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Royal Bank of Canada
Employees in RBC's rotational year-long Career Launch program  

Recognized as one of Canada's Top 100 Employers (2019) and Greater Toronto's Top Employers (2019):

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Top 100 Employers (2019) and Greater Toronto's Top Employers (2019):

  • In addition to their paid vacation time, RBC offers a purchased vacation option that lets employees purchase up to 20 days of additional vacation time when needed to help balance personal and family time
  • RBC manages an in-house wellness program called "Living Well" to encourage employees to adopt healthy lifestyles, rewarding healthy behaviour with credits for a personal Wellness Account that can be used for wellness-related expenses, such as gym membership and weight-loss programs -- and the bank recently launched the "RBC Blueprint for Mental Health and Wellbeing" that sets out the bank's vision for promoting the mental health and well-being of all employees
  • RBC invests in ongoing career development through tuition subsidies for courses related and indirectly related to an employees' current role, leadership development programs, an annual "Career Month" in March to promote career development for all employees, as well as paid internship programs for the next generation of employees, from 4 months to 1 year in duration
An employee taking advantage of agile space at RBC WaterPark Place  

Employer Background

Industry Banking
Established in Canada 1869
Publicly traded yes
Major Canadian hiring locations Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 52,575
Part-time employees in Canada 4,654
Full-time employees worldwide 71,169
Average age of employees in Canada 42.1 years
Longest serving employee 67.75 years

Physical Workplace Rating: A

Commuter amenities transit subsidies, online car-pool sign-up, secure/sheltered bicycle parking
Workplace features onsite doctor and nurses, a new workplace model in 2009, transforming much of its office workspace to reflect changing work styles (collaborative workspaces, increased access to video conferencing technology, virtual "concierge" kiosks that allow employees to book workstations and check-in), the bank occupies 8 major properties in the downtown business district, the head office features a rooftop garden (used for special events) and over 70% of RBC's major offices worldwide are green certified (including LEED, BREEM and other certification programs), telecommuter workstations, religious observance room, outdoor patio, self-serve lunchroom, outdoor barbecue
Employee lounge amenities comfortable seating, television, pool table, foosball table, table tennis, each floor of the head office features an OASIS lounge with self-serve kitchens designed with reclaimed wood, multi-function quiet rooms for meditation, religious observance and nursing mothers
Onsite fitness facility shared-use facility, (onsite fitness facility at RBC WaterPark Place)
Other nearby amenities St. Lawrence Community Recreation Centre, Waterfront Trail, daycare, restaurants, shopping mall, Sony Centre, Royal Alexandra Theatre, Rogers Centre, David Pecaut Square, PATH underground walking network that provides all-weather access to an incredible variety of shops, cafés and restaurants throughout the downtown core

Work Atmosphere & Communications Rating: A

Employee social committee name a number of employee-led social committees across the bank
Recent social events rewards and recognition dinners (including an annual convention aboard a cruise ship for its top winners and their guests), 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 socials (from golf tournaments to baby showers to summer picnics) special events to celebrate important awareness days such as Black History Month and International Women's Day
Cultural aspects employee sports teams, business casual dress, music while working, concierge services available, organized social activities for retirees
Employee communications intranet site, company newsletter, traditional/email suggestion box, internal social media
Other in-house communications the online "Ask Me Anything" event (employees can ask executives questions in real-time), video communications (important topics discussed by the President and CEO and posted on the bank's intranet and social media accounts), town halls, employee roundtables with senior leadership, the "RBCDisruptors" speaker series which feature presentations on a range of thought-provoking subjects (series is also available online)

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 $3,000) for some positions
Signing bonuses available for some positions
Additional financial benefits low-interest home loans, discounts on RBC banking and investment services, as well as life & disability, home, auto and travel insurance, low-interest home loans, financial planning initiatives include tailored advice sessions, e-learning modules, and direct access to financial planners through a dedicated 1-800 number that is exclusively for employees

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
Dental coverage routine, restorative, orthodontics
Traditional coverage (e.g. prescription drugs) yes
Other health plan information 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 $730 each year
Wellness spending account up to $730 each year
Fitness club subsidy up to $140 each year
Additional health and wellness information fertility drug treatments (to a lifetime maximum of $6,000), personal wellness account which allow employees to earn credits through healthy behaviour, Living Well wellness program that provides employees with opportunities to participate in annual health risk assessments, as well as various campaigns on nutrition, physical fitness, 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
Parental top-up (fathers) up to 100% of salary for 6 weeks
Adoption top-up up to 100% of salary for 6 weeks
Additional family-friendly benefits extended parental leave to unpaid leave, academic scholarships of up to $2,500 per child
Alternative work options flexible work hours, shortened work week (fewer hours with less pay), compressed work week, telecommuting, reduced summer hours
Additional family-friendly information job-sharing, formal modified work week program, unique "undertime" program that allows employees to leave early when work volumes are lower, maternity leave information package and transitional coaching for female employees, backup childcare and eldercare services, offsite daycare subsidy ($50 per child)

