The Best Investment Banks for Prestige and Leadership
Few people join Wall Street to feed the poor and cure the sick. Sure, many pursue higher callings after earning a few million. Initially, they become associates and analysts dreaming of dollars…and everything that comes with them (power, respect, and cool toys to name a few).
As you learn the ropes, prestige becomes increasingly significant. Ultimately, your firm’s reputation is your reputation. Good or bad, it will follow you around for life. Just imagine if your employer ends up on the wrong side of the Justice Department, where even The Wall Street Journal condemns their actions. Now, picture your next job interview. Think your prospective boss is wondering, “Was he part of it?” “Did he just follow orders and look away?” “Can we risk the uncertainty?” Consider the alternative, where your firm sustains a pristine reputation. Think they won’t give you the benefit of the doubt, associating you with the firm’s connections and best practices.
Yes, the best firms always attract the most exciting deals. And that’s by design. The Goldman Sachses and Blackstones carry a reputation for excellence, fairness, and results. They attract the best talent. They provide expertise in the most areas. They maintain the largest networks. And they’ve established a structure and culture that can withstand any downturn. That gives them prestige. And companies and investors always want to partner with those who make them look good by association.
If you want to work for the most prestigious firms, you should start with Blackstone Group, Evercore, Goldman Sachses, and Harris Williams & Company. That was the finding of a survey conducted by Wall Street Oasis. Recently, the publisher released its top 15 investment rankings for employee pride. The ranking, which is based on percentiles, is derived from a five-point scale. Here, Wall Street Oasis members were asked how proud they were to work at their firm and the degree to which they would recommend it to others. In the past, firms like Blackstone, Evercore, Houlihan Lokey, Harris Williams & Company, and Piper Jaffray scored the highest in terms of professional growth and career advancement and coaching, recognition, and fairness. Most recently, Blackstone and Evercore ranked #1 and #2 respectively for base and bonus pay.
When it comes to pride, Blackstone again tops the list, scoring 99.5% above the percentile. In this case, Goldman Sachs edged out Evercore by 0.1% points (99.6% vs. 99.5%). Harris Williams & Company and Rothschild rounded out the top five, with JPMorgan Chase and Morgan Stanley just a shade below Rothschild. Surprisingly, Piper Jaffray and Houlihan Lokey, perennial high performers in previous rankings, failed to crack the top 15.
However, the rankings flip-flopped when employees were asked how strongly they would recommend their employers. Here, Evercore claimed the #1 spot at 99.9% above the percentile. They were followed by Blackstone (99.8%), Harris Williams & Company (99.4%), Goldman Sachs (98.3%), and William Blair (98.2%). Overall, employees who felt the greatest pride towards their employer also leaned towards highly recommending it to others, though a few top firms, such as Lazard and Rothschild, were slightly less likely to be recommended. Here are Wall Street Oasis’ overall rankings for prestige:
Source: Wall Street Oasis
Continue to the next page for the best firms for senior leadership.
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