INVESTMENT BANKING DIVERSITY STATS - As of December, 2013
This employer diversity data is based solely on user submissions to the WSO Company Database for interviews and employment during 2011, 2012, 2013. Historical reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011
Racial Diversity
Firm
YoY Δ
Percentile
BB&T
10
98.5%
CIBC World Markets
37
97.0%
Goldman Sachs
02
95.5%
Wells Fargo and Company
02
93.9%
Guggenheim Partners
01
92.4%
RBS Royal Bank of Scotland
03
90.9%
Citigroup
09
89.4%
Centerview Partners
10
87.9%
JPMorgan Chase
01
86.4%
Piper Jaffray
09
84.8%
Moelis & Company
25
83.3%
Scotiabank
32
81.8%
Oppenheimer
05
80.3%
Duff & Phelps
02
78.8%
Raymond James Financial Inc.
08
77.3%
PNC Financial Services
10
75.8%
Harvey & Company
New
74.2%
Morgan Stanley
11
72.7%
Barclays
07
71.2%
Bank of America Merrill Lynch
No
69.7%
BMO Capital Markets
04
68.2%
Société Générale
13
66.7%
Mizuho
New
65.2%
RBC Royal Bank of Canada
14
63.6%
BNP Paribas
05
62.1%
HSBC
01
60.6%
Houlihan Lokey
03
59.1%
Deutsche Bank
No
57.6%
Credit Agricole
14
56.1%
Nomura Holdings
25
54.5%
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
Cowen Group (21.9%)
New
98.3%
Stout Risius Ross (17.3%)
New
96.6%
Raymond James Financial Inc. (16.5%)
06
94.8%
Tudor Pickering Holt and Co (15.9%)
New
93.1%
UBS AG (15.4%)
04
91.4%
RBS Royal Bank of Scotland (15.1%)
No
89.7%
Greenhill (13.8%)
New
87.9%
Credit Suisse (12.1%)
11
86.2%
BB&T (11.5%)
09
84.5%
Bank of America Merrill Lynch (11.3%)
01
82.8%
Piper Jaffray (10.5%)
19
81.0%
Morgan Stanley (10.4%)
04
79.3%
William Blair (10.4%)
09
77.6%
HSBC (10.3%)
13
75.9%
Société Générale (10.3%)
09
74.1%
Deutsche Bank (10.2%)
04
72.4%
Macquarie Group Limited ABN (9.9%)
10
70.7%
Citigroup (9.8%)
06
69.0%
Nomura Holdings (9.6%)
16
67.2%
Robert W. Baird & Co. (9.5%)
10
65.5%
Lazard Middle Market (9.0%)
04
63.8%
Gleacher (8.9%)
New
62.1%
Scotiabank (8.5%)
07
60.3%
Barclays (8.5%)
09
58.6%
JPMorgan Chase (8.2%)
08
56.9%
RBC Royal Bank of Canada (8.1%)
05
55.2%
CIBC World Markets (8.1%)
25
53.4%
BMO Capital Markets (7.9%)
23
51.7%
Goldman Sachs (7.8%)
06
50.0%
Rabobank Group (7.1%)
New
48.3%
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
Edward Jones (36.1%)
New
98.5%
Public Financial Management (34.5%)
New
97.0%
Cowen Group (32.6%)
New
95.5%
JMP Group (31.9%)
New
93.9%
Greenhill (22.4%)
New
92.4%
Duff & Phelps (21.3%)
02
90.9%
Piper Jaffray (21.1%)
27
89.4%
Robert W. Baird & Co. (20.9%)
06
87.9%
Moelis & Company (20.2%)
05
86.4%
RBC Capital Markets (19.8%)
25
84.8%
Centerview Partners (19.8%)
New
83.3%
Nomura Holdings (18.9%)
11
81.8%
Sagent Advisors (18.5%)
03
80.3%
Jefferies & Company (18.4%)
11
78.8%
KeyBanc Capital Markets (18.3%)
06
77.3%
Harris Williams & Co. (18.3%)
26
75.8%
Credit Agricole (18.0%)
19
74.2%
Harvey & Company (17.5%)
New
72.7%
Guggenheim Partners (17.1%)
05
71.2%
Bank of America Merrill Lynch (16.3%)
09
69.7%
Wells Fargo and Company (16.1%)
15
68.2%
Macquarie Group Limited ABN (16.1%)
05
66.7%
BNP Paribas (15.4%)
No
65.2%
Deutsche Bank (15.0%)
17
63.6%
Stephens Inc (15.0%)
New
62.1%
Evercore (14.7%)
06
60.6%
RBC Royal Bank of Canada (14.6%)
No
59.1%
SunTrust Robinson Humphrey STRH (14.5%)
09
57.6%
Barclays (14.0%)
07
56.1%
RBS Royal Bank of Scotland (13.6%)
17
54.5%
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
Edward Jones (23.6%)
New
98.5%
Commerzbank AG (11.9%)
New
97.0%
Public Financial Management (8.5%)
New
95.5%
RBC Capital Markets (7.8%)
16
93.9%
HSBC (6.0%)
03
92.4%
Canaccord Financial (5.7%)
New
90.9%
Moelis & Company (4.6%)
06
89.4%
Goldman Sachs (4.4%)
04
87.9%
BB&T (4.1%)
06
86.4%
Deutsche Bank (3.5%)
01
84.8%
Perella Weinberg Partners (3.3%)
14
83.3%
Rothschild (3.3%)
01
81.8%
PNC Financial Services (3.1%)
08
80.3%
Bank of America Merrill Lynch (3.0%)
01
78.8%
Jefferies & Company (2.9%)
08
77.3%
Guggenheim Partners (2.8%)
13
75.8%
JPMorgan Chase (2.6%)
11
74.2%
CIBC World Markets (2.2%)
09
72.7%
Macquarie Group Limited ABN (2.1%)
22
71.2%
Barclays (2.1%)
05
69.7%
Lazard Middle Market (2.0%)
21
68.2%
Citigroup (1.8%)
06
66.7%
Raymond James Financial Inc. (1.7%)
16
65.2%
UBS AG (1.3%)
07
63.6%
Nomura Holdings (1.3%)
15
62.1%
Credit Suisse (1.2%)
12
60.6%
RBC Royal Bank of Canada (1.1%)
15
59.1%
BNP Paribas (1.1%)
12
57.6%
Morgan Stanley (0.7%)
11
56.1%
Wells Fargo and Company (0.5%)
15
54.5%
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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