MM in New York or BB in Toronto?

Qwop's picture
Rank: Chimp | 10

I'm studying at a Canadian target in Ontario and debating between a BB IBD position in Toronto (MS, BAML, Citi, GS, CS, UBS, BarCap, etc.) and a MM IBD position in NYC (WF, RBC, Jefferies, HL, WB, Baird, etc.). Long term career goals would definitely be in the US (preferably PE or Corp Dev.) but would it still be better starting out at the BB in Toronto regardless?

Edit: The issue for me is I already signed with the MM in NY a little over a month ago but just received a 1st round for the BB in Toronto (I think I have a pretty good shot given the number of contacts I have there). Would it still be worth reneging the MM in NY for the BB in Toronto if I end up getting an offer at the BB? What might be some possible repercussions of such a decision?

Comments (14)

Jan 4, 2017

If you want to be in NY then start in NY

Jan 4, 2017

I would suggest MM IBD in NY

Jan 4, 2017

BB in Toronto is better. You will lateral to NYC after without problem

Jan 4, 2017

Don't listen to these dipshits from college who have no clue.

Take the BB in Toronto as long as it's a decent shop. Easier to lateral to a US position down the road and even if you don't, you can still get great buyside exit ops to the US directly from Toronto that aren't accessible from MM IBDs. I've seen quite a few people from GS/MS/BAML/CS get solid PE spots in the US from Toronto. Use LinkedIn if you don't believe me.

    • 1
Jan 4, 2017

Agree with cats cradle on this one. Worked in Toronto and currently at New York BB.

You'll have a much easier time coming to New York bulge bracket, or go directly to a top buy side exit in the US or Canada, or may even decide to just stay at your Toronto BB (pretty good lifestyle and better comp if you work at a satellite office in Toronto). Depending on the shop in Toronto, many even let you go to New York if you want for your third year analyst / first year associate role.

Jan 4, 2017

The issue for me is I already signed with the MM in NY a little over a month ago but just received a 1st round for the BB in Toronto (I think I have a pretty good shot given the number of contacts I have there). Would it still be worth reneging the MM in NY for the BB in Toronto if I end up getting an offer at the BB? What might be some possible repercussions of such a decision?

Jan 4, 2017
Qwop:

The issue for me is I already signed with the MM in NY a little over a month ago but just received a 1st round for the BB in Toronto (I think I have a pretty good shot given the number of contacts I have there). Would it still be worth reneging the MM in NY for the BB in Toronto if I end up getting an offer at the BB? What might be some possible repercussions of such a decision?

Go interview all the way and see if you get the offer at the Toronto BB first. I assume this is for SA so the repercussions as not as bad imo, but depends how many alumni are in the MM NY office, the attitude of the MM firm, etc.

Shoot me a PM, maybe I can be more helpful that way.

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Jan 4, 2017

This account is fairly new so I don't think I can PM yet. The issue with the MM is that I've already spoken with around 30 - 40 people there ahead of group placement which would make it really awkward to renege this late in the US recruiting season and would definitely burn a lot of bridges with people there. I also just found out I'd be traveling the day of the 1st round at the BB and wouldn't be able to make it in-person which might put me at a bit of a disadvantage since I'd probably have to do it over the phone. I'm starting to lean towards just sticking with the MM and maybe try my hand at FT recruiting for the BB after this summer, but in the event that doesn't work out how much worse would it be for my long term career to start out at the NY MM?

Jan 4, 2017
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