INVESTMENT BANKING DIVERSITY STATS - As of December, 2024
This employer diversity data is based solely on user submissions to the WSO Company Database for interviews and employment during 2022, 2023, 2024. Historical reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011
Racial Diversity
Firm
YoY Δ
Percentile
BNP Paribas
01
99.0%
Oppenheimer
10
97.9%
JPMorgan
03
96.9%
Qatalyst Partners
03
95.9%
TD Securities
16
94.8%
RBC Capital Markets
01
93.8%
Citigroup
02
92.8%
Scotiabank
05
91.8%
MUFG
17
90.7%
Morgan Stanley
06
89.7%
RBC Royal Bank of Canada
03
88.7%
PJT Partners
08
87.6%
Evercore
02
86.6%
Barclays
05
85.6%
Deutsche Bank
05
84.5%
Goldman Sachs
08
83.5%
HSBC
06
82.5%
Natixis
02
81.4%
UBS AG
05
80.4%
Credit Suisse
05
79.4%
Wells Fargo and Company
04
78.4%
Société Générale
04
77.3%
BMO Capital Markets
12
76.3%
Centerview Partners
07
75.3%
Bank of America Merrill Lynch
02
74.2%
Lazard, Inc.
23
73.2%
Mizuho
05
72.2%
Intrepid Investment Bankers
21
71.1%
GP Bullhound
New
70.1%
Cantor Fitzgerald
02
69.1%
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
UBS (42.9%)
02
99.1%
Scotiabank (37.1%)
12
98.1%
BDA Partners (36.2%)
01
97.2%
Intrepid Investment Bankers (35.4%)
01
96.2%
Nomura Holdings (34.9%)
06
95.3%
China International Capital Corporation (33.8%)
No
94.3%
DNB Markets (31.9%)
15
93.4%
CIBC World Markets (31.8%)
01
92.5%
Intesa Sanpaolo (29.6%)
64
91.5%
Bryan Garnier and Co (29.6%)
05
90.6%
Credit Suisse (27.3%)
08
89.6%
RBC Royal Bank of Canada (27.1%)
17
88.7%
Qatalyst Partners (27.1%)
17
87.7%
Evercore (26.2%)
01
86.8%
JPMorgan (26.1%)
03
85.8%
Centerview Partners (25.8%)
08
84.9%
Perella Weinberg Partners (25.6%)
07
84.0%
Goldman Sachs (25.5%)
02
83.0%
Société Générale (25.4%)
23
82.1%
Morgan Stanley (25.4%)
03
81.1%
Cowen Group (25.4%)
19
80.2%
PJT Partners (25.2%)
13
79.2%
Deutsche Bank (23.9%)
02
78.3%
Citigroup (23.9%)
04
77.4%
Lazard Freres (23.1%)
07
76.4%
Oppenheimer (23.1%)
19
75.5%
UBS AG (22.7%)
09
74.5%
Blackstone Group (22.5%)
11
73.6%
Natixis (22.3%)
02
72.6%
Harris Williams & Co. (22.3%)
17
71.7%
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
Edgemont Capital Partners (50.9%)
02
99.1%
Intrepid Investment Bankers (42.8%)
No
98.1%
Stephens Inc (37.2%)
15
97.2%
Eastdil Secured (34.4%)
24
96.2%
Duff & Phelps (28.5%)
01
95.3%
Stifel Financial (25.3%)
19
94.3%
Piper Sandler (24.2%)
08
93.4%
Macquarie Group Limited ABN (22.0%)
25
92.5%
KeyBanc Capital Markets (21.0%)
58
91.5%
BBVA (20.8%)
21
90.6%
Arma Partners (20.8%)
12
89.6%
Cantor Fitzgerald (20.6%)
56
88.7%
Robert W. Baird & Co. (19.9%)
25
87.7%
Alantra (19.7%)
08
86.8%
MUFG (19.6%)
01
85.8%
Brown Gibbons Lang and Company (17.8%)
67
84.9%
TAP Advisors (17.7%)
New
84.0%
BTG Pactual (17.7%)
New
83.0%
Perella Weinberg Partners (17.1%)
16
82.1%
Lincoln International (17.1%)
07
81.1%
TD Securities (16.6%)
08
80.2%
Qatalyst Partners (16.4%)
30
79.2%
DelMorgan Co (16.3%)
62
78.3%
Cain Brothers (16.3%)
30
77.4%
Mizuho (16.3%)
57
76.4%
DC Advisory (16.3%)
09
75.5%
Raymond James Financial Inc. (15.9%)
05
74.5%
Lazard, Inc. (15.8%)
16
73.6%
Cowen Group (15.3%)
17
72.6%
GP Bullhound (15.2%)
New
71.7%
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
Qatalyst Partners (26.4%)
01
99.1%
Intrepid Investment Bankers (20.0%)
01
98.1%
PwC Corporate Finance (10.6%)
86
97.2%
Moelis & Company (7.4%)
04
96.2%
PJT Partners (7.4%)
01
95.3%
Evercore (7.3%)
01
94.3%
Standard Chartered Bank (7.0%)
04
93.4%
Lincoln International (5.4%)
13
92.5%
Cantor Fitzgerald (5.1%)
66
91.5%
Wells Fargo and Company (4.7%)
09
90.6%
Piper Sandler (4.5%)
29
89.6%
Credit Agricole (4.3%)
10
88.7%
Guggenheim Partners (4.1%)
98
87.7%
Harris Williams & Co. (4.0%)
20
86.8%
Centerview Partners (4.0%)
10
85.8%
Morgan Stanley (4.0%)
01
84.9%
Deutsche Bank (3.7%)
16
84.0%
TD Securities (3.5%)
08
83.0%
Bank of America Merrill Lynch (3.4%)
04
82.1%
Citigroup (3.3%)
08
81.1%
BNP Paribas (3.3%)
03
80.2%
MUFG (3.3%)
08
79.2%
Mizuho (3.3%)
86
78.3%
Société Générale (3.0%)
14
77.4%
JPMorgan (3.0%)
05
76.4%
Perella Weinberg Partners (2.8%)
17
75.5%
Greenhill (2.8%)
05
74.5%
Stifel Financial (2.8%)
01
73.6%
Jefferies & Company (2.5%)
05
72.6%
Lazard Freres (2.3%)
19
71.7%
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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