RBC Capital Markets Summer Analyst Internship
Everything you need to know about the RBC Capital Markets summer analyst program, including compensation, conversion rates, recruiting timeline, and application tips.
Last updated April 2026 · By the Superday AI editorial team
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$2,115/week
10 weeks
~75-85%
Overview
RBC Capital Markets runs a 10-week Summer Analyst Program paying $2,115 per week plus a $7,000 housing stipend, with roughly 75-85% of interns converting to full-time offers.
Key facts
- RBC's Investment Banking Summer Analyst Program runs 10 weeks from June to August.
- Interns earn $2,115 per week, about $110,000 annualized, plus a $7,000 housing stipend.
- Roughly 75-85% of RBC interns convert to full-time offers, with decisions in the final week of the internship.
- RBC provides relocation assistance up to $2,000 for domestic moves and $3,500 for international moves.
- Each intern is assigned a formal buddy and mentor, with deal teams that often span Toronto and New York.
Compensation
Interns are paid $2,115 per week, which annualizes to about $110,000, matching first-year analyst base salary. RBC adds a $7,000 housing stipend rather than providing housing directly. Relocation assistance covers up to $2,000 for domestic moves and $3,500 for international moves.
Conversion And Return Offers
Roughly 75-85% of interns convert to full-time analyst offers. Return decisions land in the final week of the internship. Interns who show analytical capability, initiative, and cultural fit tend to receive strong offers.
The Experience
Interns are placed into specific industry groups and get structured training in financial modeling, valuation, and presentation skills during the first week, then join live deal teams. The work is real: pitch books, financial analyses, and client presentations. Each intern gets a formal buddy and mentor, and class sizes are moderate enough to allow both cohort bonding and individual attention. The energy and mining groups are especially active in giving interns sector-specific work.
Cross-Border Exposure
A distinctive feature is the cross-border perspective. Deal teams often span Toronto and New York, exposing interns to Canadian market dynamics, cross-border transaction structures, and the interplay between commercial and investment banking inside a universal bank. The internship culture is collegial, with less of the competitive intensity found at some U.S. bulge bracket programs.
Internship Compensation
Weekly Pay
$2,115
Annualized Salary
$110,000
Housing Stipend
$7,000
Relocation
Up to $2,000 for domestic relocation, $3,500 for international
Meals: Seamless dinner stipend when working past 7pm
Transport: Car service after 9pm on weekdays
Recruiting Timeline
Applications Open
March-June of sophomore year
HireVue Deadline
June-August of sophomore year
First Round Interviews
June-September of sophomore year
Superdays
August-November of sophomore year
Offers Extended
September-December of sophomore year
Application Tips
- Research RBC's position as Canada's largest bank and its U.S. investment banking strategy
- Demonstrate interest in the firm's sector strengths (natural resources, energy, financial institutions)
- Prepare for questions about cross-border M&A and Canadian market dynamics
- Highlight cultural fit with collaborative, relationship-driven culture
What to Expect
RBC Capital Markets' summer program offers exposure to a full-service investment banking platform combining bulge bracket resources with a more intimate middle market culture. Interns work across M&A, capital markets, and industry coverage groups, gaining broad product exposure. The program emphasizes technical training, professional development, and cultural fit. Class sizes are moderate (40-60 interns in the U.S.), with strong emphasis on mentorship and career development. RBC's Canadian heritage creates a distinctive culture valuing collaboration, long-term thinking, and sustainable work practices. Interns typically work 70-80 hour weeks, between bulge bracket and middle market norms. The firm's global platform provides unique exposure to Canadian markets and cross-border transactions. Strong performers receive return offers with clear development paths and potential international rotation opportunities.
Intern Perks
- Global platform exposure
- Canadian market access
- Full product suite training
- Mentorship program
- Networking across global offices
- Strong culture and work-life balance
Frequently Asked Questions
How much do RBC Capital Markets summer analysts make?
RBC Capital Markets summer analysts earn $2,115 per week, which annualizes to approximately $110,000. The program typically runs for 10 weeks.
What is the RBC Capital Markets intern conversion rate?
The conversion rate for RBC Capital Markets summer analysts to full-time offers is approximately ~75-85%. Final week of internship.
When should I apply to RBC Capital Markets?
Applications for the RBC Capital Markets Investment Banking Summer Analyst Program typically open March-June of sophomore year. First round interviews are held June-September of sophomore year, with Superdays August-November of sophomore year.
More RBC Capital Markets Resources
Sources
- RBC Capital Markets - Careers. RBC Capital Markets (accessed 2026-05-14)
- Internship & Co-op Survey. National Association of Colleges and Employers (NACE) (accessed 2026-05-14)