2023 OFFICIAL Europe M&A IB Firm Rankings

Please share your opinions on the current European rankings (prestige and exit opps) with tier 1, tier 2, tier 3 and tier 4. Please include as many firms as possible. This will be interesting to see which firms are best positioned as Europe enters a enters recession. Thanks! Tier 1: GS, JPM, MS, Rothschild, Lazard (and Robey Warshaw lol) . Tier 2: Barclays, BAML, DB, UBS, PWP, PJT Tier 3: CS, Evercore, Moelis, Jefferies, Greenhill, William Blair. Tier 4: BNPP, Houlihan Lokey, RBC, Piper Sandler Tier 5: HSBC, Macquarie, Cantor, RBS, SocGen,

 

Precisely.

The average MD in William Blair is making more than the average MD in Morgan Stanley, even in Europe (and an order of magnitude more than the average MD in BNP, SG). Similar with something like Macquarie in the infrastructure team. Now, I’d probably prefer to be in Morgan Stanley over the long run but that’s personal preference and these are not straightforward choices.

For career bankers, the independent firms are where you get paid the most, then the American BB, then the European BB, then the European money center banks.  
 

 

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Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Lazard Freres No 98.8%
  • Goldman Sachs 18 98.3%
  • Harris Williams & Co. New 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (20) $385
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
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