I'm currently a 2nd-year student at UofT studying finance (Not Rotman). During the past few weeks, I have been doing some research about my future career path and I found IB to be really interesting.
By doing some research, I found that the future of IB in NYC is way better than here in Canada. But I don't see how this is an option for me since they only select from target schools in the US.
Therefore I'm wondering what are some things that I need to start doing TODAY (or in the future) or things that I need to look out for, that will hopefully land me in IB.
Also, I'm currently looking for internships (with no previous experience), what are some entry-level internship positions that will help me with future IB job seeking?
Thanks in advance for any inputs on this, any advice/opinion/experience is welcomed!
.
I am doing my SA at a global bank in Toronto next summer, and I would agree -- it has definitely got tougher to recruit for US gigs from Canada (and even tougher if your school lacks alumni).
Here are things that I would rank as the most important for third-year recruitment:
1). Finance experience; try to land some kind of related internship in your first/second-year summer (search fund, MM PE, boutique IB, big 4 corp finance etc). As you are a sophomore, you should be grinding to find something --> even consider working part-time during the school year (which I personally did). If you lack experience, landing interviews for SA will be significantly harder.
2). Technical and Behavioural Prep -- study BIWS (breaking into wall street) guides throughout the school year. If you are recruiting for BB/EB's in Toronto, interviews are usually more technical heavy (i.e. paper lbo, brainteasers, etc).
3). Network
Note that recruiting has been accelerating year after year, with some offers being given in the winter/spring of 2nd year. The Big 6 in Canada usually happen later in the summer.
Edit, here is a good overview for the IB scene in Canada (although recruiting timelines are outdated --> and now accelerated): https://static1.squarespace.com/static/5e4b34c9647539551e2d45c7/t/5e507…
I have talked with upper years in my program, they all said something like this: the very first internship is likely going to be the least one you want, as most finance related positions values previous experiences heavily. So I guess my best shot would be the second or third internship, that is if they are telling me the truth.
Btw did you attend a target school by any chance? Or Canadian IB doesn't believe in that?
Yes I do attend a target. And yes, IB values finance experience heavily --> which is why you need some sort of related experience in 1st or 2nd year.
If you look for opportunities, they will present themselves. Working at a search fund, big 4, or even boutique is definitely possible before third year recruiting (and should be the goal).
Lots of search funds in Toronto you can work part-time at to get your feet wet in a finance related role. Would talk to students who also interned at the same fund first to get a sense of what your day-to-day responsibilities look like first. Don't want to be stuck cold-calling businesses all day.
I got in from Saint Mary’s U in Halifax (biggest non-target in Maritimes?), network, network, network and take off cycle internships.
You can nail the technicals but get rejected on the fit, so know your story, kick ass and take names.
I am, also have a good buddy at another CDN bank from same school
lmao - dude, you're a stud but not exactly living up to your username. :)
.
Dm ed you
Dm ed
I’m Canadian as well. Honestly, you’re going to have a tough time especially since you are not a Rotman student. My strong recommendation would be to explore all areas of finance and banking. Look at other roles - S&T, Corporate Banking, ECM, DCM, etc.
My friends that landed US IB jobs all attended target schools - think Queens/Ivey. I would suggest you explore the Canadian banks as well if IB is something you’re seriously interested. Especially RBC since their IBD in the U.S. is massive.
Network as much as you possibly can. Take advantage of the fact that you’re a student and people will take the time to offer advice.
Did you go to a target? What type of firm are you working at now and what internship did you had/suggest? Also could you please share some of your tips on networking? Sorry for the question chain, I'm really curious and want to plan ahead and ready to work hard. Thx
Incidunt debitis voluptatem autem quaerat. Vel ea dignissimos accusantium ducimus. Voluptatum sunt totam beatae sequi assumenda et voluptatem. Ullam ea voluptates illum dolore. Dolor dolores laborum accusantium.
Atque qui necessitatibus qui vero qui corrupti explicabo. Quia beatae nulla placeat minus maiores.
Perferendis maxime non ea voluptatem. Ullam aut quis doloremque dolor labore sapiente.
Est nulla voluptatibus sit commodi omnis ducimus. Et est numquam sapiente rem corporis minima aliquid. Corrupti fugit aliquam iste temporibus repellat. Quaerat est quam voluptas consequatur officia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...