Do Not Believe the RBC Nice Lie
I joined RBC partly because everyone I met seemed nice. My thought was simple: if I’m going to work long hours, I’d rather do it with decent people. Little did I know. Yes, RBC has some genuinely good people, but it also has some of the worst personalities on the street.
Top groups regularly push 100+ hour weeks, and seniors/mid-levels yell at analysts like it’s a sport. The mental health in my “top” group is completely shot, worse than some of my friends at BBs and EBs. Abuse is constant, and the WLB is basically nonexistent.
Now, someone here will inevitably say, “At least you’re getting deal experience.” Sure, but the exits don’t justify the pain. Friends at DB are getting better exits than people in my group, and they’re working way fewer hours. Even the so-called “deal experience” at RBC is wildly overstated on this forum.
I wouldn’t bother posting if this were just an issue in the top groups. But across RBC, the pattern is similar: 80-90 hours, low/no deal flow, and abusive mid-levels. Yes, there are differences between groups; FIG, for example, is notorious for interns not returning or switching groups.
To prospects: don’t buy the “RBC nice” myth. It’s not a bad firm, and I’m grateful for the job, but recruiting sets wildly unrealistic expectations. There’s a reason RBC keeps popping up in viral TikToks about quitting banking, Business Insider articles about people collapsing on the job, and, tragically, an associate's death two years ago.
False, RBC #1 bank. It's the only Elite Bulge Bracket Boutique (EBBB).
The only thing RBC is elite at is making people rage-quit all of finance.
Is it on the level of the EEB (Elite Elite Boutiques) like Tobin RX and FT Partners O&G Houston?
RBC is a true competitor to Tobin RX and FTP (pays 140k btw).
I did my IB stint @ RBC. It really varies by group. M&A, FIG, PU&I and HC? Yeah, this was a thing. But not all the groups are like that. It's an OK bank to work for - my end goal was never MF or UMM, so I was OK with it, but it's very easy to lateral to a traditional BB from RBC, and you can get a MM PE spot if you put in the work. Not justifying any behavior here, because I was in one of those four groups I mentioned, so I get it, but I never really bought into anyone in banking being a certain type of "nice", I just viewed it as a way to get some good experience and then figure out what I want to do after. Never sacrifice your well-being or mental sanity for a job. I was mid-bucket at all performance reviews and don't regret a thing. Some people whose whole identity revolves around the job will tell you that you "miss out on learning" if you aren't top bucket, but PLEASE don't let these people convince you to ruin your life.
Thanks, super helpful to hear, and reassuring from someone who's gone through it before. Maybe it was just a case of me falling for the propaganda/recruiting tactic at the time. I am also just coasting as a middle-bucket, but even then, hours and abuse are so high that it seems unsustainable. I think it's more than just 4 groups by now. For example, have heard very bad things about RE culturally and hours-wise despite the group not having many deals.
I think it's just hard to accept these long hours and the toxicity, given my friends at firms like DB and Barclays are working way fewer hours and getting much better exits. Even the kids at mid or supposed bad DB groups are getting better buy-side offers and interviews than people in my group, even when accounting for schools. I know historically, something many people did is lateral firms, but this market is so dead right now, and I feel like people at RBC top groups have been dealt a very raw hand in terms of the exits and hours combo.
I am wondering what led you down corp strategy instead of PE or lateraling like most do, and if you have any other advice for someone in my shoes?
Commenting under my username - if you want to DM me to chat about it I'm happy to help. Maybe I can point you to some of the right people at the firm too.
OP of the comment you're replying to here. You can DM me if you want to talk about it - maybe I can help.
You can DM me if you'd like to talk about it.
why comments removed by mod?
I offered to help the OP via DM (I wrote the most upvoted comment). Idk why they're deleting it.
This post is all over the place.
You're not going to find a place wtih real deaflow without long hours and competitve personalities.
Most mid-level people at sponsors and large cap corporate development teams just want what they ask for to be done as soon as possible as accurate as possible. They truly do not care if the junior banker advising them has to work late nights or over the weekend. those that do care tend to get run over by their peers.
With that in mind, if there is a select group of people on my team I can protect, it's not likely to be the person leaving for PE in 2 years. The company is hiring you to work for them, not so that you can coast for 2 years and then leave for PE.
Your team is responsible for getting you interest deal experience, mentoring you, etc., No one is responsible for getting you the next job
This post just reads like an overworked junior ranting when they have no other place to rant on a Saturday night, which checks out since I initially saw this post at midnight on Saturday. Seems like this person wants a combo of exits and culture that is rare to come by. Maybe they are "chill" groups at BB/EB's that are better culture and exits than RBC top groups, but RBC isn't an EB/BB, so I am not sure why they expect the same.
I am at another mid-tier BB (Barclays, BoFA, or Citi), and yes, I work less than my friends at RBC, but it's not by that much. Will agree from what I've heard, RBC has worse/more abusive people than my bank from my experience, but maybe that's just group-based, as I am at a "bad" group at a mid-tier BB (ranking based on this forum) and the RBC kids I know are in M&A or PU&I.
That golden "good culture/chill" and "good exits" combo does exist, it's called Greenhill lmfao.
There are various seats where you can have good exits and good flow without bad culture, but I agree that good deal flow inherently means long hours. There are some decent hours, cultures, and exit seats, but those are pretty rare generally speaking to find.
Is this true for both TO and US?
Not in TO, so no idea, but I am USA-based. RBC is one of the worst cultural banks out there, and the worst when evaluating cultures vs. exits. The only other banks where I have friends working as long are top BBs, top EBs, like Jefferies (they still exit way better than we do). The hours seem doable for a bit, but working your 20th straight Saturday at 2 AM takes its toll, as does starting work on Sundays at the morning lasting well into the night of the same week, meaning no break for months. Everyone in my group averages 80-90 hours a week, at most places that's considered a bad week, but for us it's just the norm.
A lot of the former toxic RBS people went to RBC (and obviously Mizuho).
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