RBC Capital Markets.. Real Opinions?
What's the general perception of RBC in terms of prestige, standings, strongest group, etc? Most of the threads on here are full of jokes and no material content at all.
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Best groups - M&A (but super sweaty), PU&I, FIG (probably best blend of deal flow and culture), RE (bad culture)
Sbd. Any comment on tech?
Probably one of the weaker groups in terms of deal flow, a lot of senior turnover last couple of years. Poached a couple strong software related MDs from CS recently. Good culture though, people don’t have a stick up their ass and a lot of WFH flexibility. Nice WLB too.
Not much M&A work, they basically do 100% financing and capital raises
What’s so bad with the RE culture?
bump
How is the real estate group? Any details would be great!
Energy group is literally #1 on the street for m&a $$$... guy just left there for bain fintech because, crazy
Bump. A summary of any and all groups by dealflow & culture would be interesting
Does anyone know anything about the Industrials group? Is it all Rosenbaum or are any of the other MDs good?
Gassy is decent
Bump
Bump
Bump. Curious what exists look like by group as well.
They're def very solid and well respected, lots of target school kids apply
Extremely mediocre shop, on par with Stifel
Jeez, some RBC analysts are triggered by the truth. Sorry you chose to work there & are only now realizing how other people in finance perceive you
Maybe you're talking about ER and things are different for IB
Been extremely impressed with them in recent years. I remember in college, RBC would always come on campus first and try to finish their interviews before many of other banks even started coffee chats. Much of that was to front run the process and exchange a "guarantee" for a broader selection of candidates. It's a unspoken truth that some people just want to get recruiting done with, even if they "could" wait and potentially do better. Perhaps that is paying off but I think a lot has to do with their ability to take on leverage and get on deals by their willingness to extend financing.
RBC has one of the largest and strongest corporate banking teams in the US. CB gets a lot of shit of they help the other teams get past the hump and win/get on deals. They extend out really low margin revolvers and can finance higher yield debt products at lower rates than traditional US banks which are subject to stress testing and thereby require more collateral or yield. As of now, RBC still isn't known to be "lead" on any deals but I can see that changing as they build a stronger network of clients over time, much like the traditional BB's.
The one very notable downside will be pay. It's an inescapable reality that foreign banks (Japanese, Canadian, French) will pay lower than their American peers (and select European banks like Barclays, CS, etc).
Would SB this but unfortunately ran out of bananas.
While I'd typically agree with you on pay, you may have missed the 2021 comp thread.
Do they still pay sub $100k base?
Can confirm they're at $100
M&A group is super sweaty. Know of some school alumn that didn’t even complete one year.
A very solid bank, but middle-market unlike what WSO may make you think (RBC is not a BB). The stronger coverage groups which you will see competing with BBs sometimes are P&U, FIG, Energy, and Real Estate. M&A and LevFin also get a lot of flow
Would u take RBC over Blair
I am actually pretty bullish on RBC for the future, it seems like they have an aggressive culture. Just a couple questions if you don't mind me asking.
I am aware that the PU&I group is top notch, but what is the financing to M&A ratio of deals they work on, and is it possible to exit to a traditional PE fund from there? From what I hear they tend to get top exits to infra funds?
Does M&A do valuation work on every deal? I head that it is mainly process based work but valuation modelling does go around. From LinkedIn, I saw that one analyst recently went to Brookfield PE, and another one just went to GIP. Historical exits from M&A also include BX (1), Pine Island Capital Partners (1). Do you have any idea on how majority of the analyst class tends to exit?
There also have been ~3 exits to Point72
The street must be starting to notice something
Note: I did not include anyone who made a lateral move and exited to one of these funds
Thanks
RBC Calgary IB for the win
Heard the culture is great. Super chill and the best wlb in Calgary
Because if there's one thing people go into IB for, it's the WLB.
Any insight on their HC US team?
Was a low deal flow group until recently, when they re-structured and poached some strong MDs. Ended up as one of the stronger groups at the bank last year with a lot of momentum. But given the initiative to grow, my understanding is that the group has been getting killed WLB wise.
Thanks! Is this team located in NYC?
I can confirm they do well on the levfin side, are able to dish out cheap revolvers which can win them deals as mentioned above. good group from the analyst experience/exits perspective as well. They don't lead a ton of deals and they do take small(er) right side econs on a very high quantity of deals compared to the most active shops you think of for US LBO financings (BofA/CS/JEFF), but have been around some very impressive names this year for example lead left on $1.5b Yahoo/Verizon Media (Apollo buyout, they have a relationship and often go to RBC for financing).
Bump
Anyone here on their CB team? Would love to chat about the group
Shoot me a message
Hi, hope you are well. I'd also like to know a bit more about their corporate banking division. Thanks!
cant comment on specific groups however it is considered a middle market from what I’ve heard since its presence globally isn’t as strong as the the top BB’s however is definitely a dominant player in the Canadian market due to obvious reasons so basically if u work in canada u can consider them a BB but if u don’t its a middle market at best
Don’t listen to the college kids on here, RBC is a sweet gig.
Lots of ex-rbs people, very happy to be right leads so not much work involved for nice fees.
And they pay well. Would you rather work half the hours of a top BB for 80% of the pay? I would.
I would too but I work at RBC and other than tech, don't see many groups working any less than BB hours. That said, incidence of toxic people is much lower than most banks and lots of chill/nice seniors. Pay last year was higher than all BBs not named GS but let's see how that holds up. I'd want it to obviously but not sure it will.
has anyone heard anything about culture/dealflow at RBC NY Consumer & Retail team?
They just poached a few MDs from Citi so presume they're trying to grow the C&R franchise in NY
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