Ask anyone what banks have been doing over the past few years, and you’ll get the same answer: “Laying people off! Cutting! Downsizing!”
Now, that’s not quite true because hiring has actually fluctuated from year to year, but the basic point is true: the finance industry has shrunk quite a bit from the last bubble in most countries in Europe and North America….
Except for Mexico.
As banks scaled back their hiring in New York and London post-crisis, they bounced back to growth much more quickly in Mexico, Brazil, and other countries in Latin America.
Today, you’ll hear just what a difference this trend made for one reader who went from no finance experience and a liberal arts degree in the UK to equity research at a bulge bracket bank in Mexico.
So pull out a tequila shot, or two, or three, and get ready for yet another story of defying the odds to get into the industry:
Graduating Into the Crisis 101
From Non-Target School to Sales & Trading to Commodities Banking in Western Canada: How to Break In and Survive as a Female in Finance
Ladies, have you ever wondered what it’s like to work in investment banking as a female?
And guys, don’t leave us just yet – you’ll be pretty interested to learn how you can transition from a non-target school to sales & trading to commodities investment banking… and how another region of Canada differs from the previous cities we’ve covered.
In this interview, we’ll speak with a female Commodities IB Analyst who works in Western Canada for one of the “Big Five” Canadian banks.
Here’s the play-by-play:
- How to break into IB in Canada, even if you come from a non-target school – the application process as well as the interviewee’s experience at 3 different banks
- Why online applications (might?) actually be more effective in Canada, or at least not disappear into a black hole quite as quickly
- What it’s like working in commodities IB in Western Canada for a “Big 5” – the tasks, hours, and culture, and why working in a “regional office” has its advantages
- Working in IB as a female – everything from how many females actually work in the industry to the personalities of female bankers – and yes, even how to dress and how banking will impact your personal life
A Unique Background
From Big 4 Accounting to Private Equity at a Canadian Pension Fund: A One-Way Ticket to Earning More and Becoming a Deal-Maker?
A few of the previous interviews/articles I’ve done on Canada have attracted… a bit of controversy.
By “a bit,” I mean, of course, “lots of violent and hateful comments threatening myself and/or the interviewee.”
So the logical thing is to try it one more time.
This one’s a bit different from previous interviews, though, because our interviewee skipped investment banking altogether and moved straight from a Big 4 firm into private equity at a large pension fund – one of the top exit opportunities in Canada.
Here’s what you’ll get from the story he’s about to share:
- How to move from an accounting role at a Big 4 firm to a financial advisory role, and then finally into private equity – and skip banking altogether.
- What to expect in the recruiting process at a Canadian pension fund, and how it compares to traditional private equity recruiting.
- What the pension fund industry in Canada is like, and why you’ll almost certainly have to work at one if you’re interested in PE there.
- What it’s like on the job at a pension fund, from hours to culture, work, pay, and more.
From Financial Advisory to Private Equity