Landing a coveted analyst position at a top investment bank is notoriously challenging. Wall Street Oasis (WSO), a popular online forum for finance professionals, offers a wealth of insider information and perspectives on the recruiting process. While WSO doesn't provide a definitive, numerically ranked list, we can synthesize the general consensus from countless threads and discussions to create a tiered ranking of investment banks based on perceived difficulty of entry. Remember, these are perceptions based on anecdotal evidence and should be considered alongside official statistics when making career choices.
Tier 1: The Everest of Finance – Extremely Difficult
This tier represents the most prestigious and selective investment banks. Securing an internship or full-time role here is considered exceptionally difficult, requiring not only top-tier academic performance but also exceptional extracurricular activities, networking skills, and a demonstrably strong understanding of finance. Expect incredibly competitive application processes and rigorous interview rounds.
- Goldman Sachs: Consistently cited as one of the hardest banks to get into, Goldman Sachs demands excellence across the board. Their rigorous interview process and high standards are legendary within the finance community.
- JPMorgan Chase (JPM): A global powerhouse, JPMorgan Chase presents a similar level of challenge to Goldman Sachs. Its extensive reach and diverse operations mean intense competition for limited positions.
- Morgan Stanley: Known for its strong investment banking franchise and demanding culture, Morgan Stanley consistently attracts a huge number of applicants, making it exceptionally difficult to stand out.
Tier 2: Highly Competitive – Very Difficult
This tier includes firms that are highly respected and offer excellent career opportunities. While not quite as notoriously difficult as Tier 1, competition for positions remains fierce. Exceptional academics and strong networking are essential for success.
- Bank of America Merrill Lynch (BAML): A major player with a strong global presence, BAML presents a significant challenge for aspiring analysts.
- Citigroup: Similar to BAML, Citigroup's size and global reach lead to highly competitive recruitment processes.
- Barclays: A strong presence in both investment banking and other financial services, Barclays maintains a high bar for entry.
Tier 3: Competitive – Difficult
These firms are still highly regarded and offer rewarding careers, but the competition is arguably less intense compared to the upper tiers. While strong credentials are still crucial, the application process might be slightly less daunting.
- Credit Suisse: Credit Suisse, while having experienced challenges in recent years, remains a significant player in investment banking.
- Deutsche Bank: Similar to Credit Suisse, Deutsche Bank's position in the market means there's still strong competition but perhaps slightly less intense compared to Tier 1 and 2.
- UBS: Known for its wealth management division, UBS also has a significant presence in investment banking with a moderately competitive entry process.
Factors Influencing Perceived Difficulty (According to WSO)
WSO discussions frequently highlight these factors contributing to perceived difficulty in securing a position:
- Target School Status: Graduating from a top-tier university significantly improves your chances.
- Networking: Building strong relationships with professionals in the industry is crucial.
- GPA: A high GPA is nearly always a prerequisite for even considering applying.
- Extracurricular Activities: Demonstrating leadership and involvement in relevant activities is important.
- Technical Skills: A strong grasp of finance principles and modeling skills are essential.
- Interview Performance: Acing the interview process is critical, often involving multiple rounds.
Disclaimer: This ranking is based on collective perceptions from WSO and is not an official or exhaustive assessment. Individual experiences may vary. Always consult official sources and conduct thorough research when applying to investment banks.
