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RBC all day

Here's some important considerations for you:

If you have any aspirations to go international (London or NY). Citi is a no brainer. Most of Citi toronto's trading books are run out of NY so you'll be very close with NY if you're hired on full time. Citi canada also has a good reputation for sending people abroad to where they want to go.

If you're dead set on being a trader, as opposed to sales, go to RBC. Citi's toronto traders do some really cool stuff but the team is very small, and the growth focus for the office is more towards sales.

With regards to exit opps, it seems much more easy to go from an international bank to a Canadian bank than the other way around. Overall Citi's name will go further internationally but RBC's will probably go marginally further within Canada.

With citi you'll get more exposure to the macro world (they mostly ignore canadian products), at RBC you'll have to really push to trade or sell the product you're most interested in but if you're good you'll probably get or get close to what you want.

I wouldn't worry about the length of the program, no one will care for FT recruitment and the only trade off is more time to travel/chill or more money but I wouldn't base your decision on this at all.

Bottom line: if you're happy being in toronto and want to trade, go to RBC. If you want international opportunities and exit ops outside of Canada, go with Citi.

Let me know if you have any other questions and I'll try to help

I would usually tend to agree with the above, goto the US bank with smaller team and try to move to another office over time. But truly based on the earnings we are seeing and trends it appears almost as 2007-2009 again where those who worked for Canadian offices of US banks were at risk and none of them hired junior guys in Toronto or grew at all.

Is this your last internship before FT recruiting? If so may want to consider RBC as would be easiest to turn into a full-time offer.