New York City is the global center of investment banking, hosting the world’s leading bulge bracket banks and top elite boutiques.
NYC investment banks in 2025 offer top-tier deal exposure, prestige, and pay, making the city especially attractive for ambitious candidates.
Recruiting is highly competitive and moving faster, with earlier applications and a growing focus on specialized profiles.
New York City is one of the cities in the world with the largest number of investment banks. Most of the world’s biggest IB firms have their headquarters or primary offices there, including Goldman Sachs, JP Morgan, Morgan Stanley, BofA, and Citi. Besides the bulge brackets, NYC is home to other top investment banking firms that rank well in terms of best firms to work for like Centerview, Evercore, PJT Partners, and Lazard.
How do you choose the best one for you if most of them rank well in the industry? Read on to discover the criteria to use, learn more about the top five IB firms in NYC, understand why NYC is a global IB hub, and find out the key recruiting trends to watch out for.
The top five investment banking firms in New York City based on performance in IB league tables are Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America, and Citi. These are all bulge bracket firms that rank high based on total IB revenues, deal sizes, and market share in the various IB services. Below is an overview of each.
Goldman Sachs
If you want to try your luck at the toughest investment banking firm to break into, go for Goldman Sachs. The firm is best known for mergers and acquisitions advisory in high-profile deals. They were the top M&A advisor in the United States in 2025 with a revenue of about $765.4 billion and in 2024 with $529 billion. Besides the typical summer internship programs, Goldman Sachs offers other programs that can help you understand the opportunities available at the firm such as the GS Possibilities Series for first years, Virtual Insight Series for undergraduates, and Emerging Leaders Series.
Morgan Stanley was established in New York City in 1935. The firm offers services through three main business segments: Institutional Securities (investment banking and trading), Wealth Management, and Investment Management. In investment banking, Morgan Stanley’s NYC teams cover various services, including mergers and acquisitions (M&A), capital raising, restructuring, and advisory on domestic and international transactions. You can attend Morgan Stanley’s careers fairs and other events to learn more about their culture and career opportunities.
BofA Securities
Another IB firm that ranks well in DCM is Bank of America Securities. They ranked top in 2025 with a deal value of $303.89B. Bank of America Securities' New York office is headquartered at One Bryant Park, and they operate from a 58-story skyscraper known as the Bank of America Tower. This office supports global corporate and investment banking services including mergers and acquisitions, capital markets, advisory, and trading activities.
Citi
Citigroup, commonly called Citi, is one of the Big Four U.S. banks and a bulge bracket global investment bank. The firm has its primary NYC office and global headquarters at 388 Greenwich Street in Lower Manhattan. Citi also has multiple significant offices across Manhattan, including Citigroup Center and other prominent Midtown and Downtown locations. You can learn more about Citi’s culture and career opportunities through their apprenticeships for undergraduates and the Early Identification Program open to those set to graduate within two years. The program can be a good starting point for securing a summer internship the following year.
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New York City appears like the end-all be-all for investment banking and finance careers in general. Most professionals with a deep interest in the industry desire to start their careers there, even though it is one of the most expensive cities to live in. That’s mainly because New York is the world’s top finance hub, followed by Singapore and London. It has been this way for centuries, but this status was cemented by the US dollar becoming the world’s reserve currency and the city’s role in funding global recovery after World War I.
One of the main reasons NYC remains a global investment banking hub is the high concentration of financial institutions. The world’s largest investment banking firms are headquartered there, alongside many leading hedge funds, private equity firms, venture capital firms, and accounting firms. Because relationships and information flow are essential in investment banking, this concentration supports strong deal flow, networking, and collaboration.
In addition, the New York Stock Exchange and Nasdaq, the world’s largest stock exchanges by market capitalization, are headquartered in NYC. This gives banks direct access to deep and liquid capital markets for underwriting, trading, and deal execution.
Finally, NYC benefits from a strong talent concentration, attracting highly skilled professionals from around the world. Some are drawn by the city’s culture, while others seek exposure to prestigious deals. The large number of firms also creates greater career flexibility, whether to change jobs or start a venture.
Attractiveness of NYC Investment Banks as Employers in 2026
NYC investment banks remain attractive employers in 2026 mainly because of prestige and deal exposure, competitive compensation, and strong professional networks. Investment banks in NYC are known for paying well above industry averages. An investment banking analyst in New York earns an average total compensation of $162K–$237K per year. Many firms also offer generous perks such as in-office chefs, gyms, wellness programs, and Uber rides to improve overall job satisfaction.
Beyond compensation, many investment banks in NYC are associated with high status and high-profile deals. Exposure to prestigious deal flow provides challenging, career-accelerating opportunities and can open doors later on, whether transitioning into other areas of finance or into different industries. Employers widely recognize that NYC investment bankers work extremely hard, gain exceptional exposure, and operate with cutting-edge technologies and infrastructure.
Because most major investment banking and financial firms have a presence in New York, professionals benefit from strong networking opportunities that can support long-term career development. However, there are also downsides to working in NYC investment banking, particularly the demanding hours, which can limit time for networking. In addition, recruiting is extremely competitive, with some firms reporting internship acceptance rates as low as 0.8%.
Key Recruiting Trends in NYC 2026
Here are some of the notable investment banking recruiting trends in New York in 2026:
Accelerated Timelines: The timeline for internships and full-time roles continues to accelerate. Some high-pressure internship and graduate programs require applications in the fall of the previous year.
Off-cycle Recruitment: Banks are using off-cycle recruitment to bring in talent outside of the traditional recruiting cycle.