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 depending on their position, some employees start with up to 5 weeks of paid vacation allowance, option to purchase additional vacation time (up to 20 days), eligibility for unpaid leaves are determined on a case-by-case basis and employees must have a minimum of 5 years of continuous service, employees may also receive 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 individual performance bonuses, on-the-spot rewards, peer-to-peer recognition awards, long-service awards, tailored and unique rewards (i.e. travel), longstanding "RBC Performance" recognition program includes a nomination process for quarterly and annual awards (individuals and teams), an instant recognition social rewards tool, and a formal process for awarding "performance points" to employees that can be redeemed for everything from gift cards and merchandise to travel (the bank also ensures ongoing awareness of its rewards and recognition programs through online promotion, as well as a travelling roadshow that promotes and demonstrates how to make the most of its programs)
Outside survey period outside consultant surveys are held every 12 months

Training & Skills Development Rating: A

Career planning 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 annual "Career Month" in March to emphasize the importance of career management, professional development library (includes virtual and classroom training options), newly upgraded in-house "Professional Development Library", online access to "SkillSoft" educational resources (includes thousands of courses, e-books, audio books, videos), online access to "GetAbstract" (offers the world's largest online library of business book summaries, as well as over 3,500 videos and TED Talks), leadership development programs (dedicated programs for senior personnel, women and visible minorities)

Community Involvement Rating: A+

Scope of charitable involvement local, national, international
Total number of charities supported last year approximately 8,700 charitable and community organizations were supported last year
Some of the community organizations supported Children's Aid Foundation, WE Charity, Boys and Girls Club of Canada, Pathways to Education Canada, Swim Drink Fish Canada, National Ballet of Canada, and dedicated in-house programs such as the RBC Youth Mental Health Project (donated over $8-million to approximately 150 community partners), the RBC Blue Water Project (donated over $50-million over the past decade for freshwater initiatives worldwide), and the RBC Emerging Artists Project (donated $5.2-million to over 170 arts organizations)
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's longstanding and continually evolving program supports a number of initiatives in the following areas: youth; environment; arts and culture; as well as other local community needs as well as diversity-related initiatives in the community. The bank encourages employees to become involved through a number of generous matching grant programs, including volunteer grants for individuals ($100 for every 8 hours, to a max of $500 for every 40 volunteer hours); RBC Day of Service Grants (2-month campaign rewards teams who support community initiatives -- over $2-million donated last year); and the Team Action Grants program (supports employees who participate in pledged fundraising events such as runs and races).

Recognized as one of Canada's Greenest Employers (2018):

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Greenest Employers (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 $4.7 billion in assets currently, and supports entrepreneurs through the $10 million RBC Generator Fund to help finance projects addressing social and environmental challenges
  • As part of its Environmental Blueprint, RBC is committed to the 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, and ensuring that all paper waste (its primary waste product) is shredded and properly recycled -- the bank has achieved an impressive waste diversion from landfill rate of 79%
Royal Bank of Canada employees participating in a shoreline clean up  

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 52,519
Employee green team RBC Global Environmental Committee (est. 2008), RBC Green Champions (est. 2016), RBC Clean Economy Working Group (est. 2016)
Senior executive who oversees initiatives RBC Director, Corporate Environmental Affairs
Formal strategy/policy name RBC Environmental Blueprint (est. 1991 and updated in 2014), 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 (over $4.7 billion in assets under management), RBC Energy Saver loan and mortgage products (financing for home renovations incorporating energy efficient 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), ongoing programs to reduce its GHG emissions from all operational areas (emissions have been reduced by 40% since 2009, with goals for an additional 20% reduction by 2018)
Extended recycling e-waste (99% of e-waste diverted with goal to send zero to landfill by 2018), carpets, furniture and demolition waste (achieved an overall waste diversion rate of 79%)
Commuter amenities online car-pool sign-up, 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 8,000 employees in 21 countries volunteer to create awareness, clean-up garbage and plant greenery in protection of water resources), longstanding partnership with Bullfrog Power, purchasing over 130,000MWh of certified green power since 2005 (enough to power 11,000 Canadian homes for 1 year), partnership with B+H Architects for the annual "Evolve Sustainable Design Competition", which challenges post-secondary students to design net-zero energy and water residential buildings, founding member of "Smart Prosperity" (initiative to build a cleaner economy for the future), major sponsorship of the 2016 Globe Business Sustainability Conference in Vancouver (over 2,000 delegates from 50 countries)
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 at various building locations across the bank, over 65% of office space is LEED certified, other building accreditation (BOMA etc.)

