*CANADIAN* 2018 Investment Banking Summer Analyst mini Thread

I wanted to start a central thread where all Canadian undergrad students could comment and share inquiries, information, and concerns regarding investment banking summer analyst recruiting/timeline for summer 2018 in CANADA (Toronto, Vancouver, Calgary, etc)

Canadian banks:
RBC
CIBC
TD
BMO
SCOTIA
NBC

MM/Boutique:
Canaccord Genuity
GMP Securities
Blair Franklin
Origin Merchant
Evans & Evans

Globals:
BAML
CS
JPM
GS
Barclays
Evercore
HSBC
Wells Fargo

Best of luck to everyone grinding right now!

 

Tip for those who attend a target: Try to leverage your network to figure out who the recruiting captain is for your school. In terms of networking, I'd say associates and VPs should be your focus. Anybody higher probably won't give you the time of day, whereas analysts are open to chatting but have less pull. From what I've seen most recruiting captains are associates as well.

It's kind of late now, but high GPAs these days go a long way. Lots of kids with traditional "finance" backgrounds are getting passed up for kids who have a 3.8+ and demonstrated a bit of interest in finance(even if it started a month before recruiting season). Another piece of feedback my friends and I got as well especially with the Canadian banks is not to seem too rehearsed. If you attend a school with a lot of resources(alumni, mock interviews, prep guides.. READ: Ivey/Queens), its actually possible to over-prepare. Canadian banks care much more about fit as opposed to being able to memorize every question in a guide. In fact, interviews at Canadian banks are more like 70% fit/30% technical.

 

For non-targets, is there one associate/analyst who does all non-target school recruiting or does each non-target have its own person? I agree with everything except that I heard Canadian banks are a lot more technical than fit, since generally applicants have finance degrees as opposed to liberal arts in the states.

 

*Ivey and Queens, Rotman and Schulich are both bottom bucket schools with not nearly as much pull/prestige as Queens and Ivey. HIM at Mcgill as well is with Queens and Ivey but not Mcgill general finance

 

Done school however I wanted to chime in with my thoughts on IB in Canada. Ivey/Queens/Waterloo will be the best in terms of feeding you into IB/S&T IMO. Regional IB/certain programs like UBC PMF, University of Calgary and HEC Montreal will place you as well. I'd like to say UofT, McGill, and York Schulich will be runner up after the top 3 and everything else is pretty much a non target.

Side note: I forgot which student groups at Ivey/Queens have guides floating around the internet/their website but I believe the QUIC guide/the Ivey Capital Markets club may be the ones that appeared top notch.

 

I feel like Waterloo is definitely one of the feeders for S&T (CS and Engineering), and Big 4 for sure. There is a less significant presence in ib from what I have seen so far comparing to Queens/Ivey...

 
Best Response

As someone attending a "Canadian target", I'm actually quite surprised at how much the forum undermines names such as Rotman/Schulich/Laurier/UW. Sure if you're speaking BB/EB or IB in the US its really Ivey/Queens/McGill lights out, but if your goal is Big 5 or one of the independents in Canada, the schools above place just fine.

 

Agree with this fully, went to a Canadian target as well. Rotman, Schulich, Laurier and Waterloo all fly under the radar. The reason you don't see as many of these kids in IB is that there is way less of a push into IB at these schools, they tend to be big 4 feeding powerhouses.

In my opinion, if you go to one of these schools, have a good GPA, and become reasonably well informed about IB you should have no problem getting an interview in Canada, the networking and encouragement just won't be spoonfed to you like at Queen's/Ivey.

 

Just wondering where did you hear about BMO? I went to their BMOCM event and HR said they did not do accelerated program in Canada. They only might invite former SA or former co-op students for early interviews...

 

These invitational events are strictly for getting to know candidates/screening, and is by no means the main recruiting platform for target schools(might be more important for semi-non-targets). Are attendees at an advantage come recruiting season? Probably. Are you out of the running if you didn't get an invite? Definitely not.

 

0-1. Believe they posted this past summer, but not sure if they took anyone. Advice for those recruiting for Toronto: It's fine to chase the big names if your goal is to do banking for 2 years and dash, but if you're looking for a meaningful experience bigger isn't always better, especially when it comes to satellite offices.

Don't get me wrong, there are very legit international banks in Toronto(and growing their presence rapidly) such as MS, BAML, and Barclays, but there are also some that act more like a Canadian coverage office that essentially provides the firm access to Canadian capital markets but bring the execution on big deals to their NYC office. You might get your hands on a few syndicate deals, but from a learning perspective there's not much work involved.

 

I know most postings for the big 6 and some internationals close within the few days, but anyone know when they usually hand out interviews, and when interviews take place? Heard some say mid-November and heard others say early-November and also heard late October. Just wanted to get some clarification on this

 

Most apps at my school close around 23rd - 30th, which is when they get the bundle of applications. I've been told early November people start hearing back for first rounds and super days are mid to late November

 

How would going with one of the pension funds (CDPQ/PSP) in PE versus going to one of the satellite offices (CIBC/TD Montreal) affect your career trajectory? I know comp is lower at start, but isn't your day to day way better? And wouldn't it be easier to transition to MF PE after a top MBA?

 

Eh if you've been selected for an interview at one of the banks for a location but applications are still open for a different location, is it wrong to apply?

 

RBC, TD and BMO have given summer offers out already for their accelerated processes. They're still interviewing but are on a rolling basis. Don't worry if you miss accelerated, there will also be a regular round of recruiting for TD and BMO, and I believe RBC also.

Source: Interned at 1 of the 3 banks and am going back ft next year, and know kids who have SA offers

 

I'm in the same boat at UofT.

Just an Undergrad trying to get a job. Something you disagree or dislike about my posts? Let me know by PM'ing me or commenting constructive criticism.
 

curious what school you're from and how the first round was.

Just an Undergrad trying to get a job. Something you disagree or dislike about my posts? Let me know by PM'ing me or commenting constructive criticism.
 

I heard they hired for full-time analysts, but heard nothing about the SA positions.

Just an Undergrad trying to get a job. Something you disagree or dislike about my posts? Let me know by PM'ing me or commenting constructive criticism.
 

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Just an Undergrad trying to get a job. Something you disagree or dislike about my posts? Let me know by PM'ing me or commenting constructive criticism.
 

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