Great if we can gather more intel about compensation increase in Canadian IB teams. This is what I've heard so far (might be wrong so happy to change if we get more accurate info): RBC (Confirmed by 2 WSO Users): Base salaries increased 10-15% firm wide IB Analyst 1 at RBC all-in is around C$160-170k. IB Associate 1 should be around C$270k. CIBC (Confirmed by WSO User) Base salaries increased to: IB Analyst C$95k base IB Associate $135k base BMO (Confirmed by IB individual): 15% pay increase. Seems to be reflected on bonus only. Canaccord (Confirmed by IB individual): IB Analysts' salaries
20 May 2021
I received an offer to join a US bank as an analyst (trading) and will need a TN visa to get through the border. I have a bachelor's degree in mathematics (major is math/business administration), so naturally I believe that I should be applying through the Mathematician occupation as the job letter can be reworded to explain my responsibilities specifically touching on things like data analysis to support business decisions, interpreting data/reporting conclusions drawn from mathematical analysis, deciding what data is needed to answer specific questions, etc. The employer's law firm wants to
30 Nov 2021
Hey everyone! With IB SA and full-time recruitment starting up in Canada over these next couple months, lets get the thread going! This is make or break for some of us and a head start for others!
31 Jul 2019
Hello Folks, I am in a dilemma regarding a finance/consulting career in Canada. and I am in desperate need for advice. I hold a BBA in Finance, and currently work in research (1 year and 2 months so far) (local consulting boutique). I am from north africa, but would love to move to Canada and get into consulting or Banking. I am trying to decide between going for an MSc in Finance (Either McGill or HEC Montreal), the plan here is to start out in junior positions (Analyst). My second option is to wait for a couple years, then go for an MBA (Rotman, IVEY,Schullic, or McGill). here the target
09 Aug 2021
Hi, I'm a U.S. rising senior (Currently 17) and wondering about Canadian IB options. I've got decent options in America (undergrad: UNC/Duke/Brown are all decently likely) & can definitely make it into Queens/Ivey. A good bit of my family/close family friends do or did banking/PE related stuff, so its always been an industry that I've found interesting. I've got family in Canada & have recently begun to think about IB in Canada. Ik that in the U.S. you generally go Analyst 2 yrs->PE 2 yrs ->MBA -> PE/Corp Dev/Whatever you want, but I'm not sure what the "track" is in Canada. Anyways, I wanted
18 Jul 2020
Hi everyone & Happy Holidays! I wanted to get POVs of investors on this site. As we know, buying assets has become much harder now, competition is high, people are bidding high, and cap rates are decreasing at all time highs! Buying an apartment tower in Toronto or Paris will yield a 2.5% cap rate for Class AA towers.... So I wanted to understand the risks of going after properties in the Middle East, South Asia, Russia, and other Asian markets. About me: I currently own a portfolio of 12+ unit apartment towers, grocery anchored plazas, and single tenanted Industrial properties across Calgary
31 Dec 2021
Hey guys, I go to a Canadian target (Queens/Ivey) and have been recruiting for summer 2022. The year is now half way and I have gotten zero interviews from the Canadian Globals and Banks in the USA. I did BMOS my first two years, not sure if that is relevant. I have: - 3.9 GPA - Worked at boutique private equity first summer - Currently working in Corporate Development at a very well known company I have also networked with multiple firms before applying and had great calls with analysts. I have no idea at all why I am not getting any first round interviews at all. The feedback I keep getting
24 Jun 2021
Hey WSO, I was stuck in another country this academic year (first year) and all competitions happened at 4am for me, as well as club meetings. I tried to attend a few but my body was getting fucked by waking up in the middle of my sleep and getting less than 6 hours everyday. So I chose to focus on academics and GPA and make sure I don't cause much harm to myself. As a result, I did not get much club exec experience or case comp experience. My GPA and testing scores are near perfect (GPA: 3.9+, ACT: 35, SAT Math subject test 800/800) and I have incoming corp finance work experience at a large
01 Jun 2021
I am a 4th year at Ivey in Canada which is a top target here. Most of my friends got great internships in IB at BBs and Big 5, and same with my friends at Queens. Today I was bored and went on LinkedIn and was blown away by some of the internships from Waterloo and mostly the accounting program. Here were some of the profiles I saw and internships I saw: Person 1: Deloitte, RBC IB, BMO IB, Altas PE, Evercore SA and Evercore FT Person 2: PWC, PWC, CIBC IB, BMO IB, Lazard IB, PJT SA and PJT FT Person 3: Deutsche Bank S&T, CPPIB, Qatalyst SA and Qatalyst FT Person 5: PWC, PWC, Goldman Sachs IB
19 Feb 2021
The USISC today imposed restrictions on individuals working in the U.S. under the NAFTA TN Visa's Economist category. This change disallows people working in Financial Analyst and Market Research Analyst roles from obtaining the TN visa. My question to all those working in investment analysis roles at US hedge funds on TN visas is that does this change impact you, and what is your job description listed as in your TN applications?
