INVESTMENT BANKING DIVERSITY STATS - As of July, 2026
This employer diversity data is based solely on user submissions to the WSO Company Database for interviews and employment during 2024, 2025, YTD 2026. Historical reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011
Racial Diversity
Firm
YoY Δ
Percentile
Credit Agricole
07
98.6%
Scotiabank
01
97.1%
BMO Capital Markets
02
95.7%
JPMorgan
No
94.2%
Moelis & Company
No
92.8%
RBC Royal Bank of Canada
10
91.3%
Perella Weinberg Partners
08
89.9%
Standard Chartered Bank
30
88.4%
Bank of America Merrill Lynch
04
87.0%
PJT Partners
09
85.5%
Société Générale
03
84.1%
Goldman Sachs
01
82.6%
BNP Paribas
11
81.2%
Cantor Fitzgerald
04
79.7%
Morgan Stanley
03
78.3%
Raymond James Financial Inc.
17
76.8%
Evercore
08
75.4%
Greenhill
03
73.9%
Deutsche Bank
02
72.5%
TD Securities
03
71.0%
HSBC
04
69.6%
Citigroup
16
68.1%
MUFG
16
66.7%
Stout Risius Ross
21
65.2%
Société Génrale CIB
03
63.8%
Oppenheimer
08
62.3%
UBS AG
03
60.9%
CIBC World Markets
01
59.4%
Jefferies & Company
05
58.0%
Houlihan Lokey
13
56.5%
Percentile rank on racial diversity based on how balanced companies are across five primary groups: Caucasian, Asian, African American, Latino/Spanish Origin and Other
Companies with only 10 or more submissions included
The up and down arrows next to each company represent the relative increase or decrease in position compared to the prior year report. The "= =" equal signs means there was no change and the "+ +" plus signs indicate a new company on the statistics.
Female Representation
Firm
YoY Δ
Percentile
Mizuho (44.1%)
01
98.6%
RBC Royal Bank of Canada (40.4%)
03
97.2%
UBS (39.3%)
02
95.8%
Lazard Freres (33.9%)
21
94.4%
Scotiabank (33.8%)
01
93.0%
Nomura Holdings (30.8%)
03
91.5%
Harris Williams & Co. (30.6%)
12
90.1%
AGC Partners (27.8%)
02
88.7%
Perella Weinberg Partners (26.9%)
03
87.3%
Morgan Stanley (26.9%)
01
85.9%
CIBC World Markets (25.6%)
02
84.5%
Citigroup (24.9%)
04
83.1%
HSBC (23.5%)
15
81.7%
JPMorgan (22.6%)
09
80.3%
DC Advisory (22.1%)
14
78.9%
PJT Partners (21.8%)
03
77.5%
Goldman Sachs (21.6%)
09
76.1%
Oppenheimer (21.1%)
41
74.6%
Rabobank Group (21.1%)
38
73.2%
Natixis (20.9%)
18
71.8%
Evercore (20.0%)
No
70.4%
Société Générale (20.0%)
07
69.0%
Bank of America Merrill Lynch (18.2%)
04
67.6%
UBS AG (18.2%)
11
66.2%
Centerview Partners (18.1%)
08
64.8%
Alantra (18.1%)
35
63.4%
BNP Paribas (18.0%)
24
62.0%
Truist Securities (17.8%)
25
60.6%
Credit Agricole (17.8%)
05
59.2%
Société Génrale CIB (17.6%)
12
57.7%
Estimate percentage of females is shown in parenthesis after the company name
Companies with only 10 or more submissions included
The up and down arrows next to each company represent the relative increase or decrease in position compared to the prior year report. The "= =" equal signs means there was no change and the "+ +" plus signs indicate a new company on the statistics.
Athletic Representation
Firm
YoY Δ
Percentile
AGC Partners (40.9%)
No
98.6%
Stephens Inc (35.9%)
01
97.2%
Eastdil Secured (32.1%)
01
95.8%
Natixis (30.7%)
20
94.4%
Cascadia Capital LLC (26.1%)
03
93.0%
Robert W. Baird & Co. (22.7%)
01
91.5%
Mizuho (22.4%)
59
90.1%
Lazard, Inc. (21.1%)
11
88.7%
Rabobank Group (20.9%)
35
87.3%
Ducera (19.6%)
61
85.9%
Piper Sandler (18.5%)
02
84.5%
JPMorgan (18.4%)
05
83.1%
CIBC World Markets (18.3%)
02
81.7%
PwC Corporate Finance (17.8%)
16
80.3%
Financial Technology Partners (17.7%)
10
78.9%
Carlsquare (17.4%)
46
77.5%
William Blair (17.4%)
19
76.1%
Guggenheim Partners (16.4%)
08
74.6%
BNP Paribas (16.3%)
28
73.2%
Houlihan Lokey (16.2%)
08
71.8%
KeyBanc Capital Markets (16.0%)
14
70.4%
MUFG (16.0%)
16
69.0%
UBS AG (15.9%)
31
67.6%
Standard Chartered Bank (15.7%)
33
66.2%
Deutsche Bank (15.2%)
15
64.8%
Brown Gibbons Lang and Company (15.1%)
13
63.4%
Lincoln International (14.5%)
07
62.0%
Banco Santander (14.0%)
14
60.6%
DC Advisory (13.9%)
06
59.2%
Lazard Freres (13.8%)
17
57.7%
Estimated percentage of varsity athletes is shown in parenthesis after the company name
Companies with only 10 or more submissions included
The up and down arrows next to each company represent the relative increase or decrease in position compared to the prior year report. The "= =" equal signs means there was no change and the "+ +" plus signs indicate a new company on the statistics.
