2008-08-07 23:51:02 -
www.vault.com/ - Vault.com, Inc. Melanie London, 646-792-6355 mlondon@vault.com Career information media company Vault.com, Inc. (www.vault.com) has just released the latest edition of the Vault Guide to the Top 50 Banking Employers, and for the ninth straight year Goldman Sachs has been ranked #1.
As part of Vault's annual Banking Survey, from January through March of this year, over 1,100
banking professionals were asked to rate banking firms on a scale of 1 to 10 based on prestige (they were unable to rate their own firms, and asked to only rate firms with which they were familiar). According to survey respondents, Goldman Sachs, the #1 firm nine years running, is still the "best of the best," "they do everything well" and the bank is likely the "greatest of our time."
The top 10 firms as ranked in the Vault Guide to the Top 50 Banking Employers are: -0- 1. Goldman Sachs New York, NY 2. The Blackstone Group New York, NY 3. Morgan Stanley New York, NY 4. Lehman Brothers New York, NY 5. J. P. Morgan Investment Bank. New York, NY 6. Merrill Lynch New York, NY 7. Lazard New York, NY 8. Credit Suisse's Investment Banking Business New York, NY 9. Deutsche Bank New York, NY 10. UBS Investment Bank New York, NY
This year's rankings featured some notable movement in the top 10, with Deutsche Bank making it onto the coveted list for the first time, moving up three spots to #9 from #12. Moving in the opposite direction is Citi Institutional Clients Group (Citi's investment banking unit), which dropped out of the top 10, falling four spots from #7 to #11. In addition, just a month before its demise, Bear Stearns ranked #16 in prestige, showing that no one predicted what would happen to the 5th biggest securities firm on Wall Street (this was, though, a drop from a year before, when Bear ranked #13).
"The big news at the top of the rankings this year was Deutsche Bank cracking the top 10 for the first time and Citi Institutional Clients Group falling out of it," said Derek Loosvelt, Vault finance editor. "Survey respondents told us that Frankfurt-based Deutsche has 'made good strides in the US,' are 'up and coming globally' and has 'great deal flow.' Meanwhile, respondents said 'poor management destroyed' Citi, whose 'massive layoffs spell problems.'"
The Banking Survey also revealed some current industry-wide trends. At many banks, diversity is on the rise, as employers are finding "that diversity of opinion and background leads to a better end product for clients." In addition, collaboration is key at many firms, as insiders say their firms are "teamwork-focused" and "collegial, with an emphasis on working with other teams." Of course, many survey respondents also noted that some top banks "have not done well in the market downturn" and "have had troubles lately." Some are even in serious "turmoil" and have become "sinking ships."
In addition to the top prestige rankings, the Vault Guide to the Top 50 Banking Employers features quality of life rankings for firms, in categories such as compensation, training, hours, offices and diversity, straight from employees that work there. The guide also contains profiles that give readers an insider's perspective of each firm, revealing information on practice areas, revenue, uppers and downers of working for the firm, employment contacts and "The Buzz,"--overall perceptions of each firm. The Vault Guide to the Top 50 Banking Employers is available at bookstores nationwide or by ordering through Vault.com.
To see Vault's top banking rankings, please CLICK HERE. All categories of quality of life and diversity rankings are available to Vault Gold subscribers.
To order the guide online, please CLICK HERE.
About Vault.com
Vault is the leading media company focused on careers. Vault is celebrated for its online resource, www.vault.com, which features thousands of company and university profiles, information on hundreds of occupations and industries, articles on a multitude of workplace topics, a network of message boards for professionals with over 2,200,000 posts and jobs-related video, blogs and research tools. Vault offers over 120 online and print books, from the best-selling Vault Guide to the Top 100 Law Firms to the Vault Guide to Schmoozing. The company's clients include nearly 1,000 advertisers and recruiters, over 900 universities and graduate schools and over 7,000,000 consumers worldwide. Maintaining offices in New York, London, Mumbai, and Hong Kong, Vault was founded in 1996 and recently received a majority investment from Veronis Suhler Stevenson, a $5 billion private-equity firm focused on media and communications.
Annual Banking Survey Reveals Goldman #1 Again, Deutsche Bank
Cracking the Top 10 for the First Time and Citi Dropping Four Spots to
#11