19 Dec 2017
16 Mar 2020
Background: - Currently a senior consultant at a big 4 with a handful of projects under my belt. - Hoping to write CFA level 3 in May, I was planning to write it this summer but it got delayed because of covid. I am acing the mocks consistently now so I am pretty sure I can pass it. - Completed the FMVA - Undergraduate in finance from a non-target - I have a stack of trade thesis I write to trade my personal savings (mostly swing trading in FX and indices) I can show off in interviews and I made decent returns over the years. The analysis is all in macroeconomics. I know this is more hedge
11 Nov 2020
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
04 Nov 2020
Hey everyone I just have a quick question about PE in Canada. What are the comps like at the big Canadian PE shops (Onex, Birch Hill, etc)? What are the comps like working at a PE arm of a pension fund? Is IBD or PE generally better in terms of long-term careers in Canada? Thanks
17 Apr 2018
Hey I am an incoming MBA candidate at Rotman. I have a total of 44 months of work experience. Most recently, I have worked in a reference data firm out of India's office for a little over 2.5 years. Think: Bloomberg, Refinitiv, IHS Markit etc. There was research work involved but the scope was very minute. I have worked in the audit/tax division of a big 4 for an year earlier. My undergrad GPA was 3.5 and I scored 740 in GMAT. I have also cleared CFA Level 2. Post my MBA, I would want to work in a role that pays over 100k per annum but at the same time would not want to work over 45 - 50 hours
30 May 2021
Register for UWFA's 9th Annual Stock Pitch Competition in partnership with BMO Capital Markets! The competition will be held through Zoom on Saturday, November 14th to Sunday, November 15th. If you are interested in participating, groups of 1-3 are encouraged to sign up before the registration deadline on Monday, November 2nd. Undergraduate students from all Canadian universities are welcome. See the event page and poster for some of the judges and panelists. Event Page: https://fb.me/e/4r8lqAxZF
19 Oct 2020
Hi Guys, Looking for some insight on how to break into Canadian IB. I am planning to immigrate to Canada and have admissions secured at Queens and Schulich. The main question for me is how important is a two year MBA program for me to break into IB. I understand that the Queens MBA has a better reputation and possibly leads to stronger networks due to small class size, has some interesting opportunities for getting exposure to VC and Hedge Funds through student run funds (added bonus), strong IB recruiting ground but Schulich is in Toronto, allows me to develop a network over two years, allows
01 Aug 2017
Hi all, I'm looking at going for an MSc in finance to strengthen my application for a career in IB. Long story short, I did my undergrad at UBC in Canada, Applied Mathematics, and found an interest in banking after a time-series research stint during the summer of my third year. I got a little more serious about it after that, met with countless number of industry professionals to gauge whether or not I really wanted to pursue IB. I've missed my chance at internships during my undergrad, but I think a master study will make me eligible again for intern programs and will also back up my
20 Oct 2018
Canada is one of the top oil producing nations in the world, producing around 4.3 million barrels per day according the US Energy Information Administration (EIA). You might assume that with crude oil prices testing their August lows that Canadians are seeing extremely low pump prices for gasoline; however, this is not the case. With WTI prices down over 50% compared to this time last year, many are confused as to why this hasn't led to substantially lower pump prices. Here are 3 reasons Canadians haven't seen lower pump prices. There is an Oversupply of Crude Oil, Not an Oversupply of
24 Nov 2015
Hey everyone, Is the extra $ worth it? Are the Wall Street connections, alumni network, etc.? Also, how difficult is it for Canadians/internationals to be hired by Wall Street firms (I understand I'd need to be sponsored with a TN/H-1B Visa - are firms still willing to do the paperwork for these visas nowadays)? What would you do if you were me? Thanks in advance.
