I recently applied to an analyst position here. I read some past threads (RBC Calgary Mass Exodus etc.) on WSO and wondered whether there has been any change in the culture over the past year? Any advice would be appreciated. I have heard that this group has had trouble retaining women for various reasons. Should I be concerned?
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The fact that they’re even hiring in the first place and had to put out a dedicated job posting doesn’t send off warning signs to you?
Why is it concerning that a bank is posting a position ?
All the Big 5 have openings right now?? lol This means nothing
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I agree with this!
Pros: RBC is a powerhouse in energy and has really close relationships with all the major integrated oil and gas companies in Calgary. I did a Winter Co-Op in a product team at a Big 6 bank and whenever we pitched to oil companies, RBC was ALWAYS in discussion for the bank that is likely to win the pitch. So if you are passionate about energy, you will definitely get great exposure. Also, their Canadian Head of IB was an ex-energy banker so that tells you how much they have killed it.
Cons: You're going to get similar reps/experiences at other Canadian banks in Calgary, so in my opinion, unless you dream about Oil and Gas all day, every day, then I definitely don't think it's worth getting crushed 24/7 (and feeling like shit - which could affect you physical and mental health as well) when other banks have much better cultures. Similar to what I say about BMO Metals and Mining, it's just not worth all that stress and late nights just to have a few more deals under your belt (and a few extra 1000s in the bonus) unless you are really passionate about the space especially when all the Big 5 banks are strong in the oil and gas (and mining) sector.
My advice is to not pull out your application and do the interview if you get one and feel it out. Worst case if you get an offer, you can leverage it to help you seem more desirable to a bank that you actually want to go to (& you get some interview practice). Of course, I'm assuming you are not in IB right now and are hoping to break-in
Thank you
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This is an excellent post. Top groups will not continue to be top groups if they have widespread culture issues.
100% agree.
Urgently need input. I just applied to a position and need any/some updated information on the office. The group seems good/solid/welcoming. I would be lateraling from a boutique and looking to work in a more established bank to further my career. Anything I should consider?
Stay away as far as you can. Sincerely mean it. This place will ruin your life. Additionally both of their 2 somewhat more senior females have just quit.
I very much thank you for your response. Any additional input on this?
lmao - are you kidding me? There's an entire thread devoted to how bad this place is. Someone literally went to prison for sexual assault from there.
Yes. An associate was charged with sexual assault and you can read about that in the media. Want input? Its IB. It’s a male dominated environment and this can foster a bro culture. In general, there are often implicit biases against women in these types of environments and sometimes it’s just outright misogyny. If there are no senior women who have stayed and worked their way up the ranks, this should be very concerning. If the women aren’t choosing to stay, there are likely major underlying issues at play. What kind of issues? Here are some speculations. In these settings, women typically are on the fringe and they feel excluded. They are “one of few.” The men have a seat at the table and the women just don’t. As a result, women’s voices and their concerns are not heard at senior meetings because there is actually no one to represent them. In IB, women often miss out on opportunities both work-wise and socially simply because they are not one of the guys. As an example, guys often go to hockey games and dinners to schmooze with clients or seniors invite the guys to go for a beer or to play golf whereas the women in the office are often not included. If the women are repeatedly overlooked, they can feel isolated and less than. When staffers are handing out work, who are they going favour? Is it going to be their buddies or the women in the office? In a room full of men, women can also feel undervalued because they are often not listened to, they are talked over or they are interrupted. IB hours can be excessive and working with some seniors can be challenging especially if they are volatile hardos. If conditions like this continue, the women get fed up and they will leave within a couple of years. It ends up being a vicious cycle of turnover with no women staying on to become seniors themselves.
Stay away from this craphole. You’ll do yourself a favor. Take any other Canadian bank over them - you’ll get the same exits and experience.
Pay attention information provided above. In a nutshell, they can’t keep women on a long-term basis. Much has been written about the long hours, lack of boundaries, no protected time, difficult personalities, poor mental health and general unhappiness. Lots of really disturbing personal anecdotes have been highlighted.
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