How to break into Corporate Banking in Canada?
Hey guys, looking for some guidance on my path to breaking into corporate banking in Canada. I'm fully aiming for Bay Street, I have no intentions of working in the States so I'm looking for guidance on how to get into the Big 5 (RBC, TD, CIBC, BMO, Scotia)
Firstly, school-wise which schools are great for corporate banking? Everyone says to aim for Queens or Ivey for top finance positions but in the event that I can't get into these schools would McGill, Rotman, Sauder or Schulich be good enough?
They are lower ranked than Ivey and Queens but since CB is a less sought after position than IB would it even out in a sense?
Also if I were to rank the schools from best to worst, would this list be accurate?
1) Ivey (Western)
2) Queen's Commerce
3) Desautels (McGill)
4) Sauder (UBC)
5) Rotman (U of T)
6) Schulich (York)
Secondly, what ECs should I be aiming for if I'm pursuing corporate banking? Would it be generally the same thing as prospective investment bankers or are there specific things I should participate in?
Lastly, how difficult would you say is it to break into corporate banking as opposed to the general investment banking and PE route? Is it more/less difficult than getting a job in consulting? More/less difficult than getting into Big 4 M&A? Trying to get a feel for how much of an uphill battle this will be.
bump
I know a few guys in corporate banking working for BMO/Scotia/etc... and their backgrounds as far as school varies a fair bit. I don't think anyone really gives a shit which Canadian school you went to provided it isn't some tiny college. CB is not remotely competitive and even traditional ibanking (to an extent) in Canada.
Edit: lol @ angry Canadians.
Do you know what compensation is like starting out in CB?
RBC Toronto took 5 summer analysts this year (aside from a few diversity program pre-hires) from all over the country for IBD and it was limited to 3 schools so I think it has more to do with the gross inaccuracy of your statement - if you're not even Canadian how is your opinion remotely qualified?
Canadian here at one on your list... it really doesn't matter in terms of Canadian banks. If you want to go to the states, yes because not every school has recruiting events.
Thank you.
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