17 Jan 2018
Same post from the Private Equity section but hoping to get more advice. Does it make sense for me to go from PE to Consulting now? A bit of background on myself: I got a computer science degree in Canada, did a few years of M&A and have been in PE for almost two years now. My PE exposure is very limited on the portfolio management side, but heavily focused on transactions (entry/exit). I'm burnt out with deals and don't see myself having a very focused career in finance, would like to explore operations, strategy, and more leadership roles. What complicates this matter is I'm also planning a
06 Mar 2018
Hey guys, I'm pretty down right now. Yesterday I received an email that I was not being presented an offer for my dream job as a buy-side equity analyst at a value investing shop. I'm not really sure what I'm hoping to get out this thread other than a place to vent, and maybe some advice on what to do going forward. This rejection comes after 5 initial interviews, a 12 page stock report and Skype presentation and then 3 more interviews in person. I live on the west coast and was flown out to Toronto all expenses paid. I felt all 3 meetings were excellent, and was then notified a few days later
11 Apr 2016
Hi everyone, I've been looking into applying to some MSF programs for a 2022 entry. Currently I'm an analyst at a Impact Investing VC fund (mid sized but well known among the community) with few internships in corp fin and corp banking all totalling up to about 2 years of work experience. I graduated from Queens uni in Canada with a low GPA (2.9) and passed CFA level 1 and 2 in consecutive years. I'm aiming to take the Gmat soon and hoping for 700+ but we'll see. The reason why I want to do a MSF program is due to two reasons. One being a potential career move to a more lucrative side of
18 Apr 2021
Hey, Monkeys!! In as much as I enjoy reading posts about S&T in other countries, I'm very interested in hearing from my fellow Canada bros. 1. Tell me about your recruiting experiences, Summer experiences, Rotational programs and even shed some light on the compensation structure in Canada. 2. Industry trends and any changes within the Canadian S&T 3. Which trading desks are most the prestigious, hard to disrupt (automate) and provide the highest learning opportunities. Lets go!
