Which banks are the best places to work for MBA and business master’s grads? 

Banks continue to be major employers of MBA and business master’s graduates. Banking offers roles that combine financial analysis, strategy, and client advisory work. Many banks invest in training and development. This helps early-career professionals move into leadership roles.

Vault’s 2025 ranking highlights the top banks for culture, compensation, development, and employee experience. For candidates exploring post-MBA or post-master’s career paths, it offers a realistic view of the firms that invest in people and long-term growth.

Most top investment banks hire MBA and business master’s graduates into associate-level roles. These mid-career positions are for professionals with around four years of experience who want to move into leadership.

So, which are the best banks to work for and why, as we look ahead to 2027?

Read What are the best MBAs for finance careers in 2026?

15. Loop Capital Markets

Loop Capital Markets is an investment bank with 21 offices across the US. The investment bank provides services to governmental, corporate, and institutional clients. Interns gain exposure to senior professionals and a clear view of the financial services industry.

The firm has a strong DEI focus and a supportive culture. In its 2025 rankings, Vault places Loop Capital Markets second in both Best Banking Firms for People with Disabilities, and Best Banking Firms for People of Color. Employees describe a collaborative and democratic environment where hierarchy feels minimal.

One survey respondent told Vault: “Loop has a very flat, very democratic culture where merit is acknowledged and respected. People are very collegial and not ‘title-obsessed’, meaning that colleagues’ responsiveness to others is rarely based on their relative rank in the firm. MDs respond to analysts as they would respond to another MD.”

14. DC Advisory

DC Advisory is a mid-sized global investment bank with 24 locations across the US, Europe, and Asia. With its headquarters in London, the firm specializes in midmarket corporate finance, cross-border mergers and acquisitions, and private capital markets. The Summer Analyst 10-week program gives interns experience in preparing financial models.

The firm has an open, collaborative, and entrepreneurial culture that emphasizes mentorship, training, and early responsibility for junior bankers. The Vault survey highlights a strong work-life balance, with DC Advisory making efforts to protect against weekend work. Interns and junior bankers receive extensive support and opportunities to grow.

Vault ranks DC Advisory among the top 10 banks for work-life balance and internal mobility, and second for international opportunities.

13. TD Securities

TD Securities is a global investment bank with offices in 30 cities and more than 7,000 employees. Its internship program gives experience working in a fast-paced investment banking environment, including exposure to financial modeling.

TD Securities offers services across sales, trading, and equity and credit research. Employees report structured training, wellness benefits, and protected Saturdays. The firm encourages vacations and continues to expand.

One employee said: “TDS is good about using paid time off (PTO) and, when you are on PTO, allowing you to actually be on vacation and away from your computer. Additionally, I have not had many weeks where I am working crazy hours.”

In 2025, Vault ranked TD Securities 11th for hours and work-life balance, and highlighted its internal mobility, merit-based promotions and international market exposure.

12. William Blair

William Blair is a global boutique investment bank that provides a range of services including M&A advisory, capital raising, and growth equity, serving entrepreneurs and corporations. Headquartered in Chicago, the firm has offices in 20 cities across four continents.

Interns gain practical experience working on live deals and with senior bankers, receiving extensive support, feedback, and guidance. Employees report strong mentorship and collaboration between senior and junior bankers. The firm enforces a closed-laptop policy during mandatory vacation days.

Compensation is competitive, though this year’s Vault survey notes that bonuses have varied. Vault ranks William Blair as the second-best bank for vacation policies and among the top 10 for ESG practices and internal mobility.

 Read What can you do with a Master in Finance?

11. Houlihan Lokey

Houlihan Lokey is an M&A specialist working with mid-sized clients. The firm has more than 2,700 employees.

The Vault survey 2025 reveals that interns receive strong training opportunities and hands-on experience on live deals.  Employees highlight robust training programs and the ability to shape their own career paths. The firm offers an unlimited vacation policy, though experiences vary by group.

As one respondent explained: “There is an unlimited vacation policy, so it is confusing how much one can really take. I personally had no issues on my vacation when I took mine. Hours are very variable. Sometimes I can work 80 or more, sometimes it’s less. The working-from-home policy is good for my group—no big deal if you work from home. Everything culture-related is group-dependent it differs in every group.”

Vault ranks Houlihan Lokey fourth for client interaction, sixth for international opportunities, and ninth for business outlook.

