Corporate Banking Canada
Could anyone provide me with the progression in total comp for Corporate Bankers in Canada at 6 big banks (Analyst to Director)? Have seen some numbers on here but all of them differ from one another.
Thanks!
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analyst: 120K all in
associate: 150-170k all in
vp: 225k all in
director: $300k all in
managing director: $400k - $500k all in (in good years)
All numbers in CAD
no way this is accurate - the numbers u see off glass door or wtv are usually wayy off, i dont believe vps r making 225k and MD 300!?! thats unheard of. id say 500k+ at least
Used to work in Corporate Banking in Canada - if anything some of those numbers are high. Move to the US and you'll see an uptick pretty quick - that's what I did!
Can you tell us a little more about your move to the States? TN Visa? CB is in a grey zone for TN eligibility? Company sponsored? Please walk me through it as it's a long term goal.
I am on a 3-yr TN visa with firm stating they will try to convert to H1B visa after the renewal of my TN (aka during my 2nd 3-yr TN visa).
Most jobs are considered "grey zones" to be honest; however, most have their job description altered to match either "Consultant" or "Accountant" that I know of. I have heard of some under the "Economist" designation as well but I don't know much about that designation and its requirements.
When you say sponsored it doesn't really work like that on a TN Visa. On an H1B sure; however, on a TN you can go apply at the border with the offer letter without the company specifically "sponsoring" you.
Mind if I PM you?
No chance a VP in CB is only making $225k in CAD lol there are associates that hit this figure.
its accurate
Make sure you understand U.S. vs Canada, this is spot on.
Now you know why ppl think this country is going to sh*t?
yes this is accurate and so are the asso numbers.
the associates that hit that figure in Canada are working at BBs at their satellite office.
TD and BMO pays its CB associates 110 base while CIBC is 120 base, 30 - 40% bonus.
I know an an associate from Big 5 that went to a BB in Canada for analyst, he took a base cut but his bonus as an analyst more than made up for it at 60%. he said its easier to climb from analyst to asso than it is as an asso to VP if all you care about is total comp and disregard the title.
Do u have the base # for big 5 cb an1?
BMO is 90k base
Do VPs and Directors really only make 225k to 300k??
Massive discount to BB’s in Canada. Associates in Canada make more than that.
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A bit off topic but what is the best way to prepare for corporate banking interviews technicals wise.
Look at common credit metrics (leverage, liquidity, coverage ratios) and understand the 5 C's. Understand the different products a bank offers (RCF, types of different loans) and make sure to explain how current macro environment affects lending conditions. A good understanding of different industries would also help in assessing which businesses are ideal / safer to lend to.
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