Toronto Full-Time Recruiting

Hi guys. Long time reader, first time poster. I'm a junior at a target in Canada (ivey, queens) trying to break into investment banking full-time. I had an investment banking summer role cancelled due to COVID. It wasn't much to write home about; small firm based in Singapore focused on VC and PE but provides M&A advisory and valuation. I have enrolled and plan to complete my CFA level 1 by December of this year, I am waiting to finish the second CSC exam (postponed due to COVID), and I plan on networking a ton this summer. Anyone have advice for breaking in with little experience, or have input into how a canceled internship will be viewed?

I appreciate it.

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Comments (5)

  • Intern in IB-M&A
Apr 23, 2020 - 10:18pm

The full-time recruiting environment is going to be tough given the current environment. It will likely be especially tougher in Canada because of oil markets (and so much of Canada's economy is hinged on energy).

Try to get another internship this summer, and network with other industries in case IB doesn't work out.

Apr 23, 2020 - 10:29pm

Thanks for the note! I've certainly been trying to cast a reasonably wide net for high-finance jobs in Toronto. It'll be tough go for many of us but what doesn't kill you makes you stronger right

Apr 23, 2020 - 10:18pm

I would keep my options open if I were you. There were very few ft positions for the class of 2020 and that's prior to covid. Some of my high caliber profile friends failed to land a ft banking job because of the intense competition. There are always SAs who interned in the states that would compete with you for the handful ft positions.

I would recommend you to reach out to as many banks as possible while have a few backups. REIT positions and investment rotational programs (I.e. manulife, sunlife, cppib) would always be great options that open doors for you. I have seen tons people that lateralled to banking later down the road from those positions.

best of luck!

Apr 23, 2020 - 10:31pm

Thanks for the suggestions! I've heard from a few that those are great opportunities to gain exposure to finance industry, but would work at a REIT limit me to REIB or would it be possible to lateral to M&A?

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