Best Cities for Investment Banking Jobs (2024)

FAQs

Where is the best city to work as an investment banker? ›

New York, New York, USA

New York City is typically considered the finance capital of the world. Many of the largest investment banks, including Goldman Sachs,15 Morgan Stanley,16 and Merrill Lynch,17 are headquartered in New York City. So too are several large banks, including Citigroup and JPMorgan Chase.

These important cities employ a large number of financial professionals and are home to stock exchanges and corporate headquarters for investment banks. The top global financial cities are New York City, London, Singapore, Hong Kong, and San Francisco, as determined by the GFCI 34 rankings.

Career investment bankers typically work their way up from analyst, to associate, and then on to vice president and director. New York is typically the center of investment banking in the U.S., and salaries there tend to be the highest in the country as pay is commensurate to the high cost of living.

New York. New York is widely acknowledged as the financial capital of the world, solidifying its status as one of the prime locations for a thriving career in finance.

Beyond the top schools, the Ivy League schools, such as Harvard, are also key spots that investment banks look to hire from. Students looking to get a permanent job at an investment bank should consider trying to get a 12-week internship that many of these investment banks offer.

The three overall best schools for investment banking placement are: University of Pennsylvania, Georgetown University, and Harvard University. UPenn is clearly the best finance school in the entire world.

Goldman Sachs is often cited as the hardest investment bank to get into, due to its prestigious reputation, highly competitive hiring process, and rigorous standards for candidates in terms of experience, education, and skills.

The four main areas of investment banking activity are Capital Markets, Advisory, Trading and Brokerage, and Asset Management.

Goldman Sachs is widely known as the most prestigious investment bank on Wall Street. The bank's interns receive phenomenal training, hands-on experience, and the opportunity to rotate across many groups and desks.

The rich use big banks and private banking institutions. They also tend to put their money into riskier investment vehicles, focusing on maintaining and expanding their wealth. The best private banks, though, offer many investment options and services to all of their customers.

Can investment bankers make 500K? ›

Ways to make a lot of money in this world

Sure, anybody can make a good living being a doctor or a lawyer or an investment banker where you can make ~$200-500K per year a few years after you finish with your studies, but you hit a ceiling very quickly unless you start your own practice (aka start your own business).

Investment banking is one of Wall Street's most coveted roles. It is also one of the hardest. It is no surprise that the average day in an investment banker's life is long and stressful. Those who manage to survive the adjustment period often go on to have long and financially rewarding careers.

The lucrative and fast-paced career of an investment banker is a highly competitive one. For instance, in a recent year, 236,000 applicants competed for roughly 3,500 internships at Goldman Sachs. This is common across the industry where acceptance rates for programs are typically less than 2%.

Ireland is among the highest paying countries for bankers owing to its strategic position as a global financial hub, particularly in Dublin. The presence of major international banks such as Bank of Ireland and Allied Irish Banks contributes to the competitive compensation packages offered to bankers.

Investment banking opportunities in the United States are primarily concentrated in prestigious financial institutions like JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, and Citigroup.