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.

“Unattractive, Poorly Dressed Applicants Need Not Apply”: Got Cultural Fit?

I’ve chatted with enough Managing Directors, Vice-Presidents, and Human Resources personnel to know what someone means when they utter the term “culture fit.”

It’s just a way of telling a prospective employee that their “out of the box” thinking and unique, identifiable qualities need to be confined within that firm’s invisible “culture fence.”

You may think to yourself, “I’ve got all these great ideas and the best way for me to get noticed and move upward is to stand out!”

But “standing out” is not a great method for advancing when you work in a cubicle…

Why Private Equity?

So you’ve made it through your first 6 months in banking alive. Your waist is bigger from all those tiramisu desserts, but luckily your bank account has gotten even fatter than your stomach.

And your bank account is set to get even fatter in the future – if you can successfully break into private equity.

While you know about the case studies and modeling tests you’ll get and the deals you’ll have to discuss, you haven’t put any thought into the “Why private equity?” question.

Which is a problem – because the last thing PE guys want is a banker or consultant who wants to do PE simply because he/she hates banking or consulting or because everyone else doing it.