08 Sep 2019
Hi all, I am a first year associate at a big5 CDN bank and I was curious about bulge bracket presence in Canada. How is CS/BaML/BarCap? Is the CS culture toxic? I have seen a lot of turnover at CS. Do they help you transfer to their US office? I'd appreciate if any former/present CS employee could comment. I know that US headhunters mainly look at BaML as there were some analysts that moved South. How about CS/BarCap? It looks like their analysts have moved to other shops in Canada. FYI, big 5 bank analysts pay is ~85k + 50 - 100% of base. Associates get paid 120k base (except CIBC and Scotia
16 Mar 2021
So i just finished my first year of my undergrad (1 of 3yrs) in Business administration (Finance) here in Canada. And recently, a passion or a life goal resurfaced, I want to study Mandarin chinese in mainland China right after my degree. And recently, a passion or a life goal resurfaced, I want to study Mandarin chinese in mainland China right after my degree. **** - Ive been wanting to study the language for a long time now (I'm 19yrs old, turning 20 in July and will be 21/22yrs old when I finish my undergrad) and I feel like ###*I wont have the opportunity to learn it for the rest of my
11 May 2019
So I'm working at KPMG Deals Advisory(associate currently but AM in like 2-3 years) in Asia. I'm a chartered accountant and want to know if I should prep for an mba or any other msc strategy etc. My goal is partner at a consulting firm preferably pure strategy. I'm indifferent about mbb or b4. (will go with the highest paying firm as long as there is pure strategy). I want to know if I should continue in the firm and rise thru the ranks(perhaps enter US, Canada or Europe) or go for an mba etc after 3 years and get in an mbb firm. I'm leaning towards the 2nd option as they offer higher pay
30 Jan 2021
I'm heading into my third year of post-secondary at a target business-school (undergrad), and wasn't too sure when recruiting starts
14 Jun 2021
Canada's coined the name "Land of Opportunity" for its immigration friendly policies and entrepreneurial spirit, and US pot companies are definitely capitalizing on that reputation. Companies that are operating in states where marijuana is legal, are not able to get listed on US stock exchanges due to the SEC's rules on the types of companies that can be listed. Marijuana is still considered an illegal drug by the US federal government, and therefore companies that deal with it are not allowed to
06 Aug 2018
Drugs, Booze, Canadians, what's not to love? Molson Coors Canada, one of Canada's largest breweries, is working with The Hydropothecary Corporation to bring cannabis-infused beverages to market. It's nice to see older, more traditional companies adapt their businesses to the changing times. [quote] "While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new
02 Aug 2018
Last week, there was a Wall Street Journal editorial proposing that the US and Canada, being best friends for such a long time now, should tie the knot already and merge to become one nation. I have no idea how serious this proposal is, but let's toy with the idea for a bit. http://online.wsj.com/news/articles/SB100014240527023039976045792383018… On paper, a US-Canada merger makes a lot of sense. On a total trade basis, the US and Canada are each other's biggest trading partner. Literally millions of people have worked across each border, and both nations have a long history of defense and foreign policy together.
17 Dec 2013
It had been a hell of a day to travel anywhere in the Northeast. Winter storm Nemo had just dumped 2 and a half feet of snow in the greater Boston area, and only a little less in New York. I had been planning to visit Toronto for a while to attend a WSO Happy Hour and see the sights, and the weekend of Feburary 9th also happened to be Chinese New Year. Two things to celebrate in one weekend. It almost didn't happen. Although my connecting flight from Montreal to Toronto went ahead, I ended up sitting on the tarmac for almost 3 hours while the airport people flailed around helplessly trying to figure out what to do about the blizzard…in Toronto, Canada, of all places. I spent more time on the ground than in the air!
12 Feb 2013
Looking for a career as an analyst in investment banking. I'm an 18 year old high school student in Canada and was wondering if I should attend UBC Sauder, Rotman Commerce, or Western. However, I understand the obvious answer is Western, but unfortunately I wasn't aware of the deadline and I submitted my Western application after the deadline for AEO. Instead I've been accepted as a BMOS major. I feel like I have three choices. I'd really appreciate answers as soon as possible to which option of the three or another one would be best for my career. 1) Attend UBC or UofT all four years and
31 Mar 2017
Fellow Monkeys, I am facing somewhat the most difficult question in life. Hence, I'd like some advice from the forum. I've been accepted into two finance related program located in two very distinct location--Toronto and Milan. The first program is the Rotman Master in Financial Risk Management 8-month (yes, no intern, but have a project working closely with financial institutions on risk management), Risk focus, Downtown Toronto, close to Bay Street (Canadian Wall St. FYI), John Hull teaches, 48K CAD and no scholarship (OMFG). The other program is the Bocconi MSc Finance, heard it's
08 Mar 2017
I'm a 1st year in a BBA in Finance at a non-target (ESG-UQAM) with a GPA of 3.7/4.3 in Montréal, Canada. I already have done an extracurricular, between universities (a case resolution in finance) in which I placed 1st (in front of HEC Montréal, Mcgill, JMSB) and I plan to do others for the remaining of my Bachelor. Have in mind that I still have 2 \ 2 1/2 yrs left to my undergrad. I'm going on a semester exchange to Bocconi in Fall 2019 (I know someone from NUS who on an exchange at Bocconi went that told me that if my grades are good enough at Bocconi, I could be considered like a local
28 Mar 2019
Hi guys, I'm really interested in Debt Capital Markets and Leveraged Finance in Canada and I was wondering if you guys could give any insight about it. How big are the teams for each, comp, exit ops, etc? I assume mostly the Big5 banks have teams in Canada, or do BBs in Canada do too? And lastly, what's recruiting like for these roles out of undergrad? Thanks!
