With the rapid development of global economy and finance, top investment banks have become the first choice for many outstanding finance talents. The top investment banks not only have strong comprehensive strength and reputation, but also provide excellent work environment and development opportunities. This article will elaborate on the top investment banks that are worth joining and their work environment advantages from the perspectives of bank strength, deal opportunities, salary and welfare, and career development.
Morgan Stanley and Goldman Sachs remain top choices with excellent strength
According to the authoritative Vault Rankings in the financial industry, Morgan Stanley and Goldman Sachs have firmly remained in the top 10 most prestigious investment banks. They are the only two of the nine major investment banks that still stand in the top 10. Morgan Stanley ranks 2nd and Goldman Sachs ranks 1st. Their leading position benefits from the comprehensive business coverage, rich deal resources, and strong brand influence accumulated over the years. Morgan Stanley’s business includes investment banking, asset management, and wealth management. Goldman Sachs also has investment banking, asset management, securities services and other diversified business lines. The wide business coverage provides graduates with extensive development opportunities. In addition, they have served numerous Fortune 500 clients and participated in many high-quality projects, laying a solid foundation for future deal opportunities.
Boutique banks such as Centerview and Evercore are rising rapidly with focused advantages
In recent years, boutique investment banks such as Centerview, Evercore, and Moelis have developed rapidly and squeezed into the top rankings. Centerview has even topped the list for three consecutive years. They surpass many top players by leveraging expertise in certain niche markets. For example, Centerview and Evercore focus on M&A advisory and restructuring, while Moelis specializes in global mergers, acquisitions and restructurings. Their focused advantages enable them to undertake more high-quality projects in their advantageous sectors and build up strong reputations. Moreover, the relatively small organization and specialized model provide graduates closer access to deals and partners. The boutique banks also perform well in pay, welfare and work-life balance.
Higher pay at boutiques and strong training support at bulge brackets
According to statistics, the base salary and bonuses at boutique banks are generally higher than bulge brackets. The average base salary of boutique analysts in the US can reach $140k vs. $130k at bulge brackets. Moreover, boutiques tend to provide better bonus payments at senior levels due to the specialized business model. However, bulge bracket banks have more structured training programs for graduates. Morgan Stanley, Goldman Sachs and other nine major banks recruit batch after batch of analysts each year and provide systematic training camps. The training covers financial modeling, valuation, presentations, communication and other essential skills for investment bankers. Graduates can also get more rotation opportunities across different product groups.
Excellent opportunities provided for career development and advancement
The top investment banks offer graduates well-paved career roadmaps with abundant opportunities. Analysts usually work for 2-3 years to develop fundamental skills, then get promoted to associates to undertake more responsibilities. After 5-6 years, outstanding associates can further advance to VP level and director level. Many banks also provide rotation opportunities to explore interests. Apart from staying at banks for the long term, graduates can leverage the top banks’ brand and expertise to switch to private equity, hedge funds, corporate management or other appealing opportunities.
In conclusion, Morgan Stanley, Goldman Sachs and other bulge bracket banks still remain top choices for graduates given their prestige and training. Meanwhile, boutique banks such as Centerview and Evercore have emerged as rising stars and offer focused advantages. Graduates need to assess banks’ strengths, pay, welfare, deals, and development opportunities to identify the best fits.