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RBC
RBC employees

Recognized as one of Canada's Top 100 Employers (2017)

Here are some of the reasons why RBC was selected as one of Canada's Top 100 Employers (2017) and Greater Toronto's Top Employers (2017):

  • RBC introduced a new workplace model back in 2009, transforming much of its office workspace to reflect changing work styles including collaborative work spaces, support for telecommuting and increased access to video conferencing technology, to support greater workforce mobility
  • RBC manages an in-house wellness program called "Living Well" to encourage employees to adopt healthy lifestyles -- through the program, the bank rewards healthy behaviour with credits for a personal Wellness Account which can be used for wellness-related expenses such as gym memberships and weight-loss programs
  • As one of the country's most successful financial institutions, RBC offers all employees the attractive benefit of becoming an owner through a share purchase plan -- the bank also provides a variety of additional financial benefits including a defined contribution pension plan, matching RSP contributions, generous referral bonuses for employees who successfully refer a candidate (to $5,000) and a range of discounted banking services (from fees to mortgage rates)
RBC employees attempt a Guinness World Record for the largest skating lesson

Employer Background

Industry Banking
Publicly traded yes
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,488
Part-time employees in Canada 5,985
Full-time employees worldwide 73,575
Average age of employees in Canada 42.4
Longest serving employee 64.75 years

Physical Workplace A

Commuter amenities car-pool sign-up program, free parking, subsidized parking, secure/sheltered bicycle parking
Workplace features RBC introduced a new workplace model in 2009, transforming much of its office workspace to reflect changing work styles (including collaborative work spaces and increased access to video conferencing technology in support of greater workforce mobility), the bank's head offices are located in Royal Bank Plaza, a landmark office tower in the heart of Toronto's Financial District offering panoramic views of Lake Ontario, the Toronto Islands, and the surrounding city, the bank occupies 10 major properties in the downtown business district including the 42-storey RBC Centre and RBC WaterPark Place, head office features a rooftop garden (used for special events), an onsite doctor and nurses, onsite fitness facility (shared use with other tenants), telecommuter workstations, nap room, religious observance room, self-serve lunchroom, outdoor barbecue, outdoor patio, discounts at local restaurants
Employee lounge amenities comfortable seating, television, designed with reclaimed wood, multi-function quiet room for meditation, religious observance and nursing mothers
Onsite cafeteria healthy menus, special diet menus
Other nearby amenities fitness club, Harbourfront Park, Waterfront Trail, daycare, restaurants, shopping mall, Eaton Centre, St. Lawrence Market, Sony Centre, Royal Alexandra Theatre, Roy Thomson Hall, Art Gallery of Ontario, David Pecaut Square, numerous fitness facilities nearby, and the PATH underground walking network, which provides all-weather access to the an incredible selection of restaurants and shops

Work Atmosphere & Communications A

Employee social committee name a number of employee-led social committees active across the bank
Recent social events friends and family events such as RBC Day at Canada's Wonderland in the spring, events to celebrate Blue Water Day every June, holiday parties for employees and their spouses, annual Chinese New Year celebration, departmental and branch events across the bank (from golf tournaments to baby showers to summer picnics) and special diversity and inclusion events across the country
Cultural aspects employee sports teams, business casual dress, casual dress Fridays, music while working, concierge services available
Employee communications intranet site, company newsletter, traditional/email suggestion box
Other in-house communications town hall meetings, employee roundtables (with senior leadership) across the bank, video broadcasts, email bulletins, internal social media (RBC Connect) with avenues for employee feedback and online presentations of the #RBCDisruptors speaker series which feature presentations on a range of thought provoking subjects, employee suggestion program (My Bright Idea)

Financial Benefits & Compensation 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 new employee referral bonuses (up to $3,000) for some positions
Signing bonuses available for some positions
Additional financial benefits discounts on RBC banking, investment, and insurance services, low-interest mortgage rates, preferred rates on home and auto insurance, employee discounts on entertainment, travel and products through the Perkopolis service and through a corporate discount plan (from technology to automobiles)

