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Quick Answer:
The top MBA employers for banking include investment banks such as Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America, and Citi. These firms recruit MBAs for roles in investment banking, corporate finance, and capital markets. MBA graduates often choose banking for high salaries, career progression, and strong alumni networks.
Here are the topics we’ll cover:
- Why MBAs Choose Banking Careers
- Leading MBA Employers in Banking
- What Roles MBAs Take in Banking
- How Top Business Schools Connect MBAs to Banking Careers
- Tips to Land a Banking Job After Your MBA
- Alternatives to Investment Banking for MBAs Interested in Finance
- Key Takeaways
- Frequently Asked Questions (FAQ)
- What’s Next?
Why MBAs Choose Banking Careers
Banking is one of the most popular MBA finance career options. Specifically, MBA finance jobs have:
- Competitive pay: First-year associates (with base salaries and bonus plans) are among the best paid jobs after an MBA in finance.
- Skill development: Bankers accelerate their abilities across valuation, modeling, and transactions that can transfer to roles in PE, VC, corp dev, and strategy.
- Career mobility: A job at a well-known bank and an MBA can open doors across finance in MBA jobs — from MBA financial analyst roles to coverage and product positions.
- Enhanced networks: The best MBA programs for investment banking have deep alumni pipelines to leading banks, creating a strong support system for mentorship and career mobility.
These benefits combined make banking one of the most attractive post-MBA careers. After gaining experience in banking, candidates have numerous exit opportunities to increase the breadth of their careers.
KEY FACT:
The benefits of banking careers include compensation, skill acceleration, career mobility, and the network.
Leading MBA Employers in Banking
There are dozens of banks that hire MBAs across the top MBA programs. However, the firms that are generally top MBA employers for banking include:
- Goldman Sachs: investment banking, financing group, markets, strategy
- JP Morgan Chase: investment banking, capital markets, corporate banking, risk
- Morgan Stanley: investment banking, global capital markets, investment management
- Bank of America: investment banking, debt & equity capital markets, corporate and commercial banking
- Citi: banking, capital markets & advisory, treasury & trade solutions
- Evercore, Lazard, Moelis & Company: elite boutique banks that offer a high-touch experience and lean teams
- Barclays, UBS, Credit Suisse, Deutsche Bank: global platforms that offer breadth across sectors
- Wells Fargo, RBC Capital Markets, Jeffries: strong sector franchises that offer active deal flow
This is not an exhaustive list of the banks that hire MBAs, but it provides an overview of the possibilities for MBA finance career options.
To learn more about which banks are hiring across programs, network with current students and alums. Then, review employment reports for each of your target programs. In these reports, you’ll learn how many students pursued finance careers, what percentage went into banking, and the institutions that hired the most graduates.
TTP PRO TIP:
Review employment reports for your target MBA programs to see which banks have hired recent grads.
What Roles MBAs Take in Banking
Some of the common MBA finance jobs include:
- Investment Banking Associate: includes modeling, due diligence, and client materials
- Capital Markets Associate: structures offerings, advises on finance strategies, interacts with investors
- Corporate Banking/Coverage: builds and manages relationships; blends credit, risk, and cross-sell of products
- Financial Sponsors/Industry Coverage: combines sector expertise with PE client interactions and can create a path to buy-side
- Markets/Sales & Trading: offers markets-oriented MBAs macro and product exposure
These are just some of the core MBA finance jobs with career opportunities for MBA finance grads. However, this is not an exhaustive list.
To learn more about banking roles and what they entail, talk with students and recent alums across your target MBA programs. Professional clubs, such as the Finance Club, are often great resources for MBA applicants. So, include professional club outreach as part of your networking and part of your application and pre-matriculation planning.
TTP PRO TIP:
Professional clubs are valuable resources, so include outreach to them in your networking and planning.
Comparison Table of MBA Finance Jobs
Here’s how some of the MBA finance jobs compare:
| Company | Typical Roles* | Average Salary Range(Associates: Base Salary + Bonus)** | Notable Recruiting Schools*** |
|---|---|---|---|
| Goldman Sachs | Investment banking, financing group, markets, strategy | $250K–$450K | HBS, Wharton, Columbia, Booth, Stanford |
| JPMorgan Chase | Investment banking, capital markets, corporate banking, risk | $240K–$430K | Wharton, Booth, Kellogg, Ross, LBS |
| Morgan Stanley | Investment banking, global capital markets, investment management | $250K–$450K | HBS, Columbia, Stern, Tuck, INSEAD |
| Bank of America | Investment banking, debt & equity capital markets, corporate and commercial banking | $230K–$420K | Fuqua, Darden, UNC, Haas |
| Citi | Banking, capital markets & advisory, treasury & trade solutions | $230K–$420K | Stern, Johnson, Yale SOM, Anderson |
| Evercore, Lazard, Moelis & Company | M&A, restructuring | $260K–$500K | Wharton, Columbia, Booth, LBS, INSEAD |
| Barclays, UBS, Credit Suisse, Deutsche Bank | Investment banking, equity capital markets/debt capital markets | $220K–$400K | Broad global mix of programs, including EU/UK-based schools |
| Wells Fargo, RBC Capital Markets, Jeffries | Coverage, restructuring | $230K–$450K | Mix of U.S. and international MBA programs |
| *Roles are based on industry research and subject to change **Salary figures are based on industry research and employment reports and may not reflect the exact conditions of the current market ***Schools listed here are an illustrative sample, which may change from year to year. Many banks recruit from a broad set of programs. | |||
Take note that some of the most lucrative banking jobs are offered by companies that recruit from the most selective MBA programs. Generally, the investment banking recruiting process is very competitive.
