TD Securities and TD Cowen questions
Hey all, im an incoming SA at TD Cowen / TD Securities and was wondering if anyone knew what the exits looked like in terms of GE / VC / PE, particularly on the tech side.
Also was wondering if anyone knew what bonuses usually look like, considering bonuses were likely different across TD and Cowen pre acquisition, what would they look like now?
Also does anyone at the firm know what groups look like now? Are they fully combined as in old TD and old Cowen analysts are working under one greater group, say tech? Or does TD Cowen still work independently.
Thanks!
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Interned at TD this past summer but as of then TD and Cowen still operated pretty separately. Any merger of that size is going to take a bit to properly integrate. Bonuses on the TD side have been high (above most BB), not sure about Cowen. Pretty sure there was a bonus thread where a TD analyst was getting 200k+ for top bucket.
Exits from both sides are pretty mediocre. You’re probably not going to get a lot of attention from headhunters for buy-side exits but if you’re proactive you can definitely exit. Culture of the TD side is top-tier. Interns were encouraged not to work over 70 hours at least in my group.
thanks for the insight man — what group were you on as an intern? have you heard anything about FIG?
I think the FIG team is pretty small so you'll be working closely with the seniors. Pretty sure there were only like 2 interns for TD FIG last year. Sponsors got a lot of ex-CS people so that group is a lot stronger now and maybe those relationships could feed into FIG a bit too.
Signed recently for SA ‘25. I’m honestly super stoked, everyone is cool and I heard cowen pays great comp just because they have to stay competitive so you and I shouldn’t be tweaking.
sick, are you in nyc?
SF Tech 🦾
Associate at TDS here..
In the tech group, TDC and TDS are fully merged and include TMT and TES coverage (software, semi, internet, fintech etc.) Analysts and associates from TDC and TDS across NY, SF and Canada are staffed on transactions / pitches in the group.
Awesome! I’m gonna be a SA ‘25 on the tech team, maybe we will cross paths.
Any info about the hours at TD NY?
how were bonuses this year?
Great culture and great pay for the hours you have to put in. Downside is that since the bank is so great, everyone stays so it's harder to make VP+.
And buyside exits are poor. I've tried to network out of it but that didn't work. Was advised to move to a more prestigious IB and re-recruit for buyside.
Would you say it's easier to lateral before starting FT, vs. during your analyst/associate stint(s)?
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