Do you want to break into investment banking? If so, consider working for the world's biggest investment banks from the start of your career. These firms offer unmatched opportunities for ambitious professionals like you.
You'll work alongside the most talented bankers, close billion-dollar deals, and gain invaluable experience that will set you up for a successful finance career. Read on to learn more about the top investment banks globally and discover tips for finding the perfect fit for you. 🏦🎯
Investment banks act as financial intermediaries between businesses seeking capital and investors willing to provide it. But their role is multifaceted, involving various services that support the growth and development of companies and economies.
These offerings include capital raising, mergers and acquisitions, risk management, strategic advisory, and corporate finance. Getting such essential services enables businesses and governments to grow, expand, and manage their finances effectively. So, investment banks are crucial in driving economic growth and development.
If investment banks offer similar services, what makes some more prestigious than others? Below are the key factors that contribute to an IB being considered a top firm:
So, the best investment banking firms are ranked based on factors like market capitalization, deal value and market share, prestige, and client base.
The top investment banks to work for typically fall under two major categories.
Let's look at the best firms in both categories below.
Try JPMorgan Chase & Co. if you want to work for a top-tier investment bank with a significant international footprint. It has offices in over 100 countries and leads in investment banking revenue in multiple regions worldwide.
Bankers at JPMorgan Chase often have excellent exit opportunities due to the firm's prestige and global reach. They move on to prestigious private equity firms, transition to other top investment banks, or pursue opportunities in the corporate world. Arguably, it’s hard for anyone to ignore your resume with JP Morgan’s name on it.
👉 JPMorgan Chase Interview Guide
Getting a chance to work at Goldman Sachs is a coveted opportunity for aspiring bankers. The firm has a historically low acceptance rate for analyst positions which marks its desirability as an employer.
It has a significant presence in major financial centers worldwide, and typically handles complex and high-profile deals. This gives bankers great deal exposure and invaluable industry experience. In most years, Goldman Sachs comes up as a global leader in M&A banking in terms of deal volume and revenue.
👉 Goldman Sachs Interview Guide
Founded in 1935, Morgan Stanley consistently ranks as one of the world's best investment banks. Just like the other large banks, the firm operates a multifaceted business model that includes investment banking, wealth management, and investment management.
Morgan Stanley has a notable presence in high-value mergers and acquisitions (M&A) and initial public offerings (IPOs), often acting as a lead advisor on major transactions. The bank has offices in over 41 countries, including major financial hubs such as New York, London, Hong Kong, and Tokyo.
👉 Morgan Stanley Interview Guide
As a bulge bracket investment bank, BofA Securities can be a good place to start or grow your IB career. It’s particularly strong in debt and equity functions, and operates in over 35 countries.
While the bank has a strong foothold in the U.S., it also maintains a significant presence in Europe and is actively expanding in Asia. The bank's strong brand and extensive alumni network provide a significant advantage in terms of post-banking career options.
Another bulge bracket bank that ranks among the most prestigious financial institutions in the world is Citigroup. The bank is particularly recognized as the best investment bank for emerging markets, receiving awards and mentions for its performance in regions such as Central and Eastern Europe, Asia, and Africa. This makes it a top advisor for companies trying to expand in such regions.
Getting into Barclays as an investment banker is tough just like with other bulge bracket firms. But the opportunity is worth seeking because the bank gives extensive deal exposure and experience particularly in the M&A and private wealth management sections.
Barclays typically advises on numerous deals in a year, sometimes with a total worth of hundreds of billions. For instance in 2020, Barclays advised on 155 deals worth a total of $289 billion. Some of these are landmark deals including the $9.75 billion Berkshire Hathaway acquisition of Dominion Energy.
The Swiss firm, UBS, is considered a good option for securing great exit opportunities. While UBS operates globally, it maintains a strong presence in the Swiss and European markets. It often secures big ticket deals in Europe compared to other regions, and its focus areas are mainly wealth management, M&A, and ECM.
The Hong Kong and Shanghai Banking Corporation (HSBC) is a major British bank headquartered in London but with a significant global presence in more than 62 countries. It ranks as one of the largest banks in the world by total assets and M&A deal activity. So, you can't go wrong with HSBC whether you want a long term career in investment banking or great exit opportunities.
