Research Analyst Salary in Canada

Hi everyone, 

I often see across different platforms that the salary of a research analyst is on average about 50K$CAD. However, many users here, with 0-2 years of experience mentioned that they are earning near 70K in the US. 

Is it because they are in the US and they have a better salary for that reason? It's a big gap if you consider the exchange rate. Does it have an impact on whether you are on the sell-side or buy-side? 

How much would a research analyst earn out of undergrad in Canada? I'm from Québec and my goal is to break into equity research analyst out of my BBA (4.15 GPA). 

I do have the opportunity to do summer internships in AM, what would be the best role I should try to get? 

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Comments (4)

Dec 1, 2020 - 8:11am

I have seen rating agencies' packages for research analyst be around 60k Cad. It's seems low on the surface but I believe the growth potential to be good. You will eventually be an analyst in IB or buy side, or consulting. 

  • NA in AM - Equities
Dec 1, 2020 - 10:30am

Comp in Montreal/Quebec is generally lower but 50k would only make sense if the shop was super tiny or is not interested in attracting strong junior talent (usually it's the latter because a tiny shop is not interested in hiring a junior analyst). Sell side comp is more standardized and generally higher early in your career. If you're an experienced hire (i.e. CAs), your comp will be around 120-150k. Comp for new grads will probably be ~100k. 

Having said that, you need to have a long-term perspective and forget about comp. There are more important factors to consider like the quality of the investment team (most important), investing style, your coverage, etc. If the choice was between 50k at Giverny vs. 100k at BMO, you'd be out of your mind to take the sell-side offer.

Dec 1, 2020 - 12:59pm

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