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
98.9%
JPMorgan
08
97.8%
RBC Capital Markets
01
96.7%
Citigroup
04
95.7%
TD Securities
16
94.6%
Oppenheimer
10
93.5%
Scotiabank
04
92.4%
UBS
01
91.3%
MUFG
17
90.2%
Morgan Stanley
04
89.1%
Deutsche Bank
02
88.0%
RBC Royal Bank of Canada
06
87.0%
Qatalyst Partners
10
85.9%
Goldman Sachs
02
84.8%
Evercore
No
83.7%
BMO Capital Markets
19
82.6%
Barclays
07
81.5%
PJT Partners
07
80.4%
Natixis
05
79.3%
Société Générale
07
78.3%
HSBC
02
77.2%
Cantor Fitzgerald
16
76.1%
Jefferies & Company
06
75.0%
Wells Fargo and Company
04
73.9%
Bank of America Merrill Lynch
03
72.8%
J.P. Morgan
07
71.7%
Credit Suisse
10
70.7%
PwC Corporate Finance
No
69.6%
Centerview Partners
01
68.5%
Banco Santander
11
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
Nomura Securities (46.4%)
21
99.0%
UBS (45.0%)
01
98.0%
Scotiabank (38.5%)
09
97.1%
BDA Partners (36.2%)
No
96.1%
DNB Markets (34.6%)
11
95.1%
China International Capital Corporation (33.8%)
03
94.1%
Bryan Garnier and Co (31.9%)
02
93.1%
Intesa Sanpaolo (29.6%)
65
92.2%
Nomura Holdings (28.8%)
03
91.2%
CIBC World Markets (28.6%)
03
90.2%
RBC Royal Bank of Canada (28.2%)
12
89.2%
Credit Suisse (27.3%)
06
88.2%
Evercore (26.5%)
01
87.3%
Centerview Partners (26.3%)
09
86.3%
Société Générale (26.2%)
25
85.3%
Perella Weinberg Partners (25.6%)
06
84.3%
Cowen Group (25.4%)
15
83.3%
J.P. Morgan (24.4%)
16
82.4%
Goldman Sachs (24.2%)
02
81.4%
JPMorgan (24.1%)
01
80.4%
Citigroup (24.0%)
04
79.4%
Morgan Stanley (23.7%)
02
78.4%
PJT Partners (23.7%)
15
77.5%
Intrepid Investment Bankers (23.4%)
11
76.5%
Qatalyst Partners (23.1%)
14
75.5%
Deutsche Bank (22.7%)
03
74.5%
D.A. Davidson & Co (22.5%)
19
73.5%
Natixis (22.3%)
07
72.5%
DC Advisory (22.1%)
02
71.6%
Progress Partners (21.0%)
26
70.6%
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%)
01
99.0%
Stephens Inc (40.4%)
10
98.0%
Eastdil Secured (34.4%)
75
97.1%
J.P. Morgan (30.2%)
51
96.1%
Duff & Phelps (29.4%)
01
95.1%
Intrepid Investment Bankers (27.9%)
01
94.1%
Stifel Financial (27.7%)
15
93.1%
Piper Sandler (24.9%)
07
92.2%
KeyBanc Capital Markets (21.9%)
54
91.2%
Cantor Fitzgerald (21.7%)
47
90.2%
BBVA (20.9%)
16
89.2%
Arma Partners (20.9%)
12
88.2%
Macquarie Group Limited ABN (20.3%)
29
87.3%
MUFG (20.2%)
No
86.3%
Robert W. Baird & Co. (20.2%)
16
85.3%
Alantra (19.7%)
10
84.3%
Brown Gibbons Lang and Company (17.8%)
65
83.3%
TAP Advisors (17.7%)
New
82.4%
BTG Pactual (17.7%)
New
81.4%
DC Advisory (17.7%)
04
80.4%
Lincoln International (17.4%)
04
79.4%
Qatalyst Partners (17.4%)
23
78.4%
Perella Weinberg Partners (17.1%)
20
77.5%
Cowen Group (17.0%)
08
76.5%
Lazard Freres (17.0%)
21
75.5%
DelMorgan Co (16.4%)
60
74.5%
Raymond James Financial Inc. (16.3%)
06
73.5%
TD Securities (16.0%)
02
72.5%
Greenhill (14.2%)
36
71.6%
Black Arch Partners (14.2%)
22
70.6%
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 (27.9%)
01
99.0%
PwC Corporate Finance (10.6%)
85
98.0%
Intrepid Investment Bankers (9.2%)
02
97.1%
Standard Chartered Bank (7.8%)
01
96.1%
J.P. Morgan (6.0%)
08
95.1%
Moelis & Company (5.8%)
01
94.1%
Lincoln International (5.5%)
12
93.1%
Cantor Fitzgerald (5.4%)
60
92.2%
Evercore (4.9%)
02
91.2%
Harris Williams & Co. (4.8%)
23
90.2%
PJT Partners (4.7%)
06
89.2%
Wells Fargo and Company (4.7%)
04
88.2%
Piper Sandler (4.6%)
26
87.3%
Credit Agricole (4.4%)
07
86.3%
Guggenheim Partners (4.1%)
97
85.3%
Deutsche Bank (3.8%)
15
84.3%
Jefferies & Company (3.7%)
02
83.3%
MUFG (3.7%)
08
82.4%
Bank of America Merrill Lynch (3.6%)
03
81.4%
Greenhill (3.5%)
09
80.4%
BNP Paribas (3.4%)
07
79.4%
Stifel Financial (3.1%)
06
78.4%
Citigroup (3.0%)
09
77.5%
Morgan Stanley (2.9%)
07
76.5%
Perella Weinberg Partners (2.8%)
15
75.5%
TD Securities (2.7%)
08
74.5%
RBC Royal Bank of Canada (2.5%)
15
73.5%
Lazard Freres (2.4%)
20
72.5%
Barclays (2.3%)
05
71.6%
JPMorgan (2.3%)
06
70.6%
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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