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How do I land a job at RBC Capital Markets?

  • Last Updated:
  • Nov 8th, 2017 9:47 am
Newbie
Oct 31, 2017
11 posts

How do I land a job at RBC Capital Markets?

I go to Brock for a BBA. In my second year, I want to apply for summer 2018 and plan to apply next semester. My average will be about 78%, with low 80s in intro to accounting, intro to macroeconomics, intro to microeconomics and intro to managerial accounting. I also got a low 80 in corporate finance1 and managerial economics. I also am a member of the Brock investors club. I have have about a year experience of trading stocks personally and have been profitable and beat the SP500. What are my odds of getting a co-op at RBC? I also plan on getting a reference from a senior member of the finance club who has landed a position at RBC, as well as from two family friends, one who works at one of the major banks and another who was previously the CEO of a mutual fund owned by Scotia Bank.
45 replies
Deal Addict
Jan 1, 2017
1826 posts
1876 upvotes
Your odds are pretty low... your average is not good enough and your school is not one of the top schools. There’s a lot of competition for positions at the banks.
Deal Addict
Nov 22, 2009
2782 posts
664 upvotes
Toronto
ProductGuy wrote: Your odds are pretty low... your average is not good enough and your school is not one of the top schools. There’s a lot of competition for positions at the banks.
There are a lot of competition for positions at just the regular bank branches. Capital Markets is where Rotman/Schulich/Ivey graduates with high GPAs are aiming for. However, he has "two family friends, one who works at one of the major banks and another who was previously the CEO of a mutual fund owned by Scotia Bank".
Deal Addict
Oct 6, 2015
2463 posts
1401 upvotes
Anyone can beat the S&P500 by tweaking the sector concentrations for the short term, but sustainability is a big problem. You're not going to impress anyone by making that claim in an interview or even a cover letter. If anything, if you make such a claim, you open yourself up to a lot of questioning along those lines, including, but not limited to the question, "why don't you just start your own fund?".
However, he has "two family friends, one who works at one of the major banks and another who was previously the CEO of a mutual fund owned by Scotia Bank".
If those are real connections, then he should work them. To a hiring panel, stating such either reeks of being a braggart, or brings up the possibility of one being recruited away.
Sr. Member
Oct 15, 2009
955 posts
688 upvotes
Toronto
As someone who works in capital markets, your odds are almost 0. Depends on what you want to do, I guess, but if you want a front office job (equity research, investment banking, sales and trading) I would say if luck weren't a factor you'd have no chance at all. You'll likely need more help from the inside than a guy just out of school who got a job there. Sorry to be so blunt but you have an average GPA from a low tier school.

What you should really do starting yesterday is aim for the 4.0 average, top position in a top finance club, and network your ass off (which is super difficult considering the proximity of your school to the capital markets centers of the banks). You should be asking your profs to introduce to you to everyone and anyone who can help you in any way, messaging people on linkedin for coffee, going to networking events, etc. Again, outside of the luck factor, which of course may pan out for you, networking is your only chance in my opinion.
Deal Guru
User avatar
Mar 31, 2008
13011 posts
3095 upvotes
Toronto
Why RBC specifically? Biggest co-op program? As mentioned above, chances are very very low. They'll target the higher tier schools first.
Deal Fanatic
Mar 15, 2005
6024 posts
1872 upvotes
Average grades from a bottom tier school - odds aren't good unless your parents work in RBC Capital Markets..
Deal Addict
Sep 4, 2007
1693 posts
1946 upvotes
vancouver
I think your best shot is to get a better GPA and then transfer to a better undergrad program. Alternatively you can do a master's degree in finance from a better school.

Do the best you can with the co-op jobs available to you. That experience will count too.
Sr. Member
Dec 11, 2013
817 posts
911 upvotes
Toronto
stocksforlife wrote: My average will be about 78%, with low 80s in intro to accounting, intro to macroeconomics, intro to microeconomics and intro to managerial accounting.
You're predicting grades for next year, which tells me you're lower now and that average is what you're hoping to work up to.

If this is the case, you should maybe start looking at other options.
Member
Jan 10, 2017
235 posts
112 upvotes
Ignore the comments; these roles are 100% networking.

Go to conferences and meet industry leaders/influences. Grades are only one part of the equation with little weight; start your CFA level 1 'now' and have it ready to show commitment.
Sr. Member
Dec 11, 2013
817 posts
911 upvotes
Toronto
Sociology1 wrote: Ignore the comments; these roles are 100% networking.

Go to conferences and meet industry leaders/influences. Grades are only one part of the equation with little weight; start your CFA level 1 'now' and have it ready to show commitment.
I would disagree with this spirit of this post. Networking is the biggest part of all industries sure, but networking for higher-end ones start at the school you went to. Not getting into a top school says a lot about your default work ethic and ability.
Newbie
Oct 31, 2017
11 posts
Ya i hope the personal references could really break me through the rest of the pack.
Newbie
Oct 31, 2017
11 posts
Also, would you feel I have a higher chance at BMO. Both BMO and RBC are listed as companies that recruit at my school's Co-op program.
Sr. Member
Dec 11, 2013
817 posts
911 upvotes
Toronto
stocksforlife wrote: Ya i hope the personal references could really break me through the rest of the pack.
How do you plan on selling yourself to these influential people when you meet them? Don't answer that to us, just really think about it.

I would do everything possible to get those grades up, you're only second year, there's still time.
Newbie
Oct 31, 2017
11 posts
I completely agree, since posting this I have decided to focus more on my grades and developing those relationships.
Sr. Member
Dec 11, 2013
817 posts
911 upvotes
Toronto
stocksforlife wrote: I completely agree, since posting this I have decided to focus more on my grades and developing those relationships.
Perfect, best of luck to you. Your network starts where you are right now, be the student that professors would recommend on their own without being asked.
Sr. Member
Sep 28, 2013
836 posts
625 upvotes
you're not getting there from undergrad without serious contacts; even then, you'd struggle because competition breeds your skillset and Ivey hbas, for instance, have been competing with their peers for the length of the entire program. you can still try and get some sort of middle or back office analyst role and leverage that into a top MBA down the road.

also you can start by not telling anyone you network with in finance, ever, that you 'beat the S&P500 for one year'.
Deal Fanatic
Mar 15, 2005
6024 posts
1872 upvotes
stocksforlife wrote: Ya i hope the personal references could really break me through the rest of the pack.
FWIW as a hiring manager I don't really care for "references" that are essentially letters stating that someone has relatives in a higher position at my company.

Show me what you know and how well you do it, not that your daddy works in a c-suite.
Deal Addict
Nov 22, 2009
2782 posts
664 upvotes
Toronto
Ziggy007 wrote: FWIW as a hiring manager I don't really care for "references" that are essentially letters stating that someone has relatives in a higher position at my company.

Show me what you know and how well you do it, not that your daddy works in a c-suite.
I think he meant that the personal references could at least get him into the interview table.

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