RBC Global Markets
I'm going to be interning in RBC's Global Markets program this summer and curious people's past experiences.
How did you like it? What's the reputation in Toronto and the U.S.? For those who returned full-time, where did you witness people or decide yourself to exit to after working for a bit? How much are certain teams the most competitive to try to place on for full-time? What is the process like for the full-time rotational program placements? What is full-time comp like?
Please feel free to pick any of the questions to help out with and tell any other helpful info.
Based on the most helpful WSO content, here's what you need to know about RBC Global Markets and related insights:
Reputation in Toronto and the U.S.: RBC is considered a strong player in Canada, with its M&A and Power & Utilities groups being particularly well-regarded. In the U.S., RBC is seen as a growing platform, leveraging its balance sheet to secure deals. However, it is often viewed as a mid/lower-tier BB (Bulge Bracket) bank, with a solid presence in North America but limited influence in regions like LatAm, Africa, and Asia.
Exit Opportunities: RBC provides decent exit opportunities, especially in the U.S., where it offers better lateral and private equity opportunities compared to its Canadian offices. Groups like M&A, Industrials, and Power & Utilities are noted for strong exits.
Competitive Teams for Full-Time Placement: The M&A, Power & Utilities, and Industrials groups are highlighted as some of the best at RBC, making them highly competitive for full-time placements. These groups are known for their deal flow and exit opportunities.
Full-Time Rotational Program Process: While specific details about the rotational program process aren't explicitly mentioned, RBC is known for its structured approach to recruiting, often front-running the process to secure top candidates early. This proactive strategy might extend to their rotational programs as well.
Compensation: RBC's compensation is generally lower than its American and select European peers (e.g., Barclays, Credit Suisse). This is a common downside for foreign banks operating in the U.S. market.
Additional Insights: RBC's culture is often described as positive, with a strong corporate banking team that supports other groups in winning deals. However, some groups, like M&A, are known to be particularly demanding, with high workloads.
If you're aiming for a specific group or exit opportunity, focusing on the M&A, Power & Utilities, or Industrials teams could be a strategic move. Best of luck with your internship!
Sources: How is RBC viewed on the street? Seeking for objective views., RBC is NOT a BB. Change my Mind., RBC Capital Markets.. Real Opinions?, The rise of RBC Capital Markets, https://www.wallstreetoasis.com/forum/investment-banking/best-ib-groups-in-canada?customgpt=1
I'm talking about RBC Global Markets, not just Capital markets. Global Markets falls within capital markets.
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anyone heard from their SF team
pretty strong team in toronto they typically work with a lot of US clients
bad intern return rate from what i've heard (~40%)
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