What's up with RBC nowadays?
Honestly whats up with RBC these days? Besides the stuff that's usually talked about on this site (prestige, whether they're a BB or not, exits, etc.), it seems like they've had a decent share of drama in recent times. Curious to hear what anyone has to say about this, especially with regards to some of the things below:
- Recent article "I got my dream investment banking job. Then I collapsed." from Business Insider written by a former analyst at RBC NY. Thought RBC WLB wasn't supposed to be that bad by IB standards (unless your in M&A, PU&I, RE, or one of their other strong groups idk)
- TikTok girl and former RBC analyst making a shit ton of videos about quitting IB / mental health / WLB. Honestly not a good look if your juniors are making TikToks on the job and quitting to make more TikToks about quitting said job.
- That whole RBC Sophomore SA / CVP 2024 SA fiasco (not sure if the threads are still up on WSO). According to some familiar with the matter, kid was an absolute clown and probably the worst intern in the firm's history. Obviously doesn't reflect well on hiring processes for both RBC and CVP to have such a major lapse in judgement when a kid like that slips through the cracks.
- Tragic death of 30-year-old RBC NY associate (see article on eFinancialCareers from last year). Again, on the point about WLB, curious whether that had anything to do with it.
- Going even a bit further back to 2020 pre-COVID, there was that RBC insider trading incident with the recent Stern grad who traded ahead of a client's merger.
Following. What are you getting at, OP? We all know RBC is sweaty (at least the top group)
I’ll preface this by saying I’m not exactly the most familiar with how things are at RBC right now, but I’ve had some friends in their tech group a while ago. I don’t think it was ever that bad for them back then, probably since the group isn’t as strong as say M&A or PU&I. Even still, no one was fainting on the job or literally dying like above, so it’s either something up with the culture or quality of candidates in recent years (this point not relevant to the guy who died btw). That’s what I’m getting at, purely out of curiosity and concern for those who find themselves at a place that may not be as “Canadian nice” as you think.
Kinda got that vibe. Interviewed with them in sophomore year, but didn’t end up progressing in the process. Many seemed a bit tense over the phone and in the SA process
Following
Looks like the rest of RBC is taking notes from RBC calgary
The rest of RBC still has a LONG way to go to catch up with that hellhole...
Sounds like they're hiring softer candidates....but in all seriousness, culture is shit in most groups there. PU&I and M&A you'll get great experience, at a price
100% fact that RBC hires shit candidates. Some of these horror stories sound like some dramatic girl who realized that the best part of the job is a cheesy LinkedIn post and the worst is the actual job
In the States, yeah completely agreed, because RBC is quite low on the pecking order of the smarter candidates recruiting for IB. Talent on a comparative basis is honestly better in the Toronto office (at the junior level specifically), where there's only a few BB / EB seats and as such, RBC TO can still attract fairly smart people.
Again, several points made about the quality of these candidates are valid, but it’s also important to consider the fact that these individuals are probably a very small minority of all diversity hires working in the industry. In my experience there are plenty of people who are perfectly competitive (especially since banking really isn’t rocket science). With that being said, don’t exactly think it’s fair to generalize that all diversity kids are as bad as these three, so unsure about the whole removing diversity programs thing.
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LowCaliberTalent
Thoughts?
True messiah of our generation
Literally🤣
Modern day Aristotle
Jesus christ I know that diversity recruiting is fucked and people (including myself) hate it but why bring genuine stereotyping and racism into this. Super unnecessary
There is a serial fish reheater plaguing RBC’s NY office which is likely driving many folks legally insane
Laughed out loud reading this
Bump
Culture can be interesting if were going off of their CFOs departure because of her relationship with an underling. You can fuck your way to the top there!
diversity hires have been holding back RBC, however the firm can and will turn this around
Interesting handle. Curious if you have an RBC tramp stamp on your lower back?
Congrats on RBC Calgary
Sorry that you’re simply an inadequate white man in an industry run by white dudes. Sounds like you’re just a dipshit
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