Most Chill Groups in Toronto
What are the most chill IB groups/banks in Toronto?
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BMO Metals and Mining
LOL. In all seriousness though. At BMO Toronto, the chilliest group in is probably Tech & Business Services. The funny thing is that they sit pretty close to the mining bullpen so the mining analysts get to watch the tech analysts leave everyday by 11pm while the mining analyst slave away into the wee hours of the night
Are there any mining groups in Toronto that are chill?
Is it actually this bad in their group? What's the upside of working for BMO M&M in terms of comp/exit opps? Is it worth the 2 years of slavery?
In my opinion, it isn't. Although you get a lot of reps, you will also get plenty of reps at the other Canadian banks (and even boutiques). Unless you LOVE mining, then maybe it's worth it but even then I don't think it is. I had a buddy that worked in that group and every time I saw him, he looked horrible lol
I'm guessing the bonus is going to be really good just based on all the deals that the team does but honestly have no idea.
Mining exit opps are a bit different than other industries given there aren't as many PE options. Some will exit to mining PE, but most funds are based out of London or Aus, so more end up going to corp dev or AM/HF.
A well-regarded group like BMO would give you better odds at landing at a larger producer (ABX/AEM), with less prestigious groups feeding into intermediates/juniors/developers/explorers. Mining corp dev lifestyle can be pretty cushy (when not on a live deal) and grossly overpaid when compared to other sectors.
Some will also go to AM/HF, with many asset managers in Toronto having mining/natural resources teams.
I would think FIG would be pretty chill. Buddy was at a Big 5 FIG group and his lifestyle was pretty awesome.
I’ve seen you mention this multiple times. Which bank?
Hearsay from a friend at TD
I have heard BMO FIG is chill
Every Big 5 Sponsors group
Multiple posts saying this. I would've thought flow would be pretty robust given the amount of dry powder out there. Any insight? Is it because they all have US sponsors groups? Assume those are getting crushed.
It's certainly busy don't get me wrong but on any given mandate, sponsors is not taking the lead on the model - even if it's an LBO. It would almost always be M&A. On general coverage/pitching there can be a bit of work but no blow your brains out type analysis. Most of the value add is the seniors and their connections to the major PE players.
As a result, the workload isn't nearly as heavy and the work you're doing is mostly just industry pages/helping support the coverage team rather than anything in depth. Maybe my bank did things a bit differently, but consensus from people I know at other sponsors groups is that they aren't leading transactions even if it was brought in by that team.
Source - I used to work in a big 5 sponsors group
RBC Toronto has a few relatively chill groups. They in general have a more chill culture than they get credit for actually.
RBC VP spotting
(sweating) Nonsense, why would you say that?
What are the sweatiest groups at RBC?
I heard that RBC sponsors is chill. RBC DCM is also OK.
National was fine a couple of years ago, not sure now
Setter Capital (jk)
Vomit
Vomit at least has some residual nutritional value
Anyone know how sweaty power and utility groups are?
CIBC's is super sweaty (but also very good especially in renewables)
Sweatier than average. Complex scenario modelling, slower moving transactions.
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