Recognized as one of Canada's Top Employers for Young People (2019):

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Top Employers for Young People (2019):

  • RBC created a unique Amplify program, a 4-month summer internship that allows students to work in creative, agile environments to solve business challenges -- participants pitch their final ideas to a panel of senior executives and successful ideas may lead to the launch of their initiative internally, scholarships, or seed funding for students to launch their own start up
  • 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 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 Career Launch Associates may also participate in the Next Great Social Innovator Challenge, an annual competition inviting associates to find a solution to a specific business need -- finalists receive an all-expenses paid trip to Toronto to present their ideas to a panel of RBC executives
A participant in RBC's Career Launch program with his manager  

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 52,575
Student opportunities summer jobs, co-op opportunities, paid internships
Tuition subsidies (related to job) yes
Career development in-house training, online training, 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 various new graduate banking programs for roles such as Commercial Account Manager, Retail Banking Business Analyst and Client Service Representative, Aboriginal Stay in School Program for students in grades 9 to 12, Aboriginal Student Awards program (scholarships for post-secondary students), unique "backpack" application for students enrolled in its internship program (features personalized student profiles, gamified challenges to develop new skills through peer competition, and opportunities to sign up for career chats with executives)

Recognized as one of Canada's Best Diversity Employers (2019):

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Best Diversity Employers (2019):

  • RBC recently hosted a Diversathon, leveraging hackathon methodologies to encourage diversity of thought in order to better understand the unique needs of Indigenous employees
  • The unique event resulted in two initiatives, the #iCOMMIT campaign to encourage employees to commit to participating in Indigenous cultural activities over the course of the year, and reciprocal mentoring to match Indigenous employees to other Indigenous or non-Indigenous individuals
  • For over a decade, RBC has partnered with the Toronto Region Immigrant Employment Council to provide mentoring relationships to new Canadian job-seekers, matching over 500 individuals since the partnership began
Employees at RBC celebrating at a Pride event  
"Diversity and inclusion has been and continues to be very important to me both personally and in my professional experiences.  Since participating in the Speak up for Inclusion video I have had many people reach out to me to say thank you for sharing my experiences and to thank me for being brave and speaking up.  I feel that I was able to speak up about a shared experience for many women that has deepened the conversation about gender equality, diversity and inclusion."                          Andrea M., Senior Director, Regional Banking Planning & Enablement

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 52,575
Formal diversity strategy has a defined strategy to achieve diversity and inclusion goals
Senior executive who oversees diversity initiatives Chief Human Resources Officer
Formal commitment diversity leadership council, quarterly diversity scorecard for each of RBC's business and functional units, Diversity & Inclusion Blueprint 2020
Employee resource groups Women in Technology and Operations, RWomen (women in Capital Markets), Women Advisory Board, 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, the Accessibility for Ontarians with Disabilities Act, inclusive workplaces for employees with disabilities, LGBT+ inclusion and Indigenous awareness, extensive resources available online at Destination Diversity intranet
Diversity highlights IGNITE (8-month leadership development program for high-performing, culturally diverse talent), 10-month Women in Leadership program, Aboriginal summer internship program (hired nearly 300 interns since the project's inception), Diversity Dialogues reciprocal mentoring program (4,000 participants since inception, including women and visible minorities), Pursue Your Potential (coaching for persons with disabilities and Aboriginal job-seekers), diversity scholarship managed by RBC Capital Markets (includes $5,000, a summer internship and a senior mentor)
Some of the diversity-focused partnerships AbilityEdge (paid internships for new grads with disabilities), Start Proud, EGALE Canada (LGBT), Canadian Aboriginal and Minority Supplier Council, ACCES Employment (speed mentoring for new Canadians), Catalyst Accord (signatory), Spinal Cord Injury of Ontario, March of Dime, LGBT in Capital Markets (mentoring), Stoney Nation Employment Center, Inclusion Works, Refugee Career Jump Start, Athena Leadership and N.E.E.D.S (career mentoring for newcomer youth), WEConnect (supplier diversity mentorship workshops)

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.
A participant in RBC's Career Launch program with his manager
Employees in RBC's Career Launch program enjoy a meeting outside
Participants in RBC's Career Launch program, part of a $500-million commitment to helping youth thrive in the workforce
Employees at RBC WaterPark Place
An employee taking advantage of agile space at RBC WaterPark Place

Highlights for New Grads

Industry Banking
Full-time employees in Canada 50,000+
Major Canadian hiring locations 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, 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 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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