Hello all, I am an incoming Corporate Banking Analyst in Canada. I want to get a feel for what to expect in terms of salary / bonus and see how the different banks stack up. Please share any and all relevant info:
Position:
Bank:
Location:
Base:
Bonus:
| +173 | The "Not So Obvious" things that get you a return offer? | 20 | 10h | |
| +108 | Is my life over after not getting GS? | 27 | 1h | |
| +70 | Best IB group on the Street | 31 | 50m | |
| +58 | BIG FOUR ARE PARADISE | 15 | 12h | |
| +50 | Thoughts and tips on how to speak like an investment banker. | 25 | 13h | |
| +48 | Tell me one good reason why Jefferies isn’t going to be a top bank in the next 5 years | 23 | 4h | |
| +36 | UBS Outlook | 28 | 1d | |
| +34 | How to deal with egotistical team? | 6 | 3d | |
| +33 | Highest Paid Bankers in Toronto? | 51 | 11h | |
| +24 | MM incredibly underrated? | 18 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I'll get it going:
Position: An1 (incoming)
Bank: Big 5
Location: Toronto
Base: $75,000CAD
Bonus: ?
This doesn't sound like corporate banking - I thought corporate banking base at BMO capital markets was in line with the investment bank? They roll in under the same heirarchy.
MVPrimate is right.
Yes, CB is under IBD umbrella but bases are different. CB bases are lower, and the difference gets greater at the associate level.
Source: Have friends at BMO in CB and IB
This doesn’t sound correct - my best friend was paid 85k annualized as a Summer Analyst in CB for BMO - not in Toronto either.
Is it because you are under Trading Products group?
Scotia even pays their interns 80k annualized. I believe CIBC is at 85k FT An1
No, not under trading products.
Interesting, maybe BMO base is slightly below market for CB An1. Can anyone else confirm if CIBC is 85k base for An1 ?
Interesting...my friend at BMO in CB was getting the same base as bankers (I had friends in both groups). Can also confirm the same for CIBC. maybe it's changed, not sure. BMO IBD base got a bump last year for associate, maybe the CB didn't though.
worked in CB previously:
Position: An2
Bank: Big 5
Location: Toronto
Base: $80,000CAD
Bonus: $35,000CAD
Can anyone confirm the bonus for An1 at BMO? 75k base is accurate but curious about the bonus and salary progression
I got around $15USD both years as analyst. Most analysts I spoke to were around that number, others slightly more. AS1 base in strong groups was around 40% from what I heard (so think $40-$44 on the 110 base, 150 all in). Definitely less in weaker groups. All figures in USD as I was US based.
Got it thanks for sharing. I am assuming your base was also 75? Also, do you think the numbers would be similar for Canadian office? And I know it is not discussed enough and it's hard to tell but curious to know if you have any insights on salary progression till VP/MD level at bank like BMO? Thanks
I think I had $70, might have been $75, but honestly can’t even remember. Would have to pull up my offer letter. I am pretty sure the comp is similar across US/Can.
Unfortunately I don’t have much insight on VP/D/MD. I know that the pay discrepancy grows between IB/CB the higher you go. Cushy job tbh. Knew seniors who must have been pulling $350 and worked 40-50 stress free hours a week.
Analyst Year 1: 60k + 5k + 6k = 71k total Analyst Year 2: 66k + 5k = 71k total Associate Year 1: 80k + ?? (covid will probably screw me out of a big bonus). Probably 90k total.
Bank: International Location: back and forth between Toronto and Tier 2 City
No way this is true corporate banking. This must be more commercial focused.
Associate at 80k base? LOL
If you knew what international bank I was at - it would all make sense lol
To be fair I got 12k for relocating and got promoted fairly quickly (1.5y)
Not me but super close friend of mine:
Position: An1
Bank: BB
Location: Toronto
Base: $85,000
Bonus: $30,000
BMO AN 1-3 is $70/$80/$90 USD with bonuses between 15-30. AS1 is $110+(30 to 50) per a friend that works there
was this for CB?
I was under the impression BMO has a flat base of $75K for An1-An2. Maybe someone can correct me.
Scotia pays $90K Base in the US for all FO Analysts but no raises.
Bonus is... a black box.
Associate base is $125K
I heard that they do market adjustments every 3 years or so. It's expected that next adjustment will get Analyst base to $95K or $100K and Associate base to $140K or $150K. (Previous adjustments were $10K and $25K each, respectively.)
Relevant link
https://www.wallstreetoasis.com/forums/canadian-banks-bonus-megathread
I was a 2nd year commercial banking analyst making 80 base + 15 bonus, and end of 2nd year in commercial banking I was offered 90 base + 25 bonus. How can corporate banking salaries be so low if it’s so much more work than commercial banking?
Someone please give me some honest thoughts here.
Wanted to provide an update - BMO raised base pay for Canadian CB analysts to 90K this past summer. Middle bucket bonus came in at ~20% of that (~$18,000) for total annual CB An1 comp of ~$108,000 (not including signing bonus).
Qui magni quidem dolorum sapiente. Fugit nam quod ratione necessitatibus omnis dolores blanditiis eaque.
Et sit corporis impedit reprehenderit praesentium molestiae dolorum vero. Est occaecati mollitia voluptate voluptas. Quasi numquam earum aut et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Sit qui non numquam in sit laudantium saepe. Cupiditate sed delectus rerum. Aperiam doloribus quas quia pariatur dolores. Voluptatem iusto commodi repellendus natus nihil expedita sed. Debitis ea deleniti laboriosam amet eum eos nemo. Reprehenderit incidunt quidem consequatur minus reprehenderit.
Officiis neque odio repellat et aut temporibus tempora. Quis optio sed voluptatem cupiditate facilis. Cum omnis sunt qui ut unde dolor omnis.
Nostrum aliquid occaecati in et quas sequi perspiciatis. Repellat laudantium quis aut in nisi natus.