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Old 02-05-2013, 09:09 AM
 
59 posts, read 103,610 times
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Hello City-Data Canada!

What are the job prospects for landing a finance job in Canada?

I'm a mid-twenties college graduate working at a fairly large investment firm here in the US, and am interested in moving to/working in Canada in a few years.
I have financial licenses, and expect to be moving to Canada with a completed Masters Degree and an advanced level of French (I am a native English speaker). I'll have 4-5 years of full-time financial work experience.

What do you think my chances are of being accepted to immigrate to Canada and find work?
What cities would you recommend? I love Quebec and Montreal, but work is the most important factor (obviously).

Thanks,
Jonny
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Old 02-05-2013, 10:18 AM
 
Location: DFW
6,800 posts, read 11,782,480 times
Reputation: 5154
Search for finance jobs and banking careers - eFinancialCareers

Then search Canada

Then reach to all the firms that come up

Good luck.
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Old 02-05-2013, 10:23 AM
 
Location: Oakville, ON
377 posts, read 1,516,456 times
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Toronto, without question. It is the centre of finance in the country.

But honestly, why? You would likely be leaving money on the table by leaving NYC (assuming that's where you live considering your username) for Toronto.

That and I don't think your US securities licenses would be recognized here.
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Old 02-05-2013, 10:26 AM
 
1,218 posts, read 2,117,320 times
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There are not very many finance jobs in Montreal at all, very slim pickings but if you speak French then you might find a niche if you work hard at it. But overall, it is not a finance city. Nearly all the finance jobs are in Toronto and french will not be relevant. I'm not sure what exact field you are in but sounds like equities on the buy-side. If you went to a big name US school and work for a well known firm, then you should have a shot at something in Toronto. But even though Toronto is a big financial services sector and there are finance jobs here, it is not a buy-side powerhouse. A large proportion of the buy-side money is actually in the Pension funds, which are very powerful here. There are also some big mutual funds and some smaller private firms but they are not as numerous as you will find in places like Boston or Chicago as the PE, VC and HF worlds are quite small. There is also a lot of competition here (i.e. dozens of applicants per job that comes up) so you'll have to stand out and top tier US credentials will help immensely in that regard.

Last edited by johnathanc; 02-05-2013 at 11:15 AM..
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Old 02-05-2013, 11:01 AM
 
59 posts, read 103,610 times
Reputation: 54
Thank you for the responses, everyone.

ragnarkar, I do appreciate the link on efinancialcareers! I will certainly use it in the future.

Liberated, I used to reside in NYC...I am now based outside of Philadelphia PA. I have a favorable impression of Canada from the time I have spent there (namely in Montreal and Ottawa). I feel like I would have a better quality of life in those places as opposed to the area I am now. I don't think I'd be leaving much money on the table, but I'll scan and see what I can gather with regards to salaries.

johnathanc, thanks for the heads up on Montreal. I figured that it was not a finance city. I guess Toronto is the wisest choice in terms of finding work. I'll check Toronto out and see how the market compares to Boston, Chicago, etc.

Thank you everyone! I would appreciate any future input too from other board members.

Jonny
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Old 02-05-2013, 09:29 PM
 
Location: Gatineau, Québec
21,949 posts, read 27,371,773 times
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Quote:
Originally Posted by johnathanc View Post
There are not very many finance jobs in Montreal at all, very slim pickings but if you speak French then you might find a niche if you work hard at it. But overall, it is not a finance city. Nearly all the finance jobs are in Toronto and french will not be relevant. .
Agreed. Finance jobs in Montreal pale in comparison to those in Toronto. Of course there are some in Montreal and plus you speak French, so if you did land one there you'd probably have a blast.
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Old 02-05-2013, 09:54 PM
 
