RBC Industrials
Not in the group but on the same floor, but I saw a bunch of people helping an analyst an Industrials passed out. Think they got rushed to the hospital after. Genuinely concerned and curious if anyone knows what happened. Was it a bad staffing, medical, or something else? Hoping they're okay
Following
What’s up with all these industrials groups destroying people? Is it really that much worse than the other coverage groups across the street?
Prayers for this analyst
Industrials tends to be on the sweatier side across the board due to group dynamics - large coverage universe with lots of MDs chasing a broad range of clients, older school clients -> older school MDs -> old school grindy banking wlb expectations and culture, and very competitive space with no bank really dominating a vertical.
"...very competitive space with no bank really dominating a vertical."
Baird Industrials says otherwise.
Agree on the old school nature of Industrials. In rust we trust
Have it on a first hand account the kid who passed out on the floor pulled an all-nighter the night before and had been getting crushed for weeks. Yet another example of out-of-touch senior bankers/staffers not having a pulse on capacity. We don't play a contact sport, there should never be a stretcher in the pen.
On a product team that works with the group quite regularly. There’s a third year analyst in that group who’s apparently awful to work with, but somehow still gets to play up as associate regularly. Honestly, we don’t even know what he does, other than pushing things onto others with arbitrary deadlines for non-urgent tasks. Wondering if that kid was working with this guy and had a lot of random bullshit dumped on him the night before…
If so, surprised the firm hasn’t fired this dude yet. He’s a third year who didn’t get A2A earlier last year, so shouldn’t be too hard…
So accurate. Im in M&A at rbc and I will never ever admit that or type where I work but for this guy I had to. I know exactly 1,0000% who you are talking about.
He is the biggest douchebag to all juniors and fellow analysts. He will suck up to seniors so much but EVERY SINGLE JUNIOR HATES HIM SO MUCH. He is probably just insecure and berates people all day. Everyone at the bank hates him.
Del (corrected assumptions below due to sampling size bias; not every RBC group is extremely sweaty relative to peers, but some are).
yeah - no, anyone who has experience beyond reading WSO headlines knows that RBC groups vary greatly. There are definitely many that work you less than average. Industrials is not one of them.
What are some of the chiller groups?
That exists at every bank. Even UBS's worst groups don't have analysts pass out (at least none I have heard of in the groupvine over the last couple of years). UBS also has fine culture groups and groups with chill hours, but that doesn't mean the bank is a good culture bank or a chill bank. Banks in this tier generally will have some chill groups simply because many of their groups don't do that much; that's only natural. Anecdotally, I have also interviewed RBC people in the M&A group, and those kids there work much harder than the top UBS groups.
Thoughts on RBC FIG?
This kid in RBC singlehandedly caused 3 interns to stay up til 6 am one time for no reason while he went out drinking. A whole HR investigation occurred.
Was this last summer?
.
Think this is referring to what happened two summers ago (so to the current crop of 1st years when they were interns).
Man, they’ve got it rough with this dude - first had to deal with him as interns, and now as first years. Again, not too sure how much of the first year class interned in the group, but for the ones that did, surprised that they even decided to return to the same team
How’s the deal flow in industrials
Bump
Honestly what a fall this group has had. As someone who worked there a few years ago, I remember Industrials was seen as one of the coveted, better culture groups (I specify more so as in people, not hours) when I joined. It was never easy work wise, but I could say I genuinely respected and enjoyed most of the people I worked with while also getting relatively within RBC good experience and comp. Everyone was super chill and outwardly helpful towards juniors recruiting, analysts pushed back on work when necessary, and staffers were very responsive when you were overstaffed or had issues with bad managers. We all had some late nights, but I personally never did a true all-nighter in 2 years there, and anytime someone worked past like 3am the team very clearly would take it easy on them the next day, etc. If you asked me then, I probably wouldn’t have believed something like this could happen. Unfortunately the culture shift seems to be just the transience of banking — a lot of good people left, some who stayed became sellouts, those in charge cared less and less, and a few bad hires here and there got added to the mix. I still vaguely know a lot of the characters involved in the group and I can clearly see the evolution. I’ve also heard the ongoing trend that some new analyst classes were quite poor, so maybe things are taking longer to get done or they’re losing credibility to speak up. It’s sad to see, but a reminder that things change quickly and it only takes a few bad eggs to ruin everything. Never thought I’d see the day RBC M&A could dunk on us, c’est la vie.
how bad is M&A group?
Take with grain of salt as this may be a few years outdated. But my general thesis was always that if you’re thinking M&A for “deal experience” and exits, just go to a more prestigious bank instead. Knew multiple people who reported better experiences at the BB’s they lateraled to.
You’ve just described Baird Industrial as well, and your reasonings are spot on.
Interned at RBC a couple years back. Industrials would keep interns up until 4:00am regularly. It wasn’t irregular that my friends would get comments like “get this on my desk by 8:00am tomorrow or else…” Pretty awful over there.
Don’t know what it is but heard FIG and RE also have very high turnover
I also heard on my floor that a number of FIG analysts quit simultaneously
Any idea at what level and/or the reasons why?
I’m not sure exactly what happened, but I saw something similar happen before in another department. Sometimes it’s a mix of stress and not taking breaks, and the staffing might not always catch it early. Hopefully, it’s just a one-off and they’re doing okay now.
Can anyone shed light on PUI culture
Second that
Del
Believe they are one of the more chill groups
anyone able to shed light on the Tech M&A group
Any insight on Energy too
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