blog Bonorum et Malorum

You should be aiming for these 5 investment banks this year?

Written by Fmi.Online

It is vital to start your career in investment banking with the right organisation, one that not only offers a healthy corporate culture but also supports your personal goals. Some of the critical aspects which you must consider while selecting an investment bank are corporate culture, compensation, core areas of focus, size of operation, history of the financial institute, work-life balance and training. In this article, we will dive deep into the top 5 investment banks you should be aiming for in 2023. 

JP Morgan Chase 

JP Morgan Chase & Co. has its roots dating back to the late 1800s, founded by the famous American banker JP Morgan Sr. The current structure came into existence in December 2000, when JP Morgan and Chase merged to form JP Morgan Chase & Co. The financial institute operates through 2 verticals, JP Morgan, focused on core investment banking and is highly regarded for its work in M&A (mergers and acquisition). Chase, on the other hand, focuses on consumer and commercial banking. A major draw for investment banking applicants is JP Morgan’s culture of deep learning and encouragement, and its CEO, Jamie Dimon.

JP Morgan Chase had $3.77 trillion worth of assets under management, as of June 2022 and an impressive presence in over 100 markets around the globe. 

Goldman Sachs

Goldman Sachs is one of the top investment banks with a rich history of over 150 years. Its major divisions include financial advisory, underwriting and investing portfolios. The bank has one of the most competitive work cultures in the financial industry. Ironically, many applicants are attracted to this trait, considering it can be challenging but offer a learning curve. 

As of June 2022, the bank controls nearly $2.5 trillion in assets and enjoys a worldwide presence with offices in 16 countries. Some of the top officials of global central banks, the U.S. Treasury, and the White House advisors have spent their initial years working here. 

Morgan Stanley

Morgan Stanley was established by J.P. Morgan’s grandson, Henry Morgan, in 1935. The financial institution is known for being intensely competitive and usually competes with Goldman Sachs for the title of the top dealmaker of the year. Morgan Stanley is ranked highly amongst the top investment banks for its advisory services in M&A and initial public offerings (IPOs). Like Goldman Sachs, investment bankers are attracted to Morgan Stanley because of its history, work background, and the compensation associated with the job. 

As of June 2022, the financial institution has over $6.5 trillion in assets and operates one of the largest wealth management verticals in the world, comprising more than $4.5 trillion dollars in assets. It has a presence in 32 countries around the world. 

Evercore 

Evercore is one of the youngest investment banks with just 30 years of history. The bank is considered to be a remarkable financial institute as it records dealmaking numbers comparable to its much older peers that have existed for over a century. The bank is known for its restructuring advisory. It has worked on massive restructuring deals for clients such as GE and Verizon. Evercore has a very ambitious corporate culture. One of the biggest attractions for young investment bankers is the bank’s low analyst-per-associate ratio. Junior investment bankers have relatively higher client-facing opportunities and gain deeper insights into dealmaking. 

Evercore has over $12 billion dollars in AUM, as of June 2022 but has provided advisory worth $4.7 trillion dollars and operates in 11 countries. 

Bank of America 

The investment bank was created through a series of mergers, the most notable being the acquisition of Merrill Lynch during the financial crisis of 2008. Bank of America, apart from its advisory services, is known for its soft work culture. Unlike the alpha male-dominated locker room culture of Wall Street, the bank has an amiable work environment. This is also one of the strongest draws for investment banking aspirants. Moreover, a degree from an Ivy League university is not required for the bank to take notice of your resume. The institution also ranks the highest when it comes to diversity. 

Bank of America is the second-largest U.S. bank, in terms of size, with a balance sheet size of approximately $3.1 trillion. 

Conclusion 

When it comes to getting into one of these financial behemoths, it is important to consider your personality and individual goals, above everything else. If you are interested in restructuring and advisory, you should prefer a bank which shares that interest. Moreover, amongst these five financial institutions, Goldman Sachs is the hardest to break into. It receives over 100,000 applications for 2300 internship positions every year. 

More Articles

How you can get a front-facing role in a top investment bank without any experience in 2023

Learn how to get a front-facing role in a top investment bank without any prior experience. Understand what front desk jobs in finance are and the skills required, get the right qualifications, internships, network, and build the right skill set. Show your willingness and dedication to the role through internships, and make a good impression through networking.

Read more
Interview Prep

How to make a successful career in the derivatives market in 2023

A career in the derivatives market offers job paths of derivatives trader, derivative operations analyst and derivatives risk analyst. Traders need finance/economics degree, financial market knowledge and technical skills. Operations analysts need business administration/accounting degree and derivative knowledge. Risk analysts need risk management experience and education. The career is demanding but offers high compensation and growth opportunities.

