Revised Question: BMO Toronto - Metals & Mining or M&A?

AsianGirl's picture
Rank: Chimp | 13

New Question:

Hey guys, thanks a lot for the ideas on the Metals & Mining Group! I am now confident that it can give me the dealflow and experience that I want.

Another popular group at BMO is the M&A group. I heard they work on mostly Metals & Mining deals as well. Do you happen to know how well regarded BMO Toronto's M&A group is?

I think M&A work might be more interesting because they not only cover a lot of Metals & Mining deals, but Oil & Gas ones as well. It's also probably easier to jump to PE later since I won't be as pigeonholed. That said, It sounds like BMO is most famous for its Metals & Mining - is this correct?

Thanks again!

Old Question:

Hello fellow primates,

I am a senior in college and recently received an offer from BMO Capital Markets in Toronto. I am most interested in their Metals & Mining group, which from what I heard is their top group. Most people I met during the interview process come from that group, and they seem nice and collegial.

I don't know enough about how well regarded the group is. Some posts here suggested "it is GS equivalent" - is this true? Will it be very hard to apply to U.S. top business schools from there?

Besides, many posts commented that the hours in BMO's Metals & Mining is "brutally scary". Could anyone please give me some specific hours number/range? 100/week? 120/week?

Thanks a lot!!

Comments (21)

Oct 2, 2010

I heard of, but cannot confirm, an analyst who works 830 - 2am everyday weekday and leaves by 6 on the weekend.

Oct 2, 2010

That's bullshit.

Their hours aren't as bad as people make it sound. I am close with someone there and he gets off 9pm regularly and has at least 1 day off on the weekend.

Oct 2, 2010

They definitely do work more than the average ib group in canada. But it's a great group of people working there. I am friends with a few analysts in that group, great guys.

Oct 2, 2010

I'm from Toronto,

The BMO Capital is now one of the world's largest mining equity research Groups.

The hours aren't ridiculous but they do work a bit longer than others. Like ShawnFire mentioned: work normally ends around 9pm. And you shouldn;t have problems applying to top US business schools from here

Oct 2, 2010

you'll be fine chap

Oct 2, 2010

work ends at 9PM ? where do you get this shit from ? Shawnfire are you close to the assistants there? BMO is top ranked for Metals & Mining. They have strong deal flow and yes you will have ample oppourtunity to go anywhere after that. they all get picked up after their few years.

as for the hours, you will not leave before 10PM ever on a workday. kids have pulled consective all nighters thus its repuation for being scary. its really hard to say because of ebb and flow but expect aprox 90

Oct 2, 2010

I spoke to an analyst at TD Securities in TO who works in the Mining group, he mentioned the hours in the range of 90-120. Also mentioned that other groups are more relaxed and work around 70 - 80.

Oct 2, 2010

I agree, there's no way IBD analysts are off by 9. I know in US offices,BMO analysts work regular banking hours and are lucky to get out at 10.

Oct 2, 2010

haaa haaa that's a fact my man

Oct 2, 2010

these posts are ridiculous

Oct 2, 2010

Hey guys, thanks a ton for the replies! It seems that we are having different ideas about the hours here, but generally agreeing that it's a great group. :D

Do share if you have any more information about the group though!

Oct 3, 2010

I'm Canadian and a buddy of mine just finished SA at BMO and is going back full time. He says the hours are on the higher side of the numbers mentioned here so don't expect much free time. They definitely have one of the stronger groups in Canada and you'll get good experience but you'll work really hard for it. I don't think call it the "Goldman Equivalent" is accurate since the BB are highly respected in Canada (just like everywhere else). The difference with BB in Canada though is they do fewer deals but the ones they do are big while at at a Canadian Bank you will get an entire range of deal sizes.

Best way to describe it is to say its a top group in a good bank. Historically, RBC and CIBC top the league tables in Canada and BMO (as a whole) is usually right after with TD and Scotia.

Oct 3, 2010

If you're from a US school, why do you want to work in Toronto?

Oct 3, 2010

Thanks, gobstopper!

@ShawnFire: personal reasons :)

Oct 5, 2010

bump

Oct 7, 2010

go to m&a

Oct 9, 2010
ShawnFire:

go to m&a

So informative! Thanks for your valuable input. I'm sure she appreciates it.

Despite all the positive and detailed remarks about metals and mining, you have undoubtedly persuaded her to go to M&A thanks to your thorough and convincing argument.

Oct 9, 2010

hey shawnfire, can i ask why you think m&a is better? and in that case is cibc more prestigious? thanks!

Oct 9, 2010

AsianGirl - From what I've heard, CIBC's investment banking team is going through some management changes. Whether these are good or bad remains to be seen. Also, a couple colleagues and recruiters told me that the firm asks analysts to do a MBA after their 2nd/3rd year analyst stint before coming back. I heard this 3-5 months ago, so I don't know if there's any changes to that policy. Maybe someone can comment on this.

As one senior banker from one the large Canadian banks told me - if you're joining the top 5 Cdn banks, your experience will be quite similar. There's probably not a huge difference in terms of exit opps if you're part of the M&A group for CIBC vs. BMO. So really if it comes b/w those - choose the bank you feel most comfortable with.

On your other question - personally, if I were in your shoes, I would go with M&A. Because coming out of school, I don't know which industry is interesting to me yet - if I don't like metals and mining then it will be a very slow 2-3 years. And you build up your tech skills really quickly in M&A - a very good selling point for PE or if you want to jump ship to other banks or whatever else. The downside is, by not being in an industry coverage team, you don't specialize and you won't be able to claim to know any industry well. But like most banks, BMO has a mobility program, and you can move into an industry group later on if that's what you want, and if you do well.

Oct 12, 2010
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Oct 12, 2010