Hi everyone as title states looking for more insights to base + bonus over last couple of years.
From my understanding for base salary RBC/BMO pay 100K, TD/CIBC/Scotia are at 95k while NBF is at 85K. Can anyone confirm if these numbers are true.
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Based on the most helpful WSO content, here's a breakdown of the compensation insights for Analyst 1 (AN1) positions at some of the Big 5/6 Canadian banks:
RBC (Royal Bank of Canada): The information confirms that RBC had increased base salaries by 10-15% firm-wide. For an IB Analyst 1 at RBC, the all-in compensation is around C$160-170k. This suggests a high base salary, potentially aligning with the C$100k figure you mentioned, considering the all-in includes bonuses.
CIBC (Canadian Imperial Bank of Commerce): It's confirmed by a WSO user that CIBC increased its base salaries to C$95k for an IB Analyst. This aligns with your understanding of CIBC's compensation.
BMO (Bank of Montreal): While there's a mention of a 15% pay increase, it seems to be reflected on the bonus only. The exact base salary figure isn't provided, but your estimate of C$100k could be in the right ballpark given the general trend of salary increases.
For TD (Toronto-Dominion Bank), Scotiabank (Bank of Nova Scotia), and NBF (National Bank Financial), the context doesn't provide specific figures for AN1 positions. However, your estimates seem reasonable given the competitive landscape of Canadian banking salaries. TD, CIBC, and Scotia often have similar compensation structures, so your figures for TD and Scotia at C$95k, and NBF at C$85k, could be accurate based on industry standards.
Remember, these numbers can fluctuate based on various factors, including performance, department, and market conditions. It's always a good idea to seek the most current data or directly inquire with industry insiders for the latest compensation trends.
Sources: Canadian BBs in the US? Pay structure, Presitge?, How good are Scotiabank, CIBC and RBC Mining Groups in Toronto?, Banks that Pay USD in Canada, Canada IB Pay Increase?, Canada IB Pay Increase?
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