Read more

Here are the top investment banking internships you should be aiming for in 2023!

Explore the top investment banking internships for 2023, including JP Morgan, Goldman Sachs, Morgan Stanley, and Bank of America. Learn about the duration, requirements, and responsibilities of these highly competitive internships, as well as the benefits of gaining experience with one of the top investment banks in the world. Discover how an internship with a top investment bank can boost your resume and improve your odds of landing a full-time job in the industry.

Read more
Interview Prep

How an investment banking simulation can train you for your dream career in IB

Simulation replicates the real world to deliver a specific experience in a controlled environment. It prepares candidates to answer case study questions asked during the investment banking interview.

Read more

Here’s what your resume should look like as an investment banking aspirant in 2023

Here's what your resume should look like as an investment banking aspirant | Fmi Online

Read more

Here are the top 3 investment banking interview questions in 2023

Here are the top 3 investment banking interview questions Investment banking interviews are designed to evaluate how fit a candidate is for the leading job role in the field of finance, and therefore should be attended with a decent level of preparation.  Candidates must have a solid understanding of corporate finance fundamentals, and company valuation, […]

Read more
Interview Prep

What you might be lacking in your IB interview prep

Going through the fundamentals of finance, working on DCF calculations, and preparing financial models are some of the more obvious things that an aspiring investment banker prepares for before interviewing for a job at a top investment bank. But what about the subtle nuances that could determine whether you will land a job or not? […]

Read more
Investment Banking

How can an investment banking course help you land a job in 2023? 

With consolidation in global markets and alterations in the supply chain, businesses are exploring the path of M&A to exploit synergies with their global counterparts and achieve efficiency. This has led to an increase in corporate transactions, fuelling the demand for investment bankers. The size of the global investment banking industry is estimated to be […]

Read more

4 Ways to Analyse How Your IB Interview Went

After a job interview is over, you will have some time to reflect how your interview went. You might feel confident about certain parts and nervous about others. You desperately want to understand if the interview went well or not. Are there cues that can help you analyse how you performed? To some extent, yes. […]

Read more
Asset Management

The Art of Cracking Technical Interviews for an Asset Management Role at Top Banks

Asset management is the practice of studying, acquiring, and trading investments with an aim of increasing total wealth over time. The sector offers lucrative opportunities with sizable salaries for you to pursue. Asset managers are often referred as portfolio managers or financial advisors as they perform this service for their clients. Asset management companies are […]

Read more
Our Courses are designed to boost your career

Launch your career with Fmi’s Learning Pathway

Choose a learning pathway that best meets your needs and ambitions. Not sure which Fmi learning pathway is right for you? Explore our CareerBuddy videos for help and advice.

Investment banking pathway

Investment banking pathway

Monthly Subscription
  • courses-clock60+ hours
  • courses-desktop9 courses

Investment banking offers many exciting career opportunities for students. From Financial Analysts to Investment Management, and Sales & Trading to a wide range of roles in infrastructure such as IT, Risk or Compliance. This pathway is designed to help you understand the investment banking industry, the roles investment banks are recruiting for, and most importantly, help you to develop the practical skills you need to get into the industry and your preferred role whether this be as part of a school leaver, intern or graduate program.

FMI Online Student join-student-img2 FMI Online Student
55,000+ students currently enrolled
Global markets pathway

Global markets pathway

Monthly Subscription
  • courses-clock70+ hours
  • courses-desktop10 courses

Global markets provide a range of important products and services to corporates, institutions and governments worldwide from executing trades and managing risk to providing quality research content. A key business area in all investment banks, global markets offers a wide range of career paths for students to consider across all functions and at all levels from school leavers to internships through to graduate programs.

FMI Online Student join-student-img2 FMI Online Student
85,000+ students currently enrolled
Asset management pathway

Asset management pathway

Monthly Subscription
  • courses-clock50+ hours
  • courses-desktop8 courses

The asset management industry is a global industry worth over 100 trillion US dollars. It plays a crucial role in managing the assets of retail and institutional investors, offering a wide range of exciting careers in doing so. If you’re looking to forge a career in asset management, our Asset management pathway is perfect for you. We help you build the skills all asset managers are looking for and explore everything you need to know about the industry and the wide range of roles available in the sector

FMI Online Student join-student-img2 FMI Online Student
100,000+ students currently enrolled