INVESTMENT BANKING DIVERSITY STATS - As of December, 2018
This employer diversity data is based solely on user submissions to the WSO Company Database for interviews and employment during 2016, 2017, 2018. Historical reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011
Racial Diversity
Firm
YoY Δ
Percentile
Banco Santander
New
99.0%
JPMorgan Chase
01
98.0%
Goldman Sachs
02
96.9%
IndustryPro
New
95.9%
Greenhill
03
94.9%
Barclays
No
93.9%
Loop Capital Markets
New
92.9%
FocalPoint Partners LLC
New
91.8%
Citigroup
04
90.8%
Macquarie Group Limited ABN
No
89.8%
William Blair
18
88.8%
Bank of America Merrill Lynch
01
87.8%
Morgan Stanley
14
86.7%
Deutsche Bank
09
85.7%
HSBC
01
84.7%
Cantor Fitzgerald
06
83.7%
Natixis
21
82.7%
Wells Fargo and Company
03
81.6%
Nomura Holdings
02
80.6%
RBC Capital Markets
01
79.6%
Evercore
05
78.6%
Société Générale
18
77.6%
Cross Keys Capital
New
76.5%
Lazard Freres
New
75.5%
Credit Suisse
13
74.5%
Perella Weinberg Partners
17
73.5%
CIBC World Markets
03
72.4%
Moelis & Company
10
71.4%
BNP Paribas
08
70.4%
BB&T
New
69.4%
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
Citic Securities International （中信证卷） (41.8%)
No
99.2%
China International Capital Corporation (33.8%)
No
98.3%
RBS Royal Bank of Scotland (32.5%)
01
97.5%
Skandinaviska Enskilda Banken SEB (31.6%)
New
96.7%
nomura securities (30.9%)
02
95.8%
Greentech Capital Advisors (25.7%)
01
95.0%
Cain Brothers (22.8%)
New
94.2%
JMP Group (20.4%)
03
93.3%
Deutsche Bank (19.6%)
03
92.5%
HSBC (19.5%)
01
91.7%
National Bank Financial Group (19.4%)
03
90.8%
RBC Royal Bank of Canada (19.0%)
08
90.0%
JPMorgan Chase (18.6%)
02
89.2%
Union Square Advisors (18.5%)
24
88.3%
BNP Paribas (18.1%)
05
87.5%
Morgan Stanley (18.0%)
15
86.7%
Goldman Sachs (18.0%)
03
85.8%
Barclays (17.9%)
No
85.0%
Stifel Nicolaus and Company, Inc (17.7%)
04
84.2%
Credit Suisse (17.2%)
05
83.3%
RBC Capital Markets (17.1%)
16
82.5%
Janney Montgomery Scott (16.4%)
New
81.7%
Citigroup (16.3%)
01
80.8%
Lazard Middle Market (16.3%)
03
80.0%
VTB Group (16.2%)
09
79.2%
Capstone Headwaters (16.2%)
New
78.3%
Société Générale (16.2%)
01
77.5%
Bank of America Merrill Lynch (16.2%)
11
76.7%
Centerview Partners (16.2%)
23
75.8%
H.C. Wainwright & Co. (15.1%)
New
75.0%
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
Seaport Global Securities (40.8%)
New
99.2%
Harris Williams & Co. (39.4%)
11
98.3%
Mesirow Financial (31.7%)
New
97.5%
Capstone Headwaters (31.7%)
New
96.7%
Stephens Inc (28.5%)
01
95.8%
Headwaters (27.5%)
New
95.0%
DC Advisory (27.5%)
New
94.2%
Capstone Partners (27.5%)
New
93.3%
Cascadia Capital LLC (27.5%)
07
92.5%
Stout Risius Ross (25.3%)
63
91.7%
AGC Partners (24.7%)
08
90.8%
BBVA (24.3%)
New
90.0%
VTB Group (24.0%)
07
89.2%
Fifth Third Securities (24.0%)
New
88.3%
Oppenheimer (23.3%)
04
87.5%
Centerview Partners (23.0%)
11
86.7%
Berenberg Bank (22.9%)
New
85.8%
PwC Corporate Finance (22.3%)
New
85.0%
Sandler ONeill (20.8%)
New
84.2%
nomura securities (19.8%)
09
83.3%
Piper Jaffray (19.1%)
09
82.5%
Mizuho (18.9%)
12
81.7%
SunTrust Robinson Humphrey STRH (18.9%)
09
80.8%
Nomura Holdings (18.6%)
07
80.0%
Intrepid Investment Bankers (17.7%)
New
79.2%
Dinan & Company LLC (17.7%)
New
78.3%
Cain Brothers (17.4%)
New
77.5%
Loop Capital Markets (17.4%)
New
76.7%
Greenhill (16.9%)
15
75.8%
Raymond James Financial Inc. (16.6%)
10
75.0%
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
DBS Group (28.7%)
New
99.2%
H.C. Wainwright & Co. (14.4%)
New
98.3%
Headwaters (13.4%)
New
97.5%
Cain Brothers (11.2%)
New
96.7%
PwC Corporate Finance (7.2%)
New
95.8%
Nomura Holdings (6.8%)
14
95.0%
HSBC (4.4%)
02
94.2%
Harris Williams & Co. (4.4%)
07
93.3%
Moelis & Company (4.0%)
02
92.5%
PJT Partners (3.9%)
08
91.7%
KeyBanc Capital Markets (3.5%)
70
90.8%
Stephens Inc (3.4%)
09
90.0%
JPMorgan Chase (3.4%)
11
89.2%
Citigroup (3.3%)
02
88.3%
Raymond James Financial Inc. (3.2%)
02
87.5%
Greenhill (3.1%)
10
86.7%
Barclays (3.0%)
02
85.8%
UBS AG (2.7%)
08
85.0%
Deutsche Bank (2.5%)
07
84.2%
Goldman Sachs (2.4%)
11
83.3%
Lazard Middle Market (2.3%)
13
82.5%
Credit Suisse (2.3%)
03
81.7%
Wells Fargo and Company (2.1%)
09
80.8%
Bank of America Merrill Lynch (1.9%)
03
80.0%
Houlihan Lokey (1.8%)
07
79.2%
Cowen Group (1.6%)
16
78.3%
Evercore (1.5%)
03
77.5%
Morgan Stanley (1.5%)
03
76.7%
Lincoln International (1.4%)
22
75.8%
SunTrust Robinson Humphrey STRH (1.4%)
03
75.0%
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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