-50%.
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bump.
I'm at a Canadian buy-side ER. large shop $10bn-$35bn (I don't want to get too explicit here).
Entry-level CAD 65k-75k seems to be in the right range. Bonus depends. I haven't seen 15%+ whatsoever.
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