2021 INVESTMENT BANKING PRESTIGE RANKINGS - OFFICIAL

It's about that time of the year to get the rankings going. Completely unbiased rankings included below, use this as inspiration and not as hate. 

1.a. Goldman Sachs, Morgan Stanley, Evercore, Centerview, Moelis

1.b. JPM, Citi, BAML, Lazard, PJT

------------------------ PE MEGAFUND CUTOFF, Women Dream of Knowing You------------------------ 

2.a. Credit Suisse, Barclays, Guggenheim, Rothschild, PWP, Greenhill

2.b. RBC, Deutsche, UBS, Jefferies, William Blair

3.a. Wells Fargo, Macquarie, BMO, Mizuho, Houlihan, Harris Williams, Baird

------------------------ MM PE CUTOFF, Don't Even think about exit opps below here, Within Reach of Women, but gotta work for it------------------

3.b. US Bank, Nomura, BNP, Sagent, Marathon

------------------------ You're better off in your mom's basement, Women Forgot you exist------------------------

4.a. Big 4 corp fin, Truist, Stifel, Lincoln International

If you have an issue, feel free to dispute.

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Comments (33)

Most Helpful
  • Prospect in IB - Ind
Mar 28, 2021 - 4:01pm

Barclays is better than Citi and even with BAML. May be lower on league tables... but that's the way it is in reality. There's a reason why Citi feels the need to recruit 6+ months ahead of the rest of the BB's.

  • Intern in IB - Gen
Mar 28, 2021 - 6:27pm

Literally no one on WS thinks Barc is better than Citi. Citi does like 2x the M&A. Tbh I would have CS and Barc up in tier 1 tho.

https://markets.ft.com/data/league-tables/tables-and-trends/mergers-and-acquisitions

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  • Prospect in IB - Ind
Mar 28, 2021 - 6:43pm

Those numbers are never very accurate... because banks like Citi who are on the deal for financing more times than not (unlike GS/MS) get M&A credit. Also Citi is probably the biggest size wise out of all BB's. Bigger doesn't mean better.

Mar 29, 2021 - 12:14am

Worth noting that based on the above link, Barcap crushed Americas M&A in 2019: if you filter for M&A, Last year 2019, and select fees (instead of deal value, getting at what others have said about financing vs actual advisory), Barcap ranks #7. Now also take into account that 69% of Barcap's fees came from Americas whereas for Citi that was only 55% (don't think any of us give a **** about Europe), and Barcap was virtually tied with Citi for #5 (Lazard also had outsized Europe presence). 

However, 2020 was a whole different ballgame--looks like Barcap underperformed + boutiques with strong RX franchises (Lazard, EVR, Centerview, HL) outperformed big time and Barcap got pushed  out of the Top 10. Meanwhile, Citi's M&A fees remained constant and the share attributed to Americas rose from 55% to 66%. Blew Barcap out of the water.

Neither came too close to BofA in 2019 or 2020.

As others have said, league tables also do not correlate directly to PE placement--general wisdom is all 3 have strong groups and send kids to plenty of MFs and UMMs every year (the "MF cutoff" above is absurd--most of "tier 2a" sends at least 2-3 to MF each year).

Curious to see how Q12021 fared given how burnt out everyone is.

  • Intern in IB - Gen
Mar 29, 2021 - 12:14am

Agreed. There's also a reason why Citi has quietly restarted their summer internship applications in London in March 2021, only 3 months prior to SA2021 internship, while no other BBs/EBs are doing the same. Lol.

  • Analyst 1 in AM - Equities
Mar 28, 2021 - 7:18pm

Can mostly confirm. Not a terrible place to work (probably a better work life balance than many others out there) but fairly MM focused. I don't know if I'd put RBC above Roths tho. 

  • Prospect in IB - Ind
Mar 28, 2021 - 7:27pm

The placement of RBC here is pretty weird. JEF/Blair/Baird are all better if we're looking at exits tbh.

  • Incoming Analyst in IB-M&A
Mar 28, 2021 - 7:57pm

Mizuho and BMO are definitely below tier 3, Houlihan, Baird, and HW place analysts in mm pe consistently. How many times you seen mizuho on an m&a deal, let alone analysts moving to the buyside? Similar story with bmo but to a lesser extent

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