<p>Is it easier to get into IBanking in Toronto Canada? are salaries as attractive in canadian Ibanks/hedge funds? are internship options as available(by that I mean they exist in a large amount, not necessarily easy to get)</p>
<p>what are some of the Ibanks/hedge funds in Toronto?</p>
<p>I would expect that investment banking in Toronto is more competitive to get into than Wall Street, simply because there are so few entry level positions available as compared to the hordes of graduates who are hired each year on Wall Street. The major international banks have tiny offices in Toronto, employing anywhere from a couple dozen to a couple hundred professionals at most for each bank's Toronto office (compare this with NYC head offices which have thousands employed by each major firm).</p>
<p>Internship opportunities are far fewer, while there are still ridiculous numbers of undergraduates who want to be "ibankers". The biggest investment banks in Canada are RBC, TD and CIBC.</p>
<p>I have no clue whether it's more competitive or less competitive. But,</p>
<p>If a Wharton(any other highly recruited school) grad wants to work on Bay Street, he should have no problem at least getting the interview. After that, everyone has nearly a clean slate and you are judged based off of interview performance. </p>
<p>However, as nauru said, Toronto is much smaller. Furthermore, since Bay Street is the analogous to WS in the U.S., pretty much every finance-hungry undergrad in Canada will be competing for those spots (the top Canadian applicants from top schools i.e. McGill Ivey etc. will try to land on WS too).</p>
<p>From what I've seen McGill is not considered a top school for banking, at least not in Canada (I know Americans have a love affair with McGill though so it may be different in the US). In Canada it's basically Ivey and Queens at the top. Then Schulich and U of T, and McGill to round out the second tier. From other Canadian schools it may be difficult to land an interview for competitive positions</p>
<p>If a Wharton grad wants to work on Wall Street, or in London, or in Toronto, or in Hong Kong, he should at least be able to get an interview since this is the #1 finance school in the world we are talking about here. However coming from schools which Americans think are top, but are not as well known in Canada, (for example "Top" LACs, and other schools which are not part of HYPMCS) may make landing interviews in Toronto more difficult.</p>
<p>Anyway, it is a common misconception that less prestigious city = easier to land a competitive job. You have to look at the supply of qualified greedy mercenary undergrads compared to demand for them in the applicable financial district.</p>
<p>yeah mcgill isn't known for their business related programs, more sciences arts and law,</p>
<p>actually guys, I know someone that has extremely high position in RBC in toronto(vp last time I checked), think she could help? She doesn't work for RBC capital though, I don't think</p>
<p>No, McGill's business school is not the school's strength. Regardless, it is part of McGill, which many still consider the most prestigious school in Canada. At the undergrad level, it's as well recruited in Canada as UofT and Queens and a notch below Ivey. For NY jobs, it's on par with Ivey and ahead of UofT and Queens.</p>
<p>I'm from Penn (CAS) and had a subpar GPA for banking, yet easily got two interviews at Canadian banks. Methinks that any proactive student at a prestigious American school will have an easier time landing an interview than most students at Canadian schools.</p>
<p>It's hilarious that almost none of the other summer students I've met have any clue what Penn is -- they think I'm some retard who goes to a state school and couldn't get into a university in Canada...and I laugh when they speak with such reverence at kids they know who managed to get hired by NY banks. However, almost all the FTers are aware of Penn and its quality, so I think that a prestigious school -- save maybe the LACs -- will be recognized by Canadian recruiters.</p>
<p>Oh, and juliusshark: McGill's far-and-away most well-known for it's med program.</p>
<p>"Oh, and juliusshark: McGill's far-and-away most well-known for it's med program."</p>
<p>yeah I know</p>
<p>SO Ivey is the best b-school then?different people say different things. some tell me rotman is better than Ivey while other say the opposite, and I'm just not sure.</p>
<p>oh nodnard, did the Canadian bank pay for your airfare housing and meals like most NY banks do?</p>
<p>Rotman is a joke for undergrad i-banking.</p>
<p>Basically, if you want to be a Bay Street Banker, go to Richard Ivey or Queen's Commerce. Kids from my school, a super-feeder to Bay Street, have turned it into an art. Ivey + Queen, good GPA, = Bay Street job.</p>
<p>It certainly pays less. And the upward rooms is less. It is much more unlikely you will be making seven figures in Toronto. Canada is for you if you don't relish the competition and don't dream of superlative glory.</p>
<p>Remember, Queen's and Ivey are the only two that count. I talked with the the president of the Ivey's student council, and he admitted as much.</p>
<p>And just to give you one more little tip, Huron College in Western, despite its lower admission averages, is known to be a huge i-banking berth. It, with like 1/20th of the population of Western, takes up a quarter of Ivey spots. And this is again with lower admission averages. Generally super-favoured by the smart, well-informed t-dot preps who have daddies and uncles on Bay Street.</p>
<p>what? I didn't understand your post^</p>
<p>O BTW, I know somone with a high poiition in RBC financial, think she could help me get an internship and RBC CM?</p>
<p>guess, sorry. Ivey + Queen's Commerce = Bay Street. that's the gist of it</p>
<p>and i-banking is tremendously easy in Canada compared to the US, because they essentially recruit from only two schools.</p>
<p>and i-banking is tremendously easy in Canada compared to the US, because they essentially recruit from only those two schools.</p>
<p>When did canada start to matter?</p>
<p>^without Canada your oil prices would be much higher, most of your oil comes from us, after Saudi Arabia</p>
<p>Yup, Canada has more oil than any other country aside from Saudi Arabia.</p>
<p>Mining is bigger than oil for Canadian I-bankers.
Mining tends to be the pre-eminent businesses on the exchanges of greater parts of the former Empire. (Australia, Canada, South Africa. Heck, invest in Anglo-American and you are essentially investing in Western capitalism.)</p>
<p>after working on wall street this summer, im actually hoping to work on bay street instead
anyone share the same feeling?
seems like toronto is a cheaper city to live in and offer a slightly better lifestyle</p>
<p>Toronto has a significantly higher standard of living than Manhattan. I would also rather be on Bay st than Wall st.</p>
<p>naura:
why?
(what I hear is that Bay St. pays significantly less, and has less upside potential and exit opps into hedge funs and so forth)</p>