The Blackstone Group L.P. (NYSE:BX), a global investment and advisory firm with $279 billion in assets under management (AUM) maintained its position as the best banking firm to work for in North America, according to the latest survey from Vault, a career intelligence firm.
Blackstone – Unlimited opportunity in career advancement
According to the career intelligence firm, The Blackstone Group L.P. (NYSE:BX) held the number one position in the Vault Banking 50 for the second consecutive year.
The Blackstone Group L.P. (NYSE:BX) is described by professional working for its peers in the banking industry said the global investment management firm has a “very strong brand name” and a “solid restructuring shop.”
According to the professionals, the global investment management firm has the “most prestigious program for budding bankers.
The Blackstone Group L.P. (NYSE:BX) offers top-tier compensation, unparalleled exit opportunities and opportunity to work with the best collective talent on Wall Street, according to its employees.
They also said that the firm provides unlimited opportunity for responsibility and career progression. In addition, The Blackstone Group L.P. (NYSE:BX) has very little bureaucracy and corporate non-sense.
Blackstone – Top 5 firms in every quality of life categories
According to Vault, aside from obtaining the highest position in the Banking 50, The Blackstone Group L.P. (NYSE:BX) is also among the top five banking firms in almost every quality of life category.
The Blackstone Group L.P. (NYSE:BX) ranked second in the leadership category and ranked third in the business outlook category. People within the firm said it has an incredible leadership, and it is attracting the best students out of colleges and highly-talented individuals from all levels. They believed that Blackstone is positioned to outperform its competitors significantly because of its executive team and diversification strategy.
Goldman Sachs retains second-position
Vault’s survey showed that Goldman Sachs Group Inc. (NYSE:GS) maintained as the second best place to work for among the banking firms for the second consecutive year.
The survey indicated that the bank recently started improving its quality of life standards to better attract and retain its employees. An employee of the bank told Vault that it is to “improving the culture and lifestyles” of junior bankers.
Its peers in the banking industry described Goldman Sachs Group Inc. (NYSE:GS) as “cream of the crop” and “top investment bank” or the number one when in it comes to prestige.
Goldman Sachs employees told Vault that they experience difficulty achieving a work-life balance within the firms due to very high expectations. The banks ranked 15 in hours and work-life balance categories. The Blackstone Group L.P. (NYSE:BX) ranked second and third in there categories, respectively.
Morgan Stanley (NYSE:MS) and JP Morgan Chase & Co. (NYSE:JPM) ranked third and fourth in the Banking 50. Morgan Stanley is considered by its peers as a “powerful brand and “premium bulge bracket.” They also believed that its business outlook is doing better.
On the other hand, Vault said JP Morgan Chase & Co. (NYSE:JPM) previously held the number one position in the Banking two years ago. The career intelligence firm believed that the bank might be still recovering from its PR fallout. One of the bankers of JP Morgan said, “The business outlook is challenging for everyone but we’re competing hard. Morale is good, and I have high confidence in our leaders at all levels of the firm.”