There are newer employer reviews for Royal Bank of Canada

Great benefits, bonuses, and professional environment!

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

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

Pros

- Excellent management, I never worked for a company that had this level of professional management -they were all awesome!
- Good work environment here -many of the staff are career focused and want to move up.
- Competitive atmosphere but employees generally do not step on each others toes.
- Many of my former co-workers including myself were able to move to more senior roles with RBC and other firms as a result of Direct Investing experience. Good reputation in industry.
- Management will help you in your career development if you ask. Job shadows with other departments, special projects, courses.
- This is a very good starter position for B.Comm and BBA graduates with some experience. Perfect position for students that want to complete CFA -you get real world exposure to financial markets.
- All CSI courses were were paid for if you passed, $1000 was provided towards CFA as well.
- Lots of interdepartmental transfers, (back office, outbound team, email team, processing)
- If you reach the outstanding, or exceptional performance level, bonuses are excellent (10-20% of base pay). Solid bonus for standard performers.
- Excellent company direction and focus. RBC's reputation stands out and when you work for them you really feel like you are with the biggest bank -sense of pride that you work for #1.

Cons

- Base salary is low but on par with industry pay.
- Difficult to get promoted within department as there are only so many team leaders and managers (however, lots of outside opportunities within RBC Financial Group).
- Some of the systems are outdated as is the case with most financial institutions.

Advice to ManagementAdvice

- None, great job!

Recommends
Positive Outlook
Approves of CEO
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  1. 3 people found this helpful

    Sucking blood out of a stone

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Account Manager in Vancouver, BC (Canada)
    Former Employee - Senior Account Manager in Vancouver, BC (Canada)

    I worked at Royal Bank of Canada full-time (more than 10 years)

    Pros

    The company is very transparent about it's policies and expectations from it's employees. Benefits are comparable with industry standards.

    Cons

    The direction in which the company is heading is worrisome. It has forgotten the fact that the biggest asset in any company is it's employees. Lifers are not valued as the company offers higher salary for external hires. The management would make things extremely difficult if anyone were dealing with personal issues and needed some unpaid time off. The pressure to perform or outperform is enormous, thus creating disharmony between staff risen from "business grabbing".

    Advice to ManagementAdvice

    Number one, Stop putting incompetent weasels as managers. Number two, employees are human beings, not slaves. You can attract more bees with honey than vinegar. Unhappy staff lead to unhappy customers. Short-term profit may improve, but don't be tunnel-visioned!

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2. 1 person found this helpful

    Tolerable

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Account Manager in Hamilton, ON (Canada)
    Current Employee - Account Manager in Hamilton, ON (Canada)

    I have been working at Royal Bank of Canada full-time (more than 8 years)

    Pros

    Local job (no commute). they pay for ongoing education

    Cons

    In my region (regions tend to be fiefdoms) , management believe in motivating with the stick not the carrot. Although I have never had my year end bonus taken away, its a constant threat for everyone, for even minor and insignificant parts of the job. As a group we are told if we dont like it find another job (is that a motivational speech?). Wages are paid according to no particular criteria.... I have seen less educated, less senior, and less successful people paid more than me, and I have also seen the opposite. Management doesnt like us talking salary amongst ourselves for this very reason.

    Advice to ManagementAdvice

    Take some accountability, end the "old boys club" of protecting and promoting each other.
    Deal with issues individually not as a group......if I dont have a problem dont threaten my job.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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