Location: Canada
4,699 posts, read 8,496,721 times
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Toronto is of course the finance centre for Canada, but to say that the finance jobs in Montreal are very slim pickings is wholly innaccurate. I read somewhere the other day that there were 44,000 full time jobs in finance in Montreal, which was even larger than the biotech numbers they were giving out and that's a big industry here. Montreal is still home to the Montreal stock exchange which is a huge securities exchange and there are important financial institutions like Desjardins headquartered there, as well as Bank of Montreal (technically). All the major banks have big branch offices in the city and there are huge companies like Air Canada that I'm sure have positions in finance as well. It may be less obvious than Toronto, which undeniably has a bigger finance sector, but that doesn't mean it isn't a large industry in the city with great opportunities for talented people willing to take the less obvious path. With other talented people scared away by their lack of French skills, you may even find you and your experiences stand out more, as there are fewer similar candidates to compete against.

I'd also say that french in Toronto is indeed till an asset as it allows you to do more business with companies in Quebec, which can help set you apart.
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Old 02-06-2013, 08:08 AM
 
2,291 posts, read 3,936,908 times
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^ Desjardins isn't headquartered in Montreal but it doesn't really matter.

Of course the finance job market isn't as big as NYC's or Toronto's, but Montreal's finance job market likely compares to Boston's. Chicago? Probably not. Philly? Montreal's probably a bit better.

OP, not sure what type of job you're really looking for, but I would assume that getting up to speed with Canada's regulatory structure and its main financial/fiscal quirks (SEC vs. OSC/AMF, 401(k)/IRA vs RRSP/RPP, etc) would help.
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Old 02-06-2013, 08:33 AM
 
1,218 posts, read 2,117,320 times
Reputation: 1316
Quote:
Originally Posted by BIMBAM View Post
Toronto is of course the finance centre for Canada, but to say that the finance jobs in Montreal are very slim pickings is wholly innaccurate. I read somewhere the other day that there were 44,000 full time jobs in finance in Montreal, which was even larger than the biotech numbers they were giving out and that's a big industry here. Montreal is still home to the Montreal stock exchange which is a huge securities exchange and there are important financial institutions like Desjardins headquartered there, as well as Bank of Montreal (technically). All the major banks have big branch offices in the city and there are huge companies like Air Canada that I'm sure have positions in finance as well. It may be less obvious than Toronto, which undeniably has a bigger finance sector, but that doesn't mean it isn't a large industry in the city with great opportunities for talented people willing to take the less obvious path. With other talented people scared away by their lack of French skills, you may even find you and your experiences stand out more, as there are fewer similar candidates to compete against.

I'd also say that french in Toronto is indeed till an asset as it allows you to do more business with companies in Quebec, which can help set you apart.
I think you are mixing up the definitions of Finance, which can be a very "catch all" term with many branches that are completely different in education and skill set requirements. Every city in the world has jobs in "finance" at corporate levels and if that's the case, the question is one of how much and what kind of industry is in a given city. The OP said he works at an investment fund so I am assuming he is picking stocks and making buy-side decisions. This is a specific area of finance we are talking about - i.e. investments. There aren't very many investment jobs in Montreal and to suggest otherwise is misleading. Even Toronto, which is far the financial centre of Canada and has loads more of opportunity than MTL, still does not have as many investment jobs compared to some other major US financial cities. The investment world is concentrated in very select cities in the world like NYC, London, HK, Singapore, Boston, etc. Even all the major Canadian Pension funds do a lot of outsourcing to investment managers around the world (fund of funds concept). And I don't think French is relevant to rise in this world at all. Nobody made their millions because they speak French. Speaking Mandarin or Portugese or something that would open new doors in emerging markets might prove more relevant for a fund looking for new opportunities, but the reality is that money really has no language.

Last edited by johnathanc; 02-06-2013 at 08:51 AM..
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Old 02-06-2013, 05:24 PM
 
Location: Montréal
37 posts, read 42,333 times
Reputation: 12
http://www.longfinance.net/Publications/GFCI%2012.pdf

À ce chapitre Montréal se classe 17 iéme au monde.
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