Hey guys, I've been reading threads on the forum about RBC. But still confused about how the bank is viewed, trying to get some objective views on the bank (prestige, ex, pay, etc.) and its future outlook. Thx!
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Anyone can feel free to correct me but RBC is a growing platform with its M&A franchise largely driven by its balance sheet, though the firm makes an actve effort to get a (lead) advisory role on mandates as well. This is in the US - I do not have information regarding its presence in canada.
I believe the Healthcare, C&R, LevFin and M&A groups are solid there. From my understanding pay appears to be street
I would say no, that it will continue to be viewed towards the top end of the MM in the US, alongside Baird, Blair, Lincoln, BMO, etc.
Pay, exit opportunities, hours will be just fine in comparison to the others listed.
Got a chance to meet a bunch of bankers at RBC (including head of couple groups) when I had an offer there. Best groups at RBC for exits: Power & Utilities, M&A, Industrials in no particular order. Tech is good if you want middle market growth equity, but exits to lbo shops are non-existent. Healthcare is on the rise after poaching ex-Jefferies (who were ex-UBS) bankers.
P&U sends top analysts to top infra funds like Macquarie, blackstone, and Morgan Stanley. Senior bankers also get you those interviews.ff
M&A is just starting to get some MM PE exits. Recent/upcoming exits include: Leonard Green, TPG Growth, Warburg Pincus (borderline MF?), and HIG. Obviously they were top analysts from top target schools. Pay is on par /above street for this group.
I would disagree with the post above that they'll continue to be in line with Blair, BMO, Lincoln and Baird. They've been way above BMO, Lincoln and Baird in the M&A market for years. You could make an argument for Blair if you love Chicago, but honestly still wouldn't be comparable. RBC right now is in line with Houlihan Lokey and Jefferies. I also know a bunch of bankers who jumped ship from DB to RBC in recent months, and other students who turned down DB to interview at RBC, so take that for what you will. RBC senior bankers are also very involved in recruiting in order to convince students to choose them over some BBs like DB, Citi, and Barclays. Literally heads of certain groups take the time out to talk to their top candidates after an offer, and it seems to be working.
Also fun fact: Rosenbaum from the investment banking book by Rosenbaum & Pearl is the head of Industrials at RBC.
Also wanted to add this: RBC will most definitely not be a top bank in the next 5-10 years. The best I personally see them going in that time frame is a lower BB at best, below Citi, Barclays, and Credit Suisse. Obviously take those and EBs over RBC, no question about it. My post above was to just say that if you can end up being one of the top analysts (and I mean top 5 analyst out of 70ish class), you will have a good shot at MM PE. The rest? They stay on as 3rd year analysts to Associate promotion or go corporate or some other shit
Two of my former MDs came from RBC. Both great guys. One of them, at my most recent BB, was one of the best bankers I've worked with in my career so far. Quality guys that do nothing but quality work in my opinion.
I've heard nothing but great things about RBC and the firm itself has a great reputation. Not sure about pay or exit opps, but hopefully this is helpful to give you some context on the firm's reputation.
idk about the firm/culture, but all my friends there who are analysts get PAID - first year top bucket they paid out like 75 and 2nd year 105, which is crazy