RBC increases salary to 95k
Can anyone confirm whether the Litquidity post about pay bumps at RBC are true? Looks like they are matching the BAML bump
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What was posted?
some internal memo about salary bumps for certain departments
Do you know which departments? Would we have heard something by now?
Was announced internally via phone call. Can confirm $10k bump for analysts and $20k bump for associates. This is only for IB.
Do you think this raise in base will be reflected across SA positions for similar banks?
It's likely given the raise goes into effect June 1
It’s likely given the raise goes into effect June 1
Do you mean only applies to GIB? Or other groups like MuniFin?
Bump
Any private-side group, so IB, ECM, DCM, Corp banking, just not s&t and research and such
Heard that BMO was upping comp at the Junior levels. Is that true? Any insight on this?
Yes, it's true. They were the first big 5 to do so.
Close friend confirmed Corp and IB getting 15% increase
For BMO: Is this going to be for incoming analysts, too? I assume this is going forward?
What about TD?
Guggenheim bumped AN1 salary from 85 to 100
Is this happening at RBC in Canada too?
Bump
yes, but it's analysts 10k, associates 15k (vs 20k in the US)
So new associate schedule would be 170, 195, 220?
Do you happen to know if this would apply for Canadian Corporate Banking Associates as well?
When will London pay get increased to match NYC pay?
Probably never
RBC London analyst base was increased by £10k this year.
So what is the expected total comp for analysts/associates in Canada after this bump??
Analyst 1 at RBC all-in is around 160-170k.
Associate 1 should be around 270k.
great intel. thank you!
Would you by chance know the new Associate (expected) base/all-in comp for Corporate Banking (in Canada)?
I would pay RVC to work there. RBC IS THE GREATEST BANK OF ALL TIME!!
Is RBC a top BB now
I wonder why they are $5k below other bank increases for associate
They just one of the first and now are screwing over their employees.
Since RBC is paying lower than almost every BB/EB, will they likely increase their pay anytime soon? If they don't, will people not likely sign there just because of the pay cut?
Sign no, Jump yes. Considering that a banks will still have another hiring wave in a year. I imagine that analyst will be very willing to jump given the opportunity.
They were one of the first banks to raise comp.
HR said they are considering doing another round of raises since street ended up going a bit higher than their initial raise.
Sounds like something a top BB should do.
Any word on if RBC will raise again to over $100k?
I imagine, that if they were to do this they would want to hold off for a bit. Analyst pay bumps started in January - probably going to at least wait till summer / bonus season to try and keep people.
Is the starting analyst salary still 100?
😂 bruh. Why they underpaying?
Also, I love how the original title of this post was "RBC is now an EB"
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