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Royal Bank of Canada
RBC employees collaborate  

Recognized as one of Canada's Top 100 Employers (2024) and Greater Toronto's Top Employers (2024):

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Top 100 Employers (2024) and Greater Toronto's Top Employers (2024):

  • RBC enhanced its family-friendly benefits over the past year, providing increased support for fertility drugs and treatments as well as support for surrogacy and adoption (each to a lifetime maximum of $20,000 respectively) -- additionally, the bank provides maternity and parental leave top-up for all new parents, to 100 per cent of salary for up to 12 weeks
  • RBC offers a number of dynamic professional development opportunities, including a social impact learning program for high-potential employees to apply their skills working with a community partner to solve organizational challenges -- thus far, the program has served over 48 community partners, engaging more than 369 high-potential employees
  • Through RBC's in-house "Wellness+" program, the bank encourages employees to adopt healthy habits, rewarding healthy behaviour with credits to a personal wellness account -- additionally, the bank offers coverage for mental health services to $5,000 annually (inclusive of psychotherapists, family therapists, marriage counsellors and clinical counsellors) and publishes a Blueprint for Well-being and Mental Health to promote public awareness
Employees at RBC's head office in Toronto  

Employer Background

Industry Banking
Established in Canada 1869
Publicly traded yes
Major Canadian locations Moncton NB, Winnipeg MB, Mississauga ON, Ottawa ON, Halifax NS, Calgary AB, Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 66,044
Part-time employees in Canada 3,926
Full-time employees worldwide 92,284
Average age of employees in Canada 41 years
Longest serving employee 61 years

Work Environment Rating: A

Flexible work options hybrid work option, flexible work hours, telecommuting, shortened work week (fewer hours with less pay), reduced summer hours
Commuter amenities walk to public transit, transit subsidies, electric vehicle charging stations, secure/sheltered bicycle parking, nearby bike sharing station
Onsite workplace features meeting and conference centre on the 40th floor, wellness rooms (private rooms for nursing mothers, insulin injections, meditation), sacred spaces (multi-faith prayer room), sit-stand workstations, private phone booth, nap room, discounts at local restaurants
Employee lounge amenities comfortable seating, fireplace, music, television, foosball table, each floor of the head office features an Oasis lounge with televisions and self-serve kitchens
Other food options at main location all-weather access to the underground PATH walking network leading to a variety of shops, cafes and restaurants throughout the downtown core
Onsite fitness facility shared-use facility, subsidized membership, treadmills, stationary bikes, stairmasters, elliptical trainers, rowing machines, weights, shower facilities, (fully equipped fitness facility onsite at RBC WaterPark Place)

Work Atmosphere & Communications Rating: A

Employee social committee name a number of employee-led social committees across the bank
Past social events global events featuring thought leaders, celebrities and athletes as speakers and panelists, year-end performance galas to celebrate and recognize employees for their contributions
Cultural aspects dress-for-your-day policy, casual dress (e.g. jeans) daily, music while working, concierge services available, employee sports teams, organized social activities for retirees
Employee communications intranet site, company newsletter, internal social media
Other in-house communications CEO Quarterly Bulletin email, annual all-employee town halls (in-person and virtual), employee roundtables and market visits from leadership, RBC Disruptors speaker series

Financial Benefits & Compensation Rating: A+

Financial benefits note RBC has multiple employee groups, financial benefits may vary by position
Outside salary surveys participates in outside salary surveys every 12 months
Employee salary reviews individual salaries are reviewed every 12 months
Long-term savings defined-contribution (DC) pension, matching RSP
Long-term planning retirement planning assistance, phased-in retirement work options, life & disability insurance
Share purchase plan available to all employees
Year-end bonuses available to all employees
Referral bonuses (max) new employee referral bonuses (up to $10,000) for some positions
Signing bonuses available for some positions
Additional financial benefits corporate discount program (e.g. retail, services, travel, etc.), discounted home insurance, discounted auto insurance, low-interest home loans, discounted auto lease rates, discounts and preferred rates on various RBC products and services, MyAdvisor financial planning tool, Invest in Yourself website (resources to help employees make informed financial decisions based on life stages)

