For Canadians: Toronto vs. New York, which city is easier to break into a boutique?

justforboa's picture
Rank: Chimp | 8

I am living in Toronto and I am looking to break into a regional investment banking boutique. Should I focus on cold-calling Toronto firms or New York firms?

Region: 
Canada
United States - Northeast

Comments (10)

Sep 4, 2012

New York. From stalking people on linkedin, what I have deduced is most of the boutiques (GMP, Blair Franklin, Canaccord-Genuity, etc) take on people from MFE (UToronto) program, or from the target UGrad schools.

By virtue of New York having much more boutiques than Canada, common sense says your best bet is there.

Ensure you have a competitive GPA for the Toronto boutiques, I had a sophomore (this summer) internship at one, they placed a lot of merit on grades.

Good luck.

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.

Sep 4, 2012
mhurricane:

New York. From stalking people on linkedin, what I have deduced is most of the boutiques (GMP, Blair Franklin, Canaccord-Genuity, etc) take on people from MFE (UToronto) program, or from the target UGrad schools.

By virtue of New York having much more boutiques than Canada, common sense says your best bet is there.

Ensure you have a competitive GPA for the Toronto boutiques, I had a sophomore (this summer) internship at one, they placed a lot of merit on grades.

Good luck.

Why would a NY boutique ever take a Canadian citizen that they have to fill paper work out to get when there are so many people with US citizenship vying for the same job? I guess there may be the odd instance where you are in the right place at the right time, but it seems like a waste of time to me.

Sep 4, 2012
nycstateofmind:
mhurricane:

New York. From stalking people on linkedin, what I have deduced is most of the boutiques (GMP, Blair Franklin, Canaccord-Genuity, etc) take on people from MFE (UToronto) program, or from the target UGrad schools.

By virtue of New York having much more boutiques than Canada, common sense says your best bet is there.

Ensure you have a competitive GPA for the Toronto boutiques, I had a sophomore (this summer) internship at one, they placed a lot of merit on grades.

Good luck.

Why would a NY boutique ever take a Canadian citizen that they have to fill paper work out to get when there are so many people with US citizenship vying for the same job? I guess there may be the odd instance where you are in the right place at the right time, but it seems like a waste of time to me.

I thought, since he was considering NY, he has dual-citizenship, or is a citizen there?

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.

Sep 4, 2012
mhurricane:

New York. From stalking people on linkedin, what I have deduced is most of the boutiques (GMP, Blair Franklin, Canaccord-Genuity, etc) take on people from MFE (UToronto) program, or from the target UGrad schools.

By virtue of New York having much more boutiques than Canada, common sense says your best bet is there.

Ensure you have a competitive GPA for the Toronto boutiques, I had a sophomore (this summer) internship at one, they placed a lot of merit on grades.

Good luck.

Firms like GMP don't give a flying fuck about grades for their trading interns. Much more focused on connections as well as fit.

Sep 4, 2012
Macro Arbitrage:
mhurricane:

New York. From stalking people on linkedin, what I have deduced is most of the boutiques (GMP, Blair Franklin, Canaccord-Genuity, etc) take on people from MFE (UToronto) program, or from the target UGrad schools.

By virtue of New York having much more boutiques than Canada, common sense says your best bet is there.

Ensure you have a competitive GPA for the Toronto boutiques, I had a sophomore (this summer) internship at one, they placed a lot of merit on grades.

Good luck.

Firms like GMP don't give a flying fuck about grades for their trading interns. Much more focused on connections as well as fit.

Macro, I think investment banking is implied. Also, for people as brilliant as you are; sure, grades are not as important.

<3 no homo

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.

Sep 8, 2012

I'm not a US citizen.

Dec 15, 2012

i'm in a similar boat to you, you mind PM'ing me with what you've found out about Toronto IBD? Cheers

Dec 15, 2012
justforboa:

I'm not a US citizen.

Then in terms of looking for a boutique job, relatively speaking, Toronto will be MUCH easier

edit: old thread but same idea

Dec 15, 2012

Don't you just need a letter of employment to be eligible for TN-1 status in the US if you are Canadian citizen? I thought that was very easy to get compared to H-1B visa sponsorship.

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May 2, 2013
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