RBC Return Offer
How were return offers / overall intern experience for those who did RBC IBD before (especially in PUI, M&A, and industrials) ? Thankful for any advice (In NY)
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Career Resources
Based on the most helpful WSO content:
RBC Return Offers: RBC has been noted for having a challenging return offer rate. For instance, one thread mentions that RBC offered 75% of all investment banking summer interns full-time positions, with 82% of summer analysts receiving offers. However, another thread highlights that RBC was particularly brutal for returns, indicating variability and potential difficulty in securing a return offer.
Intern Experience: Interns have reported mixed experiences. While some have found the networking and team interactions enjoyable, others have pointed out the importance of understanding the forward-looking nature of hiring processes. It's crucial to focus on creating goodwill and performing well during the internship to improve chances of landing a full-time role.
Specific Groups (PUI, M&A, Industrials): There isn't specific feedback on PUI, M&A, and Industrials within the provided context, but general advice suggests that deal flow and group needs at the time can significantly impact return offer rates.
For more detailed insights, it might be helpful to connect with former interns or current employees in those specific groups.
Sources: 2019 Return Offer %, Advice for summer and return offer rate?, https://www.wallstreetoasis.com/forum/investment-banking/rbc-was-brutal-for-returns?customgpt=1, How did you manage to get a return offer from another team as a summer intern?, 2019 Return Offer %
Del
NY was around 80%
Nahhh some groups got ripped through especially P&U
how many
That's interesting to hear - I was in a different coverage group and it seemed like most groups usually had 9 or 10 interns per group with 7-8 getting returns.
Would you advise not going for PUI based on return offer rates then?
Most non return offers are due to performance and sometimes headcount issues. If you’re good you won’t have this problem anywhere.
Headcount issues are a plague. Mostly occur as HR wants to maintain 50/50 male/female classes. Nobody will speak up though
Not sure what it’s like in the US - it seems pretty DEI centric. In Canada we have DEI issues but they don’t seem to be as discussed in or egregious as the US surprisingly.
Was at RBC: don't worry about returns. The general rule is that we have a spot for everyone. The ones who didn't get it were the bad interns point blank. Anyone decent and good all got return offers. RBC every year has great return rates, and this year was no different. 80%+ this year as we usually have. RBC is generally pretty lenient with interns, and as long as you can show you are not weird, can work hard, and show that you can learn = you will get a return offer. No headcount issues for RBC returns btw, that's just what some people tell interns without return offers to make them feel better (obviously might not be the case everywhere and there might've been headcount issues at other places, but as someone involved in return offer decisions at RBC, I can tell you that it wasn't a thing for us).
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