Shift Toward Specialized Hiring: Firms are moving away from generalist hiring. Instead, they’re increasingly recruiting candidates directly into specific industry coverage groups such as technology or healthcare.
Most of the other recruiting tendencies in IB remain unchanged. For instance, summer internship return offers and graduate programs are still the typical path to full-time roles in investment banking. Also, networking to build relationships and demonstrate genuine interest matters a lot as internal referrals can increase your odds of getting an interview. Coffee chats are almost expected for students before sending out applications.
Early experience is also important. Gaining a strong internship experience after the freshman year of college is critical for future success, as it is a key factor in the accelerated recruiting cycle.
Finding the Right NYC Firm for You
Even though investment banking firms in New York share many similarities, one firm may be a better fit for you than another. To find the right match, consider factors such as personal career goals, ideal firm type, firm culture, and IB groups.
Determine Your Career Goals
Start by outlining your short-term and long-term career goals to guide your decisions. Do you want to stay in investment banking long term or eventually move to private equity or hedge funds? Are you more prestige-focused, or do you prefer faster responsibility and learning?
If your goal is to exit into buy-side roles, you should prioritize firms with strong buyside placement records and relevant deal exposure. If you plan to stay in IB, promotion trajectories and cultural fit become more important.
Ideal Type of Firm
Review the different categories of investment banks in NYC to determine which best supports your goals. Bulge bracket firms typically offer strong brand prestige, high compensation, structured training, and exposure to large, high-profile deals. Elite boutiques, on the other hand, often provide smaller teams, a more personalized culture, and earlier client exposure.
You may also consider middle-market and specialized boutiques, which can offer strong responsibility and niche expertise. Firms such as Lazard and PJT Partners are well regarded for M&A and restructuring and appeal to candidates who value culture and flexibility.
Firm Culture
While investment banking is demanding across the board, firm culture varies significantly and plays a major role in long-term satisfaction. The right environment influences retention, development speed, references, and whether the job still feels right after your first year.
Use coffee chats, alumni networks, and firm events to better understand a firm’s values and day-to-day culture. Online reviews from current and former employees can also provide helpful perspectives.
IB Groups and Specialization
Investment banks organize teams by product groups such as M&A, leveraged finance, or equity capital markets, and by industry groups like healthcare, technology, or financial institutions. Choosing a firm with strength in your preferred group allows you to build deeper expertise, gain relevant deal experience, and support long-term career progression aligned with your goals.
Key Takeaways
New York City is a global investment banking hub due to its historical financial dominance, its role as the home of the world’s largest and second-largest stock exchanges, and the high concentration of major financial institutions. The leading firms in NYC are typically bulge bracket banks, which capture the largest market share across IB services and earn the highest fees. These include Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America, and Citigroup.
Finding the right investment banking firm depends on factors such as career goals, ideal firm type, firm culture, and IB group or specialization. Traditional recruitment paths like internships and graduate programs remain highly relevant in 2026. At the same time, key recruiting trends include accelerated application timelines, off-cycle hiring, and an increasing preference for specialized profiles over generalists.
Frequently Asked Questions About Investment Banks in NYC
The leading investment banks in New York City are Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America, and Citi. They dominate IB league tables due to high revenues, strong deal flow, and broad market coverage. Goldman Sachs is known for its selective recruiting and high-profile M&A advisory work. JP Morgan leads in ECM and DCM and offers several fellowship and early-career programs. Morgan Stanley provides broad exposure across M&A, capital raising, restructuring, and advisory. Bank of America Securities stands out for its strong DCM performance and its major NYC office at One Bryant Park. Citi offers extensive early-career pathways through apprenticeships and the Early Identification Program.
NYC is the world’s top finance hub due to its long financial history and the role of the US dollar as the global reserve currency. The city hosts the headquarters or major offices of the world’s largest investment banks, hedge funds, mutual funds, private equity firms, venture capital firms, and accounting firms, creating strong networks for deal flow and collaboration. With both the New York Stock Exchange and Nasdaq headquartered in the city, banks gain direct access to deep capital markets. NYC also attracts highly skilled global talent and offers exposure to the most prestigious deals, which increases career mobility and opportunities.
NYC investment banks are top employers in 2026 due to high compensation, strong prestige, and exposure to major deals. Analysts typically earn between 162K and 237K dollars annually and receive perks such as in-office chefs, gyms, wellness programs, and transportation benefits. Working on high-profile transactions helps build valuable experience and opens doors to future opportunities across finance. Networking is also easier because most major financial institutions are located in the city. Downsides include very long hours and intense hiring competition, with some internship acceptance rates as low as 0.8%.
Recruiting in 2026 is marked by accelerated timelines, with some internship and graduate applications due as early as the previous fall. Banks increasingly use off-cycle recruitment and are shifting toward specialized hiring into specific industry coverage groups instead of generalist roles. Traditional pathways such as summer internships, return offers, and graduate programs remain essential. Networking, referrals, and coffee chats continue to matter significantly, and early internship experience is critical because of the fast-paced recruiting cycle.
Choosing the right NYC firm depends on your personal career goals, ideal firm type, cultural fit, and preferred IB group. Candidates targeting private equity or hedge fund exits may prioritize firms with strong buyside placement and relevant deal exposure. Those staying in IB long-term should evaluate promotion pathways and firm culture. Bulge brackets offer prestige, structured training, and exposure to major deals. Elite boutiques and specialized boutiques, such as Lazard and PJT Partners, are known for strong M&A and restructuring work and often provide more personalized cultures and early client exposure. Understanding a firm’s culture through coffee chats, alumni events, and reviews, and selecting a strong product or industry group, helps ensure alignment with long-term goals.