Health & Family-Friendly Benefits Rating: B+

Health plan note RBC has multiple employee groups, health plans may vary by position
Health plan premium as part of the health plan, the employer pays up to 100% of the premiums
Flexible coverage health plan is flexible with adjustable premiums and coverage levels
Minimum hours worked for coverage 15 hours per week
Waiting period there is no waiting period for coverage
Family coverage option yes
Retiree coverage with no age limit yes
Health plan includes traditional coverage (e.g. prescription drugs), employee assistance (EAP) plan, semi-private hospital room, physiotherapy, medical travel insurance, homecare, medical equipment and supplies, massage therapy, nutrition planning, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. acupuncture, naturopathy), virtual healthcare services
Mental health practitioner benefit up to $5,000 each year
Health spending account up to $895 each year
Wellness spending account up to $300 each year
Fitness club subsidy up to $300 each year
Additional health plan information surrogacy benefit (to a lifetime maximum of $20,000), adoption benefit (to a lifetime maximum of $20,000), gender affirmation coverage (to a lifetime maximum of $50,000), coverage for mental health practitioners includes psychotherapists, family therapists, marriage counsellors and clinical counsellors, access to Carepath (a healthcare navigation service), company-wide corporate rate memberships for GoodLife Fitness centres across Canada (with over 250 locations), separate health plan for retirees with contributions based on years of service
Additional health and wellness initiatives Wellness+ program (to promote physical activity, healthy eating, mental well-being, and financial literacy)
Family-friendly benefits note RBC has multiple employee groups, family-friendly policies may vary by position
In vitro fertilization (IVF) $20,000 per lifetime
Maternity top-up (mothers) up to 100% of salary for 12 weeks
Parental top-up (fathers) up to 100% of salary for 12 weeks
Adoption top-up up to 100% of salary for 12 weeks
Additional family-friendly benefits extended parental leave to unpaid leave, phased-in return to work for new parents, academic scholarships of up to $2,500 per child
Additional family-friendly information 10 days of emergency back-up child care, emergency back-up elder care (RBC will cover the cost of 6 visits per year, each visit is 3 hours)

Vacation & Personal Time-Off Rating: B

Vacation note RBC has multiple employee groups, vacation policies may vary by position
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Vacation jump vacation increases after 10 years of employment
Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career
Personal paid days off employees can schedule 1 personal day off each year, as needed
Unpaid leave maximum 12 months
Additional time-off information starting vacation depends on years of experience and position level, employees have the option to purchase additional vacation time (up to 20 unpaid days), can also apply for short family responsibility and personal leave if needed, as well as up to 3 paid days for religious leave

Employee Engagement & Performance Rating: A

Employee performance reviews employees receive individual performance reviews every 12 months
Managers receive performance review training yes
360° feedback option as part of the review process, performance feedback is also solicited from co-workers and other managers familiar with each employee's work
Confidential employee feedback employees can also provide confidential feedback on their manager's performance
Exit interview exit interview option is available for departing employees
Performance recognition online recognition platform, individual performance bonuses, on-the-spot rewards, peer-to-peer recognition awards, long-service awards, tailored and unique rewards (e.g. travel), online instant thanks program lets employees send e-cards and recognize their colleagues for work accomplishments, achievements and milestones, formal awards include quarterly individual and annual team awards, and a Community Leader and Global Citizen award
In-house survey period in-house surveys are conducted every 3 months
Outside survey period outside consultant surveys are held every 3 months

Training & Skills Development Rating: A

Career planning in-house career planning services, online employee skills inventory
In-house training initiatives mentoring, in-house training, online training, leadership development programs, paid internships, subsidies for professional accreditation
Tuition subsidies (related to job) yes
Tuition subsidies (unrelated to job) yes
Unique training & development programs career conversations and development plans, Grow and Develop newsletter (features micro-learning content for in-demand skills), Spark! (internal platform that facilitates gig work amongst employees), access to external on-demand learning platforms (Udemy, SkillSoft), social impact learning program for high-potential employees to apply their skills working with a community partner to solve organizational challenges

Community Involvement Rating: A

Scope of charitable involvement international
Employee charitable involvement employees are involved in selection of charities
Total employee volunteer hours (on company time) over 24,608 hours last year
Total number of charities supported last year approximately 12,000 charitable and community organizations were supported last year
Some of the community organizations supported supports numerous charitable and community initiatives through well-established in-house programs, including RBC Future Launch (youth), RBC Tech for Nature (environment), RBC Emerging Artists Project, and formal disaster and humanitarian relief efforts around the world
Charitable giving matches employee volunteer hours with company donations
Community highlight RBC is one of Canada's largest corporate donors, providing over $109-million in cash donations and over $45-million in community investments around the world last year. Additionally, the bank maintains a Communities Together Fund, allowing employees to team up with colleagues, friends, and family to support a local community partner. Employees must identify a community organization, define their plan to help, apply for a grant of up to $1,500, and schedule a volunteer event.

