RBC Capital Markets is known as an investment banking powerhouse in North America. Every year, RBC recruits a large number of interns for its investment banking division through its highly competitive RBC investment banking internship program. For the 2023 and 2024 RBC ib internships, the application window has already opened in 2022. Competition is fierce as RBC tends to extend 50-60% full-time offer conversion rate for interns. This article will provide insights on how to best prepare for RBC investment banking internships in 2023 and 2024.
RBC investment banking internship application timeline
According to returned RBC interns, RBC investment banking formally opens its 2023 full time analyst and 2024 summer internship application in August 2022 on its career website. The firm begins screening resumes and extending Superday interviews from October 2022. First round offers are usually released between December 2022 to February 2023. For 2024 RBC ib internship, application deadline is August 2023 and interview invitations are sent during September to November 2023. It’s crucial to understand this recruiting timeline and prepare early on.
Networking with RBC employees for referral
Referral can significantly boost one’s chance at landing RBC investment banking internship interviews. Reached out to RBC employees on Linkedin for informational interviews and discuss one’s interest in the firm’s internship program. Obtain employees’ referral when applying. This shows demonstrated interest.
Preparing for RBC’s online assessments
RBC has several stages of online assessments that test for cognitive abilities, personality traits and mindsets. Practice sample questions in categories of numerical, verbal reasoning, situational judgement tests. Understand the desired personality and mindset traits RBC looks for. Taking practice tests helps one better prepare.
Mock interviews & behavioral preparations
RBC investment banking interviews have both technical and behavioral components. Know industry trends, valuation methodologies, accounting and financial modeling. Prepare 3-5 behavioral stories with the STAR methods highlighting one’s leadership, teamwork, communication abilities aligned with RBC’s core values.
Succeeding in RBC capital markets investment banking internship recruiting requires early preparation in terms of networking, taking online assessments, mock interviewing and tailoring one’s story to the firm’s culture and values. Leverage all resources to maximize internship conversion rate.