Vault/Firsthand IB Prestige Rankings 2023
Vault just released their prestige rankings for 2023. What do people think?https://firsthand.co/best-companies-to-work-for/b…
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Here's the top 25 for people who don't want to take the time to look at it:
1) GS
2) MS
3) JPM
4) Evercore
5) Centerview
6) Lazard
7) Moelis
8) PJT
9) BofA
10) PWP
11) Qatalyst
12) Citi
13) Guggenheim
14) Jefferies
15) Barclays
16) Greenhill
17) Rothschild
18) Allen
19) Houlihan Lokey
20) LionTree
21) UBS
22) William Blair
23) Piper Sandler
24) Credit Suisse
25) RBC
Top 10 looks fine, but outside of that it gets a bit wonky imo. Jefferies above Barclays is a very hot take, and I know that CS is going through some rough times but for a prestige ranking, CS is definitely not below Piper Sandler.
BoA before Qatalyst. Lol ok
I dont think anyone in ib/finance really cares about this list lmao
del
Lmao, the "clueless" sophomores....as opposed to the enlightened sophomores
Some actual IB analysts/associates actually know what happened to banks like Lehman or Greenhill in the past, and understand that there is massive risk involved in joining CS. When a bank starts to sink, three things happen: clients leave (as they see the bank as unreliable and there are dozens of other capable options out there), rainmakers leave (as they too see the bank as unreliable and have options), and morale tanks. You don´t want to be in a position where your Associates/VPs are thinking of ways out, or even whether they´ll get axed next week.
Now, I am not saying that CS is an awful choice, but any sophomore who thinks that they are being smarter than their peers is ether oblivious to risk, or an outright gambler. With the influx of Saudi & co money, as well as the reputational hit, Klein´s shady shenanigans, and the opaque restructuring plan there is a good chance Credit Suisse keeps slowly falling and never quite gets its spot back.
For reference, I spoke to a CS VP around July 2021 (a few months after the Archegos scandal) and he was sure Credit Suisse would prevail and it was just the involved departments who would see any repercussions. Fast forward to today and he unfortunately was laid off and is now working at a small LMM boutique due to the current job market. Whilst I am sure he could eventually join a BB if he wants, I would advise students to try to join a bank where the chances of conversion depend (mostly) on their performance. FT/SA recruitment is going to be a pain for the coming years.
With this being said, best of luck whether you join CS or another bank.
The glorified wanna be BB Lazard at 6 ahead of PJT at 8... Yeah okay, lol
Lazard isn't an elite boutique - it's THE elite boutique. I think it has a mythology that'll never escape it: RJR Nabisco, Time Warner, etc. Calling it a BB because it's diversified isn't awfully solid ground. Same could be said of Evercore, Moelis, Rothschild, Guggenheim.