Recognized as one of Canada's Top Employers for Young People (2024):

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Top Employers for Young People (2024):

  • Recent university and college graduates can acquire career-level experience through RBC's Career Launch Program, a one-year paid internship for graduates under the age of 24 -- the program features rotations in corporate offices, mentorship, professional networking and community experience via a short-term placement with a Canadian charity -- program participants also participate in the Next Great Social Innovator Challenge, a capstone learning event that invites associates to apply design-thinking skills to solve a real-world challenge
  • The RBC Amplify program provides students with a platform to build innovative solutions to real challenges faced by the organization through an intensive four-month summer program -- students are assembled into teams of four and receive continual support from subject matter experts and team members over the course of the term, culminating with the Amp Expo where students present their solutions to executives, stakeholders and RBC employees
  • Over the past year, RBC welcomed the first round of participants in its new 'Boost' development program, designed to help new grad technologists enrich their professional skills through interactive workshops, personalized mentorship, coaching, and the completion of individual and group deliverables that are tied to the program's core competencies
RBC employees in a team meeting  

Highlights

Industry Banking
Major Canadian locations Moncton NB, Winnipeg MB, Mississauga ON, Ottawa ON, Halifax NS, Calgary AB, Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 66,044
Student opportunities summer jobs, co-op opportunities, paid internships
In-house training programs orientation program, in-house training, online training, in-house career planning services, online employee skills inventory, mentoring, leadership training
Tuition subsidies (related to job) yes
Unique training and development opportunities Amplify summer internship (students solve business problems, pitching their work to executives), MBA and master's graduate programs (examples include global investment banking associate, global markets program associate, wealth management generalist), technology and operations program for post-secondary students in various roles (developer, data scientist, business analyst, UI/UX designers, cyber security analyst), Indigenous Peoples development program for early-in-career talent (2-year rotational program combines practical, hands-on business and community experience with learning, mentorship and professional networking opportunities), leadership development program (2-year program with 4 6-month rotations, formal training, coaching, and mentoring), digital mentorship platform
Additional highlights "Welcome to RBC" onboarding assistance (new employees have online access to checklists and tools), summer student orientation (informative orientation sessions), partnership with Career Edge (paid internships), technology and operations program for high school students (work experience opportunities), Future Launch scholarships (community investments and other support to help prepare youth for the future of work, dedicated scholarships for Indigenous and Black Youth), RBC Future Launch hosted five virtual workshops for young people starting their careers (ages 15 to 29), Discover RBC (six-part series provides a holistic understanding of the various teams at RBC, career paths and skills needed to succeed)
Dedicated employee resource group NextGen to empower young professionals (7,500 members nationally that focus on developing capabilities, connections and community), RFuture (focuses on engaging, connecting, and inspiring the next generation of leaders at RBC)
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

Recognized as one of Canada's Best Diversity Employers (2024):

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Best Diversity Employers (2024):

  • As part of RBC's action plan against systemic racism, the bank increased its staffing goals for BIPOC executives from 20 per cent to 30 per cent and is committing 40 per cent of all RBC summer opportunities to BIPOC youth (the bank once again exceeded this goal in 2022 with over half of summer internships going to BIPOC youth)
  • RBC is committed to developing Indigenous talent pipelines through a two-year Indigenous Peoples development program for early-in-career Indigenous talent, providing exposure to finance, auditing, risk management, technology, marketing, capital markets or human resources -- in the past year, participants gave back to local Indigenous communities by working with nine charitable organizations on meaningful projects
  • To improve women executive representation, RBC set target goals with over 40 per cent of vice-president and above roles going to women and 31 percent to minorities in the past year -- across all roles, women represented over half of all new hires and promotions and 43 per cent of new executive appointments
Employees at RBC's Toronto office  

