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Investment Banking Summer Analyst Program

RBC Capital Markets Summer Analyst Internship

Everything you need to know about the RBC summer analyst program, including compensation, conversion rates, recruiting timeline, and application tips.

Weekly Pay

$2,115/week

Duration

10 weeks

Conversion Rate

~75-85%

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

1

Applications Open

August-September (year before)

2

HireVue Deadline

October

3

First Round Interviews

September-November

4

Superdays

October-December

5

Offers Extended

November-January

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 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 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 August-September (year before). First round interviews are held September-November, with Superdays October-December.

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