Sep 3 2015, 03:00 AM
QUOTE(adio @ Oct 4 2014, 02:07 AM)
I agree and disagree with some of the posts here.
I've been with RBC for 1 1/2 years now, a lot of my close friends have been here for almost 5 years, all from different departments. So they were the ones who told me stories of RBC from the beginning till now.
1. RBC USED to offer high salary, this was when they were still developing; normal for new establishments to build up their company. Now fresh grads are offered around RM2600-2800 basic, allowances up to RM750 depending on shift. Still considered OK for fresh grads.
2. Agreed the turnover is high. The trend now is higher for employees who has been here for <1 year. I knew a person who's been here for 1 month and resigned
. Some say younger generations hard to cope with the business, some say other issues. But it all depends on the person, if you like challenges and work smart, this is the place for you. Do not expect to be spoon-fed here 
3. Fund Administration/Accounting is torturing. I pity my friends who are fund accountants. They work long hours, tight datelines, sometimes no time for lunch/dinner, heavy workload, etc2. But this depends on which Fund Accounting you are in, some are OK, some are hell. The tough ones are usually the Luxembourg teams. My girlfriend is also a fund accountant, she lost 8kg in her first 5 months. Then she moved to a more stable team, and is much happier there. A wise colleague told me once, "If you want to work in RBC and still have a life, don't be a fund accountant"
. Fund accounting turnover is waaayy higher compared to other departments.
4. Career progression totally depends on the person. There are managers here as young as 25-27 years old. Some have been working here for 4-5 years and are still in the same position. I've been here for 1 1/2 years and recently promoted to a senior position. If you do your job properly and excel, its not impossible to be promoted within a year.
5. RBC is still new here in Malaysia compared to other big banks and MNCs. So its totally normal for the company to have a few hiccups here and there. There are times I feel like leaving the company, but there are more times I feel happy and satisfied. If you are a fresh grad, RBC is a good place to start up and build up your resume.
Think twice if you want to join RBC as fund accountant. To be honest, no matter what FA team you join, it will be suffer also. The job nature is mend to be suffered. Among so many region, Lux is the worst team. IF you think you are a warrior, u can go for it but i can assure you no work life balance thoroughly. Please don't expect you can have a dinner when you feel hungry. At here, fund delivery is the priority of all thing. Top management just simply dont care whether you eat or not. Why i say that the FA job scope is mend to be suffered? It is becoz throughout the whole Nav calculation process, we are the last resort to take care of accuracy and timeliness of the NAV on daily basis. We are dealing with tonnes of different party everyday. Imagine that one of the party has issue on their side and it can affect your work progression for whole day depends on how big the issue is. Furthermore, when the other department has done mistake, we are the one who is being blamed becoz they are expecting us to detect the error before the NAV publish. And all of this will record in the year end assessment which affect your bonus. Thus, your boss can simply tell you that you make error so less bonus for you this year or no bonus at all this year. What do you think if something like this happen? Do you think it is fair ? things we sacrifice is no fixed dinner break, no Malaysia holiday, very rush working environment, late night work...but after all, the main thing is our sacrifice never get appreciate by management. Low increment or no increment at all, extremely low bonus, etc...those management ppl lack of people management skill, they just care about their own works and dont know the condition of the team, and always assume the team are doing fine..that is the reason why many ppl tender because they feel dissatisfied. Most of the ppl here are always looking for backup plan (jobstreet) because they cannot stand with the management already. The managers just have few years working experience but consider long in this company already. Seriously they dont really have that experience to manage ppl therefore so many ppl tender (almost one week one person tender). And because of that, now the company has very less senior which is really really dangerous (this work needs high knowledge and experience). You might perceive that as a chance to promote but as i know the increment for promoting to another level is just rm200 and your workload increase a lot. you must think that i am kidding you but i am serious (they are cutting cost now because they think our pay is too high). In conclusion, i can said that very poor treatment to employees, not worth to fight for. You should put this company as your last choice.I've been with RBC for 1 1/2 years now, a lot of my close friends have been here for almost 5 years, all from different departments. So they were the ones who told me stories of RBC from the beginning till now.
1. RBC USED to offer high salary, this was when they were still developing; normal for new establishments to build up their company. Now fresh grads are offered around RM2600-2800 basic, allowances up to RM750 depending on shift. Still considered OK for fresh grads.
2. Agreed the turnover is high. The trend now is higher for employees who has been here for <1 year. I knew a person who's been here for 1 month and resigned
. Some say younger generations hard to cope with the business, some say other issues. But it all depends on the person, if you like challenges and work smart, this is the place for you. Do not expect to be spoon-fed here 3. Fund Administration/Accounting is torturing. I pity my friends who are fund accountants. They work long hours, tight datelines, sometimes no time for lunch/dinner, heavy workload, etc2. But this depends on which Fund Accounting you are in, some are OK, some are hell. The tough ones are usually the Luxembourg teams. My girlfriend is also a fund accountant, she lost 8kg in her first 5 months. Then she moved to a more stable team, and is much happier there. A wise colleague told me once, "If you want to work in RBC and still have a life, don't be a fund accountant"
. Fund accounting turnover is waaayy higher compared to other departments. 4. Career progression totally depends on the person. There are managers here as young as 25-27 years old. Some have been working here for 4-5 years and are still in the same position. I've been here for 1 1/2 years and recently promoted to a senior position. If you do your job properly and excel, its not impossible to be promoted within a year.
5. RBC is still new here in Malaysia compared to other big banks and MNCs. So its totally normal for the company to have a few hiccups here and there. There are times I feel like leaving the company, but there are more times I feel happy and satisfied. If you are a fresh grad, RBC is a good place to start up and build up your resume.
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