Royal Bank of Canada

www.rbc.com

Royal Bank of Canada Reviews

Updated January 27, 2015
Updated January 27, 2015
544 Reviews
3.5
544 Reviews
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Royal Bank of Canada President and Chief Executive Officer Gordon M. Nixon
Gordon M. Nixon
313 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

Employee Reviews

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  1.  

    Bad experience

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

    I worked at Royal Bank of Canada

    Pros

    Nice building with with a good cafe

    Cons

    I worked as an intern at the main RBC insurance HQ in Mississauga. Nobody spoke to me in the small office, I was never formally introduced. Once I heard the manager say, "who let this kid in here?" as he walked to the meeting room. Instead of mentoring me (and the other students who worked there) they simply ignored us completely. We made lots of telemarketing calls and that was it.

    Advice to ManagementAdvice

    Treat interns well

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2.  

    No advancement opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - SAMBP in Dollard-Des Ormeaux, QC (Canada)
    Current Employee - SAMBP in Dollard-Des Ormeaux, QC (Canada)

    I have been working at Royal Bank of Canada full-time (more than 10 years)

    Pros

    good benefits & vacation time benefits

    Cons

    no advancement opportunities even with education which they wanted can't get ahead , still stuck in same position for > 6 years

    Advice to ManagementAdvice

    don't let your loyal employees go to the competition & benefit from their experience instead of training new ones

    Doesn't Recommend
    Negative Outlook
  3.  

    Office conditions

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Branch Service Manager, Senior Registered Client Associate in Bellevue, WA
    Current Employee - Branch Service Manager, Senior Registered Client Associate in Bellevue, WA

    I have been working at Royal Bank of Canada full-time (more than 10 years)

    Pros

    Not many good things to say.

    Cons

    Small offices, extreme favoritism towards a part time employee. This person basically refuses to cover vacations. Weird how a part time employee can dictate to the branch director what she will or won't do and what hours she will or won't work. Last I checked, the Branch Director is the boss.

    Advice to ManagementAdvice

    Grow a pair and quit playing favorites.

    Recommends
    Negative Outlook
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  5.  

    I had a traumatizing experience working at this company.

    Former Employee - Customer Services Representative in Toronto, ON (Canada)
    Former Employee - Customer Services Representative in Toronto, ON (Canada)

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

    Pros

    I liked the location I worked at.

    Cons

    People were so mean that it seemed more like a mental institution rather than a financial institution. Moreover, the management had no trust in employees getting the work done even way after their probation period.

    Advice to ManagementAdvice

    This is the management style of the ice age era. It has not been evolved since the beginning of time.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    Not worth it

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

    I worked at Royal Bank of Canada

    Pros

    Good benefit programs, good rates on credit products, free banking

    Cons

    Working out of the call center in Mississauga was horrible. You have to be sitting at your desk for 95% of the day. Which means you only had 15 mins per day to go to the washroom, get some water, talk to a friend, get help from a coworker and so on. At the end of the week your "stats" are sent out among the whole team so people can compare and contrast each other - they try to create a very unhealthy sense of competition. The salary is also not even close to being competitive with other banks and is barely more than minimum wage. There was no designated seating, getting a desk was on a first come basis so often you would be stuck without a work space and then be penalized for it. Also, you will be on an automatic dialer so you the calls keep coming and coming, and if you need to take a mental break you have to cut that out of your 15 minutes of freedom or wait until your lunch break.

    Advice to ManagementAdvice

    Management needs to consider the mental and physical health of their employees more. The environment is extremely stressful and draining. The turnover rate is ridiculously high, with about 20 new hires per month - isn't that a sign that something isn't working in your Outbound department?

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7.  

    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

  8. 1 person found this helpful  

    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 a 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
  9.  

    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
  10. 2 people 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 a 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. 3 people found this helpful  

    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 a 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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