Highlights

Industry Banking
Major Canadian locations Moncton NB, Winnipeg MB, Mississauga ON, Ottawa ON, Halifax NS, Calgary AB, Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 66,044
Management of diversity and inclusion initiatives global diversity leadership council is supported by business unit diversity councils, human resources, and employee resource groups, global centre of excellence sets strategy and goals across the organization, RBC announced an action plan against systemic racism in 2020
Performance management and accountability manages a workforce diversity census to encourage employees to self-identify, quarterly diversity scorecard for each of RBC's business and functional units (tracks representation and statistics for hires, promotions, and departures), diversity and inclusion objectives in the performance management goals of all people leaders, aims to enhance pay equity reporting to encompass racial equity analysis, staffing goal of 30% BIPOC representation for executive roles and is committing 40% of all summer opportunities to BIPOC youth
Employee resource groups Women in Technology and Operations, RWomen (women in Capital Markets), Women Advisory Board (women in wealth management), REACH (persons with disabilities), Mosaic (visible minorities and new Canadians), PRIDE LGBTQ+, Royal Eagles (Indigenous Peoples), NextGen
Noteworthy diversity strategies and policies emergency backup child and eldercare in several major centres, workplace gender transition guidelines (for employees, their manager and other colleagues), supplier diversity program, publishes an annual Indigenous Partnership and Reconciliation Action Plan Report to demonstrate how RBC is working with and for Indigenous communities in many ways on reconciliation
Recruitment initiatives diverse slate of candidates required for pipeline positions, online recruitment system has an option for LGBTQ+ candidates to self-identify to receive more targeted recruitment assistance where necessary, extensive partnerships with community organizations to recruit diverse candidates (Career Edge, Ready, Willing and Able, and Abilocity, to name a few), Indigenous summer internship program
Retention and development programs diverse talent sponsorship focus with a reference guide for leaders, Indigenous Peoples development program for recent graduates (two-year rotational program with exposure to different disciplines), Ignite (10 to 12-month leadership development program for high-performing BIPOC talent), Project Beacon initiative to help Black professionals access professional development opportunities such as mentorship and sponsorship, women in leadership program (10 to 12-month initiative with accelerated training to enhance leadership capabilities), Early in Career Women's Dialogues (interactive workshop with 100 women featuring candid stories from female executives), women's peer coaching network, Indigenous mentoring experience (Indigenous to Indigenous mentoring for Indigenous employees, Indigenous to non-Indigenous reciprocal mentoring also available)
Training and awareness initiatives Destination Diversity intranet with self-study materials and resources, online Inclusion Learning Centre (central resource of tools, stories and resources), mental health training and resources, Indigenous cultural awareness program "4 Seasons of Reconciliation" (partnered with First Nations University of Canada), mandatory anti-racism and anti-bias awareness training
Diversity highlights offers clients real-time video American Sign Language support through a language interpretation app in branches across Canada, BlindSquare navigational app for blind and partially sighted people at approximately 250 branches (facilitated in partnership with Canadian National Institute for the Blind), committed $100-million over five years in small business loans to Black entrepreneurs, launched Black Entrepreneur Startup Program in collaboration with Futurepreneur Canada, committed $1.5-million to organizations that support social and racial justice for Black communities, such as NAACP Legal Defense and Educational Fund and the Equal Justice Initiative, RBC Foundation donated more than $11-million to organizations dedicated to supporting Indigenous peoples
Highlights from the past year enhanced family planning benefits (coverage for fertility treatment, fertility drugs, surrogacy and adoption services, up to $20,000 max for each)

The Career Directory

Royal Bank of Canada has been selected for The Career Directory, our guide to entry-level recruitment for recent college and university graduates.
RBC employees in a meeting

Highlights for New Grads

Industry Banking
Full-time employees in Canada 50,000+
Major Canadian locations Moncton NB, Winnipeg MB, Mississauga ON, Ottawa ON, Halifax NS, Calgary AB, Toronto ON, Montréal QC, Vancouver BC
Student opportunities paid internships, summer jobs, co-op opportunities
Training subsidies for professional accreditation, orientation program, online training, in-house training, mentoring, in-house career planning services, leadership training
Other info for new grads RBC offers a variety of development opportunities including co-ops and summer placements, university and college graduate programs, master's graduate programs, diversity development opportunities and mentorship programs.
Typical new grad positions Business Analyst, Client Advisor, Communications Analyst, Data Analyst, Global Investment Banking Intern, Business Control Intern
Work benefits health benefits for new employees, flexible work hours, telecommuting, transit subsidies
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

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