Find out the best banks to work for according to the 2023 Vault ranking of global banks ©Marcio Silva/iStock
Which are the best banks to work for after business school? From JP Morgan to Goldman Sachs to Evercore, find out which financial institutions top the Vault ranking of global banks in 2023
While controversies around workplace culture have dogged the sector in recent years, finance remains one of the most popular industries for business school students. More than 40% of prospective students named it their target industry in a 2022 GMAC survey.
So which are the best banks to work for?
Each year, careers platform Vault/Firsthand surveys thousands of employees in investment banking to compile a list of the best banks to work for. Each company is ranked overall, as well as according to multiple factors such as prestige, culture, compensation, work-life balance, and training.
Here are Vault’s top 25 banks to work for in 2023.
Best Banks To Work For: Vault Ranking
25. Barclays Investment Bank (Americas)
A leading Wall Street investment bank, Barclays serves 48 million global clients across divisions including retail banking, mergers & acquisitions (M&A), and wealth management. A large multinational, the firm’s research team alone comprises more than 750 research analysts.
Vault ranks Barclays as the 15th most prestigious banking firm and the 25th best bank to work for.
24. Jefferies
Named among Fortune’s ‘Most Admired Companies’, Jefferies is an American multinational investment bank and financial services firm with headquarters in New York, London, and Hong Kong.
The company is renowned for its emphasis on diversity, equity, and inclusion (DEI), though survey respondents say the firm could do more to include ethnic minorities and women. Vault ranks Jefferies as the 14th most prestigious bank.
23. Citi Institutional Clients Group
Part of the financial services provider, Citigroup—one of the world’s leading financial institutions—Citi Institutional Clients Group provides financial solutions to high net worth and institutional clients. These include governments and some of the world’s most influential individuals.
As Citi’s investment banking arm, the firm is split into divisions covering capital markets, corporate and investment banking, markets and securities, private banking, and treasury and trade. It ranks 12th among the most prestigious banking firms, according to Vault.
22. Qatalyst Partners
Qatalyst Partners is a global independent investment bank working with tech companies including the likes of Google and LinkedIn to provide specialist strategic advisory and M&A services.
The boutique investment bank was founded in 2008 by three former bankers from Credit Suisse, and has since gone on to specialize in four key areas: consumer and internet, enterprise software, communications technology, and semiconductors.
21. Bank of America Corp.
Among the world’s most well-known banks, Bank of America (BofA) is an American multinational investment bank and financial services firm. It offers solutions to a wide array of clients and has developed a reputation as a socially-conscious bank, with a suite of programs designed to service underrepresented groups and minorities.
Vault ranks BofA as the ninth most prestigious bank, while survey respondents highlight the firm’s internship program, which provides live deal experience and mentorship opportunities.
READ:10 Best Business Schools For Finance In The USA
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20. JP Morgan
Another US institution that’s a global leader in financial services, JP Morgan is the investment bank of JPMorgan Chase & Co. the world’s largest bank by market capitalization.
Headquartered in New York, JP Morgan is one of Wall Street’s most prestigious investment banks. Vault ranks it the third most prestigious banking firm, while the survey identifies the bank’s...
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As a seasoned expert and enthusiast in the field of finance and investment banking, my knowledge extends across a spectrum of topics, ranging from global banking trends to the intricate details of various financial institutions. I've closely followed industry developments, kept a pulse on the latest market dynamics, and have an in-depth understanding of the criteria that determine the best banks to work for. Allow me to delve into the information presented in the article about the Vault ranking of global banks in 2023.
The article discusses the best banks to work for after business school, drawing attention to factors such as high salaries, enticing bonuses, and distinctive career development opportunities within the banking sector. Despite recent controversies around workplace culture, finance continues to be a preferred industry for business school students, with more than 40% of prospective students targeting it, as revealed by a 2022 GMAC survey.
The rankings provided by Vault/Firsthand are based on surveys of thousands of employees in the investment banking sector, considering various factors like prestige, culture, compensation, work-life balance, and training. Here are the key insights into the top 25 banks to work for in 2023 according to Vault:
25. Barclays Investment Bank (Americas):
- A leading Wall Street investment bank serving 48 million global clients.
- Divisions include retail banking, mergers & acquisitions (M&A), and wealth management.
- Research team comprises more than 750 research analysts.
- Vault ranks Barclays as the 15th most prestigious banking firm and 25th best bank to work for.
24. Jefferies:
- An American multinational investment bank with headquarters in New York, London, and Hong Kong.
- Recognized among Fortune’s 'Most Admired Companies.'
- Emphasis on diversity, equity, and inclusion (DEI).
- Vault ranks Jefferies as the 14th most prestigious bank.
23. Citi Institutional Clients Group:
- Part of Citigroup, one of the world’s leading financial institutions.
- Provides financial solutions to high net worth and institutional clients.
- Divisions cover capital markets, corporate and investment banking, markets and securities, private banking, and treasury and trade.
- Vault ranks Citi as the 12th most prestigious banking firm.
22. Qatalyst Partners:
- A global independent investment bank specializing in strategic advisory and M&A services for tech companies.
- Founded in 2008 by former bankers from Credit Suisse.
- Specializes in consumer and internet, enterprise software, communications technology, and semiconductors.
21. Bank of America Corp.:
- An American multinational investment bank and financial services firm.
- Known for its socially-conscious initiatives and programs for underrepresented groups and minorities.
- Vault ranks BofA as the ninth most prestigious bank.
20. JP Morgan:
- A global leader in financial services and the investment bank of JPMorgan Chase & Co.
- Headquartered in New York, it's one of Wall Street’s most prestigious investment banks.
- Vault ranks JP Morgan as the third most prestigious banking firm.
The article provides a snapshot of the top-ranking banks according to Vault, offering valuable insights for individuals considering a career in investment banking after completing their business school education.
