Did I fuck up by choosing RBC ?
I know RBC gets memed but I am starting full time with them in IB NYC and chose them over DB, UBS.
Reason why I chose them was because everyone I interviewed/met with for DB/UBS were either like stonecold soulless awkward people or straight up douchebags. I really liked with my interviewers they were extremely friendly and cool and ultimately chose the bank for its culture, even though UBS/DBS may have better exists and are more prestigious. Can anyone shed some insight if I fucked up badly ?
Lol is this a joke
What's the joke? Seems like a legitimate situation/question.
You didn't fuck up at all. Banks are close enough to each other, prestige-wise, that the better culture will be much more meaningful to you. People always underestimate the ability to lateral up, if you really want to. You just get your experience under your belt, then prepare for interviews and network your ass off. Bottom line, RBC is obviously a good bank -- and you sound like a normal dude, so if you're unhappy there, you'll do what you have to do to lateral to a "better" place, if that's ultimately what you want.
Thank you man appreciate the response
Agree with this. RBC is solid and if you don’t like it after a year you can lateral pretty much anywhere. Don’t worry about this at all and just focus on building your skills
thanks bro appreciate the comment hope u have a good one
RBC (usually) has lower hours too. RBC and DB are basically 2-3 spots away in terms of prestige, RBC and UBS isn't that much different either. The only downside is that RBC might have worse comp/bonuses, but it doesn't matter if you're looking to jump ship.
RBC comped higher all in for associate and above than any BB other than GS last year - guess remains to be seen very shortly for analysts this year.
No, you will be fine.
Your foot is in the door, that's the hardest part about getting into IB. You're good.
You’ll be fine. Get started, see how life is, wait for job opportunities and take HH calls and a first meeting to assess if the grass is greener somewhere else.
I’ve seen lots of people from RbC lateral to T1 shops (elite boutique, GS/JPM/MS…) at analyst / associate / vp level, both in NY and in London.
Make sure you learn and do your job well, your skills will be fine
Thank you for this I appreciate the response. Generally do you know how RBC places in PE? I tried researching but a lot of mixed answers.
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Which group? All places listed are good though
Good choice on not DB. DB not a BB for a reason - all my buddies that went there got cut in the downsizing or left early because of impending downsizing and lack of deal flow.
UBS and RBC are going to be relatively equivalent in terms of exits. Team culture should be the deciding factor in a decision like that - which clearly you picked correctly.
Thank you my man appreciate it a bunch for real. Have a weekend brotha!
lol - everyone is going to shill for their bank but the reality is that these banks are not differentiated enough from each other in most regards to sweat it. RBC is a super-stable bank that doesn't regularly have scandals like DB or questions about the company's long-term commitment to the space (UBS) but also doesn't have the legacy name. RBC did pay higher than any BB not named Goldman last year, they seemed to comp more in line with top MM banks so maybe they're using that as a comp benchmark now.
Thank you really appreciate the comment, you are a real one! have a weekend brotha
Lol the real meme is everyone pretending there's actually a difference between the banks, it's all the same shit and even the same toilet, maybe the seat cover is different though, I'll give you that
Yeah, you’ll probably never get laid or make it to private equity. My condolences…
I guess not, so long as you want to move to Canuckistan.
Absolutely not. A job in banking is a job in banking at the end of the day. Ofc there are more prestigious shops, but RBC is a marketable firm to work for. There are thousands of people who would kill to be in your shoes so take advantage of this opportunity.
Best of luck
I don't work there, but my school places pretty heavily into IB and fixed income at RBC. Their culture is top notch; you did not mess up at all. Even if the comp is lower, better WLB and culture will be the offset; also remember that "lower comp" does not equal "unlivable wage for a decent quality of life". You can always lateral if you decide that the comp/prestige is something you want more of
First off, congratulations on breaking in. Second, no matter what any hardos might say, the firms are plenty close in “prestige” that you can have a terrific career either way. I would definitely recommend joining the firm that you are the most comfortable with and have the best relationship with. Best of Luck
Take it from someone who was at UBS last summer - you made a very good decision and I wish I had been at RBC for my IB summer. So much of IB, for better or for worse, is predicated on having strong relationships/backing within your group, being in a group/firm at-large where you don't feel awkward and don't have to worry about most people not having your best interest, with the cherry on top being strong mentors who you look up to and who will gladly take time out to develop you. That way, you can focus on the work and be more attuned to learning from it instead of dwelling on the negative aspects. RBC checks those boxes without fail.
IB is very much what you make of it so keep your nose to the grindstone and really figure out what it is that you want to take out of these formative, early years. If you want to become a career banker, you're at a good spot unless a "higher" firm has a product/coverage group that undisputably gives you more enriching deal access, coupled with more openings to move up quickly. If you want the buyside, other finance roles, or even to transition out of finance, your resume will be respected too. But if you start thinking about what ifs, you won't use these years effectively, let alone do well on the job.
Don't let memes or supposed "clout" take up your time. People prioritize different factors in career decisions so start learning how to make these decisions for yourself and only yourself (which seems to be the case here) and just keep moving your feet.
just as an aside, you sound incredibly mature for an intern. i’m sure you’ll do great at whatever bank you’re at
Thanks! This is just what I learned from last summer. I'm actually on the buyside this summer and really liking it a lot, but feel that I haven't been doing a good job to date - hopefully, this will be a nice jolt.
Thank you my man! Really appreciate the response. Yeah I agree with below, you sound mature af haha. Thank you again man I really wanna say thank you for taking the time to write this up for me and to share your input.
Lmao came up short in your JPM/MS/GS interviews??
I actually wasn't high enough of a caliber of a candidate to even get an interview. Jeez bro off your comment I can tell you are an absolute weirdo lol like what was the point of this comment you are a loser
Yes, I would say UBS > DB > RBC. But that is just in terms of prestige. There are other facts you can take into account to make it more balanced.
Punchline is no you didn’t.
You broke in which is the hardest part. Not sure exactly what your goals are, but once you’re in a front office spot, the rest is up to you.
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