Royal Bank of Canada

  www.rbc.com
  www.rbc.com

Royal Bank of Canada Reviews

Updated November 23, 2014
Updated November 23, 2014
507 Reviews
3.5
507 Reviews
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Royal Bank of Canada President and Chief Executive Officer Gordon M. Nixon
Gordon M. Nixon
299 Ratings

Review Highlights

Pros
  • Adequate work/life balance relative to other large investment banks (in 30 reviews)

  • The culture and work environment is very motivating and inspiring for creativity (in 24 reviews)


Cons
  • The bank is fast paced making work/life balance tough (in 10 reviews)

  • Senior Management can be all over the place sometimes (in 11 reviews)

More Highlights

35 Employee Reviews Back to all reviews

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  1.  

    No corporate culture - Some groups worse than others

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Royal Bank of Canada

    Pros

    Good office location with great views and great walking paths along the river for when you need to clear your mind

    Cons

    Abusive bosses seem to be tolerated and bad managers keep getting rewarded.

    Advice to ManagementAdvice

    Weed out the VPs who were hired before the bank had a good reputation in the US. They are insecure when new more highly educated and accomplished talent comes in. They are destructive to the learning process of your new talent. Also, work on building a corporate culture in your NYC office. Seems each group has its own and some groups tolerate abuse of employees.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2. 2 people found this helpful  

    Revolving door of personnel, always trying to upgrade but usually end up downgrading (NY OFFICE)

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at Royal Bank of Canada full-time (more than 5 years)

    Pros

    Decent work-life balance, not that competitive which allowed trading staff to punch out like the flintstones at 5:00 on the dot. Great domestic/canadian bank. Most of the revenue comes from the canadian banking operations, which is the core business and the most successful.

    Cons

    No direction in capital markets, confused about what they were trying to accomplish (NY YORK). Mission statement is un-compatible with risk tolerance/risk appetite.
    Goals are to be in the #9 or 10 player in the market....who sets goals so low??
    Very limited reputation in the US, limited visibility.

    Advice to ManagementAdvice

    Make a much more informed decision vs constantly trying to seek out the "new thing". Recognize that the best talent at other firms would likely not leave as they are considered key employees and the best talent is usually home grown (organic).

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3. 2 people found this helpful  

    Senior management under cfo not up to mark compared to the top banks I have worked for in Wall Street

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Controller in New York, NY
    Current Employee - Senior Controller in New York, NY

    I have been working at Royal Bank of Canada full-time (more than 3 years)

    Pros

    Good pay
    Decent work hours
    Good work life balance

    Cons

    Poorly managed place in the controlling side. Senior management is clueless in the controlling side so there is no motivation for anyone to excel. Worse they are transitioning jobs in controlling to Canada. So beware before joining here. Layoffs even though the bank is making money. Layoffs even for folks rated outstanding. Not because the bank is not making money. But because Toronto is cheaper. Problem I see folks in Toronto can't compete with folks in Wall Street. Management doesn't see that way though. Hope the us government makes them aware that there is a cost of doing business in us.

    Advice to ManagementAdvice

    Please hire good people in controlling from top banks here in the capital markets space after doing a proper peer review. Hire controllers in controlling not management reporting folks who has no clue what controlling is about. Please treat your employees in New York as an investment and not as head counts.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5. 2 people found this helpful  

    Horrible and uncomfortable place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate Director in New York, NY
    Former Employee - Associate Director in New York, NY

    I worked at Royal Bank of Canada full-time (more than an year)

    Pros

    Company pays well and has a good reputation.

    Cons

    They are obsessed with appearances, and really don't care about the quality of your work. For example, if you are at your desk at 7am and you don't get any work done, you are fine. If you come in at 9am and get all your work done, you will be berated for not being in earlier

    Advice to ManagementAdvice

    Stop hiring the "popular kids" and hire people who know what they are doing.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  6. 1 person found this helpful  

    long hours, conflict-ridden environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Valuation Manager in New York, NY
    Former Employee - Valuation Manager in New York, NY

    I worked at Royal Bank of Canada

    Pros

    good financial position of the company

    Cons

    very poor work / life balance
    poor treatment of employees
    sick days coming out of vacation

    Doesn't Recommend
    No opinion of CEO
  7. 1 person found this helpful  

    Poor Management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - IT Project Manager in Rocky Mount, NC
    Former Employee - IT Project Manager in Rocky Mount, NC

    I worked at Royal Bank of Canada

    Pros

    Money was good/ competitive because they were so close to Raleigh but still in a small city. Decent bonus structure, too.

