INVESTMENT BANKING DIVERSITY STATS - As of December, 2017
This employer diversity data is based solely on user submissions to the WSO Company Database for interviews and employment during 2015, 2016, 2017. Historical reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011
Racial Diversity
Firm
YoY Δ
Percentile
Goldman Sachs
No
98.7%
Greenhill
01
97.4%
JPMorgan
05
96.2%
Société Générale
02
94.9%
Barclays
No
93.6%
Deutsche Bank
15
92.3%
Citigroup
03
91.0%
Cowen Group
53
89.7%
Bank of America Merrill Lynch
11
88.5%
DNB Markets
New
87.2%
Perella Weinberg Partners
51
85.9%
Macquarie Group Limited ABN
12
84.6%
Credit Suisse
06
83.3%
Evercore
01
82.1%
HSBC
09
80.8%
TD Securities
16
79.5%
Moelis & Company
08
78.2%
Wells Fargo and Company
No
76.9%
RBC Capital Markets
03
75.6%
Jefferies & Company
08
74.4%
Stephens Inc
05
73.1%
Canaccord Genuity
30
71.8%
CIBC World Markets
17
70.5%
Nomura Holdings
13
69.2%
Standard Chartered Bank
02
67.9%
Cantor Fitzgerald
New
66.7%
PJT Partners
09
65.4%
Morgan Stanley
02
64.1%
MHT Partners
20
62.8%
William Blair
01
61.5%
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
Citic Securities International （中信证卷） (50.9%)
New
98.9%
China International Capital Corporation (35.6%)
29
97.7%
RBS Royal Bank of Scotland (26.6%)
01
96.6%
Greentech Capital Advisors (23.9%)
New
95.5%
Centerview Partners (22.9%)
57
94.3%
Credit Agricole (22.5%)
06
93.2%
National Bank Financial Group (22.2%)
04
92.0%
HSBC (21.5%)
11
90.9%
BNP Paribas (21.0%)
12
89.8%
Deutsche Bank (20.8%)
14
88.6%
JMP Group (20.7%)
35
87.5%
Financial Technology Partners (20.4%)
09
86.4%
Goldman Sachs (20.2%)
05
85.2%
JPMorgan (18.4%)
04
84.1%
Bank of America Merrill Lynch (17.8%)
11
83.0%
Nomura Holdings (17.8%)
09
81.8%
VTB Group (17.6%)
New
80.7%
Barclays (16.9%)
13
79.5%
Hammond Hanlon Camp (16.2%)
New
78.4%
UBS AG (16.2%)
05
77.3%
PNC Financial Services (15.8%)
08
76.1%
Citigroup (15.7%)
02
75.0%
Macquarie Group Limited ABN (15.3%)
25
73.9%
Stifel Nicolaus and Company, Inc (15.3%)
13
72.7%
CIBC World Markets (15.2%)
09
71.6%
Credit Suisse (15.2%)
12
70.5%
Société Générale (14.9%)
09
69.3%
Morgan Stanley (14.6%)
11
68.2%
RBC Royal Bank of Canada (14.6%)
23
67.0%
Lazard, Inc. (14.3%)
01
65.9%
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
Harvey & Company (36.6%)
New
98.9%
Black Arch Partners (34.3%)
New
97.7%
Cascadia Capital LLC (29.4%)
New
96.6%
AGC Partners (28.0%)
01
95.5%
Stephens Inc (26.8%)
No
94.3%
Centerview Partners (26.2%)
24
93.2%
VTB Group (26.0%)
New
92.0%
KeyBanc Capital Markets (24.0%)
18
90.9%
Ziegler (24.0%)
New
89.8%
Alantra (22.3%)
New
88.6%
Mizuho (20.9%)
47
87.5%
Cantor Fitzgerald (20.6%)
New
86.4%
Piper Jaffray (20.3%)
20
85.2%
Harris Williams & Co. (19.0%)
42
84.1%
SunTrust Robinson Humphrey STRH (18.4%)
06
83.0%
RBS Royal Bank of Scotland (17.9%)
02
81.8%
MHT Partners (17.3%)
40
80.7%
Stifel Nicolaus and Company, Inc (16.6%)
17
79.5%
Oppenheimer (16.1%)
13
78.4%
Nomura Holdings (16.0%)
08
77.3%
PNC Financial Services (15.8%)
05
76.1%
GCA Savvian (15.1%)
15
75.0%
Millstein and Co (15.1%)
New
73.9%
Cowen Group (15.1%)
05
72.7%
Raymond James Financial Inc. (14.9%)
14
71.6%
MUFG (14.2%)
New
70.5%
Moelis & Company (14.0%)
01
69.3%
Barclays (13.6%)
08
68.2%
Guggenheim Partners (13.4%)
25
67.0%
William Blair (13.1%)
08
65.9%
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
Black Arch Partners (16.8%)
New
98.9%
BB&T (8.5%)
01
97.7%
Harris Williams & Co. (7.5%)
63
96.6%
PJT Partners (6.0%)
01
95.5%
Stephens Inc (5.9%)
01
94.3%
MHT Partners (5.6%)
04
93.2%
Greenhill (4.8%)
01
92.0%
HSBC (4.8%)
19
90.9%
Lincoln International (4.6%)
05
89.8%
Jefferies & Company (4.3%)
23
88.6%
Lazard, Inc. (3.9%)
01
87.5%
Goldman Sachs (3.7%)
04
86.4%
Cowen Group (3.0%)
05
85.2%
Moelis & Company (2.9%)
66
84.1%
Deutsche Bank (2.8%)
05
83.0%
Wells Fargo and Company (2.6%)
08
81.8%
Barclays (2.5%)
08
80.7%
Houlihan Lokey (2.3%)
07
79.5%
Citigroup (2.3%)
09
78.4%
Credit Suisse (2.3%)
03
77.3%
Raymond James Financial Inc. (2.3%)
54
76.1%
Bank of America Merrill Lynch (2.1%)
01
75.0%
JPMorgan (1.9%)
03
73.9%
Perella Weinberg Partners (1.9%)
43
72.7%
BMO Capital Markets (1.8%)
03
71.6%
Nomura Holdings (1.8%)
55
70.5%
Société Générale (1.5%)
16
69.3%
UBS AG (1.4%)
02
68.2%
William Blair (1.3%)
44
67.0%
SunTrust Robinson Humphrey STRH (1.3%)
01
65.9%
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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