Health & Family-Friendly Benefits 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
Retiree coverage with no age limit yes
Dental coverage routine, restorative, orthodontics
Traditional coverage (e.g. prescription drugs) yes
Additional coverage 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. accupuncture, naturopathy)
Health spending account up to $140 each year
Wellness spending account up to $710 each year
Other health plan information eyecare coverage, fertility drug treatments (to a lifetime maximum of $6,000), personal wellness account which allows employees to earn credits through healthy behaviour, and a Living Well wellness program that provides employees with opportunities to participate in annual health risk assessments as well as various campaigns on nutrition, physical activity, mental well-being and financial wellness, the bank also offers a separate plan for retirees with contributions based on years of service
Family-friendly benefits note RBC has multiple employee groups, family-friendly policies may vary by position
Maternity top-up (mothers) up to 100% of salary for 6 weeks
Additional family-friendly benefits extended parental leave to unpaid leave, emergency short-term daycare, academic scholarships of up to $2,500 per child
Alternative work options flexible work hours, compressed work week, telecommuting, reduced summer hours
Additional family-friendly information formal modified work week program (allows employees to tailor their work week), unique undertime program that allows employees to leave early when work volumes are lower, job-sharing, backup childcare and eldercare services, transitional coaching for female employees returning from maternity/parental leave

Vacation & Personal Time-Off 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 depending on their position, some employees start with up to 5 weeks of paid vacation, option to purchase additional vacation time (up to 20 days)

Employee Engagement & Performance A

Employee performance reviews employees receive individual performance reviews every 6 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 individual performance bonuses, on-the-spot rewards, peer-to-peer-recognition awards, long-service awards, tailored and unique rewards (i.e. travel), formal performance recognition program which includes in-the-moment appreciation awards, quarterly and annual individual and team awards
Outside survey period outside consultant surveys are held every 12 months

Training & Skills Development A

Career planning in-house career planning services, online employee skills inventory
In-house training initiatives mentoring, in-house training, online training, leadership training, paid internships, subsidies for professional accreditation
Tuition subsidies (related to job) yes
Tuition subsidies (unrelated to job) yes
Unique training & development programs no set annual maximum for tuition subsidies, annual Career Month in March to emphasize the importance of career management, professional development library (includes virtual and classroom training options), paid internships for students and new grads in a variety of disciplines, online access to getAbstract (world's largest online library of business book summaries as well as over 3,500 videos and TED Talks)

Community Involvement A+

Scope of charitable involvement local, national, international
Employee charitable involvement employees are involved in selection of charities, employees receive paid time off to volunteer
Total employee volunteer hours (on company time) over 34,836 hours last year
Total number of charities supported last year approximately 11,800 charitable and community organizations were supported last year
Some of the community organizations supported Canadian Women's Foundation, Inuit Art Foundation, University of Regina, TransCanada Trail, Perimeter Institute's International Summer School for Young Physicists, Centre for Addiction and Mental Health, Rise Asset Development (provides low-interest business loans, training and mentoring to young people with a history of mental health or addiction challenges, United Way (over $17 million raised last year), to name only a few.
Charitable giving matches employee volunteer hours with company donations
Community highlight RBC is one of Canada's largest corporate donors, building upon a tradition of corporate philanthropy that dates back to 1891. The company provides donations to registered charities, community investments, social, environmental and economic sponsorships, support for the volunteer efforts of employees and retirees, and the development of financial products and services to enhance social and environmental benefits in the wider community. As part of this focus, the bank established unique programs to help focus its support including the RBC Blue Water Project, the RBC Emerging Artists Project and the RBC Kids Pledge. The bank also employs more than 20 professional grant-making employees who help select charitable organizations for the bank and its employees to support.