    Cons

    About 80% of USA IT staff were contractors. Very high turnover of regular staff. People constantly moving around because nowhere was good for settling. Management was the reason, poor management all around. Highly political and they expected you to work the same hours as contractors who were getting paid hundreds by the hour.

    Advice to ManagementAdvice

    I would recommend that RBC management look closely at where the talent is and work very hard to keep it. Also recognize the need for a work life balance.

    Doesn't Recommend
  8.  

    Don't waste your time

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Royal Bank of Canada

    Pros

    -Average Salary
    -potentially access to many opportunities

    Cons

    -too much bureaucracy to get anything done
    -RBC routinely fires and pushes out educated people in exchange for foreign contractors

  9.  

    Soul destroyer Job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Representative in Montreal, QC (Canada)
    Former Employee - Investment Representative in Montreal, QC (Canada)

    I worked at Royal Bank of Canada full-time (more than an year)

    Pros

    If you are a 100% "YES BOSS" all the time, then this is your place to work for your whole life. Good luck !

    Cons

    Absolutely insane micro-management stressful classic style, very cocky coaches who think they know everything inside out on the sales side but zero human approach skills. One on one Feedback is not objective, very subjective indeed. If you are an ambitious person who think a bit outside the box only once in a while, then avoid this place because they will make sure to destroy this skill. Look out for yourself, there are tons of other banks that offer much better fair work environment.

    Advice to ManagementAdvice

    The management must coach their team leads / compliance officers once in a while mysteriously to see what really happens on the floor.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    As a former RBC financial planner, this was the worst job decision I ever made.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Planner in Calgary, AB (Canada)
    Former Employee - Financial Planner in Calgary, AB (Canada)

    I worked at Royal Bank of Canada full-time (more than an year)

    Pros

    The company has strong brand recognition and plenty of money for advertising. Products are good. Plenty of opportunities to move around.

    Cons

    Ultimately you need to lose your conscience if you want to succeed here. The corporate culture is riddled with heavy politics. Although there is opportunity, you need to drink the corporate Kool Aid to get ahead. Managers focus on heavy micro-managing of daily activities. There is no leeway to do things any other way. If they screw you over like they did to me, don't bother fighting in court because they'll grind you into dust. Clients are secondary to profits and policy.

    Advice to ManagementAdvice

    Don't ask your employees to be good corporate robots.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    Like a museum of bad software practices.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Development Lead in Toronto, ON (Canada)
    Current Employee - Software Development Lead in Toronto, ON (Canada)

    I have been working at Royal Bank of Canada full-time (less than an year)

    Pros

    It's a stable job where it's virtually impossible to get fired. If you just want a job you can clock in and out of, you can probably be quite happy there. I'm just not one of those people.

    Cons

    It was like walking into a museum of bad practices. A very vertical chain of command structure, where the senior managers were the least versed in technology. All relevant decisions were handed down from above, with the bottom 3 layers (where 99% of software happens) almost completely dis-empowered to affect any kind of improvement. RBC appears to have learned nothing about how to run a software project in the past 20 years, and I don't see things changing in the near future.

    Advice to ManagementAdvice

    You need to understand that the software giants aren't just better than you at software, they are better than you at business. Their technological decisions are manifestations of their business decisions. They are one in the same. You divorce the two, and end up bad at both. Don't fool yourself into thinking that you are solving a harder problem. You are not. They can take over your business faster than you can take over theirs. You need to start emulating them as much as possible, as fast as possible. You are the little guy in this fight. If you wait until they take on your business head on, you will be too late.

    Doesn't Recommend
    Disapproves of CEO

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