Top MBA Recruiters: Royal Bank of Canada
Founded in Halifax in 1864, The Royal Bank of Canada (RBC) serves 16 million clients and has over 80,000 employees worldwide. Which means there is a lot of room for a potential RBC career among business school grads.
Continue reading…Company Battle: Morgan Stanley vs Credit Suisse
MBA graduates on the prowl for post-graduate employment opportunities would do well to investigate international banking giants Morgan Stanley and Credit Suisse, both of which offer many attractive perks to employees.
New York City’s Morgan Stanley primarily handles the investments and assets of governments, corporations, and institutions. Zurich, Switzerland-based Credit Suisse is highly regarded for its bank-client confidentiality and overall discretion with regard to client information.
Morgan Stanley vs Credit Suisse: Salaries
The most common entry-level position for MBA graduates is as an associate. Luckily, associates are compensated handsomely at both companies.
Morgan Stanley offers an average salary of $108,659 according to Glassdoor data, with the possibility of an additional $21,732 in bonuses, on average.
Credit Suisse remains competitive with Morgan Stanley at an average annual salary of $111,572 and an average overall pay of approximately $112,000. However, there is the potential for healthier bonuses at Credit Suisse, with a ludicrous average bonus pay of $67,980. Still, reviews from current and former Credit Suisse employees on Glassdoor seem to suggest that bonuses are actually few and far between. Whereas reviews from Morgan Stanley employees suggest that they are more generous.
Morgan Stanley vs Credit Suisse: Company Culture
Credit Suisse and Morgan Stanley actively fosters inclusion in the workplace, with a number of key diversity initiatives. In addition, both banks have implemented innovative strategies to demonstrate corporate responsibility and philanthropy.
Credit Suisse offers several employee networks designed to foster collaboration, including networks for family, women, veterans, LGBT professionals, and POC professionals. Additionally, Credit Suisse offers the Real Returns™ Program, which offers senior bankers the chance to return from an extended career break.
Morgan Stanley also encourages their employees to volunteer regularly, as exemplified by its Global Volunteer Month, the most recent iteration saw 48,000 employees in 36 countries volunteer over 262,000 hours of their time.
Morgan Stanley’s Vice Chairman Tom Nides and Chief Human Resources Officer Jeff Brodsky, shown with over 300 volunteers during the company’s 2018 Global Volunteer Month.
Credit Suisse is known for its collaborative working environment and flexible working hours. Morgan Stanley, on the other hand, promotes a supportive workplace culture, but work occurs at a much faster pace and over longer hours. Some might find the fast-and-furious approach preferable, as it offers more learning opportunities, but it can be difficult to maintain a healthy work-life balance.
Both banks rank highly by various publications on workplace cultures, but Morgan Stanley seems to consistently come out on top. According to Vault, Credit Suisse ranks at 19th as the best place to work, whereas Morgan Stanley comes in 4th. eFinancialCareers also ranks Morgan Stanley as the 4th most ideal employer, citing its competitive bonuses and salaries, as well as its progressive initiatives on issues like workplace diversity and corporate social responsibility. Despite their attractive salaries, positive office environment, and accommodating working hours, Credit Suisse comes in slightly behind at 10th. Finally, Glass Door ranked Morgan Stanley at 100 overall in its 2019 list of ‘Best Places to Work.’
Morgan Stanley vs Credit Suisse: Hiring Rates and Versatility
Morgan Stanley features over 57,000 employees, spread out over 41 countries. There are opportunities to work in North America, Europe, the Middle East, Africa, Japan, and Asia Pacific.
Credit Suisse features 46,840 employees working across 50 different countries. However, a number of positions are only available in Switzerland. In spite of these figures, Credit Suisse claims that there are still many opportunities for mobility, both internally (with respect to opportunities to work across departments as well as potential promotions) and geographically. In 2017, 4,100 employees made an internal move and 47 percent of vacancies were filled internally.
The 5 Highest Paid Toronto Internships for MBAs
Toronto is Canada’s largest city and home to leading companies in both business and finance. There’s a particularly large concentration of banks as well as media companies, publishing firms, telecommunication, IT, and film production companies. There’s a little bit of everything in the city including top MBA programs such as McMaster University’s DeGroote School of Business, Ryerson University’s Ted Rogers School of Management, and York University’s Schulich School of Business.
But where should you look for paid Toronto internships? First, the industry you choose matters. According to the 2018 employment report from the University of Toronto’s Rotman School of Management, you should stick with three industries if you want to earn the most money: law/legal services ($18,000 per month), consulting ($6,332 per month), and financial ($5,623 per month).
Specifically, you might want to check out these five high paying internships in the Toronto metro.
The 5 Highest Paid Toronto Internships for MBAs
Sun Life Financial is a Canadian financial services company headquartered in Toronto. It is as one of the largest life insurance companies in the world, spanning back to 1865. The company pulls in around $28.5 billion in revenue each year, with over 30,000 employees worldwide.
MBA students looking for an MBA internship have multiple options. In particular, there are positions in finance, HR, and real estate. There are also co-op options in the Business Leaders Internship Program. This program gives students ten weeks to work in a number of functional areas to learn where they can be successful.
According to Glassdoor, interns can expect to earn:
- Salary: $3,166 – $4,333 Per Month
Ontario Power Generation, owned by the government of Ontario, is responsible for half of the electricity generation in the Province. The company uses nuclear, hydroelectric, wind, gas, and biomass electricity. The energy diversity helps pull in about $4.73 billion in revenue each year, employing 10,840 people.
For MBA students, the company offers both winter and summer internship opportunities. Interns analyze new business opportunities, pitch marketing, complete customer research, and perform business model development.
