While controversies around workplace culture have been prevalent within the sector over the years, finance remains one of the most popular industries for business school students.
A total of 37% of prospective students listed financial services as their target industry in a 2023 GMAC survey, while a further 32% identified investment banking and asset management as their top choice.
So which are the best banks to work for?
Each year, careers platform Vault/Firsthand surveys thousands of employees in investment banking to compile a list of the best banks to work for. Each company is ranked overall, as well as according to multiple factors such as prestige, culture, compensation, work-life balance, and training.
Here are Vault’s top 25 banks to work for in 2024.
Best Banks To Work For: Vault Ranking
25. Houlihan Lokey
An investment bank home to more than 2,600 employees, Houlihan Lokey is an M&A specialist that works predominantly with mid-sized clients.
The Vault survey reveals company interns get strong training opportunities and experience, while full-time bankers can tailor their own paths and benefit from a flexible culture that includes an unlimited vacation policy.
Some respondents say the firm lacks diversity, though efforts have been made to recruit more women and minorities. While Vault ranked 11th among the best bank to work for in 2024, the firm is 25th in this year’s list.
24. Allen & Company LLC
Allen & Co. boasts high profile clients such as Google, Verizon, and Activision, and hosts an annual conference that’s attended by individuals such as Oprah Winfrey and Bill Gates. All of this contributes to Vault ranking the firm among the top 20 most prestigious banking firms, as well as the top 25 banks to work for overall. Interestingly, Allen & Co. maintains a low profile—it doesn’t even have a website.
23. Rothschild
A storied European bank with more than 200 years of history, Rothschild is most commonly associated with financial advisory services, however it also operates within areas such as investment and corporate banking.
In total, the firm has more than 3,600 employees across offices in multiple continents. Vault ranks Rothschild as the 16th most prestigious banking firm to work for, as well as one of the best banks to work for overall.
22. Barclays Investment Bank (Americas)
A leading Wall Street investment bank and part of the prestigious bulge bracket, Barclays serves 48 million global clients across divisions including retail banking, mergers & acquisitions (M&A), and wealth management.
A large multinational, the firm’s research team alone comprises more than 750 research analysts. Vault ranks Barclays as the 15th most prestigious banking firm and the 22nd best bank to work for.
21. Jefferies
Named among Fortune’s ‘Most Admired Companies’, Jefferies is an American multinational investment bank and financial services firm with headquarters in New York, London, and Hong Kong. The firm boasts nearly 4,000 employees.
The company is renowned as one of the most prestigious investment banks, offering above average compensation and a collegial atmosphere. ranks Jefferies as the 14th most prestigious bank, contributing to its overall ranking at 21st in this list.
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20. Citi Institutional Clients Group
Part of the financial services provider, Citigroup—one of the world’s leading financial institutions—Citi Institutional Clients Group provides financial solutions to high net worth and institutional clients. These include governments and some of the world’s most influential individuals.
As Citi’s investment banking arm, the firm is split into divisions covering capital markets, corporate and investment banking, markets and securities, private banking, and treasury and trade. Among the most well-known banks on this list, Citi ICG is the 20th best bank to work for in 2024, according to Vault.
19. Qatalyst Partners
Qatalyst Partners is a global independent investment bank working with tech companies including the likes of Google and LinkedIn to provide specialist strategic advisory and M&A services.
The boutique investment bank was founded in 2008 by three former bankers from Credit Suisse, and has since gone on to specialize in four key areas: consumer and internet, enterprise software, communications technology, and semiconductors.
In 2024, Qatalyst ranks among the top 10 most prestigious banking firms as well as the 19th best bank to work for worldwide.
18. Bank of America Corp.
Among the largest financial institutions around the world, Bank of America Corp. is also one of the most prestigious. The firm has large suite of services ranging from corporate and investment banking to asset management. In total, its client base numbers 66 million consumers and organizations across the globe.
Vault ranks Bank of America Corp as the 9th most prestigious banking firm and among the top 20 overall. Insiders laud its internship program, which provides strong practical experience and mentorship opportunities for interns. Bank of America Corp is also noted for its diversity efforts, as well as emphasis on ESG across its practices.
17. JP Morgan
JP Morgan is the investment bank of JPMorgan Chase & Co. the world’s largest bank by market capitalization.
Headquartered in New York, JP Morgan is one of Wall Street’s most prestigious investment banks. Vault ranks it the third most prestigious banking firm, while the survey identifies the bank’s strong career development opportunities through training programs, mentorships, and opportunities to move within locations and divisions.
In 2024, the Vault ranking finds JP Morgan as the 17th best bank to work for.
16. Goldman Sachs & Co.
Another US institution that’s a global leader in financial services, Vault ranks Goldman Sachs & Co. as the most prestigious bank to work for.
Goldman works with clients ranging from individuals to governments and is a leader in investment banking, securities, and investment management services. The firm has been one of the key sources of culture-related controversy in recent years.
While company prestige contributes to it being one of the top banks to work for, survey respondents highlight that Goldman offers significant training to interns and junior staff, as well as very competitive compensation packages.
