Pay is great, benefits are great, hiring practices... not so much
Pros: Good bonus structure, excellent stability, excellent opportunity for advancement both within Canada and abroad, workload can be as light as you want to make it be
Cons: HIGHLY politicized environment, poor continuity of compensation across business units, a staggering number of staff who consider a 4 hour lunch break at the bar a normal work day
Having worked at a number of places in my professional career has shown me that generally a few great people carry the burden, while a much larger group show up each day with the intent to do the minimum amount possible. In no place is this more true than RBC. They have a solid corporate culture, some excellent brilliant people and leadership, and unfortunately a massive headcount of deadwood besides.
They could easily run RBC with ~35,000 good employees, however, they have almost 90,000 and a 'no fire' disposition. So while they are a great company to work for, with lots of stability and great compensation, if you happen to be one of the 'good' ones -- you will do so while being constantly reminded that you could do 1/10 of the work you are doing and yet receive the same rewards.
Overall, it is a great place to work, but like any large organization, politics is 80% of the job and there is a lot of weak links in the chain to contend with.