Best investment banking jobs
For those considering their next career move in Investment Banking, NYC has always offered a wealth of choices.
Choosing a firm to work for in Manhattan may seem like a no-brainer: how can you go wrong with Goldman Sachs, Morgan Stanley or J.P. Morgan?
But there’s more than just the prestige of a brand name in picking an investment bank to work for. Ivy Exec has the scoop on which companies are the best to work for—and, more importantly, what current and former employees really think of these firms.
#1 – Goldman Sachs
The top investment bank on Wall Street, Goldman Sachs boasted excellent numbers in our ranking: 86% of employees are proud to have the company name on their resume and 80% would recommend the firm to a friend seeking a job. But be prepared to work hard for this golden opportunity: nearly 75% of employees at Goldman Sachs clock more than 60 hours a week with some 30% of employees putting in 70 hours or more per week. Employees were quick to tell Ivy Exec that work-life balance is a challenge.
“[You’re] working with dedicated and intelligent people who are committed to their role and [the] success of their team and career, ” a former vice president said. “Very poor work life balance. Good compensation.”
One employee acknowledged that the competition within the firm is heated but an essential part of learning to succeed in the industry: “It is very intense, but professional working here. [There are] very high expectations…and at times not much of [a] work/life balance. [But Goldman Sachs] prepares you well by providing a lot of training.”
#2 – Morgan Stanley
Coming in second on our Ivy Exec list of top large investment banks, Morgan Stanley also has a brand name worth bragging about: 84% of employees say they’re proud to have the company on their resume and 82% say they’d recommend the firm to a friend. But employees also offer a range of suggestions for where the firm can improve.
For one, several employees cite internal politics as governing the choices for promotions and advancement.
“Your bonuses are hardly based on performance but rather on how much you suck up to group [and] division heads, ” a former employee with the company told Ivy Exec.
Other employees echoed this sentiment and added that the company’s management culture and structure could be improved. But with the prestige of the Morgan Stanley name, even coping with long hours and internal politics might be worth it in the long run. As one former analyst put it: “To have the name Morgan Stanley on your resume will open doors. It’s worth a couple years of suffering with long hours and poor management.”
#1 – Evercore
With about 1, 000 employees, Evercore is a boutique investment bank with a global reach: from its headquarters in Midtown Manhattan to its 28 offices spanning 11 countries worldwide. Scoring a 4.1 out of 5 on our Ivy Exec prestige ranking, Evercore has the respect of those in the industry even if it does not have the mainstream fame of a Goldman Sachs.
Employees offered mixed reviews in their reports to Ivy Exec. Some noted concern that the company’s prized culture would deteriorate with its rapid growth.