28 Jan 2018
Wanted to know if anyone had any insight into their reputation on Bay St. I've heard their M&A, Real Estate and Credit Capital Markets (not sure if LevFin or vanilla corp banking) are solid groups. Any info on comp and FT rotational program would also be greatly appreciated.
21 Jan 2021
Mod Note: This is a syndication from Jared's Daily Dirtnap daily market newsletter. WSO readers qualify for a $100 discount...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap At great risk of alienating any and all Canadian housing bulls, the more I read and study, the more I am convinced that the housing market is about to drop a daisy cutter on Canada. I don't even know where to begin. Why don't we begin here: these guys have had rates at one percent (just like we did) for a long time (just like we did) for really no good
11 Mar 2013
Hey guys, I'm a Canadian in HS and I'm hoping to go into Management Consulting after undergrad. I don't know if this is the usual but I'm planning to stay on rather than leave for exit opps (I don't know if this is the usual in Canada). Anyways, I was looking for some insight on the best schools, top firms as well as lifestyle/comp and such. Just to make it easier I'll number my questions 1: Which 2-3 schools should I aim for to have the best chances of getting into MC? I've heard of Ivey, Queens, Schulich, Mcgill and Rotman though not sure which ones I should apply for. I'm currently leaning
17 Apr 2018
Hi everyone, I had a couple questions about the finance industry of Toronto and how it compares to other global cities. I have a few options on where I may pursue a career in investment banking. I have 2 options, NYC or Toronto. 1- The first thing I'm wondering is how the cost of living generally compares between the two cities. -How do taxes compare? -How does housing compare near Wall St/Bay St areas? -How food, retail, transportation compare in terms of cost? 2- How Toronto compares to NYC salary-wise. I read on another post that people in finance and tech in Toronto make about 1/2 of what
08 Apr 2018
I was wondering if anyone knew what jobs outside IB looked like in Canada. Toronto overall has less of a finance scene than NY so I had a few questions. 1- What finance related job do most people go into besides banking in Canada? 2- What's PE, HF, PWM, Financial Analysis, Corporate Finance, Corporate Development and Asset Management like in Toronto? 3- Is consulting as developed as IB in Canada? Is it mostly at the Big 4 or is there a lot of MBB presence? 4- Accounting in Canada has extremely low salaries compared to the U.S, is it the same for PWM, Corp Finance, and other non-IB finance jobs
04 Feb 2018
A developed, North American First World nation is in an existential crisis. Its government debt and deficit are at gray hair-inducing levels. Its currency is the laughing-stock of the world, its onetime strength sapped by unbearable levels of spendthrift habits. Leadership appears utterly absent, and there is a general tone of disenfranchisement and hopelessness. Sound familiar? It should , to us. In the early 1990's, this was your country-if you were a Canadian. I recently saw these comparisons in separate pieces in both the Wall Street Journal and the National Review, drawing similarities between these two situations.
