IBD Associate A2-A3 - Canada (U.S. MBA, MM exp) - Recruiting Tips, Compensation

Messagevik's picture
Rank: Monkey | 64

Hey guys,

I'm looking for A2-A3 positions in Toronto (Q1 2016). Any insights into current demand for bankers at those levels and comp range at the big 5 and U.S. BBs? Any other advice, drawing on differences between Canadian and U.S. IB industries?

Background: Canadian undergrad, top 4-6 U.S. MBA (think Kellogg, Booth, MIT); post-MBA ~1.5 yrs Associate at top-MM in Chicago office and ~2 yrs corporate strategy and development at global tech firm (by Q1 2016), would like to return to Canada in an IB role.

Thanks.

VS

Comments (9)

Sep 17, 2015

Nice. Another homecoming. Associate salary at the large five is ~C$100k and total comp for an A2 is in the ~C$290 range. A3 is ~C$330 (information is a bit dated and lots of recent volatility).

Canadian industries are heavily weighted towards (as expected) O&G (Calgary), Nat Resources (Vancouver) and Financials (Toronto).

Often, banks will have a diversified industries group (DIG) which is composed of some mix of the following (depending on bank) real estate, CME/TMT, industrials, CRG etc. (anything not of the primary three categories above).

Sign up for Vlaad and Co's Friday email newsletter, Bill's Buzz. They have a good pulse on what is happening in the market.

Toronto HH's to look into: Vlaad and Co, Thorek Scott, Mason Group. Personally, I wasn't impressed with Michael Page. They are also in the U.S. so I feel like their Canadian practice doesn't get much love / focus.

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Sep 17, 2015

Awesome...thanks a lot for the commentary and suggestions @TorontoMonkey1328

Sep 20, 2015

I think the estimates for pay are a little high from TorontoMonkey. From my experience its more like ~$270k for A2 and ~$300k for A3 for the big5. I hear the US BB's pay more, but I'm not sure exactly how much. Also the DIG teams don't do real estate and TMT at the big5, those industries have their own respective teams.

Associates seem to be in very high demand right now in Toronto. Definitely the IB position most sought after at the moment, though mostly on mining or O&G teams. I don't think you would have an issue finding a job in Toronto.

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Sep 20, 2015

Thanks @WorkWorkWork, very helpful. Are you currently in an IB role in Toronto?

Sep 22, 2015

I am. Feel free to PM me if you have anymore questions

Sep 23, 2015

I have good friend working a a BB Toronto office as a 1st year associate. His comp is pegged in US$, so he makes bank right now

A0 (August to Dec) - Base: C$140K, Signing bonus: C$60K (around US$50k), stub bonus: C$50k
A1 - Base: C$170K, expected bonus: ~C$130-150K

Sep 23, 2015

2015 MBA graduate here from a top Canadian school... I don't think IB Associates are in high demand right now, maybe if you're experienced enough, maybe.

Looking back at OCR in Fall 2014 for 2015 incoming Associates (i.e. A0), hiring was mediocre at best.

Oct 25, 2015
kblade:

2015 MBA graduate here from a top Canadian school... I don't think IB Associates are in high demand right now, maybe if you're experienced enough, maybe.

Looking back at OCR in Fall 2014 for 2015 incoming Associates (i.e. A0), hiring was mediocre at best.

That, yeah. There's a big difference between experienced hire/lateral recruiting and straight out of school recruiting. I highly doubt at this point that anyone gives a shit where he went to school. They're going to care more about his work experience and deals.

Oct 25, 2015
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