The 2023 Industry Leaders in Investment Banking

A 8 min read

Proverb: "Those who say don't know, and those who know don't say." -- Michael Lewis

What makes a career in investment banking so appealing to MBA graduates is succinctly summarized in the above quote. Only the top 5-10% of MBA graduates, even from the best schools, ever get the chance to work in investment banking. One of the most alluring aspects of working for a Wall Street investment bank is the opportunity to travel. The beating commercial center

Best Investment Banks in 2023

Dominance, Power, and Reputation All this and more can be yours with a job in investment banking But, in 2020, which investment banks will be the best to work for? In this article, we delve deep into these questions and more.

The Abilities MBA Candidates Should Possess to Work in Investment Banking

Skills and Qualities Investment Banks look for in Candidates

Prolific, Collaborative, and Motivated ”

Managing Director and Global Head of Talent Acquisition at Goldman Sachs, Michael Desmarais, lists these as the three most important traits in a prospective MBA employee.

During the interview and hiring process, two additional qualities that are highly valued by Goldman Sachs are technical knowledge and intellectual curiosity. Candidates should be interested in finance in more than a theoretical sense. Indicative of serious and genuine interest in pursuing a career in investment banking is a command of current events and their relevance to the financial services industry.

Interactions with Clients Show Maturity and Sophistication

Helping clients with complex issues is a major part of investment banking. Therefore, candidates must be mature and sophisticated in their dealings with customers. Last but not least, successful candidates need to have strong judgment and integrity (demonstrated in both professional and personal settings).

It's beneficial to have a non-traditional educational background.

It's a common misconception that prospective MBA students need prior work experience or education in finance to be considered. Michael counters, "We have a very strong appetite for non-traditional backgrounds." True, investment banks are part of the financial services sector, but their clientele spans every conceivable sector. Consequently, workers can gain experience in many different fields.

Participation in Business School Groups and Events a Plus

Participation in organizations and clubs related to your investment banking interests is also highly valued. For e g You can gain valuable experience and skills by participating in campus finance, investment banking, and sales and trading clubs.

The 2023 Ranking Methodology for the Best Investment Banks to Work For

Best Investment Banks - Ranking Methodology

Since 2007, Vault, a leader in the collection of market intelligence data for employer ratings and reviews, has surveyed professionals working in investment banking every year. The rankings of the best investment banks to work for in 2023 are based on the results of two surveys with a combined sample size of more than 3300 respondents (up from 2800 in 2019).

Respondents rate their competitors' "Prestige" on a scale from 0 to 10 based on their opinions of how well those competitors have performed and their own experiences working with those competitors. Part two of the survey asks participants to rate their own employers across 23 dimensions of job satisfaction.

  • Compensation/Pay
  • Training
  • Culture
  • Leadership
  • Diversity
  • Harmony between work and personal life.

To determine final standings, a weighted formula is applied to each score. The relative importance of the various groups is as follows:

  • Notoriety (40%).
  • Traditions (20%)
  • Pay (ten percent)
  • Prospects in Business (10%)
  • Taking Everything Into Account, We Are Happy With (10%)
  • Life Outside of Work (5%)
  • Instructing (5%).

Similar to the 2019 and 2018 rankings, these weights are unchanged. Therefore, last year's results are directly comparable to this year's results.

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List & Analysis of the Top 20 Investment Banks to Work For in 2023

The Number One Spot Belongs to Centerview Partners.

In the world of investment banking, Goldman Sachs stands alone as the most recognizable name. However, it was surpassed by Evercore and Centerview partners this year, placing it in third place overall. Evercore earned the highest combined score and came in second. Remarkably, Centerview rose from ninth to first place in just six years.

An impressive performance, coming in first on 13 out of 14 metrics.

Centerview will be an 8 on the 2020 school grade scale. 586 on the cumulative index, a huge jump from its previous 8 3 years ago, it scored a 169. The company achieved top rankings across 13 metrics, including:

  • Suitability for Challenge
  • Potential Future Business Events
  • Exchange With Customers
  • Compensation
  • Culture
  • Leadership that is Unwavering
  • Procedures for Creating Ads
  • Maintenance of a Healthy Work-Life Balance

A significant improvement over its 2019 performance, when it only ranked first in three categories, to the point where it now ranks first in ten categories within just a single year. Centerview has dramatically raised their overall performance in all of the categories in which they are not currently ranked first. An overall score of 9 made it the highest in the category of Firm Leadership. 859 score High marks were also given for:

  • Academic Background (9) 809)
  • Culture (9 708)
  • The future of business - nine 685)
  • Spending Money (9) 676)
  • Involvement with Customers (9) 630)

Centerview's employees are highly skilled, highly compensated, actively involved in their work, and optimistic about the company's future prospects. An unbeatable pair of strengths

The top investment banks to work for in 2023 are listed below.