Goldman has also taken great steps with DEI initiatives, with some of those surveyed naming it the most progressive bank on Wall Street.
15. DC Advisory
DC Advisory is a mid-sized global investment bank that focuses on international deals. Its headquarters are in Chicago and the firm operates out of 23 locations across the US, Europe, and Asia.
According to the survey, DC’s credentials lie in its ability to offer strong work-life balance to employees, including ‘protected Saturdays’. Insiders highlight its collaborative culture with interns and junior bankers offered extensive support, responsibility, and growth opportunities.
Vault ranks DC among the top 10 banks for women and LGBTQ+ individuals, while the firm also ranks fourth for international opportunities.
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14. Loop Capital Markets
An investment bank providing services for governmental, corporate, and institutional clients, Loop Capital Markets has 21 offices within the US, with the company headquarters based in Chicago.
Known for its strong DEI credentials and supportive culture, Vault ranks LCM as the top bank for diversity and a top three banks for women as well as working hours.
One survey respondent told Vault: “Excellent culture that supports individuals, and everyone works toward shared goals.”
13. TD Cowen
TD Cowen is a multinational investment bank headquartered in New York. The firm was known as Cowen until 2023, when it was acquired by TD Securities. With more than 1,700 employees, TD Cowen offers a suite of services including sales, trading, and equity and credit research.
According to insiders, full-time TD Cowen employees have access to a variety of wellness benefits as well as highly structured training and apprenticeship programs. The firm has a protected Saturday policy and encourages vacations.
Vault ranks TD Cowen among the top 10 banks for ESG practices, work-life balance, and for individuals who have disabilities.
The firm’s recent acquisition, however, has caused some uncertainty. One employee said: “The acquisition by TD, combined with recent RIFs and reorganization, has led to uncertainty and discomfort amongst the employee base.”
12. Solomon Partners
One of the first independent investment banks on Wall Street, Solomon Partners is active within industries including healthcare, tech, media, and retail. Well-known Solomon clients include the likes of Brooks Brothers, Under Armour, and Netflix.
Survey respondents cite the firm’s civic engagement as well as the culture of acceptance at the company. Senior staff have respect for juniors' work-life balance and the firm is increasingly moving to recruit diverse candidates. The internship program for students is often lauded as highly rewarding.
Vault ranks Solomon among the top 10 firms for work-life balance, wellness, and leadership—all of which contribute to its ranking as the 12th best bank to work for in 2024.
11. William Blair
A boutique investment bank headquartered in Chicago, William Blair provides advisory services in areas including growth and financing to clients who range from entrepreneurs to corporations. The firm has around 2,100 total employees.
According to Vault, William Blair interns gain a great deal of practical experience including working on live deals. Senior and junior bankers regularly work together with several mentorship opportunities in place.
The firm is highly encouraging of staff taking all their vacation days and also offers competitive compensation and benefits, though some employees in this year’s survey noted that bonuses were down compared with previous years.
Across the entire ranking, Vault lists William Blair as the top bank for vacation policies and among the top three for both ESG practices and internal mobility.
10. Harris Williams
Virginia-based investment bank, Harris Williams, specializes in advising clients on M&A activity. With offices located across the US as well as in London and Frankfurt, Harris Williams works on growth opportunities with a range of global clients.
According to Vault, Harris Williams interns gain early live-deal experience while the firm also has strong DEI credentials. It ranks as the second-best bank for compensation and culture, according to Vault. Harris Williams also leads the list for client interaction.
Insiders at the firm highlight the requirement for long hours, one employee told Vault: “Hours are long as a result of the nature of the work (not as a result of Harris Williams trying to extend those hours unnecessarily).”
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9. Greenhill & Co.
Founded by a former Morgan Stanley president, Greenhill & Co. is a relatively small investment bank employing around 370 people. It operates across the globe with offices ranging from Hong Kong to Stockholm and specializes in M&A and capital raising.
Vault ranks Greenhill as a top five bank for work-life balance, culture, and international opportunities. Respondents say the firm has a strong culture with little expectation to work late, during vacations, or at weekends.
A Greenhill employee told Vault: “You’re treated as a human being. No strict rules on where you work or how you get your work done. This allows you to maintain a strong quality of life.
8. Perella Weinberg
Perella Weinberg is an independent investment bank operating in areas including M&A, capital markets, and growth capital. The firm was founded in 2006 and now houses around 600 employees with headquarters in New York and other offices across the US and in Europe.
Vault ranks Perella Weinberg among the top five firms for both firm leadership and benefits. It also ranks among the best for internal mobility.
Survey respondents highlight the firm’s strong recent DEI recruitment, positive and collaborative culture, and openness to feedback and mentorship. As a relatively small bank, it’s no surprise that Perella Weinberg places a lot of focus on hiring people that fit within its culture.
7. PJT Partners
Another independent investment bank, PJT Partners has offices across the US and key European locations such as London, Paris, and Frankfurt. It has one of the best known M&A divisions on Wall Street.
