INVESTMENT BANKING DIVERSITY STATS - As of December, 2014
This employer diversity data is based solely on user submissions to the WSO Company Database for interviews and employment during 2012, 2013, 2014. Historical reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011
Racial Diversity
Firm
YoY Δ
Percentile
Headwaters
New
98.8%
TAP Advisors
New
97.7%
RBS Royal Bank of Scotland
03
96.5%
Goldman Sachs
01
95.3%
RBC Capital Markets
48
94.2%
CIBC World Markets
04
93.0%
BNP Paribas
18
91.9%
Tudor Pickering Holt and Co
46
90.7%
Rothschild
31
89.5%
Société Générale
12
88.4%
JPMorgan Chase
02
87.2%
BB&T
11
86.0%
Piper Jaffray
03
84.9%
Citigroup
07
83.7%
Wells Fargo and Company
11
82.6%
Scotiabank
04
81.4%
RBC Royal Bank of Canada
07
80.2%
Barclays
01
79.1%
Harvey & Company
02
77.9%
Moelis & Company
09
76.7%
Morgan Stanley
03
75.6%
Bank of America Merrill Lynch
02
74.4%
Credit Agricole
06
73.3%
PNC Financial Services
08
72.1%
HSBC
01
70.9%
Duff & Phelps
12
69.8%
Centerview Partners
19
68.6%
Deutsche Bank
No
67.4%
Willis Capital Markets
New
66.3%
Credit Suisse
03
65.1%
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
Tudor Pickering Holt and Co (33.7%)
03
98.7%
Cowen Group (17.7%)
01
97.3%
Greenhill (16.9%)
04
96.0%
Canaccord Genuity (16.0%)
New
94.7%
RBS Royal Bank of Scotland (15.9%)
01
93.3%
Raymond James Financial Inc. (14.9%)
03
92.0%
UBS AG (14.4%)
02
90.7%
Bank of America Merrill Lynch (14.4%)
02
89.3%
Credit Suisse (14.2%)
01
88.0%
Morgan Stanley (14.2%)
02
86.7%
RBC Royal Bank of Canada (13.4%)
15
85.3%
Société Générale (12.4%)
03
84.0%
Mizuho (12.3%)
18
82.7%
Barclays (12.3%)
10
81.3%
HSBC (12.1%)
01
80.0%
Nomura Holdings (12.1%)
03
78.7%
JPMorgan Chase (11.6%)
08
77.3%
Keefe Bruyette & Woods Inc. (11.5%)
New
76.0%
Goldman Sachs (11.0%)
10
74.7%
Citigroup (11.0%)
02
73.3%
Stout Risius Ross (10.9%)
19
72.0%
Deutsche Bank (10.7%)
06
70.7%
Piper Jaffray (10.6%)
12
69.3%
Robert W. Baird & Co. (10.4%)
04
68.0%
CIBC World Markets (10.4%)
02
66.7%
China International Capital Corporation (9.9%)
New
65.3%
PNC Financial Services (9.6%)
05
64.0%
Macquarie Group Limited ABN (9.0%)
11
62.7%
CIMB Group (9.0%)
New
61.3%
Houlihan Lokey (8.4%)
12
60.0%
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
Arbor Advisors (40.9%)
New
98.8%
Edward Jones (34.1%)
01
97.7%
Public Financial Management (31.8%)
01
96.5%
JMP Group (29.2%)
No
95.3%
Keefe Bruyette & Woods Inc. (25.7%)
48
94.2%
Duff & Phelps (22.5%)
No
93.0%
GCA Savvian (22.4%)
New
91.9%
Intrepid Investment Bankers (21.8%)
New
90.7%
China International Capital Corporation (21.4%)
54
89.5%
Robert W. Baird & Co. (19.9%)
02
88.4%
Harvey & Company (19.6%)
07
87.2%
BNP Paribas (18.6%)
11
86.0%
AGC Partners (18.4%)
New
84.9%
Stifel Nicolaus and Company, Inc (17.8%)
37
83.7%
Macquarie Group Limited ABN (17.5%)
07
82.6%
Raymond James Financial Inc. (17.2%)
15
81.4%
Credit Agricole (17.2%)
No
80.2%
Piper Jaffray (16.9%)
11
79.1%
Nomura Holdings (16.9%)
07
77.9%
Oppenheimer (16.6%)
39
76.7%
Cowen Group (16.6%)
18
75.6%
Stephens Inc (16.6%)
03
74.4%
Headwaters (16.4%)
New
73.3%
Canaccord Genuity (16.4%)
New
72.1%
Greenhill (16.2%)
20
70.9%
Harris Williams & Co. (15.9%)
10
69.8%
Centerview Partners (15.0%)
16
68.6%
Moelis & Company (14.9%)
19
67.4%
Bank of America Merrill Lynch (14.9%)
09
66.3%
Lincoln International (14.7%)
06
65.1%
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
Edward Jones (22.3%)
No
98.8%
Commerzbank AG (14.4%)
No
97.7%
Public Financial Management (7.8%)
No
96.5%
Canaccord Genuity (7.8%)
New
95.3%
Rothschild (5.7%)
07
94.2%
Canaccord Financial (5.4%)
No
93.0%
Keefe Bruyette & Woods Inc. (5.1%)
25
91.9%
Goldman Sachs (4.4%)
No
90.7%
RBC Capital Markets (4.0%)
05
89.5%
Société Générale (3.9%)
46
88.4%
Lazard Middle Market (3.5%)
10
87.2%
Barclays (3.4%)
08
86.0%
Deutsche Bank (3.4%)
03
84.9%
TD Securities (3.2%)
43
83.7%
Bank of America Merrill Lynch (3.0%)
01
82.6%
Jefferies & Company (3.0%)
01
81.4%
HSBC (2.9%)
12
80.2%
Cowen Group (2.8%)
29
79.1%
Standard Chartered Bank (2.7%)
24
77.9%
Credit Suisse (2.6%)
06
76.7%
PNC Financial Services (2.6%)
08
75.6%
Greenhill (2.3%)
24
74.4%
Perella Weinberg Partners (2.2%)
12
73.3%
Guggenheim Partners (2.0%)
08
72.1%
Citigroup (1.9%)
03
70.9%
Moelis & Company (1.9%)
19
69.8%
JPMorgan Chase (1.9%)
10
68.6%
UBS AG (1.7%)
04
67.4%
BNP Paribas (1.7%)
01
66.3%
Lincoln International (1.6%)
20
65.1%
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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