INVESTMENT BANKING DIVERSITY STATS - As of December, 2015
This employer diversity data is based solely on user submissions to the WSO Company Database for interviews and employment during 2013, 2014, 2015. Historical reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011
Racial Diversity
Firm
YoY Δ
Percentile
MHT Partners
New
98.9%
Willis Capital Markets
27
97.8%
Headwaters
02
96.7%
Tudor Pickering Holt and Co
04
95.7%
BNP Paribas
02
94.6%
Scotiabank
10
93.5%
TAP Advisors
05
92.4%
Rothschild
01
91.3%
JPMorgan Chase
02
90.2%
Goldman Sachs
06
89.1%
RBC Royal Bank of Canada
06
88.0%
HSBC
13
87.0%
RBS Royal Bank of Scotland
10
85.9%
Citigroup
No
84.8%
Société Générale
05
83.7%
CIBC World Markets
10
82.6%
RBC Capital Markets
12
81.5%
Barclays
No
80.4%
Credit Suisse
11
79.3%
TD Securities
29
78.3%
Moelis & Company
01
77.2%
Raymond James Financial Inc.
16
76.1%
Greenhill
08
75.0%
Piper Jaffray
11
73.9%
Wells Fargo and Company
10
72.8%
UBS AG
11
71.7%
Evercore
08
70.7%
Commerzbank AG
05
69.6%
Gleacher
16
68.5%
Bank of America Merrill Lynch
08
67.4%
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 (42.6%)
No
98.8%
Credit Agricole (23.1%)
46
97.5%
RBS Royal Bank of Scotland (19.8%)
02
96.3%
Cowen Group (19.0%)
02
95.0%
Bank of America Merrill Lynch (18.7%)
03
93.8%
Credit Suisse (17.2%)
03
92.5%
HSBC (16.9%)
08
91.3%
Société Générale (16.3%)
04
90.0%
Financial Technology Partners (16.3%)
61
88.8%
National Bank Financial Group (16.1%)
New
87.5%
Greenhill (15.8%)
08
86.3%
Morgan Stanley (15.8%)
02
85.0%
Barclays (15.6%)
01
83.8%
UBS AG (15.6%)
07
82.5%
RBC Royal Bank of Canada (15.0%)
04
81.3%
Nomura Holdings (14.8%)
No
80.0%
JPMorgan Chase (14.7%)
No
78.8%
Siemer & Associates (13.9%)
13
77.5%
Deutsche Bank (13.7%)
03
76.3%
Goldman Sachs (13.7%)
01
75.0%
CIBC World Markets (12.2%)
04
73.8%
Raymond James Financial Inc. (12.0%)
16
72.5%
Citigroup (11.5%)
03
71.3%
BNP Paribas (11.4%)
18
70.0%
Piper Jaffray (11.3%)
02
68.8%
Robert W. Baird & Co. (10.6%)
02
67.5%
Mizuho (10.0%)
14
66.3%
Keefe Bruyette & Woods Inc. (10.0%)
10
65.0%
PNC Financial Services (9.7%)
02
63.8%
Houlihan Lokey (9.5%)
No
62.5%
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 (34.2%)
No
98.9%
Edward Jones (29.5%)
No
97.8%
GCA Savvian (29.5%)
04
96.7%
China International Capital Corporation (25.6%)
05
95.6%
Intrepid Investment Bankers (22.3%)
03
94.4%
Oppenheimer (22.3%)
14
93.3%
AGC Partners (21.7%)
06
92.2%
Stifel Nicolaus and Company, Inc (21.0%)
06
91.1%
Cowen Group (20.7%)
12
90.0%
JMP Group (20.6%)
06
88.9%
D.A. Davidson & Co (19.5%)
New
87.8%
Harvey & Company (18.4%)
01
86.7%
Duff & Phelps (18.3%)
07
85.6%
Piper Jaffray (18.0%)
04
84.4%
Keefe Bruyette & Woods Inc. (17.9%)
10
83.3%
Harris Williams & Co. (17.7%)
10
82.2%
BNP Paribas (17.3%)
05
81.1%
Raymond James Financial Inc. (17.3%)
02
80.0%
Macquarie Group Limited ABN (16.8%)
04
78.9%
Greenhill (16.6%)
05
77.8%
Credit Agricole (16.5%)
04
76.7%
Robert W. Baird & Co. (15.8%)
12
75.6%
Moelis & Company (15.8%)
05
74.4%
KeyBanc Capital Markets (15.7%)
19
73.3%
Tudor Pickering Holt and Co (15.6%)
40
72.2%
BB&T (15.6%)
21
71.1%
MHT Partners (15.2%)
New
70.0%
Stephens Inc (15.1%)
06
68.9%
RBS Royal Bank of Scotland (15.0%)
08
67.8%
SunTrust Robinson Humphrey STRH (14.5%)
11
66.7%
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
Edward Jones (21.5%)
No
98.9%
Commerzbank AG (15.9%)
No
97.8%
MHT Partners (7.3%)
New
96.7%
Canaccord Financial (6.0%)
02
95.6%
BB&T (5.1%)
66
94.4%
Lazard Middle Market (4.8%)
05
93.3%
Keefe Bruyette & Woods Inc. (4.4%)
No
92.2%
Canaccord Genuity (4.4%)
04
91.1%
Rothschild (4.4%)
04
90.0%
Goldman Sachs (4.2%)
02
88.9%
RBC Capital Markets (3.9%)
02
87.8%
Société Générale (3.8%)
02
86.7%
TD Securities (3.8%)
01
85.6%
Greenhill (3.7%)
08
84.4%
Barclays (3.3%)
03
83.3%
Bank of America Merrill Lynch (3.0%)
01
82.2%
Lincoln International (2.9%)
13
81.1%
Credit Suisse (2.8%)
02
80.0%
Deutsche Bank (2.8%)
06
78.9%
Standard Chartered Bank (2.7%)
01
77.8%
Perella Weinberg Partners (2.5%)
02
76.7%
Citigroup (2.4%)
03
75.6%
Jefferies & Company (2.4%)
07
74.4%
Cowen Group (2.3%)
06
73.3%
HSBC (2.3%)
08
72.2%
Houlihan Lokey (2.1%)
11
71.1%
UBS AG (1.9%)
01
70.0%
Guggenheim Partners (1.8%)
04
68.9%
Blackstone Group (1.8%)
05
67.8%
BNP Paribas (1.7%)
01
66.7%
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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