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Today, we’re excited to release our 2026 Banking 25, a ranking of the best investment banking firms to work for in North America. The ranking is based on a survey of thousands of banking professionals who were asked to rate their firms in several workplace categories, including benefits, compensation, culture, hours, training, and work-life balance. They were also asked to rate firms other than their own in terms of prestige.
The 10 Best Investment Banking Firms to Work For in 2026 Based on Vault’s Annual Banking Survey Are:
2. Evercore
5. Lazard
6. PJT Partners
No. 1 Centerview “invests heavily in the career development of their bankers”
Centerview ranks No. 1 overall for the seventh straight year, again earning the label of “Best Investment Banking Firm to Work For.” In addition to ranking No. 1 in the Banking 25, Centerview takes the No. 1 spot in 15 Quality of Life Rankings: 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, and Work/Life Balance. The firm also holds steady at the No. 2 spot in our Prestige Rankings.
Centerview’s professionals tell us “there is no better culture on the Street and the people at the firm are truly amazing—supportive, caring, intellectual, and hardworking.” In addition, they say the firm “invests heavily in the career development of their bankers” and you get “early exposure to high-profile clients and transactions,” which makes for a “good foundation for analysts." And, as a bank long known for its excellent pay, Centerview offers “top of the Street compensation—higher than all banks and almost all buyside opportunities,” say insiders.
No. 2 Evercore “provides exceptional hands-on responsibility early on”
Evercore holds steady at No. 2 overall and rises one place to rank No. 3 in Prestige. Meanwhile, the firm ranks No. 1 in both Overall Inclusion and LGBTQ+ Inclusion; No. 2 in Business Outlook, Firm Leadership, Formal Training, and Hiring Process; and No. 3 in Compensation, Promotion Policies, Quality of Work, Relationships with Managers, and Satisfaction. Evercore insiders tell us that the best aspects of working for the firm include “the live deal exposure, responsibility early on, learning opportunities, and amazing clients.” Indeed, the firm “provides exceptional hands-on responsibility early on, with meaningful exposure to senior bankers and clients from day one.”
In addition, insiders tell us “the people at Evercore are amazing—they are smart and hardworking but also nice and caring.” Evercore bankers also say “base salaries are strong relative to the market, and bonuses meaningfully reward individual contribution as well as overall firm results.”
No. 3 Moelis has a “collaborative, entrepreneurial, meritocratic environment”
Moelis again ranks No. 3. overall, while also ranking No. 9 in Prestige. In addition, Moelis impressively ranks No. 2 or No. 3 in every one of our Quality Life Rankings. It also ranks No. 2 in LGBTQ Inclusion and No. 3 in Best Banking Firms for People of Color. Moelis insiders say the best aspects of working for the firm include “the collaborative, entrepreneurial, and meritocratic environment”; “great deal flow, early responsibility, opportunities to grow”; and “attractive compensation.” In addition, there is a “strong apprenticeship model" at the firm, allowing junior bankers to “learn directly from senior team members, which accelerates technical and client-development skills.”
No. 4 Morgan Stanley offers “strong informal mentorship, access to interesting work, and great internal mobility”
Morgan Stanley leaps three places to rank No. 4 overall this year, up from No. 7 last year. The firm also ranks No. 5 in Prestige as well as No. 5 in Firm Leadership. Morgan Stanley insiders tell us that the firm’s culture is “collaborative and collegial” and “the people are “smart and hardworking.” In addition, insiders rave about the “early responsibility, access to mentorship, and deal exposure,” as well as the “strong informal mentoring, access to interesting work, and great internal mobility.” They also say they benefit greatly from the “prestige and brand name” of this “large institution.”
No. 5 Lazard offers “exposure to complex, high profile transactions, and senior bankers early in your career”
Lazard rises one spot to take the No. 5 ranking in the Vault 25, up from No. 6 last year. In addition, the firm yet again ranks No. 1 in International Opportunities, while ranking No. 3 in Benefits, No. 4 in Promotion Policies, and No. 5 in Quality of Work, Relationships with Managers, and Satisfaction. According to Lazard insiders, the best aspects of working for the firm include the “incredibly smart colleagues,” “collaborative culture,” “mentorship opportunities,” and “exposure to complex, high profile transactions, and senior bankers early in your career.”
Clearsight, Loop Capital, and Goldman also earn No. 1s
In our Inclusion Rankings, Clearsight Advisors (new to our survey and rankings this year) takes the No. 1 spot in Best Banking Firms for Women, while Loop Capital takes the No. 1 spot in Best Banking Firms for People of Color. And in our Prestige Rankings, Goldman Sachs holds onto its No. 1 ranking.
Our new banking company profiles include many more direct quotes from banking professionals—about hours, work/life balance, overall satisfaction, compensation, benefits, training, inclusion, business outlook, and more.
View the entire 2026 Vault Banking Rankings.
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