RBC Capital Markets Summer Analyst Internship

RBC Capital Markets runs a 10-week Investment Banking Summer Analyst Program from June to August, paying $2,115 per week (about $110,000 annualized) plus a $7,000 housing stipend, with roughly 75-85% of interns converting to full-time offers. Interns are placed into specific industry groups and receive structured training in financial modeling, valuation, and presentation skills during the first week, followed by integration into live deal teams. The program provides genuine deal exposure, with interns contributing to pitch books, financial analyses, and client presentations. Class sizes are moderate, allowing for both cohort bonding and individual attention from mentors. RBC assigns each intern a formal buddy and mentor, and the firm takes the mentorship commitment seriously. A distinctive feature of the RBC program is the cross-border perspective interns gain: deal teams often span Toronto and New York, providing exposure to Canadian market dynamics, cross-border transaction structures, and the interplay between commercial banking and investment banking within a universal bank. The culture during the internship is notably collegial, with less of the competitive intensity that characterizes some U.S. bulge bracket programs. Interns who demonstrate analytical capability, initiative, and cultural fit tend to receive strong offers. The energy and mining groups are particularly active in providing intern exposure to sector-specific work.