Hi everyone,

I was going through the forum threads looking for research associate salaries specific to Canada, but didn't seem to find anything that wasn't dated or too general (not firm specific). I like to think that I have a pretty good idea of what the average base and bonus are for a first year research associate ($65-$75 base + $10-$15 bonus), but I would be interested to getting a couple of shop specific numbers, anything from the big 5 RBC/Scotia/TD/BMO/CIBC to smaller shops Cormark/Canaccord/Byron/Paradigm.

Thanks for taking the time to participate and hopefully this will become a reference thread for the future.

Comments (15)


have you tried glassdoor??

Financial Modeling


Are you referring to fresh out of undergrad? I have not seen many undergrads land a position, mainly because there is so little turnover in this industry and most jobs are taken by laterals.

In Montreal, it's around 30k-50k base (dead serious) for investment funds.. PSP is the exception at 70k, I`m guessing sell-side is somewhere around 55k at Scotia, RBC, BMO, and likely 45-50k at NBF, CIBC, and 35-40k at Canaccord, Laurentian Bank
In Toronto, at a well-known fund / sell-side firm my guess is around 55k-65k base

I think a 15k bonus is a bit much.. That's what BB in NYC pay as a bonus as a 1st year.


In Canada it depends on the city. Where i'm at we are $90-100k base and our bonuses are between $50-100k. Prior to this shop only had ER.


If you don't mind me asking, in which city are you?


sent you a PM


Hey buddy, could you also send me a PM?


Hey buddy, could you also send me a PM?


Those numbers are grossly low. Definitely not what my friend is earning at RJ in Vancouver.


Don't group Byron with Canaccord / Cormark / Paradigm.. Byron is about dead.

Canaccord is a huge brokerage and should be compared with GMP. Cormark and Paradigm are of similar size.


Heard/read that base should be comparable to what they would pay to investment banking analysts, but bonus in definitely less (perhaps half)


I'm a first-year associate at a Canadian-based bank at their branch in NYC. PM me if you'd like more info.


I know someone who just started with a big 5 bank and his base is 90-100k with bonus expected to be ~30k. He had a few years experience with Big Four.
Does anyone know what the salary increases are at the big 5 banks?


I am a 3Y student a top undergrad program in Canada (think Ivey, Queens, Schulich, Rotman).

I have experience as an SA in AM in my 2Y.

I just signed at a big 5 bank in ER and will be making 66,700 pro-rated. Is this normal for SA?


You live in the Six?

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