Survey respondents highlight the strength of PJT’s internship program, while junior bankers also reportedly get strong development opportunities and mentorship. Though hours can be extensive, PJT prioritizes wellness and is making moves to ensure a healthy work-life balance. The firm also offers above industry-standard compensation.
As well as one of the world’s best banks to work for, PJT is among the top five banks when it comes to hiring process, according to Vault. It also places sixth for ESG practices and business outlook.
6. Morgan Stanley
A giant on Wall Street and one of the world's most respected investment banks, Morgan Stanley is ranked as the second most prestigious bank by Vault.
The firm has more than 80,000 employees working across three core divisions: wealth management, investment management, and institutional securities. With such a strong reputation, the firm regularly works on some of the largest deals in the industry.
While the sixth best bank to work for overall, Vault also ranks Morgan Stanley among the top 10 banking firms for vacation policies and internal mobility.
Insiders highlight the firm’s growing DEI movements as well as a largely positive culture with hybrid working present across several divisions. As with all of the top investment banks, hours can be long and fast-paced. The firm’s future prospects remain to be seen after Morgan Stanley announced Ted Pick as the new CEO in January 2024.
One employee taking part in the survey told Vault: “The nature of the job mandates that you’re spending around 12 hours in the office working each weekday and several hours on Sunday. However, Morgan Stanley does a good job of cultivating an understanding culture.”
5. Guggenheim Securities
Guggenheim Partners is a financial institution with more than 2,200 worldwide employees. Guggenheim Securities is the firm’s investment banking arm, which provides advisory services to a range of high-profile clients including Blackstone, Thomson Reuters, Verizon, Paramount, and IBM.
Vault ranks Guggenheim as a top three bank for hours, compensation, and business outlook – all of which contribute to its position as one of the five best banks to work for in 2024.
Survey respondents also reveal that, while work/life balance at the firm can be challenging, it offers a generous compensation and benefit scheme and the company is increasingly focused on DEI.
4. Lazard
A renowned specialist in M&A, Lazard is among the most prestigious investment banking firms. It has more than 40 offices across the globe with around 3,000 employees. The firm has two core divisions in asset management and asset advisory.
Insiders hail the Lazard internship program, which provides direct access to clients, senior bankers, and even executives. The firm offers flexibility, with Mondays and Fridays optional work from home days and staff able to spend one-month working from anywhere in the world each year. Compensation packages at Lazard are among the strongest on Wall Street, and the benefits on offer are also very competitive.
As well as ranking among the top five best banks to work for, Vault lists Lazard as the best bank for international opportunities and among the top five for vacation policies and work-life balance.
“Probably the best perk is the combination of the hybrid work schedule and the month work-from-anywhere policy. These are value adds that dramatically increase the quality of life working at Lazard,” one insider told Vault.
Best Banks To Work For | Top 3
3. Moelis & Company
Moelis & Company employs around 1,200 people with offices across the globe. The firm offers financial advisory services to a host of clients that includes governments and leading corporations.
Employees say the company offers strong career development opportunities to juniors and interns receive significant responsibility. The firm also offers above average compensation packages and a number of work-life balance and wellness initiatives.
Vault ranks Moelis & Company as the third best bank to work for overall, and the second-best company for quality of work and benefits.
2. Evercore
Evercore is an elite investment bank offering financial advisory services to a wealth of high-profile clients including the likes of AstraZeneca and Refinitiv. Core areas for the bank include M&A, public offerings, sales and trading, and financings.
Evercore has around 2,200 employees worldwide. Those who took part in the Vault survey said the firm’s internship program is among the best around, while career support including mentoring is extensive.
Vault ranks the firm top for women and LGBTQ+ individuals, as well as the leading bank for formal training.
Evercore employees typically work long hours due to the firm’s constant deal making, but the firm values vacation time and offers strong compensation packages. Some do, however, feel that the 401(k) match could be better.
One employee told Vault: ““No face time, very little weekend work (if any), and people are respectful of your time off. But when you’re not on vacation, you have to be available anytime.”
1. Centerview Partners
Centerview is the best bank to work for in 2024, according to Vault. The firm is one of the most prestigious M&A specialists around and works with many of the world’s largest companies. It houses offices in locations including New York, London, Paris, and San Francisco.
Industry insiders say Centerview interns gain a great deal of early responsibility and extensive training. There are also substantial development opportunities for juniors, who are encouraged to take on large amounts of responsibility at an early point in their careers.
The firm offers unique benefits including an in-office barista and gym, free Ubers home, free breakfast and lunch, and a range of wellness initiatives. However, Centerview bankers are required to be in the office every day.
Compensation at the firm has been top for some time, while it is increasingly focusing on DEI with recent hiring cohorts comprising around 50% women. Work-life balance can be a challenge with long hours often necessary, though employees say management values their time.
“The senior people at the firm truly care about the well-being of everyone here. Positive action is taken to make sure people have balance in their lives. The downside is the unpredictability of hours since we’re a client business, but I’m sure that’s not unique to Centerview,” an employee told Vault.
As well as being the best bank to work for in 2024, Vault ranks Centerview Partners as the best firm for quality of work and business outlook, as well as benefits.