25 Jul 2011
Hey everyone I just had a question about banking in Toronto because I hear it's a bit different from what you'd see in NYC. From what I've gathered from reading these forums, almost everyone in NYC is all about getting exit ops into PE or HF but from what I hear in Canada much less people go into PE and rather stay in investment banking. My question is, are there any Canadian bankers on this site that can tell me what the career path for a banker in Toronto looks like? From what I hear if IB is up or out wouldn't that mean that the careers of many bankers are short since only a select amount
26 Jan 2018
Hello WSO community, I have an aspiration to be a Management Consultant at a top tier firm but really need to start laying out the groundwork and goals for this to be a reality. I am looking for advice and tips on what you believe the best way/methods for me to achieve this. I recently graduated from college (non target) and want to know what I need to get into an Elite school and an Elite firm afterwards. Currently: I am 22 years old 3.3 GPA 2 years of work experience (internships) B.S. Management Information Systems Due to being an international student I am limited to Business Analyst/ IT
02 Aug 2018
Hi, I want to get an MBA while I continue in my Data Analyst Role in Edmonton Alberta. I have the option of going to the University of Alberta (business school is ranked in the 80ies worldwide) which is where I got my BCom as well. I learned about the Accelerated MBA from Queens as well and I can take the classes for the most part in a "Boardroom Learning Center" in Edmonton. Does anyone know of other similar programs that I can get an MBA from while I stay in Edmonton. The cost of the MBA will be covered by my employer so don't restrict it based on Tuition. Thanks!
22 Feb 2018
Hey guys, student in Canada looking for some insight about the finance industry up here. I'm looking for a more long-term career in finance rather than jumping firms. I've heard a lot about IB in Canada being good for career bankers which is exactly what I'm leaning toward but I wanted to know a bit more about other areas of the industry. 1: Is MBB or Big 4 consulting a stable, well-paying, long-term career choice up here in Canada? 2: I've also heard about other jobs such as Asset Management and Corporate Development but I hear much less about it at my school. Last year I think around 50% of
16 Apr 2018
Background; non-target, average transcript, involved within student life, worked in retail banking as CSR for two years then finally landing an internship in Canada's largest pension fund and later landing my dream job as VC Analyst upon graduation and not to mention - female. Never in a million years, would I have thought that I would be dealing with the country's Canada) top venture firms and investors. Never did I thought I would love my job right after graduating a non-target school that people thought would never be able to work within the competitive finance industry. Never did I think I would be able to work with country's best entrepreneurs.
02 Apr 2014
So I've been hearing a lot of stigma against career bankers. Some even saying that a career banker isn't a good choice for a career. In Canada, most bankers will stay in banking as exit opps aren't as plentiful+they pay worse. Big 5/BBs both pay pretty nicely at VP and higher up levels so is there any reason not to become a career banker in Canada?
10 Apr 2018
Long time lurker here. Why is there such a disproportionate number of Canadians on this site? They seem to fall into three categories 1) Can't decide between Ivey and Queen's and a pissing match ensues 2) Defend Canadian recruiting whenever it comes up 3) Go to a non-target Canadian school (can't think of a worse fate) and dream of making it big at RBC but none of them seem to realize that no one cares about Canada. Can someone make a BayStreetOasis.ca so I don't have to read about some kid in Saskatchewan who wants to make it big...in Calgary.
19 Aug 2011
Hey Monkeys, China may have been getting the most press over the past few weeks, but Canada isn't doing too well either. Here is a quote from the Financial Post:
Since Canada is the largest U.S export market, does Canada's current situation spell more trouble (in Canada counts for 19 per cent of total U.S. exports, followed by Mexico at 16 percent, each more than double China's 7 per cent share. And the Canadian dollar is sliding much faster: It has fallen about 12 per cent against the U.S. dollar since the start of the year, while China's yuan has dropped just about 3 per cent.
01 Sep 2015