IB VP Salary in Canada
Hi guys,
Can anyone give insights on the salary progression (Base and Total Comp) for a VP in IB in Canada ? Appreciate it !!
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For big 5, it's ~150 base with bonus of ~200k-350k. The base stays the same through the 3-4 years. For BB, I believe it's 250k base and bonus roughly in the same range. I'm actually not sure if the base gets bumped by 50k per year for BBs.
Am I the only one thinking that 150 base is kind of low for a VP?
No, I'm pretty sure most other big 5 VPs would agree.
I guess % wise, it's the same bump. Associates get 120 base (Scotia might be less) even in third year, so it's a 25% bump to 150k. BB third year associates get 200k, so a 25% bump puts VPs at 250k.
It definitely is low, especially since a couple of the EBs in Toronto pay their 1st year analysts base salaries of C$115k
Which EBs pay that? Lazard/Evercore? Is it because they pay in USD?
Canada does pay lower in general. But the pay disparity vs the US is a global phenomenon in general. Hence you see an exodus of executives in Europe and elsewhere, leaving for greener pastures in the US. Who knows how long that can persist.
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