Recognized as one of Canada's Top Employers for Young People (2017)

Here are some of the reasons why RBC was selected as one of Canada's Top Employers for Young People (2017):

  • Recent university and college graduates can acquire career-level experience through RBC's Career Launch Program, a 1-year paid internship for graduates under the age of 24 -- the program features 3-month rotations in retail banking branches and corporate offices, mentorship, professional networking and community experience via a short-term placement with a registered Canadian charity
  • RBC created the Next Great Social Innovator Challenge, an annual competition to enable RBC Career Launch Associates to share responses to a challenge question based on a specific business need -- finalists receive an all-expenses paid trip to Toronto to present their ideas to a panel of RBC executives
  • RBC maintains a dedicated employee resource group called "NextGen" for employees in their 20s and 30s -- the group has approximately 3,500 members and helps employees build connections across the organization
  • RBC supports the development of high potential employees through accelerated leadership development programs such as the Global Emerging Leadership program -- participants receive one-on-one mentoring from executives and rotate through various divisions such as Wealth Management, Capital Markets, Investor and Treasury Services, Personal and Commercial Banking, Technology and Operations (to name a few)
RBC employees volunteering at Ronald McDonald House in Toronto, Ontario

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,488
Student opportunities summer jobs, co-op opportunities, paid internships
Tuition subsidies (related to job) yes
Career development in-house training, online training, in-house career planning services, mentoring, leadership training, online employee skills inventory
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Unique initiatives Aboriginal Stay in School Program for students in grades 9 to 12, Capital Markets Technology new grad program, finance management development program, Canadian banking rotational program, Commercial Account Manager training program, Retail Banking Business Analyst program, Chartered Accountant training program

Recognized as one of Canada's Best Diversity Employers (2017)

Here are some of the reasons why RBC was selected as one of Canada's Best Diversity Employers (2017):

  • RBC supports the development of Aboriginal youth, offering targeted training programs such as summer internships and an Aboriginal Articling program for post-secondary students -- and manages a dedicated scholarship program for Aboriginal students, awarding over $1.6 million in scholarships since the program's inception
  • For over a decade, RBC has partnered with the Toronto Region Immigrant Employment Council to provide mentoring relationships to new Canadian job-seekers, and encourages SMEs to hire internationally-qualified interns through the RBC Career Bridge Associate Host Program -- additionally, the bank supports employees who are new Canadians and visible minorities through its MOSAIC employee resource group, with membership recently jumping to 3,500 employees (an increase of over 1,000 members in the past year)
  • RBC maintains a formal supplier diversity program to advance equality of opportunity globally to businesses owned by women, Aboriginal peoples, minorities/visible minorities, LGBT, people with disabilities and service-disabled veterans -- additionally, the bank offers Supplier Diversity Mentorship Workshops (in partnership with WEConnect) to provide opportunities to network with employees in enterprise services and Canadian banking divisions, and a reciprocal mentoring program
RBC employees celebrating at the organization's Diwali festival   (Photo credit: Marc Rochette)
"I've always been interested in the role of diversity & inclusion -- diversity is part of my world -- inside and outside of the workplace. At RBC, we're encouraged to bring our whole selves to work, and as a member of a Diversity and Inclusion committee, I have learned that we can't stop at recognizing diversity. We all need to promote an inclusive environment. When you are able to bring your whole self to work, and we create a workplace that engages in discussion and brings the conversations forward, diversity & inclusion becomes part of our routine -- not just a standalone event." Marc-André Rocher, Senior Manager of Policy and Home Equity Finance

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,488
Senior executive who oversees diversity initiatives Chief Human Resources Officer
Formal commitment maintains a diversity leadership council and produces quarterly diversity scorecards to track representation and statistics on hires, promotions and departures as well as progress against key priorities outlined in RBC's Diversity Blueprint
Employee resource groups Women in Technology and Operations, RWomen (women in Capital Markets), REACH (persons with disabilities), MOSAIC (visible minorities and new Canadians), Royal Eagles (Aboriginals), PRIDE, NextGen, i-Care (parents), RBC VETS
Diversity training and awareness training on topics such as unconscious bias, inclusive workplaces for employees with disabilities and Aboriginal awareness
Diversity highlights Diversity Dialogues (mentoring program), Pursue Your Potential (coaching for disabled and Aboriginal job-seekers), national Aboriginal group mentoring program, Women's Peer Coaching Network, Women in Leadership program, formal workplace gender transition guidelines, annual mental health wellness campaigns, Diversity and Inclusion Annual Report, significant celebrations to recognize International Women's Day, International Day of Persons with Disabilities and International Day of Pink, remote banking program for Aboriginal peoples who cannot travel easily to urban areas where branches are located
Some of the diversity-focused partnerships AbilityEdge (paid internships for new grads with disabilities), TRIEC (mentoring for new Canadians), Ascend Canada (member), Pride at Work Canada, Out on Bay Street, Miziwe Biik Aboriginal Employment and Training Centre, Canadian Aboriginal and Minority Supplier Council, Aboriginal Human Resources Council (recruitment fair), ACCES Employment (speed mentoring for new Canadians)

