Best Investment Banks To Work For In 2026

Investment banking is boring.

And that’s a good thing.

It is an industry that prizes consistency and stability and rules and transparency. Here, reputation is currency. And there is little appetite for upstarts disrupting the status quo.

Hence, you’ll find the ranking that assesses investment banks – the Vault Banking 25 – doesn’t change all that much. That said, this year’s ranking – which was unveiled on June 24th – includes some intriguing differences. That’s because Vault doesn’t just measure entrenched attitudes toward the top banks’ reputations. It also taps into bankers’ opinions on how their employers are truly performing.

BIG WINNERS: CENTERVIEW PARTNERS & GOLDMAN SACHS

Seven is a lucky number. Just ask Centerview Partners, which claimed the #1 spot in the Vault Banking 25 for the seventh consecutive year. Posting a 9.131 index score on a 10-point scale, Centerview Partners boosted its score for the third straight year. It also further distanced itself from runner-up Evercore, which has clung to the #2 spot since 2018. Moelis & Company rounds out the Top 3 for the sixth year, making it the newcomer to the top of the list.

Beyond the Top 3, you’ll find plenty of movement in the Vault Banking 25, including unexpected surges from Morgan Stanley and William Blair and a jaw-dropping debut from Clearsight Advisors.

The Vault Banking 25, which covers North America, also maintains a separate ranking for Prestige, which feeds into the larger ranking. Here, Goldman Sachs continues to reign at #1 – a spot it has held since the Vault began tracking Prestige in 2007. True to form, Centerview Partners and Evercore hold the 2nd and 3rd spots respectively in Prestige for the second year in a row.

PRESTIGE, CULTURE & COMPENSATION DRIVE THE RANKING

The Banking 25 is a product of Vault, a market intelligence firm that collects company data and employee reviews to produce industry rankings, employer profiles, and career guides across areas like consulting, banking, and law. In addition, Vault maintains over a dozen blogs, covering areas ranging from graduate school to job hunting.

The Vault Banking 25 Ranking is based on a survey conducted this past spring with roughly 2,100 banking professionals – down from the 2,800 respondents who participated in last year’s survey. The survey was divided into two parts, each applying a 10-point scale where 10 was the highest score. In the first survey, respondents evaluated their employers across 20 work-life and diversity dimensions (with the latter not factored into the ranking methodology). In the second survey, survey-takers rated the Prestige of competing banks, providing a street-side view of these institutions.

Like previous years, the Vault Banking 25 maintains the same methodology, enabling readers to compare institutions head-to-head against previous years. Prestige accounts for the highest weight at 40%. Firm Culture makes up a 20% share of the ranking, followed by Compensation (10%), Business Outlook (10%), Overall Satisfaction (10%), Work-Life Balance (5%), and Training (5%).

These weights also align, to a point, with Vault’s research into what mattered most to survey respondents in 2026. “For analysts, the top factor [for] choosing a firm is firm culture, followed by prestige and early responsibility,” according to a Vault statement. “For associates, the top factor is compensation, followed by firm culture and prestige. For senior bankers, firm culture is the top factor, with compensation and type of work at second and third, respectively.”

CENTERVIEW PARTNERS RANKS #1 IN NEARLY EVERY MEASURE

What sets Centerview Partners apart? It certainly isn’t size, with the firm being home to roughly 700 professionals. Focused on M&A advisory and based in New York City and Menlo Park, Centerview Partners has advised on some of the largest and most complex deals, including Paramount’s pending $110-billion acquisition of Warner Bros Discovery.

“Centerview is a lead advisor on many headline-making deals, yet is much smaller than the bulge bracket banks,” explains Vault General Manager Eric Stutzke in a press release. “[This] means it can provide its employees with a lot of benefits that many larger banks typically can’t, such as early responsibility, exposure to senior bankers, and a close-knit culture.”

Employees say the firm delivers. In the latest survey, respondents gave Centerview Partners the highest scores of any firm across 15 of 16 areas:

• Benefits
• Business Outlook
• Client Interaction
• Compensation
• Culture
• Firm Leadership
• Formal Training
• Hiring Process
• Hours
• Informal Training
• Promotion Policies
• Quality of Work
• Relationships with Managers
• Satisfaction
• Work-Life Balance

What was the only quality of work and life area where Centerview Partners fell short of the top spot? Think International Opportunities, where it still chalked up a respectable 4th-place. In other words, the firm achieved the highest score among its peers in dimensions worth 60% of the Vault Banking 25 weight. On top of that, it ranked 2nd in Prestige, which accounted for the remaining 40%. In other words, it was a mathematical impossibility to dislodge Centerview Partners from its perch in 2026.