Firm Name The 2020 Ranking (2019 Position) Result for 2020 (2019 Result) Promotion or Demotion Score Variation The Centerview Collaborative 1 (3) 8.586 (8 286) 2 0.3 Evercore 2 (2) 8.507 (8 372) 0.135 Financial services provider Goldman, Sachs & Co. 3 (1) 8.244 (8 431) -2 -0 187 Financial services firm Morgan Stanley 4 (4) 8.098 (8 014) 0.084 Investment Bank Guggenheim 5 (8) 7.886 (7 729) 3 0.157 Banc of America Corporation 6 (9) 7.792 (7 687) 3 0.105 LLP Perella Weinberg 7 (7) 7.791 (7 802) -0 011 Lazard 7 (10) 7.791 (7 597) 3 0.194 PJT Associates 9 (21) 7.766 (2 263) 12 5.503 The Moelis & Co. 10 (6) 7.753 (7 805) -4 -0 052 GREENHILL & COMPANY 11 (5) 7.528 (7 885) -6 -0 357 We are Houlihan Lokey. 12 (11) 7.479 (7 446) -1 0.033 Blair, William 13 (12) 7.265 (7 271) -1 -0 006 The Firm of Harris Williams & Co. 14 (14) 7.055 (6 756) 0.299 Peter J Groupe Solomon 15 (13) 7.01 (6 839) -2 0.171 Corporation Cowen 16 (15) 6.53 (6 407) -1 0.123 Nomura 17 (37) 6.277 (1 65) 20 4.627 Finance Firm BMO Capital Markets 18 (32) 6.209 (1 703) 14 4.506 UBS 19 (16) 6.207 (6 284) -3 -0 077 The Capital Flow Loop 20 (17) 4.985 (5 722) -3 -0 737 J P J.P. Morgan Investment Bank 21 (18) 3.24 (3 244) -3 -0 004 A Word About Credit Suisse (Investment Bank) 22 (19) 2.47 (2 491) -3 -0 021 Investment Bank Barclays 23 (20) 2.408 (2 392) -3 0.016 Department of Institutional Clients at Citigroup 24 (22) 2.299 (2 258) -2 0.041 Bank of Rothschild & Co. 25 (24) 2.276 (2 203) -1 0.073 Company Jefferies 26 (23) 2.258 (2 204) -3 0.054 Partners Qatalyst 27 (26) 2.156 (2 098) -1 0.058 We are Allen & Company, a limited liability company. 28 (25) 2.116 (2 131) -3 -0 015 Investment Banking Division, RBC 29 (28) 1.899 (1 887) -1 0.012 Organizational Name: Macquarie 30 (30) 1.87 (1 792) 0.078 A. Piper Jaffray 31 (31) 1.844 (1 759) 0.085 Bank of Wells Fargo & Company 32 (29) 1.833 (1 87) -3 -0 037 Financial services firm Oppenheimer & Co. 33 (33) 1.686 (1 687) -0 001 LionTree Consultants 34 (40) 1.678 (1 609) 6 0.069 American BNP Paribas 35 (36) 1.667 (1 651) 1 0.016 HSBC Holdings, Inc., in the Americas 36 (38) 1.654 (1 616) 2 0.038 German Banking Conglomerate Deutsche Bank 37 (27) 1.653 (2 205) -10 -0 552 Corporation, Bank of New York Mellon 38 (39) 1.584 (1 611) 1 -0 027 Corporation Raymond James Financial 39 (43) 1.578 (1 546) 4 0.032 Tudor, Pickering, Holt, & Co. , LLC 40 (44) 1.56 (1 523) 4 0.037 Robert W The Baird Group, Inc. 41 (34) 1.557 (1 682) -7 -0 125 It's the RBS, or Royal Bank of Scotland. 42 (41) 1.557 (1 606) -1 -0 049 A.G. Cantor, P.F. & Co. 43 (42) 1.529 (1 568) -1 -0 039 Corporate & Investment Banking at Societe Generale 44 (45) 1.528 (1 51) 1 0.018 Deloitte & Touche Assurance Services LLP 45 (35) 1.525 (1 674) -10 -0 149 Investment Banking Firm Stifel Nicolaus & Co. 46 (46) 1.51 (1 493) 0.017 Services for Businesses Around the World 47 (47) 1.489 (1 491) -0 002 Investment bank Brown Brothers Harriman 48 (48) 1.425 (1 454) -0 029 Corporation of Mizuho Financial Group 49 (NR) 1.414 (NA) NA NA SunTrust is a financial institution. 50 (NR) 1.384 (NA) NA NA

When compared to other banks, Centerview has earned a great deal of prestige among its peers.

