Best Groups at RBC NYC?
Given the factors of exit opps, culture, and deal flow. Thinking industrials bc I heard M&A is sweaty.
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M&A.
Depends on which of those 3 factors you care about the most. PU&I exits best, specifically infrastructure vertical. Culture is subjective on what's best, M&A and Healthcare culture is shit. But for top group culture it could be Industrials, could also be Tech / Sponsors / Lev Fin / CME. The people in each group have different personalities so it's tough to say. In terms of deal flow, yeah industrials and pu&i are top groups but depends on vertical again. Also tech has had great deal flow this year, which is contrary to the bad reputation they get as being weak. But yes Industrials is one of RBC's strongest groups. Also worth noting that of “sweaty” culture is directly related to deal flow
Mind providing more color on the M&A and healthcare cultures? Why are they shit??
The word shit was probably a bit strong to use tbh. But definitely poor compared to others. M&A has issues due to understaffing. Most people in group lateral / exit as soon as they can leaving juniors who stick around to get dominated. Also heard that the seniors in the group can be horrible. My understanding is that Healthcare is a group that is rebuilding and not particularly strong. Had conversations with some analysts in the past and they seemed lifeless to an extent. Didn’t like their job very much was a consistent vibe I received. Not saying anyone loves banking but most people you connect with will at the very least be optimistic in their portrayal of their group.
This is some of the most inaccurate shit I have ever heard, intern. Not 100% inaccurate, but a very strange and mixed bag of false information.
I’m assuming you’re an incoming intern at RBC. You’ll learn very soon that we ask for sources and backups in this line of work. Oh you’ll learn real soon.
Source: I work at RBC and not as an intern.
This is the most post-MBA associate post I have ever read.
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Interned last summer... no need to get so upset lol. I simply am going off conversations I have had and was sharing my insight. Kept in touch since, and a couple analysts in tech had been on more deals that closed then some of the generally considered better groups. Maybe I was extremely off in my interpretation of the term "sweaty", but you sound fragile as shit. "Oh you'll learn real soon." Congrats on the A2A in M&A pal.
Can you comment where rbc infra went afterwards?
How's their FIG team?
I used to work at RBC, here’s what I gathered:
Good Groups: M&A, PU&I, FIG, Lev Fin, Industrials (culture and turnover are awful in the first 2 tho)
Mid Groups: CME, RE, ECM, DCM (obviously capital markets groups a little lighter on hours but exits a little harder to buy side)
Avoid: Healthcare, Consumer, Tech (healthcare has slightly better deal flow than the other 2, but turnover was insane, worse than M&A)
Will also confirm that “sweaty” at RBC doesn’t necessarily mean good or bad deal flow. M&A only touched deals once they went live - some groups, particularly those in the “avoid” category will have you pitching 24/7
Could you talk more about the Real Estate group in terms of culture and deal flow?
I wish that I could, but I didn’t work with them directly. All I know is that I saw them on fewer deal announcements than the top groups, but quite a bit more than the “avoid” groups. I’d expect an experience below standard BB RE groups tbh.
Could you talk more about the Healthcare group in terms of culture and deal flow? Heard they are rebuilding with a lot accelerated momentum. Added seniors in a few verticals etc
I can't speak to what has happened since I have left, but when I was there the turnover was pretty bad - a lot of my emails to the group were suddenly coming back as "undeliverable" pretty unexpectedly. I think they had some of the worst of the COVID turnover on both the junior and senior levels. Healthcare and consumer had been pitching the "rebuilding" thing since I was going through SA group placement over half a decade ago, so keep that in mind (i.e., if they're STILL "rebuilding", it's probably not the best progress).
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Pro tip: probably don't have your government name & LinkedIn headshot on this app bro
1. change your username so it’s not your first and last name, or at least comment anonymously.
2. if you have a passion for tech I’d say it’s ok, but if you just wanna do 2 years of IB and go to PE I’d pick another group
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