Finance in Canada, Part 2: Investment Banking to Pension Funds and Everything in Between

So where were we again?

Oh yeah, just how different it is working in finance in Canada and how it can be much harder to break into the industry.

If you haven’t already read Part 1 of this interview and learned how our interviewee broke in against all odds – coming from a culinary background – you should get over there and read his story right now.

We’re going to pick up with Part 2 today and you’re going to learn all about what it’s like on the job - from the industries you cover to the most common deal types to the hours and yes, even the pay (with exact numbers).

And then we’ll move into the exit opportunities - a strange world where traditional private equity, venture capital, and hedge funds are less prominent and where pension funds are a more common destination.

NOTE: THIS INTERVIEW APPLIES MORE TO QUEBEC THAN CANADA AS A WHOLE.

So please keep that in mind as you read through it. Yes, things are different in other places. Some of the points here do apply elsewhere, while others are Quebec-specific (i.e. comments on French, some of the figures below, and so on).

Emerging Power or Emerging Bubble? What You Do in the Latin America Coverage Group at an Investment Bank

Investors like growth.

And now that they aren’t getting it in developed economies, whether they’re looking at industrials, consumer retail, or other sectors, they’re turning their attention south and east – to the BRIC countries and other emerging markets.

We’ve been through what to expect in China and India multiple times (Russia, you’re next on the list), but Brazil hasn’t received much attention.

Actually, I’ll correct that statement: Latin America has received no attention so far.

That changes today with an interview from a reader who started out in risk management in Latin America and then networked his way into investment banking to cover Latin America at a New York-based investment bank.

Keep reading to learn how you can do the same, what it takes to cover Latin America, and how everything from valuations to pitch books differs – plus, whether it’s an emerging power or just an emerging bubble.

Breaking In

From Top Chef to Top Bank: How to Break Into Investment Banking in Canada

Back when I was visiting Canada last year, I discovered something disturbing within 2 days: no US banks had ATMs there.

Oh, and none of my debit cards worked correctly either.

Luckily, all places that offer bottle service (which served as my meal 3 times per day) accepted credit cards so it turned out OK.

But this little trip confirmed something that I already knew: finance in Canada is a much different world.

And I’m not just talking about ATMs.

Everything from the finance industry itself to exit opportunities to compensation and deals is… more different than you’d expect.

So today you’re going to learn all about how to gain secret, ninja advantages in interviews – directly from a reader who currently works in investment banking in Canada, and who’s had experience in venture capital and related industries there.

And you might just learn how to make the move from restaurant manager to financier along the way, too.