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Every year, Vault surveys thousands of banking professionals and asks them to rate their firm based on areas such as culture, compensation, training, quality of life, and more. This survey is used to create the annual Vault Banking Rankings, which includes the Vault Banking 25. This ranking is the overall ranking of the best investment banking firms in the U.S. Here's what insiders say about the top five on this year's Vault Banking 25.
#1 Centerview Partners
Centerview takes the top spot on the Vault Banking 25. The firm’s workplace culture is one reason for this high rating, with one employee saying, "There is no better culture on the Street, and the people are truly amazing—supportive, caring, intellectual, and hardworking." Another banker at the firm also praises the culture by saying, “People are not cutthroat or out to get you, and everyone respects that you are your own person. Hours are certainly long, but you are treated with deep kindness and respect."
Other bankers highlight the firm’s training and mentorship by saying, "The core of training is through a mentorship/apprenticeship model. Junior bankers are given significant room to 'play up'—taking on more responsibilities than bankers many years above are generally tasked with. It is rewarding and ensures that Centerview bankers develop a well-rounded skillset well ahead of the curve."
These comments from current bankers help give an insight into the supportive culture and training provided at the firm.
#2 Evercore
Evercore comes in at No. 2, with insiders commenting, "The people at Evercore are amazing—smart and hardworking but also nice and caring."
Career development also contributes to this high ranking, with employees saying that "Senior bankers and direct supervisors are highly accessible and genuinely invested in junior development. Feedback is frequent, constructive, and performance-driven, which creates a strong culture of accountability and growth."
Bankers are also satisfied with the quality of work and say they were “staffed on live deals and gained exposure to the types of tasks I would have as a full-time analyst. This was intense and stressful but prepared me for the intensity on the desk."
#3 Moelis & Company
Moelis puts junior bankers directly alongside experienced senior advisors on high-profile transactions. One employee says, “The best aspect of working here is the amount of exposure and responsibility junior team members receive early on. There is a strong learning environment, with the chance to work closely with experienced senior professionals and gain meaningful experience across a variety of situations."
The firm has “a protected time-off policy that gives protected weekends and benefits that support mental health and other wellness initiatives." This is a benefit not seen at every investment banking firm. It also aligns with employee comments praising the “entrepreneurial and meritocratic environment."
#4 Morgan Stanley
Morgan Stanley is praised for their workplace culture. In an industry that is known for having long hours, one employee says, "An incredible culture is the firm's secret sauce and its differentiating strength. The challenge with quality of life across the industry is the number of hours—same for any firm—but Morgan Stanley's investment in its people is real."
Additionally, flexibility and protected time off helps build this exceptional culture, with bankers mentioning the firm has “protected Friday evenings through Sunday mornings, except in exceptional circumstances. Reasonable deadlines with plenty of advanced notice allows for flexibility regarding when certain work gets done."
Firm management is also highlighted as a plus at the firm, with bankers saying, "The direct management I've had at Morgan Stanley has been second-to-none—extremely supportive in my growth, open to new ideas, and leading by example."
#5 Lazard
Lazard is a strong choice for those who want prestige without sacrificing culture. Current bankers say the firm is a "highly prestigious bank that also has a small feel to it that makes it a very unique place to work."
This small feel also helps Lazard have a great workplace culture, with bankers saying, "Lazard maintains a strong and supportive culture with a genuine emphasis on work-life balance. Senior leadership actively encourages bankers to take time off, and colleagues step in to provide coverage when individuals are away."
Additionally, the quality of projects keep employees satisfied. Early in your career, you get "exposure to complex, high-profile transactions and senior bankers”
To hear from more bankers at Top 25 firms, check out the Vault Banking Rankings.
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