Best banks to work for | Top 10

10. Harris Williams

Harris Williams is an M&A advisory firm with offices across the US and in London and Frankfurt. The firm works with a range of global clients on growth opportunities and strategic transactions. According to Vault, interns gain early live deal experience and exposure to senior bankers.

Employees report strong DEI credentials and highlight the firm’s collaborative culture. Hours can be long with limited protected time. One respondent said: “The workload is intense, but the firm provides junior bankers with one protected week a year and one protected weekend a quarter. As long as you communicate with deal teams, the firm is understanding that junior bankers have lives outside the office.”

Vault ranks Harris Williams second for client interaction, third for informal training, and first for diversity for military veterans.

9. Greenhill & Co.

Greenhill is a specialist M&A advisory firm with a global footprint. The transition of Greenhill & Co. into Mizuho Financial Group is now complete. The firm offers internship programs with hands-on experience, exposure to different transaction types, and the chance to work alongside senior bankers.

Employees describe a collaborative, open, and friendly culture. Work-life balance is a key strength, with teams operating with a high degree of trust. Respondents say there is little expectation to work late, during vacations, or on weekends. One employee told Vault: “Quality of life is great here. I get to do meaningful work and enjoy the people I work with. The culture is phenomenal, and I get great exposure to client meetings.”

Vault ranks Greenhill among the top 10 banks for work-life balance, culture, and hours.

8. Guggenheim Securities

Guggenheim Securities provides advisory services to clients across industries. It is the investment banking and capital markets business of Guggenheim Partners. The firm offers an internship program with hands-on experience on live deals, training, mentoring, and networking. Employees describe an apprenticeship culture that supports the development of junior bankers.

Survey respondents note that work-life balance can be challenging, with unpredictable hours, but salaries and bonuses are above average. One employee told Vault: “There is an appreciation for hard work and empathy when working longer hours, enough to ensure make-up time with some downtime. There is also open discussion about morning routines, allowing employees to go to the gym at a reasonable hour. Social engagements are encouraged for team bonding.”

Vault ranks Guggenheim among the top three banks for compensation and formal training, and fourth for informal training.

Read MBA Finance | Where can it take you?

7. Morgan Stanley

Morgan Stanley is a global financial institution with three core divisions: wealth management, investment management, and institutional securities. The firm works on major transactions and has a large global workforce. Investment banking interns gain early responsibility on live transactions, while sales and trading interns rotate across desks, shadowing salespeople and traders.

Employees highlight hybrid working in several divisions and say the culture supports personal commitments. Hours can be long and fast-paced, and some report challenges disconnecting during busy periods. One employee told Vault: “The firm is deliberate about implementing policies that support a good quality of life. The staffer does a great job managing people’s vacation requests so you don’t have to be ‘available’ when you are away.”

Vault ranks Morgan Stanley as the fifth most prestigious banking firm. It is also among the top 10 banking firms for vacation policies and seventh for supporting people with disabilities.

6. Lazard

Lazard is an M&A advisory group that works on complex transactions. The firm has two divisions—financial advisory and asset management—each contributing roughly half of its revenues.

Insiders praise the internship program across asset management, financial advisory, and corporate. Interns gain direct access to clients, mentorship by senior bankers, and interaction with executives. Employees describe an entrepreneurial culture with a flat structure that encourages original ideas.

The firm offers flexibility through an optional hybrid work schedule, with remote Mondays and Fridays. Staff can also spend one month each year working from anywhere in the world. One insider told Vault: “We have been one of the few banks that have stayed consistent in that approach, and it works very well in promoting balance. This has allowed me exceptional flexibility, especially with a young family.”

In the 2025 Vault ranking, Lazard maintains its first-place position for international opportunities and ranks second for informal training and ESG practices.

5. Perella Weinberg Partners

Perella Weinberg is an independent investment bank operating across M&A, capital markets, and growth capital. Founded in 2006, the firm has its headquarters in New York, and offices across the US and Europe.

The firm offers extensive career development through formal and informal mentoring. Its global summer internship program includes a one-week training program and an ongoing curriculum covering analytical skills, relationship-building, and client-facing work. As a relatively small bank, Perella Weinberg places strong emphasis on hiring people who fit its collaborative culture.

One insider told Vault: “The firm does a great job accommodating personal needs, such as paternity leave and the ability to observe religious holidays and attend family celebrations. Everyone is expected to take two one-week vacations per year. The only reason for the long hours is client demands, but that is to be expected in this industry. Everyone on the team goes a long way to optimize the effort and minimize the risk of unnecessary work.”

