Canadian IBD comps

A friend of mine who's worked at the big 5 IBD told me a 3rd year associate gets paid CAD300k base pre-tax. Is that about right (sounds a bit high to me)?

Any idea about the typical bonus range? Are comps in Canada the "high base/low bonus" structure or "low base/high bonus" like those in some parts of the world?

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Comments (8)

Jul 10, 2017

Interested in this too.

Jul 10, 2017

bump! wow if 300k base is true, that's realllyyy goood. Anyone have insights

Jul 10, 2017

Your friend lied to you, base at CDN banks are actually very low so comp is very much low base / high bonus (much more so than anywhere else in the world). For associates, base is about $100K with total comp starting at ~$200K for first year associates moving toward $300-$350K for an A3. I would bet anything the figure you friend told you is for total comp.

Jul 10, 2017

The only possible way thats true is if your friend recently lateralled from a US BB and negotiated a FX adjusted equivalent base (US$200k base for third years in US). I really doubt it though, that sounds like an all-in number.

Jul 10, 2017

A 3rd year IB Associate at one of the 5 Canadians makes anywhere from mid-high 200 to low 300 all in, depending on the bucket they are in.

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Jul 10, 2017

How does this compare to consulting in Canada? Talking roughly same levels - 1-3 years post MBA.
Also, are salaries dramatically different between Toronto / Calgary / Montreal (both IBD and consulting)?

Jul 11, 2017

Consultants get paid ~$150K out of MBA (Bain was ~$15K lower than McK and BCG 2 years ago, but I would assume they closed the gap) + small bonus. Salary progression at MBB is much slower than in banking so the gap then widens as you move up. For both banking and consulting, salaries and bonuses are exactly the same across Canada (but obviously Toronto has more opportunities, especially when it comes to banking).

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Jul 11, 2017