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What is the PL 08 salary range in RBC?

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  • Jun 4th, 2019 7:57 pm
[OP]
Newbie
Jun 28, 2018
58 posts
55 upvotes

What is the PL 08 salary range in RBC?

Hey guys,

I trying to determine how much to ask, the position is PL 08, I feel like I got low balled.

Anyone help a brother please!!!!
Existence is pain.
10 replies
Deal Expert
Aug 22, 2011
35233 posts
21216 upvotes
Center of Universe
From 2017
RBC:
PL 10 $37,000 - $39,999 $40,000 - $47,999 $48,000 - $55,000
PL 09 $47,000 - $49,999 $50,000 - $60,999 $61,000 - $70,000
PL 08 $60,000 - $64,999 $65,000 - $78,999 $79,000 - $90,000
PL 07 $75,000 - $84,999 $85,000 - $99,999 $100,000 - $115,000
PL 06 $95,000 - $104,999 $105,000 - $124,999 $125,000 - $140,000

job-levels-all-banks-same-596076/6/
Deal Guru
User avatar
Jul 12, 2003
11455 posts
3719 upvotes
Toronto
So how much did they offered you?
Retired Forum Moderator February 2009 - June 2015
Deal Addict
Apr 7, 2011
1857 posts
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If you are starting with them they'll be pretty firm on staying below $75k. Anything above that is doing well.
Deal Fanatic
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Dec 8, 2007
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Sum_guy wrote: If you are starting with them they'll be pretty firm on staying below $75k. Anything above that is doing well.
Most banks will start you are the very bottom. So in this case, $60k? Just because they can and just because most people historically have been happy to just get the job. This was before unemployment was at record lows. What most organizations don’t realize, is that if employees feel like they’re being treated unfairly, especially in regards to compensation, you lose them. They detach. They may do the bare minimum to get by and smile and do all that crap, but really, there’s a seed of resentment there and you’ll never, ever, get their 100%. The relationship becomes transactional. Which is arguably worse than having them leave, because at least then you could rehire someone who was more engaged and would give it their 100%. But the real kicker is that organizations, especially large bureaucracies like banks, often have this willfully ignorant approach to compensation where they want people to really believe in the values of the .org, and work super hard above and beyond, and drink the koolaid that promotions are readily available you just have to ‘put in the time’ ... not realizing that they’re undercutting all of that by paying low in relation to others. You want an employee who will do all of that? Go above and beyond? Show them the pay range. Let them know what the average is in the department you’re joining. Give them $1,000 more. The amount of goodwill you will gain that translates into actual productivity will be well worth the $1000 spent.
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May 31, 2010
281 posts
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Markham
TodayHello wrote: Most banks will start you are the very bottom. So in this case, $60k? Just because they can and just because most people historically have been happy to just get the job. This was before unemployment was at record lows. What most organizations don’t realize, is that if employees feel like they’re being treated unfairly, especially in regards to compensation, you lose them. They detach. They may do the bare minimum to get by and smile and do all that crap, but really, there’s a seed of resentment there and you’ll never, ever, get their 100%. The relationship becomes transactional. Which is arguably worse than having them leave, because at least then you could rehire someone who was more engaged and would give it their 100%. But the real kicker is that organizations, especially large bureaucracies like banks, often have this willfully ignorant approach to compensation where they want people to really believe in the values of the .org, and work super hard above and beyond, and drink the koolaid that promotions are readily available you just have to ‘put in the time’ ... not realizing that they’re undercutting all of that by paying low in relation to others. You want an employee who will do all of that? Go above and beyond? Show them the pay range. Let them know what the average is in the department you’re joining. Give them $1,000 more. The amount of goodwill you will gain that translates into actual productivity will be well worth the $1000 spent.
But if everyone got $1000 more than average they’d all be average and dissatisfied again
Deal Addict
Nov 22, 2009
2573 posts
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Toronto
Can anyone here list the positions of the different levels?
Deal Addict
Aug 18, 2018
1786 posts
1367 upvotes
Bay Area
TodayHello wrote: Most banks will start you are the very bottom. So in this case, $60k? Just because they can and just because most people historically have been happy to just get the job. This was before unemployment was at record lows. What most organizations don’t realize, is that if employees feel like they’re being treated unfairly, especially in regards to compensation, you lose them. They detach. They may do the bare minimum to get by and smile and do all that crap, but really, there’s a seed of resentment there and you’ll never, ever, get their 100%. The relationship becomes transactional. Which is arguably worse than having them leave, because at least then you could rehire someone who was more engaged and would give it their 100%. But the real kicker is that organizations, especially large bureaucracies like banks, often have this willfully ignorant approach to compensation where they want people to really believe in the values of the .org, and work super hard above and beyond, and drink the koolaid that promotions are readily available you just have to ‘put in the time’ ... not realizing that they’re undercutting all of that by paying low in relation to others. You want an employee who will do all of that? Go above and beyond? Show them the pay range. Let them know what the average is in the department you’re joining. Give them $1,000 more. The amount of goodwill you will gain that translates into actual productivity will be well worth the $1000 spent.
(not in banking)

Ha story of my life at my previous employer. Well first year I still busted my ass to try and get a good review, and second year still tried to give it 100% to get that promotion. After promotion, instantly dialed back to 80%, took hour long lunches, spent at least 30 minutes web surfing, and just generally dicked around to kill time until it was late enough to go home. Towards the end the relationship degraded to the point where it was all about keeping up appearances. It was really dumb and pointless.

Now at my new place, they matched my old salary and threw a couple extra grand on top. Wasn't anything too spectacular since my old salary was kinda crap, but it at least they didn't intentionally low-ball. Busted my ass for two years, was just recently promoted two months ago, and they gave me a whooping 20% raise, which based on my experience, is two pay grades above what I was making at my old place. Needless to say, these days I'm busting my ass even harder, not because I have to, but because I want to. :)
Deal Addict
Apr 7, 2011
1857 posts
403 upvotes
blitzforce wrote: Can anyone here list the positions of the different levels?
PL08: Manager / Senior Analyst
PL07: Senior manager / Manager if they haven't updated the title
PL06: Director
PL05: Senior Director

Titles vary in Capital Markets, but you get the idea.
Deal Addict
Dec 20, 2018
4696 posts
3776 upvotes
Sum_guy wrote: PL08: Manager / Senior Analyst
PL07: Senior manager / Manager if they haven't updated the title
PL06: Director
PL05: Senior Director

Titles vary in Capital Markets, but you get the idea.
Are the bonuses (excluding capital markets) still around 10-15% for senior manager and above ?
Deal Addict
Apr 7, 2011
1857 posts
403 upvotes
Bonus below Director are set at a dollar amount not a percentage of salary. But on average 10-15% is a good estimate.

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