Glassdoor reveals that an average intern earns:
- Salary: $4,160 – $5,440 Per Month
BMO Financial Group is a Canadian multinational banking and financial services company. It’s one of the big five banks of Canada and is the fourth-largest by market capitalization and assets. In fact, it’s one of the ten largest banks in all of North America with $21.7 billion in revenue each year and 45,200 employees.
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An MBA internship at BMO can cover a variety of job functions from financial modeling analyst to program management, investment banking, and capital markets. Through the program, students gain hands-on experience working with a team of seasoned professionals.
According to Glassdoor, an MBA intern can expect to earn:
- Salary: $3,000 – $4,160 Per Month
The Royal Bank of Canada (RBC) is a multinational financial services company and the largest bank in the country by market capitalization. It services over 16 million clients worldwide with personal banking services and products. 2017 estimates were around $40.6 billion in annual revenue with 79,000 employees.
RBC is home to a robust internship program with opportunities to work as a data scientist, business analyst, capital markets advisor, global equities, and more. Each internship program provides MBA students with the chance to work as a strategic advisor across a variety of industries from energy to health care, technology, real estate, media, and more.
As an intern, you can expect to earn a good salary according to Glassdoor:
- Salary: $4,833 – $5,166 Per Month
TD Securities is another Canadian investment bank and financial services company, offering advisory and capital market services. It is particularly known for providing expertise in corporate and investment banking, capital markets, and global transaction services. In 2016, TD Securities earned $3.03 billion in revenue with just 3,800 employees.
As far as internships for MBA students, there are many interesting 10-week options with business tracks in corporate and specialty banking as well as retail and product. These internships provide practical, hands-on experience, and can lead to participation in the 12-month MBA Associate Track Program post-graduation.
Based on intern salaries submitted to Glassdoor, MBA students can expect to earn:
- Salary: $3,250 – $4,166 Per Month
Finding Your Dream MBA Career at Barclays
For over 300 years, Barclays has been one of the leading international banks for both consumer corporate investments. MBA candidates are drawn to Barclays not only for its stature in the global finance industry but also for the vast array of professional opportunities it offers. Within business banking, corporate banking, customer banking solutions, marketing, investment banking, and technology career paths, Barclays’ training, mentorship, networking, and travel opportunities are often unparalleled in the financial industry.
Barclays’ MBA Recruitment Program
At Barclays, one major key to continued growth and success consists of building strong interdisciplinary business networks. As part of Barclays’ ongoing development opportunities, the company maintains a robust campus recruiting system. Barclays makes a point to develop relationships with their future prospects as early as possible in their educational and professional careers.
For students pursuing an MBA, Barclays offers the MBA Ambition Diversity Program, a summer internship program dedicated to talented and motivated MBA candidates. Within the MBA Ambition Diversity Program, Barclays initially gives a candidate a “condensed version of our on-campus recruiting process during the summer before you start your MBA, culminating in interviews at our New York office.” Successful candidates will then be offered an internship position the following summer after the first year of business school is completed. Once a candidate has been accepted, Barclays offers a fellowship program that “provides $45,000 toward first-year tuition and academic expenses.”
Barclays prides itself in seeking out women, men, and non-binary individuals of all backgrounds to cultivate a diverse environment for employees to learn from one another. The idea is that this multifaceted workspace will help employees expand their cultural perspective as they embark on a career in global finance.
As of October 2017, Barclays has begun to offer free accommodation for graduates taking job interviews in London, Birmingham, and Manchester. This is for all graduates—not only Barclays applicants.
The Barclays Career
In 2016, Barclays’ head of banking associate recruitment, Kristi Robson, explained in an interview that MBAs are commonly hired into their banking division where Barclays has its largest intake. Banking interns and employees generally move into a product or coverage role within Equity Capital Markets or Technology, Media & Telecommunication, for example. Robson explains, “We do hire a small number of MBAs into our research business but this is dependent on business need.”
According to the 2017 WSO Investment Banking Industry Report, first-year analysts earn between $70,000 and $150,000 USD based on experience and by year three average between $120,000 and $350,000. “At the analyst level, it is not uncommon to work between 80 to 120-hour weeks at some firms. Most analysts start in the summer and receive their first investment banking analyst bonus around June or July, approximately one year after the analyst starts working. Analysts also often receive a signing bonus from $5,000 to $20,000, as well as a moving bonus if they are transferring laterally to a different bank.” For these reasons and more, Barclays strives to provide their candidates with every opportunity to grow professionally.
Education Opportunities
The following London MBA programs are reputable feeders for roles at Barclays. They are all remarkable schools for distinct reasons but each provides a formidable mix of business education and valuable alumni networks:
- Ashridge Executive Education
- Cass Business School – City University London
- Cranfield School of Management
- Henley Business School – University of Reading
- Imperial College Business School – Imperial College London
- Judge Business School – University of Cambridge
- London Business School
- Saïd Business School – University of Oxford
If you’re driven and wish to work for a large organization that still believes in “small-business”-style relationships and offers unique opportunities to develop business skill-sets and global perspectives, then Barclays could be the perfect fit.
Finding Your MBA Career At Capital One
If Samuel L. Jackson and Jennifer Garner can’t convince you, let it be known that the cat’s out of the bag on Capital One as a fantastic place for MBA graduates to hang their hats.
Top MBA Recruiters: Bank of America Merrill Lynch
As one of the biggest names in investment banking, Bank of America Merrill Lynch, is also a prime destination for MBA graduates to land after earning their degrees. As one of the largest investment banking organizations, landing a job at the firm is a dream situation for many graduate school students across the country and world.
