First Year Analyst Compensation in Canada

Recently an MD told my friend that if he works with him at one of the Big 5 Canadian banks that he will pull in from 125-175k in his first year. Is this accurate can you make 100k bonus in year 1 ?

Also, for the people who are/where analyst what did you make in your first year (all in) for Canada or the US.

Comments (18)

Apr 21, 2010

I would be very surprised at those numbers. Base for Canadians is 65-70K, globals go from 75-95K. The bonus percentages obviously depend on the year but I doubt very much that a Canadian would pay 1.5x base as bonus... I may be wrong on that front though.

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Apr 21, 2010

It's possible. I highly doubt it, but you would be surprised at the amount of influence certain managing directors have.

Apr 21, 2010

I believe Canadian banks did pay out close to $100k for first years in 2006, so there is precedence. Also, given that Canada's economy emerged more or less unscathed from the crisis, banker pay has been almost a non-issue for the general public, so there isn't any political pressure on banks to limit pay (although some banks have changed pay structures for Director level and higher)

That said, $100k is optimistic but that range is about right. My MD also provided me with numbers close to that, saying to expect 80-120% bonus.

Apr 22, 2010

Can anyone else confirm that TD BMO RBC Scotia and CIBC pay aprox 100 % of base in Canada ?

Apr 22, 2010

wtf seriously!?!?!
omg i wanna work in canada!

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Apr 27, 2010

In ontario,,,,, $125k gross in 1st year. it's $84k after taxes. yes folks. 1/3 of your pay is gone in taxes

Apr 27, 2010
jrotmensen:

In ontario,,,,, $125k gross in 1st year. it's $84k after taxes. yes folks. 1/3 of your pay is gone in taxes

Thanks jrotmensen, i thought there were more Canadian bankers on this site

Apr 27, 2010

Not a banker myself (in fact, a high school senior, haha), but a family friend is a 1st year analyst at Big 5. I overheard those numbers from conversation between my parents and her parents.

Apr 28, 2010

I can confirm those number for the big 5 Canadian banks (although TD is slightly higher)...

Apr 28, 2010
youngmonkey:

I can confirm those number for the big 5 Canadian banks (although TD is slightly higher)...

the 125k to 175k?

Apr 28, 2010
youngmonkey:

I can confirm those number for the big 5 Canadian banks (although TD is slightly higher)...

I know TD pays a higher base( I had an offer from them), but i was under the impression that they pay slightly smaller bonus to compensate.

Apr 28, 2010

Yes, all in for first year ~130. About the TD smaller bonus I don't know. And for the BB offices the salaries are 130% - 150%.

Apr 28, 2010
youngmonkey:

Yes, all in for first year ~130. About the TD smaller bonus I don't know. And for the BB offices the salaries are 130% - 150%.

Sounds reasonable unlike the 175k mentioned above. Dont think any of the Big 5 pay higher that the BBs.

May 1, 2010

I summered and am about to start at one of the Big 5. I heard 2nd year top bucket at both TD and BMO eclipsed 170k for 2008/2009, so your range sounds about right.

It's fairly well-known that Big 5 have outpaid the globals in recent years, due to FX, retention concerns, and conglomerate woes at many of the globals. Canadian investment banking is a pretty profitable enterprise for the banks with exposure to the hot sectors (in Toronto, metals & mining).

Dec 14, 2010

How do 1st and 2nd year analyst bonuses at RBC in New York compare to their bonuses in Toronto?

Dec 15, 2010

RBC top bucket 1st years just got 25k stub for 1/3 of year (Jul - Nov). No way NY is that high.

Dec 15, 2010

Does anybody know what New York got then?

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