RBC or Solomon Partners?
I have a superday for both firms coming up. Assuming I receive offers, I am conflicted on which one to go with. I know RBC has been on the rise, but SP seems to have a strong MM reputation as well. Just curious as to people's thoughts/experiences with any of these banks.
Coming from a former analyst at Solomon, I'd probably choose RBC for the better brand recognition and exit ops. Solomon is good in its niches (grocery, infra, etc), but overall its not as well known and thus less covered by headhunters and the larger buyside shops. Pay / culture is fine, but it's still IB and pay is just street.
What group?
There was no specification for either one.
I work at RBC so please regard my advice with the appropriate grain of salt. RBC is a safe(r) place than nearly every other major wall street IB right now because it's balance sheet is rock solid and largely immune to what's happening in the US bank market (although places like Wells / JPM are obviously safe as well for the same reason). The nice, or rather, interesting thing about RBC is that if you're able to pick a group, you can go into one that's near top of street (eg PU&I) that works you hard or a more chill group with less dealflow (and more MM-focused). Because RBC is not a BB across the franchise, you get these pockets that either punch above or even below the weight of the overall franchise. Good luck!
Hi!
I'll be interning at RBC this summer, 2023 for my sophomore summer, and I am currently networking for group placement. It is hard to get a candid read on which groups get the most deal/flow or have the best culture from talking to people because everyone says their group is the best. The groups I am shooting for are Sponsors, RE, and FIG. Sponsors because I have really enjoyed the people I have talked to. RE because I have a specific interest in FIG since I have heard it is the best group in terms of deal flow, and I have talked with the most people in that group.
It would be great to get a read of what your thoughts are on these groups in terms of exit opps, culture, deal flow, and any other general opinions. Thank you.
Quite an interesting spread of groups. I don't frequently work with any of these teams except sponsors but even that, only at a senior level. FIG is most flow of the three for sure but for sure much sweatier than Sponsors and probably RE as well. That said, it's a nichey group so you have to be okay being silo'd for exits unless you lateraled first. Sponsors is senior heavy and does not hold pen on models but the seniors are generally cool / chill. Don't think RE is a standout group at RBC in terms of flow but probably closer to the median group and your experience will probably vary depending on who / what you get staffed with. PU&I is a top group, M&A sees a lot of action but both these groups are hardcore with hours. Tech is a no-fly zone atm im (internal restructuring), CME sits separately from tech and is reputedly strong culturally with decent flow. Industrials has pretty strong dealflow and decent culture.
Colleagues of mine have worked closely with the RE group and knew someone who worked there . I do not recommend the RE group. Tons of turnover and seems not to have a very good culture. Seems to currently be a lot of drama in the group.
RBC is also a pretty safe place to be in this market and this turned out to be a blessing in disguise when I accepted the offer. I would highly recommend. RBC did not have massive layoffs like the other banks and came out pretty unscathed
Good to know. Thank you!
I'm in a similar situation and was looking for feedback on Solomon Partners NY C&R and RBC M&A or CME.
Go RBC M&A, the CME only has like 8 ppl (4 juniors) in LA, very cool experience but would be very competitive to break into. (I interviewed there for 2024 and had near perfect interviews and didn’t get it).
CME junior team is definitely bigger than that but I think the issue is that they seem to have very low turnover recently (even in 2021, only lost a handful) so there are probably not many spots up for grabs. Hopefully you ended up somewhere good, interviews are kind of a crapshoot, sometimes even if you nail it for reasons beyond your control.
straight deals
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