just out of curiosity: Who comes after GS/MS?
Is it JP Morgan? I know it's not Citi, it's not Merrill, ...
(this is in terms of ranking their IBK division)
Trending Content - Investment Banking Forum
| +90 | [2026 - October] Unbiased Prestige Rankings | 56 | 2h |
| +88 | Who is the final boss in Houston Energy? (GS, JEFF or EVR) | 20 | 1h |
| +78 | You should probably leave IB | 26 | 1d |
| +45 | Why Do We Turn Comments? | 10 | 2d |
| +43 | Tomorrow Will Be Better | 5 | 4d |
| +41 | Moelis PCA vs Lower tier BB Coverage | 30 | 1d |
| +25 | Banking (Un)fortunately Still Needs You: My Case for Bankers in the AI Era | 3 | 1d |
| +24 | How much should you ask questions / seek feedback as an intern? | 9 | 8h |
| +24 | UBS IB #24 in US M&A in 2026 | 10 | 5h |
| +23 | Lateraling as Analyst | 22 | 39m |
Career Resources
Lehman.
all you're going to get are wildly different subjective opinions. All the top 10 banks are the same, you do the same shit, they compete for the same deals and they pay the same. They all have their strengths and weaknesses, so pick the one where you like the people and the group. These "rank the bank" questions are annoying.
In terms of prestige
Tier 1
GS, MS
Tier 2
Merrill, Lehman, JPM
I would view Merrill, Lehman and JPM in the same tier (joint third).
Citi is not in this tier even though it's top 5 in many league tables, as they are seen more as a "commercialised" i-bank and this dilutes their brand prestige.
Tell that thing about Citi to GS.... That is bs. If JPM are Tier 2 then Citi is definitely up there. All the ranking are bs. At the end of the day - you can compare on the base of dealflow - then it would be GS,MS,ML,Leh,JPM,Citi and to some extent UBS - all in for the same deals.
Ass2007,
The rankings are entirely up to personal opinions.
My rationale for not ranking Citi higher IN TERMS OF BRAND PRESTIGE is because it is commonly viewed by many as a commercial i-bank. Citigroup is seen as Citibank.
I understand that in terms of deal flow, Citigroup is definitely there. But in terms of it being considered prestigious, I would beg to differ.
I reckon you are a Citi employee?
Nope...If I were I would probably rank Citi on top:). I know a lot of people there and see no obvious difference between the quality of Citi senior bankers and GS senior bankers. Citi IBD is very well respected. You cannot rank JPM and do not rank Citi if you are thinking commercial. Actually I have heard more people downplay JPM thank Citi because of the commercial side.
I am in a position to have seen hundreds of IMs from all the big banks. The quality of work at all the BB firms is very similar. In fact I would say there is zero correlation between the bank that did the IM and quality within the BB. There is a correlation between how difficult the deal is to get done and the quality of the work. Those deals that are more challenging fundamentally, usually have a lot more effort put into them. If anything I would say those top two firms that get bandied about live off thier brand name to a certain degree because the quality is sometimes lacking. Now when I say quality I am not referring to simple typos or grammar errors, but with respect to these simple errors, the only deal in the last 10 I have reviewed that had errors (plural) was from a top two firm.
Ut fuga odio enim eum. Dolores minima perspiciatis provident quis quis et. Molestiae soluta rerum unde. Aspernatur molestiae omnis magni dolorem. Et aut mollitia aliquam ut. Pariatur minima alias et nulla omnis.
Voluptatem deserunt qui natus et harum. Omnis explicabo quis earum rem eligendi sunt. Ut libero quibusdam numquam laborum consectetur dolores. Omnis aut dolores assumenda molestiae consectetur ratione. Delectus vero et dolor earum. Eum odio sit quidem dolor sequi aperiam ut.
Ipsam tempora dolor cupiditate soluta tempore provident. Vel cum quis consectetur sint officia. Et sint aliquam cupiditate quis et. Temporibus ea accusantium esse. Sed facere molestiae voluptatem qui voluptatum accusamus iure. Consequatur quaerat rerum aut est et reprehenderit recusandae.
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...