THE CENTERVIEW DIFFERENCE: TRAINING, CULTURE, AND PAY

One area where Centerview Partners thrive, according to Vault surveys, is its apprenticeship model.

“Centerview operates lean deal teams, and by virtue of the small size of the firm (and the quality of the partners), you are guaranteed to be working with the best in the industry on some of the most complex, interesting, and sector-transforming assignments,” writes one survey-taker. “Junior bankers are given significant room to ‘play up’—taking on more responsibilities than bankers many years/levels above are generally tasked with. While this can be challenging, it is rewarding and ensures that Centerview bankers develop a well-rounded skillset well ahead of the curve.”

At the same time, the firm maintains a formal, ongoing training program taught by its leaders that covers every step of the firm’s career arc.

“The analyst training program is very robust and all managed in-house,” adds another respondent. “This is the only firm I’ve worked for with formal training beyond the analyst program—upon promotion from associate to principal, the firm hosted a full-day offsite to go over training for the new role, which also included the opportunity to socialize with other first-year principals across the global offices.”

Culture is another crucial part of Centerview Partners, as cited by Vault survey respondents. One employee frames it as a “culture of recharging the battery when you can.” Another chimes in that their peers aren’t “cutthroat” and everyone is “treated with deep kindness and respect.” More than that, adds another respondent, the Centerview Partners team simply outperforms its peers thanks to its business model and its people.

“We focus on working with the most important companies on their most important issues, and this skillset is increasingly sought after. Centerview wins by providing advice that is more tailored and, hands down, better than that of our competition. We must keep that edge in place—assuming we do, the future here remains very bright indeed.”

And the pay isn’t bad, with one respondent clicking off all the perks. “Top of Street all-cash comp. Additional bonus and sabbatical offered to analysts who stay on as associates. Great general perks and policies here. Very high dinner stipend compared to all other banks, free gym in office, no ‘after 8 p.m.’ rule for calling Ubers home. Since seniors want you to stay long term, people are generally more accommodating of plans and such (especially on the weekends) versus other firms.”

EVERCORE: ‘A STRONG CULTURE OF ACCOUNTABILITY & GROWTH’

Evercore finished 2nd in four areas (Business Outlook, Firm Leadership, Formal Training, and Hiring Process) and 3rd in six more (Compensation, Informal Training, Promotion Policies, Quality of Work, Relationships with Managers, and Satisfaction). Add to that, Evercore produced the 3rd-highest score for Prestige and ranked 1st in both LGBTQ+ and Overall Inclusion (and 2nd for Women and People of Color).

Employing 2,700 professionals across 16 countries, the 30-year-old firm has been involved in transactions involving over $5-trillion. Like Centerview Partners, Evercore boasts an apprenticeship culture that underpins its success according to one Vault survey respondent.

“Senior bankers and direct supervisors are highly accessible and genuinely invested in junior development. Feedback is frequent, constructive, and performance-driven, which creates a strong culture of accountability and growth. Despite the demanding nature of investment banking, teams are collaborative and supportive, and staffing is managed thoughtfully to balance workload across groups.”

Another survey-taker shares similar experiences at Evercore. “The firm provides exceptional hands-on responsibility early on, with meaningful exposure to senior bankers and clients from day one. Advancement is merit-based and transparent, and strong performers are consistently recognized and rewarded. The quality of mentorship is outstanding, with senior professionals invested in developing junior talent and providing regular, actionable feedback. The firm also offers broad exposure across industries and geographies, creating real opportunities for both professional growth and international experience.”

‘THE DE FACTO INDEPENDENT BANKING LEADER’

Survey feedback also aligns with Evercore’s reputation for being at the forefront of diversity measures. “The firm has made meaningful and sustained efforts to foster an inclusive culture across gender, race, ethnicity, and the LGBTQ+ community,” continues another survey participant. “Leadership is visibly committed to diversity, and inclusion is embedded in recruiting, mentorship, promotion, and day-to-day team dynamics. There are active employee resource groups, formal mentorship and sponsorship initiatives, and consistent programming that supports professional development for historically underrepresented groups.”

As a whole, employees remain bullish on Evercore’s long-term prospects, with one respondent framing the firm as the “de facto independent banking leader.” Another describes the firm as “stable and well-positioned” for the near future.

“Leadership has a clear direction, and there is confidence in how the business is being managed. Morale is mostly positive. The main challenge will be balancing growth and workload while maintaining the current culture.”

Next Page: A look at Moelis & Company and the future of banking.

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