TD Bank

Equity Research Associate - Industrial (Engineering and Construction)

TD Bank • $110K — $135K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Undergraduate degree in finance or related field.
  • Strong work ethic with the ability to meet strict deadlines.
  • Proficiency in financial modeling and quantitative analysis.
  • Excellent business writing and interpersonal skills.
  • Demonstrated interest in capital markets and finance.
  • Experience or familiarity with equity research or the Engineering & Construction sector is preferred but not mandatory.
  • Professional designations such as CFA, CPA, or P.Eng. are advantageous but not required.

Responsibilities

  • Build and maintain detailed financial models for E&C and Industrials companies.
  • Analyze sector-specific drivers and trends relevant to the industry.
  • Draft initiation reports, earnings previews, and sector notes.
  • Conduct competitive analysis and valuation benchmarking.
  • Monitor and summarize company news, contracts, and macro indicators.
  • Support senior analyst during earnings season and marketing initiatives.
  • Engage with sales and trading teams to convey investment insights.

Benefits

  • Dynamic work environment in the finance sector.
  • Opportunity to work directly with experienced equity analysts.
  • Growth potential within the Equity Research team.
  • Exposure to institutional clients and the capital markets.
  • Access to professional development resources and support.
Full Job Description
Work Location:
Toronto, Ontario, Canada

Hours:
37.5

Line of Business:
TD Securities

Pay Details:
$110,000 - $135,000 CAD

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

The Institutional Equities division of TD Securities provides equity sales, trading, research, underwriting and distribution from offices in Canada, the U.S. and the UK.

As an Associate in Equity Research, you will have an opportunity to work directly with an equity analyst on the daily publication of company and industry research reports. This role is for an Equity Research Associate that will work alongside a senior analyst covering the Engineering & Construction (E&C) sector. The successful candidate will be a key contributor to the production of financial models, published research, and the day-to-day analytical work that supports our coverage.

Responsibilities

  • Build, maintain, and enhance detailed financial models (income statement, balance sheet, cash flow, DCF/SOTP, and segment-level and project-backlog models) for E&C and Industrials companies.
  • Analyze sector-specific drivers including backlog and book-to-bill trends, project margins and execution risk, infrastructure spending cycles, and public/private funding dynamics.
  • Draft and contribute to initiation reports, earnings previews/reviews, sector notes, and thematic research.
  • Conduct company and peer analysis, valuation benchmarking, and competitive positioning assessments across the coverage universe.
  • Monitor company news flow, contract awards, regulatory developments, and macro indicators relevant to sector; prepare summaries and flag actionable insights to senior analyst.
  • Support the senior analyst during earnings season, investor marketing, non-deal roadshows, and industry conferences.
  • Engage with institutional sales and trading teams to communicate investment theses and respond to client inquiries.
  • Continuously develop sector expertise and progress toward greater analytical ownership and independent contributions over time.


Qualifications

  • Ability to work independently under strict deadlines, with an attention to detail and output orientation
  • Ability to research a topic from the ground up
  • Strong work ethic, ability to take initiative and balance multiple tasks
  • Superior business writing skills, presentation skills and interpersonal skills
  • Excellent spreadsheet, quantitative and financial analysis skills
  • Demonstrated interest in capital markets - comfortable with finance theory
  • Service orientation and professional attitude - presentable to both internal and external clients
  • Flexibility and ability to invest long hours as needed/required by business due to the nature of the role
  • We welcome applications from candidates across a range of experience levels. While relevant experience in equity research and/or familiarity with the E&C or broader Industrials space, is preferred, it is not required.
  • The candidate must possess exceptional aptitude. Similarly, professional designations (e.g., CFA, CPA, P.Eng.) are viewed favorably but are not a prerequisite. If you are motivated, analytically rigorous, and eager to contribute, we encourage you to apply.
  • Minimum Undergrad degree in a relevant finance or industry field

#Li-onsite

#Li-TDsecurities

Language Requirement (Quebec only):
Sans Objet

About TD Bank

TD Securities offers a range of advisory and capital market services to its clients. The company's range of services includes research, investment banking, capital markets, and global transaction banking. Research consists of commodity and equity research. Investment banking consists of mergers, acquisitions, industry expertise, and credit origination. Global transaction banking consists of trade finance, cash management, and correspondent banking. TD Securities was founded in 1855 and is based in Ontario.

TD Bank Careers

Join the vibrant team at TD Bank, one of North America's leading financial services organizations, where innovation, leadership, and growth go hand in hand. At TD Bank, we are committed to fostering a culture of diversity and inclusion, making it an ideal place for ambitious professionals to thrive. Work You’ll Do At TD Bank, your professional journey is bolstered by a robust support system. From your first interview to every career milestone, you will find opportunities for growth and leadership. Our team is dedicated to helping you develop the skills necessary for success in the ever-evolving financial sector. TD Bank offers a variety of job opportunities across multiple fields, from customer service to investment banking. Each position at TD Bank is a chance to contribute to our culture of innovation and exceptional client service. Internship Programs Kickstart your career with a TD Bank internship. Our programs provide invaluable industry exposure and hands-on experience, making them a perfect starting point for students and recent graduates eager to make their mark in the banking industry. Interns at TD Bank enjoy the unique opportunity to work alongside seasoned professionals, gaining insights that are crucial for future employment. Benefits and Growth TD Bank is deeply committed to the well-being and continuous growth of our team members. We offer competitive benefits packages that cover health, finance, and family care. Our employees enjoy comprehensive health insurance, retirement plans, and generous paid time off, among other perks. Moreover, TD Bank encourages professional development through various training programs, including leadership development and diversity training. These initiatives ensure that our team remains at the forefront of industry standards and best practices. Join Our Team Explore the numerous career paths available at TD Bank and discover how your skills and interests align with our mission. We are actively hiring and continually looking for talented individuals who are passionate about banking and customer service. Networking and Professional Development At TD Bank, we believe in the power of networking and collaboration. Our employees have access to a wide range of networking events, workshops, and seminars that promote career development and professional growth. These platforms not only enhance your professional skills but also expand your industry connections. Stay Connected Keep up to date with the latest at TD Bank Careers by subscribing to our job alert emails. Tailor your subscription to match your career preferences and get the latest news, insider tips, and job opportunities delivered straight to your inbox. Explore job opportunities at TD Bank and be part of a team that values hard work, creativity, and a diverse workplace culture. Your next great career move is just a click away. SEARCH TD BANK JOBS Join us at TD Bank and let your ambition lead you to a rewarding career filled with opportunities to learn, grow, and innovate.
Learn more about TD Bank
Size
90,000 employees
Market Cap
$117.9 billion
Industry
Finance & Insurance
Net Income
-$6.9 million
5 Year Trend
+6.6%
* Ladders Estimates

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