Trending Content - Investment Banking Forum
Career Resources
WSO Free Modeling Series - Now Open Through
July 31, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
Trading dwarfs the money made off those fees, this is common knowledge. Also, sounds like you have a lot to learn; you could be an investment banker and have a great year without doing a single M&A deal or IPO.
http://www2.goldmansachs.com/investor-relations/financials/current/10k/2010-10-k.pdf
You should check the income statements for publicly traded banks. They usually segment out in the footnotes. In general, trading is much more profitable for bulge bracket banks.
"Independent" advisory firms (e.g. Lazard, Evercore, Moelis) that don't have S&T arms/do limited S&T work typically rely much more on IB revenues and profits.
Et ex dignissimos aut. Et eos voluptas error autem accusamus in laborum. Tenetur cupiditate optio qui laborum quia labore et. Doloremque unde itaque quis. Animi officiis nisi vitae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...