*Official* UK Investment Bank rankings 2024
With application season quickly approaching, it’s important to remind you all where is worth applying to, and where isn’t. MS = you are salty that your bank is < tier 3c Tier 1a: GS > MS > CVP Tier 1b: JPM > PJT > Q
Tier 2a: Evercore Tier 2b: BofA > Jefferies Tier 2c: Lazard > Moelis
Tier 3a: Citi > UBS Tier 3b: Barclays > BNP Tier 3c: Deutsche Bank > Nomura
Tier 4a: Guggenheim > Greenhill Tier 4b: HL > Macquarie > Arma Tier 4c: Harris Williams > RJ > Blair Tier 4d: Baird > Torch
Tier 5: Gleacher > Investec Tier 5b: Peel Hunt > DC Advisory
Tier 6a: BNY Mellon > Natixis > RBC > Standard Chartered Tier 6b: Mizuho > Soc Gen
Tier kys: Lloyds, HSBC, Natwest, Santander, Credit Agricole
I am genuinely interested in why people believe MS is a tier above JPM?
This past year I have seen 3-4 people I know of that have taken offers at MS over JPM London when they had both offers in hand.
Conversion rates/Future Generations Scholarship
Pipe down, prospect
Congrats on PJT!
OP is intern at a BB this summer. Something leads me to believe he is at BoFA or MS
This is somewhat pointless as it depends on groups at these firms.
Also incredibly inaccurate, especially if it refers to just UK and not Europe.
PJT is not a tier 1 outfit in the UK or Europe. I can't see Rothschild on here at all?
Moelis is better than Lazard in UK but weaker across Europe as a whole. Evercore isn't as strong as the other EBs in UK.
Barclays not a Tier 3.
These threads are always totally pointless. People know where to apply and what's a good brand and in this market getting any ib seat is a good start in your career.
1. Idea behind this is taking a median group at the firm
2. Good catch on Roths, I place it backend of 2c
I was going to comment on this thread but Lockwood's take is exactly right (I get that this thread is more a bit of fun, but readers shouldn't overthink it, especially around specific groups at banks, and that just trying to get in any IB should be the #1 priority so apply broadly).
Only thing I'd add for readers is not to get salty on these rankings, and remember that everyone's starting point in life is different. If your parents are shelf-stackers at Morrison's you have a different path in life than the university applicant whose Dad is an MD, and landing a spot at a "Tier 4" might be as much an achievement for the former as a spot at a "Tier 1" is for the latter.
And when it comes to the thick of it, you'll take what you can get ;)
100% - also there seems to be a lot of mobility between banks and tiers in the UK. You can start at a LMM / Big 4 team and find a spot in MM bank or even an outfit like Roths. Many Analyst / Associate lateral hirings want candidates with an ACA background so they invariably are open to Big 4 switchers too. This list should really be the European IB rankings...given the size of the UK IB market is so small, it would hard to imagine that any of these names generate meaningful revenues from the UK market alone except Gleacher, Roths (+ Leeds and Birmingham offices) and HSBC / Barclays / JP Morgan Cazenove because of their broking relationships and legacy UK businesses.
Peel Hunt and DC Advisory are completely different business models - former is largely a Equities / Corporate Broking heavy platform compared to DC which is more MM sellside M&A.
But as people said on here earlier, you'd still be fortunate to secure a seat at any of these names and can always move around after a couple of years of experience.
If it was UK specific Barclays would be much higher. Need to look at EMEA for an accurate picture given that almost all sector teams are based in London
Evercore not strong as other EB’s in the UK? Are you having a laugh? Just look at last years M&A tables, they beat Lazard and are only second to Roths due to their volume size. And their exits are par to none
Not to mention they are currently one of the only EBs in the top 10 for H2 EMEA deal value along with Lazard and Rothschild, while being a smaller size than all EBs except Q, CVP and PJT…
I hate these tier lists but Barclays seems pretty accurate. Tier 4 would be overly penalised I’d say?
Congrats on Jefferies
If you are a current summer analyst at an IB and they give you a return offer, how long, on average, do you have to accept it? Also, would there be implications if you accepted the offer but continued to recruit and potentially went back on your acceptance if you got something else?
Typically they expect you to sign it within a week or so. Officially I think you can be sued for reneging on an offer and going to another bank after signing, but in reality this happens all the time in this industry and they won't do anything apart from send you a disappointed email...
SocGen pays above street tho
Let's hear some numbers. Base / bonus in UK for An and Aso?
Lloyds doesn’t even do investment banking? Jefferies > EBs in the UK is just crazy. The entire list would make it to my KYS tier of lists
Lloyds does capital markets. Jefferies EVR, CVP, Q, PJT.
Jefferies > Laz and Roths is fair in the UK
Congrats on cvp first round
Idiotic American teenagers making dumb lists ever so often.. if you survive long enough to make a VP at Tier 4 on this list thank your fortunes
Congrats on VP at a tier 4 bank
At this point I would put DB in tier 1A just for the new office alone.
Possimus et ut aut natus. Unde possimus repellendus voluptates. Vel esse architecto repellat voluptatem ut. Aliquam deserunt magnam et nihil iure.
Fugit ipsam veniam quibusdam repudiandae. Omnis cumque molestiae autem qui porro commodi. Recusandae perspiciatis dolorem quaerat aperiam. Eius saepe molestiae neque officia exercitationem esse velit.
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...
Ut alias nisi sunt omnis omnis. Explicabo odit ut quam repellat. Temporibus sunt beatae esse consequatur doloremque.
Est itaque aut cumque aut sequi quas. Omnis pariatur praesentium modi provident quia ad. Mollitia omnis rerum velit repellat quia iure rem quod. Aut cumque id blanditiis magnam odio reprehenderit tempore magni. Ea nulla nisi iure accusantium tempore expedita.
Voluptate voluptate quo hic quaerat totam asperiores hic. Sunt quibusdam quo repudiandae earum repellendus. Aut ut fuga magnam.
Corrupti voluptates labore exercitationem omnis eos commodi et. Dolorum sit inventore necessitatibus et aut. Praesentium iusto quo sit vel est qui accusantium.