If you’re shortlisting MBA programs, connect with current students and leadership of the professional finance clubs to learn which banks are actively recruiting at their schools.
TTP PRO TIP:
Connect with current students and finance club leadership to learn which banks are actively recruiting at their schools.
How Top Business Schools Connect MBAs to Banking Careers
The best MBA programs for investment banking do the following things exceptionally well:
- Build structured pipelines for recruiting: host on-campus presentations, closed-list interviews, and coffee chats, and have strong alumni advocates
- Provide hands-on prep for banking careers: offer a robust set of finance electives, along with industry-related bootcamps, labs, clubs, and career treks to finance jobs
- Publish comprehensive employment reporting: feature consistent investment banking MBA jobs placement and a strong bench of alumni on deal teams
If you’re comparing the best MBA programs for investment banking, look at the following:
- percentage of the class in MBA investment banking jobs
- number and breadth of banks that recruit on campus
- club resources and mentorship from second-year students
- access to cities and markets where you want to work
By researching programs and career paths in advance, you’ll identify which top MBA programs will help you land an investment banking job and which will deliver a strong ROI.
TTP PRO TIP:
Strong MBA programs for investment banking have structured recruiting pipelines and hands-on banking career prep.
Tips to Land a Banking Job After Your MBA
To land MBA finance jobs, you need to play the long game. Therefore, we recommend the following:
- Start before Day 1: Refresh your accounting, valuation, and leveraged buyout basics the summer before you start your MBA.
- Network with intention: Target students and alumni with experience in your preferred groups (for example, industry coverage or product).
- Master the technicals: Review comparable companies, precedent transactions, discounted cash flows, and debt math.
- Refine your story: Practice your elevator pitch: Why banking, why this group, and how your pre-MBA skills translate into MBA finance jobs for freshers stepping into associate roles.
- Crush the internship: Most full-time offers come after strong summer internships. So, take feedback fast, communicate proactively, and triple-check your outputs.
- Consider geography: If you want to work in NYC or London, signal that early. However, if you prefer a sector hub (like San Francisco for tech or Houston for energy), tailor your outreach accordingly.
When talking with students and alums, ask what they wish they knew or did the summer before their MBA to prepare.
TTP PRO TIP:
Talk to students and alums for advice about what they’d do in hindsight.
Alternatives to Investment Banking for MBAs Interested in Finance
Investment banking is a popular career after an MBA in finance. However, there are other strong career paths in finance post-MBA.
These include:
- Private Equity/Growth Equity/Venture Capital: generally, exit opportunities after getting experience in banking, though some funds hire MBAs with strong investing or operating experience
- Corporate Development & Strategy: includes in-house M&A roles and strategy projects at Fortune 500 and tech companies
- Asset Management/Hedge Funds: encompasses fundamental research, macro, or quant roles, depending on your pre-MBA experience
- Fintech & Product Finance: blends product, analytics, and P&L responsibilities at tech-enabled financial companies
- Risk/Treasury/FP&A Leadership Programs: refers to rotational programs at major companies (great for career after MBA finance paths)
KEY FACT:
Not all post-MBA finance careers lead to investment banking — some candidates elect to pursue alternative paths.
Key Takeaways
Breaking into top MBA employers for banking can be challenging, but not impossible. With the right plan, including school selection, technical prep, and strategic networking, you can land investment banking MBA jobs.
Whether you’re aiming for MBA investment banking jobs or exploring career opportunities for MBA finance beyond IB, an MBA program can be a powerful career accelerator.
Frequently Asked Questions (FAQ)
Do you need an MBA for investment banking?
No. However, an MBA is the most common path to associate roles, providing access to clients, training, and compensation.
Which are the best MBAs for investment banking?
MBA programs with strong IB placements, dense alumni networks on Wall Street, and robust technical prep include Wharton, Columbia, Booth, Stern, HBS, LBS, INSEAD, and some others. Additionally, we recommend that candidates review outcomes — not just rankings.
What is the typical MBA investment banking salary?
Generally, first-year associates will earn base salary + bonus packages in the mid-six figures. However, pay will vary by geography, group, and year.
Is prior finance required?
Prior finance experience is helpful but not required. Usually, associates pivot from pre-MBA careers in consulting, engineering, the military, or corporate roles.
What is the recruiting timeline?
Bank info sessions begin in the early fall, and interviews generally run in the late fall to winter season. Additionally, summer internships can convert to full-time offers. Therefore, we recommend that you start networking as soon as you matriculate.
How intense are the hours?
It depends, but you can expect long weeks — particularly during live deals and pitches. Additionally, teams value strong communication, reliability, and attention to detail.
What if I don’t land an IB internship?
If you don’t land an IB internship, pursue other finance-related roles. Specifically, these include corporate banking, transaction advisory, internal M&A roles, and others. Then, recruit for IB in the full-time process in your second year.
What’s Next?
Banking can be one of the most lucrative, but challenging, post-MBA career paths. However, you must be set up for success from the very beginning of your application journey.
If you’d like help with school selection and developing strong MBA applications, book a free consultation with an experienced admissions consultant today.
