Approximately 3,500 investment banking professionals took the annual Vault Banking Survey this past spring. During the survey, professionals were asked to rate investment banks on a scale of 1 to 10 based on prestige (they were unable to rate their own firm, and were asked only to rate firms with which they were familiar). And for the 13th straight year, banking professionals named Goldman Sachs the most prestigious bank in North America. Professionals also named Goldman No. 1 in Europe.
Survey respondents on both sides of the Atlantic almost uniformly admitted that while Goldman's prestige has taken a hit in recent years, the firm is still far and away the most prestigious investment bank on Wall Street. Indeed, even amidst controversy and tons of negative press, the firm continues to land the largest, most high profile deals, attracting the brightest and most ambitious job candidates. And although the Goldman name might not carry the same weight that it did prior to the 2008 financial crisis, no other bank on Wall Street is even close when it comes to worldwide brand recognition. And bankers at Goldman’s competitors still concede that it's the most formidable investment banking franchise, calling Goldman Sachs "the top player," "an old master," "platinum rated in financial services," "the crème de la crème," and "still the best."
Coming in at No. 2 in North America was J.P. Morgan (which ranked No. 1 in the Vault Banking 50 released yesterday). Insiders called J.P. Morgan a "strong universal bank," "top tier and a strong competitor," "one of the top three banks on Wall Street," "just like Goldman and arguably better," "the best positioned universal bank," and "an 800-pound gorilla."
At No. 3 in North America was Morgan Stanley. Insiders said Morgan Stanley is "a top player," "a strong M&A competitor," and "becoming the next Goldman." Rounding out the top five were Blackstone ("reputable restructuring practice—restructuring is the real deal") and Credit Suisse ("consistent performer with good deal flow"), respectively.
In Europe, J.P. Morgan and Morgan Stanley also took the No. 2 and No. 3 spots, respectively.
For the rest of the rankings, check out the 2013 North American Prestige Rankings and the 2013 European Prestige Rankings.
And check back tomorrow for the 2013 Quality of Life Rankings. Find out which banks rank No. 1 in workplace categories such as compensation, hours, work/life balance, business outlook, diversity, international opportunities, benefits, and more.
Image Source: Dealbreaker
2013 Vault Banking Rankings Are Here!