INVESTMENT BANKING DIVERSITY STATS - As of December, 2012
This employer diversity data is based solely on user submissions to the WSO Company Database for interviews and employment during 2010, 2011, 2012. Historical reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011
Racial Diversity
Firm
YoY Δ
Percentile
Goldman Sachs
02
97.8%
Wells Fargo and Company
07
95.7%
RBS Royal Bank of Scotland
21
93.5%
Guggenheim Partners
06
91.3%
Nomura Holdings
No
89.1%
PNC Financial Services
21
87.0%
Morgan Stanley
06
84.8%
Oppenheimer
05
82.6%
Société Générale
New
80.4%
JPMorgan Chase
03
78.3%
BB&T
New
76.1%
Duff & Phelps
10
73.9%
Macquarie Group Limited ABN
09
71.7%
William Blair
New
69.6%
Credit Agricole
New
67.4%
Citigroup
04
65.2%
RBC Capital Markets
New
63.0%
Centerview Partners
New
60.9%
Piper Jaffray
New
58.7%
Bank of America Merrill Lynch
06
56.5%
Blackstone Group
New
54.3%
UBS AG
14
52.2%
Raymond James Financial Inc.
08
50.0%
Houlihan Lokey
06
47.8%
BMO Capital Markets
19
45.7%
Barclays
15
43.5%
HSBC
12
41.3%
Deutsche Bank
12
39.1%
Harris Williams & Co.
10
37.0%
BNP Paribas
13
34.8%
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 AG (14.9%)
01
97.8%
CIBC World Markets (14.5%)
11
95.7%
Nomura Holdings (13.8%)
14
93.5%
William Blair (12.1%)
New
91.3%
BMO Capital Markets (11.8%)
06
89.1%
RBS Royal Bank of Scotland (11.3%)
No
87.0%
Macquarie Group Limited ABN (10.9%)
06
84.8%
Morgan Stanley (10.4%)
05
82.6%
Raymond James Financial Inc. (10.1%)
09
80.4%
Robert W. Baird & Co. (9.4%)
New
78.3%
Bank of America Merrill Lynch (8.9%)
05
76.1%
Citigroup (8.9%)
03
73.9%
Lincoln International (8.8%)
New
71.7%
BNP Paribas (8.3%)
10
69.6%
Barclays (8.2%)
06
67.4%
Scotiabank (7.9%)
New
65.2%
JPMorgan Chase (7.9%)
12
63.0%
BB&T (7.6%)
New
60.9%
Credit Suisse (7.0%)
07
58.7%
Deutsche Bank (6.8%)
06
56.5%
RBC Royal Bank of Canada (6.8%)
13
54.3%
Guggenheim Partners (6.2%)
New
52.2%
Goldman Sachs (6.2%)
03
50.0%
Société Générale (5.6%)
01
47.8%
Lazard Middle Market (5.5%)
03
45.7%
PNC Financial Services (4.6%)
06
43.5%
HSBC (3.7%)
20
41.3%
Harris Williams & Co. (3.5%)
02
39.1%
Wells Fargo and Company (3.4%)
06
37.0%
Piper Jaffray (3.3%)
New
34.8%
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
Nomura Holdings (24.6%)
03
97.8%
Robert W. Baird & Co. (24.5%)
New
95.6%
Jefferies & Company (22.2%)
19
93.3%
Moelis & Company (19.8%)
03
91.1%
BB&T (18.4%)
New
88.9%
Wells Fargo and Company (18.0%)
10
86.7%
Deutsche Bank (17.2%)
04
84.4%
Duff & Phelps (16.6%)
18
82.2%
KeyBanc Capital Markets (16.3%)
New
80.0%
Sagent Advisors (15.2%)
New
77.8%
Bank of America Merrill Lynch (15.0%)
03
75.6%
Perella Weinberg Partners (14.9%)
New
73.3%
RBS Royal Bank of Scotland (14.7%)
10
71.1%
Credit Suisse (14.5%)
02
68.9%
Stifel Nicolaus and Company, Inc (14.2%)
12
66.7%
UBS AG (14.0%)
06
64.4%
Macquarie Group Limited ABN (14.0%)
04
62.2%
Rothschild (13.8%)
01
60.0%
JPMorgan Chase (13.6%)
08
57.8%
Raymond James Financial Inc. (13.1%)
New
55.6%
Morgan Stanley (12.8%)
16
53.3%
Barclays (12.8%)
16
51.1%
BNP Paribas (12.5%)
04
48.9%
Guggenheim Partners (12.5%)
15
46.7%
Citigroup (12.1%)
05
44.4%
Goldman Sachs (11.9%)
12
42.2%
RBC Royal Bank of Canada (11.6%)
20
40.0%
BMO Capital Markets (11.6%)
10
37.8%
Houlihan Lokey (10.7%)
05
35.6%
Société Générale (9.7%)
New
33.3%
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
Moelis & Company (13.9%)
No
97.8%
HSBC (10.5%)
No
95.6%
BB&T (6.0%)
New
93.3%
Goldman Sachs (4.9%)
02
91.1%
PNC Financial Services (4.9%)
13
88.9%
JPMorgan Chase (4.2%)
01
86.7%
Jefferies & Company (4.0%)
06
84.4%
Harris Williams & Co. (3.8%)
04
82.2%
Deutsche Bank (3.4%)
No
80.0%
Nomura Holdings (3.1%)
07
77.8%
Rothschild (2.7%)
09
75.6%
RBC Royal Bank of Canada (2.3%)
07
73.3%
Bank of America Merrill Lynch (2.1%)
05
71.1%
Credit Suisse (1.5%)
07
68.9%
Barclays (1.2%)
14
66.7%
Citigroup (1.0%)
06
64.4%
UBS AG (0.7%)
13
62.2%
Morgan Stanley (0.5%)
07
60.0%
KeyBanc Capital Markets (0.1%)
New
57.8%
RBC Capital Markets (0.1%)
New
55.6%
Sagent Advisors (0.1%)
New
53.3%
Credit Agricole (0.1%)
New
51.1%
William Blair (0.1%)
New
48.9%
Scotiabank (0.1%)
New
46.7%
Perella Weinberg Partners (0.1%)
New
44.4%
Société Générale (0.1%)
New
42.2%
CIBC World Markets (0.1%)
New
40.0%
Robert W. Baird & Co. (0.1%)
New
37.8%
Guggenheim Partners (0.1%)
14
35.6%
Oppenheimer (0.1%)
14
33.3%
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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