Military Representation
Firm
YoY Δ
Percentile
PwC Corporate Finance (16.8%)
No
98.6%
Standard Chartered Bank (10.1%)
No
97.2%
Credit Agricole (6.9%)
03
95.8%
Guggenheim Partners (6.8%)
01
94.4%
Cantor Fitzgerald (5.6%)
01
93.0%
Banco Santander (5.2%)
01
91.5%
Piper Sandler (4.2%)
No
90.1%
Morgan Stanley (3.5%)
03
88.7%
Lazard, Inc. (3.5%)
No
87.3%
Lazard Freres (3.4%)
11
85.9%
Harris Williams & Co. (3.4%)
06
84.5%
Lincoln International (3.2%)
No
83.1%
Evercore (3.1%)
02
81.7%
Rothschild (2.8%)
11
80.3%
Citigroup (2.7%)
01
78.9%
Bank of America Merrill Lynch (2.6%)
03
77.5%
Wells Fargo and Company (2.5%)
03
76.1%
Moelis & Company (2.5%)
02
74.6%
PJT Partners (2.4%)
No
73.2%
Deutsche Bank (2.2%)
04
71.8%
Perella Weinberg Partners (2.1%)
02
70.4%
Société Générale (1.8%)
14
69.0%
William Blair (1.6%)
60
67.6%
Goldman Sachs (1.1%)
02
66.2%
Houlihan Lokey (0.8%)
02
64.8%
JPMorgan (0.6%)
04
63.4%
B. Riley & Co. (0.1%)
14
62.0%
Alantra (0.1%)
26
60.6%
BTG Pactual (0.1%)
05
59.2%
Cascadia Capital LLC (0.1%)
09
57.7%
Estimated percentage of employees with military association is shown in parenthesis after the company name
Companies with only 10 or more submissions included
The up and down arrows next to each company represent the relative increase or decrease in position compared to the prior year report. The "= =" equal signs means there was no change and the "+ +" plus signs indicate a new company on the statistics
Thousands of Interview Questions Available by Firm
Methodology FAQ
How often is this data updated?
The rankings are constantly changing and evolving based on additional data we collect every day. The graphs and tables use the data from YTD and the prior 2 years. See tabs located above on this page to access previous year rankings.
Why do the average compensation numbers look so low?
Remember that the compensation you are accustomed to hearing for top performers in the top groups in New York is well above the average for cities around the world. The compensation average graphs are a global average which includes regional cities and groups that bring the average down. If you would like company and group specific compensation data, please visit the WSO Company Database.
Where does this data come from?
The compensation, review and interview data comes from WSO member submissions to the WSO Company Database. With over 50,000 submissions to date across thousands of companies, the database is solely a representation of what our members were paid and how they rank companies on various metrics. Please see below for a detailed breakdown of the member statistics for those that have contributed to the database.
What are the percentile rankings based on?
The percentile rankings of companies listed here are based on the current YTD and the prior two years of data for companies that received at least one vote. The simple average scores are converted into an Adjusted Score before the companies are ranked to take into account companies with a smaller sample size. This method uses Bayesian Statistics.
Why do you use Bayesian Statistics to adjust scores?
This methodology is used in order to account for standard deviation in rankings. As a company gets more rankings and data, we have more confidence that the average ranking is a true reflection of reality, so this is reflected in the adjusted scores and Percentile rankings. Learn more about Bayesian Statistics here.
Why don't I see company XYZ?
Some great smaller firms may not be represented in the rankings for the simple reason that we have not collected enough data to represent them accurately or for us to have enough data to display them at all.
What is the geographical representation of the submissions?
The WSO user base is very US-centric with approximately 70% of all submissions coming within the United States of America. Please see the detailed breakdown of the member statistics for those that have contributed to the database. For more company and city specific compensation, please visit the WSO Company Database.
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