Hey this relates a little more to commercial/corporate banking but I was wondering if anyone on this forum has worked in one of the TD groups in the title before?
TD Commercial is credit for $1-25mm, National Accounts it looks like you get put into an industry group, financial sponsors group, or the like and you do credit for $25-100mm and corporate credit is TD's investment banking group for transactions over $100mm.
I'm trying to figure out what work-life balance in each one is like, what the pay at each group and each level in the group is like, work culture, and more information because I did not find too much elsewhere on the internet.
Does anyone know if TD would pay for my CFA or my MBA if I worked in one of these groups? Also how hard is it to transfer from Canada into the US groups once you're inside TD?
Any info is appreciated! Thank you WSO.
bump
last bump and I give up
Bump I gotchu
You're going to owe me another drink but you seem like a nice guy so....
Commercial Credit guys start off as associates and the pay is quite low - think $80k all in. Work life balance is certainly better than IBD or corp banking but the hours aren't half and the pay is around half of what corp banking is.
National Accounts actually works quite a bit with the IBD teams as they're upper mid market companies and that falls within the mandate of the big 5. I believe many of the big 5 national accounts teams got a pay bump to ~$90 - 95k for an associate in terms of base with a bonus of around 20k. Corporate credit is part of the capital markets group and so the base is the same as the associates, I believe that's 120 at TD. Note that whereas in many commercial roles, associates are fresh undergrads, associates in corporate credit are either MBAs or have prior experience. Work life is significantly better than IBD - think ~60 hour weeks - but bonuses are around half at the associate level and scales down more at the higher levels. Yes, they'll pay for your CFA but I'm not sure about the MBA. Mobility within TD internally is good but they don't have a big IB presence in the states. That said, being internal is always a big leg up and you can get an L1 intercompany quite easily compared to an H1.
You rock man thanks a ton. We can most definitely do drinks on me when you're in town!
And when u make it big, I'll need u to buy coffee for my sorry ass while I ask u for a job
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