Centerview moved up to #5 with a 7 in the prestige rankings (worth 40% of the total) A 147 is better than a 4, but only just. Obtaining a year-end score of 412 The company has made great strides in gaining the respect of its banking industry peers.

The position of Centerview meteorologist has been called "the hardest job to get." It specializes in merger and acquisition advisory and restructuring, and has been involved in high-profile transactions like the sale of 21st Century Fox to Disney. It currently employs 350 people across 5 offices and has advised on transactions totaling over $3 trillion.

Every level of staff below the MD is trained to assume client-facing leadership roles in strategic planning and financial advisory. According to workers, working here is like nothing else they've ever done.

Evercore Is a Flat, Entrepreneurial Workplace Based on Merit

With more than five times as many workers as Centerview Partners, Evercore counts companies like Kraft, Dell, T-Mobile, and Whole Foods among its satisfied customers. Critics have called it a "meritocracy" that puts merit above partisanship and rewards success lavishly. They pride themselves on having a "extremely flat and entrepreneurial culture that allows direct deal and client exposure from day one," as stated by another reviewer. Since this opens up a wide window of possibility,

Goldman Sachs: A Competitive Environment Motivated by Comments

Goldman Sachs, which has been described as a "great vampire squid wrapped around the face of humanity" by Rolling Stone, rounds out the top three. Current and former US Treasury Secretaries Steve Mnuchin, Hank Paulson, and Larry Summers are among its distinguished alumni.

Goldman Sachs, at over 150 years old, is a paragon of tradition; the company rejects more applicants than Harvard University and the Navy SEALs combined. It's a place where suggestions, teamwork, and healthy rivalry are all highly valued.

In 2020, however, it ranked 13th to 15th in only six categories, and below 15th in ten, including:

  • Future Prospects in Business
  • Compensation
  • Culture
  • Resolute Direction
  • Hours
  • Training in an Unstructured Environment
  • Procedures for Creating Ads
  • Harmony between work and personal life.

In conclusion, survey participants felt they were overworked, underpaid, and unappreciated by leadership. As a result, keeping a pessimistic outlook While new CEO David Solomon is working to fix the company's structural problems, these problems may only be temporary. With an eye toward resolving critical problems associated with insufficient personnel and available labor

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What Will Be the Best Investment Banks to Work for in 2023? a Ranking and Analysis

Best Investment Banks for Prestige in 2023

According to a 2022 survey, Goldman Sachs was voted the most prestigious company to work for.

That which changes the most stays the same, as the adage goes. Indeed, 47 of last year's top 50 schools are back again this year in the prestige rankings. For the past 14 years in a row, Goldman Sachs has topped the industry, followed by Morgan Stanley, Evercore, J. P The remaining two are J.P. Morgan and Centerview Partners.

In 2023, these will be the top investment banks to work for in terms of prestige.

