May 08, 2020
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Onex comparable with USA UMM / MF, others about 100k usd lower
Obviously also compensated in CAD
Only associate level - VP has more variance
other firms are around 100k lower at what level? Do you have any idea of what 1st year analysts pay might look like then?
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Finance in Canada is really not as robust as the US...and there's a definite brain drain effect where most top talent goes to the US. It's a shame but anyways here's some anecdotal data? Before I started looking at Canadian hires for the position I am filling, I had talked to a few friends and consensus was that it would be easy to pick up a solid analyst at $65,000 - $80,000ish a year (CAD). This was from one MD @ an LMM iBank, another MD @ a credit union, and then another MD @ Roynat (LMM/MM?).
I'm about to bring an analyst on with significant experience at a medium-sized investment bank on for ~$80,000 CAD. The same hire when I last looked in the US, was about $100,000 USD (!!!), which translates into $140,000 CAD. Canadians are just as good as the US talent if not better that I had interviewed.
This is for my very small PE firm. Much more of an independent sponsor than anything. My guess is that a reputable LMM/MM is probably paying on the low side of what I mentioned.
Hope that helps.
Thanks for the insight!
Perhaps a stupid question, but we are just talking base salary here, right? If so, how much bonus would you guesstimate comes on top? And would it be all cash with/without a deferred structure?
Yes that's the base I offer and then I have a weird profit sharing mechanism that mimics carry too. My main ops team + this PE hire get access to it. That's definitely not normal though. I have a good idea of how LMM and MM carry works at US funds but no clue about Canada. Sorry I can't be more helpful with that part. Unlike traditional PE funds I only really want people the scale well and want to be with us forever. Still small and growing fast so no reason for someone to leave due to lack of opportunity.
Figures seem low here. I know pension funds pay close to 165-200 CAD all in. Although no carry except for very few.
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