[2026] [Unbiased] Investment Banking Prestige Tier-List
S++: PJT (RSSG), Q, CVP (HC)
S+: EVR (RX), GS (TMT), CVP (Rest), MS (M&A/Menlo TMT)
S: EVR (M&A), LAZ (RX/PEI), PJT (M&A), MOE (LA/RX), HL (RX), Allen, GS (FIG)
S-: GS Classics (Rest), MS (Rest), MOE (Rest), LAZ (Rest), JPM (Rest), Dyal, PWP (HC/RX)
A+: MKlein, Raine, PWP (Rest), Citi (M&A/IND), BofA (M&A/IND)
A: JEFF (HOU O&G), Barclays (PU&I/TMT), BofA (Rest), Citi (Rest)
A-: GUGG (RX), WF (REGL/IND), Barc (Rest), LionTree, TPH, Ducera (RX)
B+: JEFF (Rest), Rothschild, DB, GUGG, RBC (PU&I), FT Partners
B: DB (Rest), WF (Rest), RBC (Rest), Mizuho, BMO (M&A)
B-: TD (TMT/HC), William Blair (HC), RJ (Consumer), HL(Rest)
C+: TD (Rest), Piper Sandler CR, RJ (Rest), William Blair (Rest)
C: Harris Williams, Nomura, UBS, BMO (Rest), CIBC, Santander
C-: Cantor Fitzgerald, Stifel, Solomon Partners, Cain Brothers, Baird, BNP Paribas
D: Oppenheimer & Co, HSBC, MUFG, Lincoln International, Scotia, BGL
Accurate, get a life
congrats on WF
.
U have WF (rest) listed twice in B and A-? pls fix
Mizuho climbing a lot
Holy dyal does not belong in S-
Accurate but touch grass
del
BMO M&A? Wtf is that. At least do BMO mining as that is still holding on to the brand name despite all the folks who made it no longer being there
By TPH, do you mean the energy group of PWP based in Houston/Calgary?
Hopped on WSO for the first time in a year or 2 and I’m seeing TPH everywhere for some reason. Before now I’d seen it pop up a few times at most. It’s certainly a solid shop, but I didn’t think it was a household name outside of O&G / southern schools.
Congrats on ft partners!
Tier lists are fun, but they’re mostly a lagging indicator of alumni sentiment, not a decision tool.
Three things get consistently lost in these debates:
1) “Firm prestige” ≠ “Seat quality.”
An S-tier seat with no reps, no MD sponsorship, and no live deals will underperform an A-tier seat where you’re actually building judgment. Prestige compounds only if you’re close to decision-making.
2) RX / M&A / Coverage labels hide massive dispersion.
Two analysts at the same firm, same tier can exit to completely different places depending on:
3) Exit outcomes are driven more by how you learn than where you start.
Funds don’t hire logos; they hire people who can:
Holy ChatGPT
FT Partners is dumpster tier
Are you grouping Mizuho and Greenhill under one weighted average prestige? Mizuho is the product and coverage groups and mostly do financing while Greenhill is generalist M&A, separate recruiting processes.
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