Firm Name Where we stand in 2020 (where we stand in 2019) 2019 Result (2020 Result) Ranking Shift Shift in Position An Introduction to Goldman, Sachs & Co. 1 (1) 8.917 (8 898) 0.019 M. S. Morgan & Co. 2 (2) 8.211 (8 166) 0.045 J P A.I.G. Morgan & Co., Investment Bank 3 (3) 8.1 (8 11) -0 01 Evercore 4 (4) 7.456 (7 115) 0.341 Partners in Centerview 5 (6) 7.147 (6 831) 1 0.316 Lazard 6 (5) 7.043 (7 035) -1 0.008 Corporation Moelis & Co. 7 (7) 6.535 (6 267) 0.268 Company, Bank of America 8 (9) 6.313 (6 214) 1 0.099 Investment Banking at Credit Suisse 9 (8) 6.176 (6 227) -1 -0 051 PJT Associates 10 (13) 6.118 (5 658) 3 0.46 Business Associates Perella Weinberg 11 (11) 6.058 (5 87) 0.188 For the Investment Bank, See Barclays. 12 (10) 6.02 (5 981) -2 0.039 Incorporated Greenhill & Co 13 (12) 5.953 (5 748) -1 0.205 Stocks Sold by Guggenheim 14 (17) 5.791 (5 506) 3 0.285 Financial Institutions Group, Citi 15 (14) 5.748 (5 645) -1 0.103 R.M. Rothschild & Co. 16 (16) 5.689 (5 507) 0.182 Jefferies & Co. 17 (15) 5.646 (5 51) -2 0.136 Corporate Finance at UBS 18 (18) 5.459 (5 49) -0 031 The Partners of Qatalyst 19 (20) 5.39 (5 246) 1 0.144 H.L. Partners, Houlihan Lokey 20 (21) 5.3 (5 073) 1 0.227 Corporation Limited Liability Company Allen & 21 (19) 5.291 (5 328) -2 -0 037 Financial Services Division, RBC 22 (23) 4.748 (4 717) 1 0.031 Macquarie Group. 23 (26) 4.674 (4 48) 3 0.194 The Firm of William Blair & Co. 24 (25) 4.645 (4 481) 1 0.164 Firms of Piper Jaffray 25 (27) 4.611 (4 398) 2 0.213 Wells Fargo (Capital Markets & Investment Banking) 26 (24) 4.583 (4 674) -2 -0 091 Markets, BMO 27 (28) 4.301 (4 258) 1 0.043 Bank of America Merrill Lynch Oppenheimer & Co. 28 (29) 4.214 (4 217) 1 -0 003 Consulting Firm LionTree 29 (37) 4.196 (4 022) 8 0.174 American BNP Paribas 30 (32) 4.168 (4 127) 2 0.041 Peter J Conglomerate of Solomon 31 (34) 4.143 (4 085) 3 0.058 Corporate Name: HSBC North America Holdings 32 (35) 4.135 (4 04) 3 0.095 Deutsch Bank AG 33 (22) 4.132 (5 063) -11 -0 931 The Cowen Group 34 (39) 4.071 (3 954) 5 0.117 Harris Williams & Co. 35 (46) 4.039 (3 684) 11 0.355 New York, New York: Bank of New York Mellon 36 (36) 3.961 (4 027) -0 066 The Company of Raymond James Financial Advisors 37 (41) 3.944 (3 866) 4 0.078 Nomura 38 (33) 3.936 (4 124) -5 -0 188 This company is called Tudor, Pickering, Holt & Co. , LLC 39 (42) 3.899 (3 808) 3 0.091 Robert W Financial services firm Baird & Co. 40 (30) 3.893 (4 206) -10 -0 313 Scottish Financial Services (RBS) 41 (38) 3.892 (4 016) -3 -0 124 C. F. Cantor & Co. 42 (40) 3.822 (3 921) -2 -0 099 Finance et Investissements de la Société Générale 43 (43) 3.821 (3 775) 0.046 A Limited Liability Company Called Deloitte for Corporate Finance 44 (31) 3.813 (4 185) -13 -0 372 A Company Called Stifel Nicolaus & Co. 45 (44) 3.775 (3 733) -1 0.042 The World's Largest Accounting and Consulting Firm EY 46 (45) 3.722 (3 728) -1 -0 006 Investment bankers Brown Brothers Harriman 47 (47) 3.563 (3 634) -0 071 Company Name: Mizuho Financial Group 48 (NR) 3.536 (NA) NA NA The SunTrust Financial System 49 (NR) 3.459 (NA) NA NA The Sandler, O'Neill, and Partners 50 (NR) 3.457 (NA) NA NA

Best Places to Work in Investment Banking in 2023 Based on Diversity Ratings

Best Investment Banks for Diversity in 2020

When it comes to diversity, Bank of America has maintained its position as the top company. Despite the fact that they lost 0 3.232 of a point Similarly, despite scoring no goals, Evercore and William Blair finished as the runners-up and third-place finishers, respectively. 117 and 0 0.30 of a point Contrary to the market, Centerview and Morgan Stanley saw no gains. The seventh and eighth place finishers must each score 15 or more.

The overall diversity rankings in the investment banking industry are as follows:

Firm Name 2020 Position (2019 Position) 2020 Result (2019 Result) Shift in Position Score Variation Company, Bank of America 1 (1) 9.049 (9 281) -0 232 Evercore 2 (2) 8.809 (8 926) -0 117 In his day, William Blair 3 (4) 8.571 (8 87) 1 -0 299 The Goldman, Sachs & Co. 4 (7) 8.258 (8 216) 3 0.042 Shepard, Weinberg, and Parella 5 (8) 8.1 (8 111) 3 -0 011 Investment Banking at Guggenheim 6 (5) 8.029 (8 581) -1 -0 552 Allianz Centerview Partners 7 (9) 7.964 (7 804) 2 0.16 Securities Firm Morgan Stanley 8 (10) 7.916 (7 767) 2 0.149 Financial Feedback Loop 9 (3) 7.913 (8 906) -6 -0 993 Company, Cowen Group, Inc. 10 (12) 7.695 (7 459) 2 0.236 Money Markets at BMO 11 (NR) 7.667 (NA) NA NA That company's name is Nomura Holdings, Inc. 12 (NR) 7.525 (NA) NA NA PJT Associates 13 (NR) 7.457 (NA) NA NA The Moelis & Co. 14 (11) 7.376 (7 65) -3 -0 274 A. Greenhill & Co. 15 (6) 7.365 (8 281) -9 -0 916

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