INVESTMENT BANKING DIVERSITY STATS - As of June, 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
98.5%
Scotiabank
01
97.1%
JPMorgan
01
95.6%
BMO Capital Markets
03
94.1%
Moelis & Company
02
92.6%
Standard Chartered Bank
25
91.2%
RBC Royal Bank of Canada
08
89.7%
Perella Weinberg Partners
06
88.2%
PJT Partners
10
86.8%
Société Générale
03
85.3%
Bank of America Merrill Lynch
01
83.8%
Raymond James Financial Inc.
21
82.4%
BNP Paribas
11
80.9%
Morgan Stanley
02
79.4%
Goldman Sachs
04
77.9%
Evercore
07
76.5%
Greenhill
03
75.0%
HSBC
07
73.5%
TD Securities
03
72.1%
Deutsche Bank
03
70.6%
Citigroup
15
69.1%
MUFG
17
67.6%
Cantor Fitzgerald
01
66.2%
Société Génrale CIB
04
64.7%
Oppenheimer
07
63.2%
CIBC World Markets
03
61.8%
UBS
17
60.3%
KeyBanc Capital Markets
15
58.8%
Houlihan Lokey
13
57.4%
Jefferies & Company
07
55.9%
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
UBS (45.1%)
No
98.6%
Mizuho (44.1%)
No
97.1%
RBC Royal Bank of Canada (40.4%)
02
95.7%
Lazard Freres (38.2%)
22
94.3%
Scotiabank (33.8%)
02
92.9%
Harris Williams & Co. (32.8%)
12
91.4%
Nomura Holdings (30.8%)
03
90.0%
AGC Partners (27.8%)
02
88.6%
Perella Weinberg Partners (27.4%)
03
87.1%
Morgan Stanley (25.8%)
01
85.7%
CIBC World Markets (25.6%)
02
84.3%
Citigroup (25.2%)
04
82.9%
HSBC (24.0%)
16
81.4%
PJT Partners (22.9%)
01
80.0%
JPMorgan (22.9%)
08
78.6%
Rabobank Group (22.7%)
42
77.1%
Goldman Sachs (22.2%)
08
75.7%
DC Advisory (22.1%)
12
74.3%
Oppenheimer (21.2%)
40
72.9%
Natixis (20.9%)
18
71.4%
Evercore (20.3%)
No
70.0%
Barclays (19.3%)
19
68.6%
UBS AG (19.0%)
13
67.1%
Centerview Partners (19.0%)
07
65.7%
Cantor Fitzgerald (18.7%)
18
64.3%
BNP Paribas (18.6%)
26
62.9%
Société Générale (18.5%)
12
61.4%
Truist Securities (18.2%)
25
60.0%
Alantra (18.1%)
31
58.6%
Bank of America Merrill Lynch (18.1%)
03
57.1%
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
97.1%
Natixis (30.6%)
19
95.7%
Eastdil Secured (27.5%)
No
94.3%
Cascadia Capital LLC (26.1%)
03
92.9%
Lazard, Inc. (22.7%)
09
91.4%
Mizuho (22.4%)
57
90.0%
Rabobank Group (22.4%)
36
88.6%
Robert W. Baird & Co. (19.7%)
03
87.1%
Piper Sandler (19.0%)
No
85.7%
JPMorgan (18.6%)
06
84.3%
CIBC World Markets (18.3%)
01
82.9%
William Blair (18.2%)
22
81.4%
Financial Technology Partners (17.7%)
10
80.0%
Standard Chartered Bank (17.4%)
39
78.6%
Carlsquare (17.4%)
45
77.1%
KeyBanc Capital Markets (17.1%)
10
75.7%
BNP Paribas (16.9%)
28
74.3%
Guggenheim Partners (16.6%)
07
72.9%
MUFG (16.0%)
15
71.4%
Deutsche Bank (15.5%)
20
70.0%
Brown Gibbons Lang and Company (15.1%)
17
68.6%
Houlihan Lokey (14.9%)
04
67.1%
Banco Santander (14.5%)
18
65.7%
Lincoln International (14.5%)
07
64.3%
Ducera (14.2%)
43
62.9%
Moelis & Company (13.9%)
06
61.4%
DC Advisory (13.9%)
07
60.0%
Macquarie Group Limited ABN (13.6%)
08
58.6%
Cantor Fitzgerald (12.5%)
21
57.1%
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
Standard Chartered Bank (11.2%)
01
98.6%
Credit Agricole (6.9%)
04
97.1%
Guggenheim Partners (6.9%)
01
95.7%
Cantor Fitzgerald (6.0%)
01
94.3%
Banco Santander (5.4%)
No
92.9%
Piper Sandler (4.4%)
01
91.4%
Lazard Freres (4.2%)
14
90.0%
Lazard, Inc. (3.8%)
No
88.6%
Harris Williams & Co. (3.6%)
08
87.1%
Morgan Stanley (3.6%)
01
85.7%
Lincoln International (3.2%)
02
84.3%
Evercore (3.1%)
03
82.9%
Rothschild (2.8%)
12
81.4%
Bank of America Merrill Lynch (2.8%)
02
80.0%
Citigroup (2.7%)
01
78.6%
PJT Partners (2.5%)
04
77.1%
Moelis & Company (2.5%)
02
75.7%
Wells Fargo and Company (2.5%)
04
74.3%
Deutsche Bank (2.2%)
05
72.9%
Perella Weinberg Partners (2.1%)
03
71.4%
Société Générale (1.8%)
12
70.0%
William Blair (1.7%)
59
68.6%
Goldman Sachs (1.2%)
03
67.1%
Houlihan Lokey (0.8%)
03
65.7%
JPMorgan (0.6%)
03
64.3%
B. Riley & Co. (0.1%)
14
62.9%
Alantra (0.1%)
26
61.4%
BTG Pactual (0.1%)
05
60.0%
Cascadia Capital LLC (0.1%)
09
58.6%
D.A. Davidson & Co (0.1%)
15
57.1%
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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