Vault ranks Perella Weinberg among the top two firms for benefits, compensation, and culture.

Read What are the best MBAs for finance careers in 2026?

4. PJT Partners

PJT Partners is a global advisory investment bank. The bank has offices across the US and in key European locations, including London, Paris, and Frankfurt.

Vault survey respondents highlight the strength of PJT’s internship program, while junior bankers get responsibility on deals, work with senior bankers, and participate in client calls.

Graduates join a collaborative, entrepreneurial culture where early responsibility, strong mentorship, and development are core to the experience. Although work hours can be long, insiders say that seniors are respectful of personal time. Employees enjoy wellness offerings, including meditation sessions, mental health breaks, and counseling sessions.

One employee told Vault: “The firm provides remote periods in August (three weeks), the week of Thanksgiving, and the end of December. These are greatly appreciated. PJT employees are extremely busy year-round, so offering this flexibility allows for some ‘found-time’ in the times of year where other businesses would naturally slow down. It’s a huge benefit and extraordinarily important to employee morale and perception of the firm. There are also ongoing touchpoint efforts: weekly lunches, weekly summer happy hours on the roof deck of the NYC office, etc.”

Vault ranks PJT third for hiring processes and ESG practices. It also places the firm fifth for benefits.

Best banks to work for | Top 3

3. Moelis & Company

The top three-ranked investment bank offers financial advisory services to clients, including governments and leading corporations. Interns interact with senior bankers, support live deals, and enjoy a mentorship program and networking.

Moelis & Company creates an inclusive, collaborative culture and a diverse workforce that represents its global client base. Employees say the bank offers strong career development opportunities to junior staff, and interns receive significant responsibility. The firm also offers above-average compensation packages. Some insiders note that hours can be long, yet the firm values work-life balance with a wellness week and has in-office services to support employees’ wellbeing.

One employee told Vault: “The best aspect of our quality of life is that we frequently have internal events to connect our team members outside of work, catering once a week to take the pressure off providing food for oneself every day, and a wellness week where we bring in various services to help everyone relax, recharge, and reinvigorate. Additionally, we have tremendous respect for time off and vacation; we are encouraged to fully take time off when out of the office so that we come back to work feeling ready to get back into it and tackle the coming challenges head-on.”

Vault ranks Moelis & Company second for quality of work, leadership, and hours.

2. Evercore

Evercore is an elite investment bank offering financial advisory services to a wealth of high-profile clients. Core areas for the bank include M&A, public offerings, sales and trading, and financing. The firm employs more than 2,200 people and serves clients worldwide.

Survey respondents highlight the Evercore culture, which centers on employee growth, career development, mentorship, and sponsorship. Insiders also say that compensation is strong, with salaries and bonuses above average. Performance-based compensation is common.

One employee told Vault: “Quality of life is a major focus of our group. Weekend hours are audited, and senior members of teams are held accountable if it seems that junior teams have been working unnecessarily (which very rarely happens). We also respect protected Saturdays (which is enforced, subject to explicit client needs). Individuals are encouraged to take vacation, and teams provide robust coverage so that they are uninterrupted. Our group is very busy, but that has nothing to do with the culture or institution of our group itself; it’s just a testament to the group’s ability to generate high-quality work.”

Vault ranks Evercore top for formal training and second for best business outlook and hiring processes.

1. Centerview Partners

The best bank to work for in 2025 was this independent investment banking advisory firm specializing in M&A, restructuring, and strategic financial advisory. It has offices in locations including New York, London, Paris, and San Francisco. Centerview offers a selective internship program with exposure to live deals, in-house training, and mentoring in New York.

Employees report access to senior bankers, structured training, and exposure to live transactions. Industry insiders say that the apprenticeship-style model supports learning and long-term progression.

The bank offers top-tier benefits, including free drinks and snacks, and an on-site gym. “I think Centerview makes banking as livable as possible. There are still times when it can be difficult, but that’s the nature of the industry, and most of that discomfort comes from a client, not internally. Overall, I’d say the quality of life here is quite good. A very generous dinner stipend and good food/snack options, plus a gym in the office, make it easier to stay healthy,” one employee told Vault.

As well as being the best bank to work for, Centerview Partners ranks as the best firm for quality of work, business outlook, and benefits.