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Career Paths within Finance

There are several rewarding careers in financial services that we explain on this site. Entry level positions in all of these specializations are most easily accessible through an undergraduate degree specializing in Finance or Accounting or a select graduate program (a quantitative masters or an MBA), but realistically, we have seen employees in all fields having more esoteric educational backgrounds (although at a minimum, university degrees are required in today’s market).

We have a nifty career cheat sheet here for ease of getting in (assuming a lateral and not from on-campus recruiting), compensation and where to get out – ranges are from confidential sources. For compensation, we offer the Canadian banking range. If the bank is a boutique, lop off anywhere up to 30% for base and bonus can go as low as zero (especially the commodity focused ones in bad years, but apparently even Deutsche Bank paid goose eggs not long ago). For bulge brackets and elite boutiques, add on up to 20% for base and bonus (keep in mind some global banks pay in USD on a 1:1 basis, which boosts the figure even more due to FX).

Professional Interview Series

 

CareerBase SalaryAverage BonusAverage All In SalaryPreferred CandidatesExit Opportunities
Commercial Banking~$60,00010% - 20%$65,000New GradsCorporate Banking, Credit
Corporate Banking$70,000 - $90,00025% - 60%$100,000New Grads, Commercial Banking, Investment Banking, AccountingInvestment Banking, Debt Capital Markets, Credit Funds, Sales
Counterparty Credit~$70,00010% - 15%$80,000New Grads, Commercial BankingCredit Funds, Commercial Banking
Credit Rating Agency~$50,00010% - 15%$55,000New GradsCorporates, Corporate Banking, Credit Funds
Debt Capital Markets$70,000 - $90,00075% - 100%$150,000Corporate Banking, Syndications, Investment BankingInvestment Banking, Fixed Income Funds, Credit Funds, Rating Agencies
Equity Capital Markets$70,000 - $90,00075% - 100%$150,000Investment BankingInvestment Banking, Equity Research, Equity Sales, Equity Funds
Equity Research$70,000 - $90,000~50%$120,000New Grads, Equity Capital Markets, AccountingInvestment Banking, Corporate Banking, Asset Management, Hedge Funds
Investment Banking$70,000 - $90,00075% - 125%$160,000New Grads, Corporate Banking, M&A, ECM, DCM, Equity Research, Private Equity, Transaction Advisory, AccountingPrivate Equity, Hedge Funds, Pension Funds, Corporate Development, Treasury, Investor Relations, Sales
Management Consulting~$75,000~15%$85,000New Grads, Investment BankingHedge Funds, Private Equity, Corporates
Mergers and Acquisitions$70,000 - $90,00075% - 125%$160,000New Grads, Investment BankingInvestment Banking, Private Equity
Private Equity~$70,000~50%$105,000New Grads, Investment Banking, Mergers and Acquisitions, Management ConsultingCorporates
Retail Banking~$30,000~10%$32,000Current Students, New GradsAsset Management, Retail Brokerages
Risk Management~$60,000~15%$70,000New GradsSales and Trading
Sales & Trading$70,000 - $90,00035% - 65%$120,000New Grads, Risk ManagementInvestment Banking, Hedge Funds, Asset Management
Syndications$70,000 - $90,00040% - 60%$100,000Commercial Banking, Corporate Banking, Investment Banking, AccountingDebt Capital Markets, Corporate Banking, Credit Funds

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