IB RANKINGS GENERAL (not group specific) 2025
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Why is TD in the same tier as RBC & Barclays lol? And why is UBS a whole tier below TD when it should be 1-2 tiers above TD if anything?
No UBS is underperforming, this feels right
defo some TD or Cowen guy posting this. TD is tier F in this list lol
See the issue with this is that there are some wide spreads in groups at certain banks, let’s face it we’ll all know HL rx is super different from the M&A side
Just not accurate. If we're talking on average, nobody is considering JPM or MS over any of the other names on that tier (with specific groups, though, of course there are exceptions, which is why it makes no sense to not do a more group-specific list). Literally no reason they should be in the top tier and LAZ and MOE shouldn't. Personally don't know a single person who would take JPM (or even MS) over LAZ. GUGG is better than the ones on its tier as well. And who tf is taking RBC or TD over Barclays? Barclays should be 2 tiers up. And why is Allen just slapped onto the list also. It doesn't make sense to not do it group-specific when many programs place you directly into a group imo. GS TMT is not close to the same as GS RE and it shouldn't be represented that way.
Can’t tell whether OP or this comment is worse, touch grass
What did I say that's wrong?
JPM possibly, but don’t think anyone takes Laz over MS.
Idk. From my school (top target), sentiment in the top clubs at least is that LAZ>MS, but I guess could be different at other places.
Even then... not sure anyone would take LAZ over JPM.
Maybe hardos who are dead-set on PE they know they can get from LAZ and want higher junior pay, but come on.
Funny that this started out with 4 upvotes and no MS but when a few people starting MSing everyone else just followed.
MOE/LAZ = PWP? Can happen, yes, but the vast majority doesn't. No one is taking RBC/TD over Barclays, and RBC = TD isn't true also.
Had offers at all three banks in Tier B - was a fairly easy choice...
Coming from a banker is leaving for a senior corporate role very soon at one of the lower-tier BBs due to disillusionment.
Jeff/DB/UBS should likely be in the same tier at this point in terms of broader Wall Street reputation. Jefferies has been consistently improving, while UBS and DB are both widely viewed as declining franchises in the Americas. RBC is slightly below that tier—its league table rankings are strong, but its reputation hasn’t fully caught up, largely due to the perception that its deal flow relies heavily on lending relationships and aggressive coverage rather than outright advisory strength.
The idea of TD being above UBS/DB is simply not based on reality—there’s no justification for it. Having worked across full-service banks and spoken with colleagues at BBs, top boutiques, and MMs, as well as buy-side professionals from junior to senior levels, I can confidently say that this ranking misrepresents the actual standing of these firms.
Not sure where all the TD hype is coming from, but if you look at overall performance over the past 2–3 years, it’s nowhere near the tier of Barclays. RBC is the best Canadian bank in the U.S., and it’s not even close. As for Jefferies, its ranking depends on seniority—MDs there would likely rank it higher, but for anyone below MD, the pay is significantly worse than peers while hours are longer. Considering both factors, albiet perhaps with a higher view of Jefferies because I am relatively senior, Jefferies is probably best grouped with UBS/DB overall.
You haven't taken in to account that Jeff is prob the most toxic bank in the USA with shit pay as well. Their analysts have no life and all work amongst the longest hours in the street with toxic culture on top of that + shity seniors. I suppose, as a senior, that probably doesn't matter in your head, but it shapes a lot of your analyst experience. I chose DB over Jeff when I was recruiting as their exits are very similar (mostly MM/UMM for top groups), and culture + WLB is significantly better at DB than Jefferies.
I am evaluating based on reputation, not WLB balance or culture here. Also, again, I am more senior so maybe more biased towards Jefferies as it pays better for seniors, which obviously makes it more appealing from someone in my shoes if I had continued in banking. I am not saying your points are particularly wrong and are probably things juniors should be considering when evaluating an offer between the 3, but I would say it's not super relevant given the context.
The UBS apologist appears on the thread. Keep apologizing
Ah, yes the "MD" in banking who thinks TD is better than UBS. keep smoking your own cope.
Am at DB, and no way in hell we should be that low or comparable to Scotia Bank or even RBC.
See below for comments from various RBC employees + banking seniors:
https://www.wallstreetoasis.com/forum/investment-banking/rbc-vs-db
https://www.wallstreetoasis.com/forum/investment-banking/rbc-exits?page…
Am I basically defending the firm I am going to and so am biased? Yes, but DB is clearly ranked too low. DB was also above UBS in the leauge tables this year, but am aware they probably still exit slightly better so can accept being ranked the same as them.
Also looking at exits, we still have better exits than firms like TD, RBC, WF and are still above league tables over the past year or two than firms like TD, so I do not understand where all this DB hate is coming from.
Am at Scotia, and no way in hell we should be that low or comparable to DB or even RBC
Am I basically defending the firm I am going to and so am biased? Yes, but DB is clearly ranked too high. Scotia was above DB and UBS in the leauge tables this year, but I'm aware that we all probably exit the same so therefore can accept (reluctantly!) that we are being group together.
