Best investment banks to join in '23

[magellan1]

Many young people who want to pursue a career in investment banking don’t know the differences between investment banks and simply apply to all banks to increase their chances of securing an internship or job. However, it is crucial to take into consideration the culture and the performance of the company before joining it to maximize your growth opportunities and reduce the likelihood of becoming unemployed after a short period (e.g, by joining Credit Suisse in 2022 or Deutsche Bank in 2023). The rankings in this post can help you make a more informed decision when it comes to deciding on which bank to join. Certainly, you should also take into account other important factors like location, product and the team.

Ranking of investment banks based on market share
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Rank​	Bank​	Fees ($m), 2022​
1​	JP Morgan​	6,922.26​
2​	Goldman Sachs & Co​	6,503.71​
3​	BofA Securities Inc​	5,515.92​
4​	Morgan Stanley​	4,610.54​
5​	Citi​	3,960.06​
6​	Barclays​	2,831.05​
7​	Credit Suisse​	2,227.31​
8​	Wells Fargo & Co​	2,031.59​
9​	CITIC​	1,900.38​
10​	RBC Capital Markets​	1,728.88​
​	Total​	108,356.74​

Ranking of investment banks based on 5-year revenue growth
​

Rank​	Bank​	Annual growth rate​
1​	CITIC​	14.97%​
2​	Goldman Sachs & Co​	9.58%​
3​	RBC Capital Markets​	8.67%​
4​	Morgan Stanley​	8.60%​
5​	JP Morgan​	7.73%​
6​	Barclays​	6.98%​
7​	BofA Securities Inc​	4.74%​
8​	Citi​	3.86%​
9​	Wells Fargo & Co​	-1.72%​
10​	Credit Suisse​	-6.40%​

​

Data source: FT.com

It is clear that big US banks like JP Morgan and Goldman Sachs dominate the investment banking industry. China International Trust Investment Corporation is the fastest-growing big bank in the world. This shouldn’t surprise us too much given the growing importance of China in the world. Credit Suisse and Wells Fargo are the big losers and should be (have been) avoided. Citibank also doesn’t seem to be in a very strong position.

I hope that you find these rankings useful.​

 

[JustAnotherHuman1]

Thanks for sharing, some industry teams are definitely better than others. For instance, DB and Citi had been traditionally strong in FX trading, not so much in banking. Should one be lucky enough to have multiple offers, it pays off to make an informed decision as to which one to pick and not simply go by gut feeling, the brand name of the institution or simply where does one know more colleagues. There is another post on this forum called “I want to work for bank of Morgan Sachs capital” which points out cultural fit as the main reason to choose one employer over the other, which is also a factor when it comes to choosing, should one have this luxury.

That being said, a graduate job offer at the bottom of the bulge bracket is probably still better than a no-name boutique.

 

[AugustusSeptimius1]

Thanks for sharing, some industry teams are definitely better than others. For instance, DB and Citi had been traditionally strong in FX trading, not so much in banking. Should one be lucky enough to have multiple offers, it pays off to make an informed decision as to which one to pick and not simply go by gut feeling, the brand name of the institution or simply where does one know more colleagues. There is another post on this forum called “I want to work for bank of Morgan Sachs capital” which points out cultural fit as the main reason to choose one employer over the other, which is also a factor when it comes to choosing, should one have this luxury.

That being said, a graduate job offer at the bottom of the bulge bracket is probably still better than a no-name boutique.

Yeah great points. That other post is also really informative so good allusion. Curious, do you feel current rankings of market share and growth rate are that important as employers might simply choose employees based on their working at a “big-name” IB?

 

[magellan1]

Yeah great points. That other post is also really informative so good allusion. Curious, do you feel current rankings of market share and growth rate are that important as employers might simply choose employees based on their working at a “big-name” IB?

Market shares and growth rates are important for your career prospects. If you join a bank that is stagnating you are likely to stay longer in the same position (e.g. Analyst, Associate, etc) and receive a smaller bonus. Prestige is an important factor in high finance and working for RBC is not the same as working for Goldman Sachs even if the position is the same. The competition for roles in private equity/VC/hedge funds is extremely high and buy-side firms prefer to hire people who have worked at top banks like JP Morgan and Goldman Sachs.