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Royal Bank of Canada
RBC employees at Water Park Place in Toronto, working on the bank's 'Career Launch' platform   (Photo credit: Tim Fraser for RBC)

Recognized as one of Canada's Top 100 Employers

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Top 100 Employers (2018) and Greater Toronto's Top Employers (2018) :

  • RBC is one of Canada's largest corporate donors, building upon a tradition of corporate philanthropy dating back to 1891 -- the bank's charitable focus includes youth, the environment, arts and culture, and the community, and has created a number of unique programs to support each area of focus, including the RBC Emerging Artists Project and the RBC Youth Mental Health Project
  • 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 membership and weight-loss programs
  • RBC invests in ongoing career development through tuition subsidies for courses related and indirectly related to an employees' current role, leadership development programs, and an annual "Career Month" to emphasize the importance of career management
RBC employees

Employer Background

Industry Banking
Established in Canada 1869
Publicly traded yes
Parent company Royal Bank of Canada
Parent company head office Toronto
Major Canadian hiring locations Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 52,519
Part-time employees in Canada 5,162
Full-time employees worldwide 69,127
Average age of employees in Canada 42.6 years
Longest serving employee 66.7 years

Physical Workplace Rating: A

Commuter amenities online car-pool sign-up, free parking, subsidized parking, secure/sheltered bicycle parking
Workplace features introduced a new workplace model in 2009, transforming much of its office workspace to reflect changing work styles (collaborative work spaces, increased access to video conferencing technology, virtual "concierge" kiosks that allow employees to book workstations and check-in), the bank occupies eight major properties in the downtown business district, the head office features a rooftop garden (used for special events), onsite doctor and nurses, telecommuter workstations, religious observance room, self-serve lunchroom, outdoor barbecue, outdoor patio, discounts at local restaurants
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 and 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 Harbourfront Park, Waterfront Trail, daycare, restaurants, shopping mall, Eaton Centre, Sony Centre, Royal Alexandra Theatre, Roy Thomson Hall, Art Gallery of Ontario, Chinatown, numerous fitness facilities nearby, PATH underground walking network, which provides all-weather access to the an incredible selection of restaurants, cafés and shops

Work Atmosphere & Communications Rating: A

Employee social committee name a number of employee-led social committees 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 socials (from golf tournaments to baby showers to summer picnics) special events to celebrate important diversity and inclusion dates such as Black History Month and International Women's Day
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 halls, employee roundtables with senior leadership, video broadcasts, RBCDisruptors speaker series which feature presentations on a range of thought provoking subjects such as artificial intelligence, self-driving cars and digital technology (series is also available online), My Bright Idea employee suggestion program

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, investment, and insurance services, low-interest mortgage rates, preferred rates on home and auto insurance, employee discounts on entertainment, travel and products through Perkopolis as well as through a corporate discount plan, Invest in Yourself financial planning initiative for employees (features online and speaker presentations)

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 71% 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)
Wellness spending account up to $720 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 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, 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)

Employee Engagement & Performance Rating: 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, long-service awards, tailored and unique rewards (i.e. travel), formal performance recognition program which includes "InstantThanks" peer-to-peer appreciation awards, quarterly and annual individual and team awards
Outside survey period outside consultant surveys are held every 12 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 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), online access to getAbstract (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), new "JobEx" website to help external job-seekers explore career options at RBC

Community Involvement Rating: 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 11,750 charitable and community organizations were supported last year
Some of the community organizations supported University of New Brunswick, Futurpreneur, Rise Asset Development National Mentorship Program at Cape Breton University, Canadian Red Cross, Immigrant Access Fund, StopGap Foundation, Winnipeg Art Gallery, Meewasin Valley Authority, United Way
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; and other charitable initiatives in the community. As part of this focus, the bank established a number of unique programs including the RBC Blue Water Project, the RBC Emerging Artists Project, the RBC Youth Mental Health Project, the RBC After School Project, the RBC Kids Pledge, the RBC Learn to Play Project, the RBC-WE Partnership, and last year's "Make 150 Count" to celebrate 150 years since confederation (thousands of young Canadians received $150 to donate to initiatives in their communities).

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

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Top Employers for Young People (2018):

  • RBC created a unique new "backpack" application for students enrolled in its internship program -- the application features personalized student profiles with information on their school, discipline of study and anticipated graduation date, gamified challenges to develop new skills through peer competition, and opportunities to sign up for career chats with executives
  • 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
Royal Bank of Canada employees meeting

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 52,519
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 various new graduate banking programs for roles such as as Commercial Account Manager and Client Service Representative, 2-year Global Emerging Leadership Program, Aboriginal Stay in School Program for students in grades 9 to 12, RBC4Students Cafe networking platform (created in partnership with Ten Thousand Coffees), "NextGen" group for employees in their 20s and 30s (3,500 members)

Recognized as one of Canada's Best Diversity Employers

Here are some of the reasons why Royal Bank of Canada was selected as one of Canada's Best Diversity Employers (2018):

  • 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
  • With support from RBC Insurance and RBC Advice Centres in Meadowvale, the bank's REACH employee resource group for individuals with disabilities hosted its fifth annual (Dis)ABILITY Learning Expo to discuss the importance of accessibility and helping employees learn how they can make a difference
  • RBC manages the Diversity Dialogues Reciprocal Mentoring Program to pair diverse employees with senior leaders who have different professional experience and backgrounds in order to promote a more inclusive culture
RBC employees marching in Vancouver's Pride Parade
"RBC went above and beyond went it came to accommodating my needs. I use a wheelchair, and RBC assisted with an accessible workstation, bathroom, and floor amenities to ensure I would be comfortable and independent. I'm also part of REACH, an employee resource group for persons with disabilities, so I'm able to use my voice to help other RBCers when it comes to disability accommodation. I am very proud to work in an inclusive and supportive environment." Joel D., Executive Communications Advisor, Office of the CEO

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON, Montréal QC, Vancouver BC
Full-time employees in Canada 52,519
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 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 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, formal supplier diversity program
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), WEConnect (supplier diversity mentorship workshops)

Recognized as one of Canada's Greenest Employers

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.)

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

Highlights for New Grads

Industry Banking
Parent company Royal Bank of Canada
Parent company head office Toronto
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, 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 benefits health benefits for new employees, flexible work hours, telecommuting, employees receive paid time off to volunteer
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

Academic fields recruited

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