Recognized as one of Canada's Greenest Employers (2017)

Here are some of the reasons why RBC was selected as one of Canada's Greenest Employers (2017):

  • RBC appointed its first Environmental Risk Manager and introduced its first formal environmental policy back in 1991 (updated in 2014) -- since then, the bank has expanded and evolved its programs to address growing global environmental concerns
  • As part of its Environmental Blueprint, RBC is committed to ongoing development and expansion of waste reduction and recycling initiatives (setting a goal of zero electronic waste to the landfill by 2018), maintaining organic and recycling programs at all locations, finding ways to reuse or donate slightly used furniture (with over 1,000 tonnes of furniture diverted from the landfill since 2008), and ensuring that all paper waste (its primary waste product) is shredded and properly recycled -- the bank also reduced greenhouse gas emissions by 40 percent since 2009, with goals for an additional 20 percent reduction by 2018
  • RBC offers unique financing products including energy saver loans and mortgages to help customers create and buy energy efficient homes while saving on borrowing costs -- RBC also offers investors seven socially responsible investment (SRI) mutual fund products, with over $4 billion in assets currently
RBC employees taking part in a downtown Toronto make-over for the organization's Blue Water Project aimed to protect the globe's fresh water supply

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,488
Employee green team RBC Global Environmental Committee (est. 2008)
Senior executive who oversees initiatives RBC Director, Corporate Environmental Affairs
Formal strategy/policy name RBC Environmental Blueprint (est. 1991), formal Environmental Management System (designed to the ISO 14000 standard)
Green highlights RBC Generator Fund (a $10 million fund to help finance projects by entrepreneurs and organizations addressing social and environmental challenges), socially responsible (SRI) mutual fund products (with over $4 billion in assets under management), RBC Energy Saver loan and mortgage products (financing for home renovations incorporating energy efficiency design), the Blue Water Project (a $50 million 10-year project to support water stewardship projects in countries where the bank operates), the RBC Greening Your Business Advice Centre (provides free resources and advice to help clients build sustainable business models)
Commuter amenities car-pool sign-up program, secure/sheltered bicycle parking, walk to public transit, telecommuter workstations
In-house environmental audit yes
External environmental audit yes
Publishes sustainability report yes
Some of the green community initiatives Earth Day (hosted an environmental fair and e-waste collection event), RBC Blue Water Day (over 25,000 employees in 26 countries volunteer to create awareness, clean-up garbage and plant greenery in protection of water resources), RBC One Million Acts of Good initiative (over 10,000 employees in 29 countries supporting initiatives with a focus on employee wellness, communities and the environment), recently celebrated its 10 year partnership with Bullfrog Power, partnered with "Greening Greater Toronto" in the Race-to-Reduce program that challenges office building owners and tenants to reduce energy consumption by 10 percent over 4 years, Pembina Institute, Pollution Probe
Head office LEED Gold
Other location LEED Gold
Building footprint includes PV solar panels, rainwater collection, green roof, LED lighting upgrades, numerous green building features are located at various building locations across the bank, over 70 percent of office space is LEED certified, other building accreditation (BOMA etc.)

Image © Concordia University

The Career Directory

RBC has been selected for The Career Directory, our guide to entry-level recruitment for recent college and university graduates.
RBC employees

Highlights for New Grads

Industry Banking
Major Canadian hiring locations Toronto ON
Full-time employees in Canada 52,488
Part-time employees in Canada 5,985
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
Tuition subsidies (related to job) yes
Typical new grad positions Business Analyst, Banking Advisor, Finance Analyst, Marketing Associate, Planning Analyst, Project Manager
Starting salary $40K to $45K
Work perks health benefits for new employees, flexible work hours, telecommuting
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

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