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
About the Author
Kelly Vo
Kelly Vo is a writer who specializes in covering MBA programs, digital marketing, and personal development.