Founded in 2006, Centerview has grown to become a renowned M&A advisory globally. It works on high-profile deals with past clients including CBS and Time Warner. This makes the bank feature among the top financial advisors to merger and acquisition (M&A) transactions worldwide by deal value year after year. For instance, in 2023, Centerview ranked in the 7th position globally in M&A after advising on deals worth a total of more than $260M.
The elite bank is also known for paying analysts very competitive salaries and bonuses, sometimes higher than what peers in the industry get. This increases Centerview’s analyst retention rate compared to other firms and makes it ideal for a long-term career in investment banking.
Evercore emerges as one of the fastest growing elite boutique investment banks globally. The firm has advised on over $4.7T since inception in 1995 and consistently ranks among the bulge bracket firms when ranked by M&A deal value. In 2023, Evercore came in the 6th position with an M&A total deal value of over $282M.
The firm is among the few independent advisors that has a good total M&A market share and consistently advises on large-cap transactions. Some of the past clients include BlackRock, U.S. Steel, and IBM.
Scoring an M&A/Restructuring internship in Lazard almost guarantees a job after university. More than 90% of their summer analysts receive offers for entry-level analyst positions. This makes it a good choice if you want a long-term career in investment banking in a top boutique firm.
However, the acceptance rate for the summer analysts is less than 1% every year as they seek to recruit the top talent. Some of the deals the company has worked on include Intel's $30 billion partnership with Brookfield and Rolls-Royce's sale to Bain Capital.
While the firm has mixed reviews in terms of work hours and overall satisfaction, Moelis is widely considered as one of the most prestigious investment banking firms. The founder, Ken Moelis, is a former UBS investment bank president.
The firm has advised on over $4 trillion in transactions since its founding. And it ranks among the leading global M&A leaders in deal value.
Another top boutique firm co-founded by a former senior leader at a bulge bracket bank is Perella Weinberg. Peter Weinberg, the co-founder, worked at a senior position at Goldman Sachs before establishing the firm in 2006.
Perella Weinberg has worked its way to become a top prestigious independent investment banking firm. They work on high-profile deals with clients like T-Mobile and PayPal, and has about 12 offices globally.
PJT Partners, headquartered in New York, is a leading global advisory-focused elite boutique investment bank. While the firm offers services across various IB functions, including strategic advisory, capital markets, shareholder advisory, and capital raising, its restructuring group is the most notable.
This group leads PJT to notable awards and mentions, including the restructuring advisor of the year award in 2022. The bank also has a great deal flow in that area which allows the bank to compensate analysts competitively.
Analysts at PJT Partners also get excellent exit opportunities, although they aim to work with bankers who will stay as much as possible. Its global presence is felt in the US, Hong Kong, the UK, Spain and Germany.
With more than 40 offices globally, Jefferies is known as one of the most prestigious investment banks. It offers wealth and asset management, advisory, trading, and research services. Bankers at Jefferies often enjoy above average total compensation, although there are some complaints about the work culture.
While the top global banks offer similar services, their performance and market share varies by region. Some regional banks that don't feature in global lists often take up some market share and dominate the industry in certain areas. So, it's a good idea to explore the top investment banking firms by region or country:
🔎 Top Investment Banks in the USA
🔎 Top Investment Banks in the UK
🔎 Top Investment Banks in Germany
Now that you know the top global investment banking firms, how do you identify the right one for your career in IB? Here are some expert tips to guide you.
The top investment banking firms in the world include bulge bracket firms like JP Morgan Chase, Goldman Sachs, Morgan Stanley, BofA Securities, UBS, Barclays, HSBC, and Citigroup. Elite boutiques or independent advisors like Centerview Partners, Evercore, Moelis, Perella Weinberg, and Jefferies also rank well globally. These prestigious firms have great deal flow, high market capitalization, and a decent global presence.
To break into one of the top firms in investment banking, it is crucial to prepare thoroughly for the application process—ranging from your CV and cover letter to technical questions and personal fit. PrepLounge offers best-practice resources that cover all the information and tools you need. Start today to prepare for a successful future as an investment banker! 🚀✨