Also looking at exits (Brookfield, Aimco, etc.) we still have better exits than former investment banks like DB and UBS and are still better in the league tables than either (former) franchise, so I do not understand where all this Scotia hate is coming from
Working at WF and no reason why we should be at the level of Allen & Co and UBS and above DB. A lot of optimism at the bank and the experience is only getting better but we’re still far off unless you’re talking about some very select teams like REGAL
Besides REGAL, what would you say are other top-tier groups at WF rn?
Other solid groups are FIG, Industrials and Energy. Would say that REGAL really punches above the firms weight and would not say the same about the other groups I mentioned.
UBS, Deutsche, and Allen in B, TD and Baird in C
Gonna get massive hate, but I think its way better than the above.
No specific order for each letter, for the U.S. only.
S++ - GS, MS, Evr, PJT, CVP, Q
S+ - JPM, Moe, Laz, PWP
S - BofA, Citi, LT, Raine, Allen
A - Gugg, Barc
B - WB, HL (ignore rx), Jeff, Baird, Roth, UBS (this one will make some mad)
C/Below - Rank yourself
What the fuck is LT?
LionTree: I have heard many good things from people who have worked there, from comp to experience. Though, I recognize its not the biggest name.
LionTree
DB below Solomon really? Is RBC too below Solomon? Solomon isn't even above those firms in leauge tables let alone in prestige. Ditto for WB, Blair, and Roth (much stronger in Europe). The UBS thing is nowhere near what would make people mad, but rather all the random MM firms added. Jeff might be a shitshow culturally but end of the day; they are massively growing as a firm and winning more deals. Exits are still stronger than the top MM's and closer to UBS/DB rather than the names mentioned as equal to Jeff. Jeff should be in a tier with UBS/DB and RBC though I understand the ED above disagrees with the RBC choice still think they are roughly comparable.
Yeah, it's obviously not perfect since it's hard to categorize a whole bank without considering specific groups (DB/UBS Levfin for example). However, I'll stand for what I've listed. I've anecdotally heard abysmal things for a lot of DB groups, and have really heard good things about Solomon. Around 1.5 years ago, I used to talk to some people in the NYC office who talked very highly of their experiences (comp wise too). I'll grant things may have changed. However, I've never been met with the same enthusiasm from a DB person.
For the others, maybe from bias due to where I started, I tend to favor places closer to the independent advisory model. UBS to me, is a place as an analyst where you get low benefits of being at a balance sheet bank but still have to deal with all the bad things about being at a balance sheet bank. Also, I feel like they've really dropped the ball on the CS merger. They were basically gifted the merger by the government and let talent slip like they were picking up water with their hands. Again, please note that this is not for all groups as it is a generalization! A UBS IB offer is nothing to be sad about.
Edit: To your RBC point, I just don't know enough about them broadly to comment. I've never had an experience that made me feel strongly about them one way or the other. Same thing with TD after they acquired Cowen.
WB, HL, Baird, and Roths are not serious franchises in the US to be on something like this. Sole MM players, with HL being a pure volume shop that does like $100MM EV deals at times. WB and Baird are more respectable, IMO but still almost all MM deals and not really as highly held reputationally because of it compared to the others at the senior level, both in banking and on the buy side. Agan, great at what they do just not competitive in the larger-cap space at all. Roths is an EB in the UK, not a good franchise in the U,S point blank. Would agree with the commenter from DB that DB is above all of them and should be taken above them due to more larger-cap deals and better reputation/exits.
Edit: pasting my Roths response below since it's hidden by 1 comment filter here just for ease of access of viewing-
The UK market is significantly smaller, they have a much higher market share there, thus an EB there and not here in the States. I might've overstated how good they are in the UK given their small deal size, but clearly have a much larger market share in the UK. They aren't a player in major large-cap processes in the US. Sorry, but it's true and reflective of their reputation.
Roth UK avg deal size =~$353mm (116 deals, 85 MDs/Partners)
Roth Americas avg deal size =~$586mm (133 deals, 37 MDs/Partners)
???
Sincerely,
Roth offer holder
Congrats on RBC & TD
Congrats on scotia!
Why has WSO become a DB hate train now? Could've sworn the firms being hated were UBS and BOFA like 2 weeks ago. Also, is WSO back to loving the Canadian banks and Jefferies now?
I need the WSO updated run down: is DB joining UBS/BOFA in the every,one hates camp and are the Canadians and Jefferies back in the everyone loves camp?
Citi is trash they shouldn’t be that high. Blair and Baird underrated. Hard to compare across banks that have different strategies/specialties
Obligatory congrats on Baird
lol I don’t work there. Them and WB are very reputable in the MM space so it’s hard to compare with other banks
These type of posts are made by the same people that used to spam greekrank
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