Goldman Sachs is no longer the No. 1 place to work for on Wall Street.
That’s according to an online survey by Vault.com, which asked financial-sector employees to rate their firms based on different measures of employee satisfaction.
The ranking shows a new favourite, and tons of details about what it’s like to work at the best banks.
Check out what the employees who were surveyed said were the pros and cons of working at the banks.
Employees said while the crisis took it's toll on the bank it's 'doing better now.'
Some cons are 'too much bureaucracy,' long hours and the tarnished reputation from the recession.
Citi Institutional Clients Group remained at its 15th spot for another consecutive year, the survey results showed.
Employees said that turmoil has hurt the bank's reputation, but it's 'poised for a rebound.'
'The question is will they be able to make use of their largest trading floor in the world?'
One pro is that the company is 'friendly.' Another said the company is going through 'tough times' and another said employees can expect to work '60-hour weeks.'
RBS climbed from 35th to 14th place for 2012, the Vault survey said.
An employee describes RBC as the 'Goldman of Canada.' Another comments said RBC is 'typically late on a deal' and has to come in as a 'co-manager or squeeze their way into bookrunner.'
Other comments touted the firm's 'team-oriented' atmosphere.
'Being number one in Canada with a growing franchise in the U.S.--that is, 'being on a winning team,'' an employee said.
RBC Capital Markets slipped from No. 11 in 2011 to 13th for 2012, the survey showed.
'Picking up Lehman's Asia and Europe operations is fueling a new energy--a firm to watch,' one employee said in the survey.
A different one said Lehman 'expanded the reputation' of Nomura.
Another asked: 'Who's still there from Lehman?'
One pro is that the bank is 'fairly diverse,' while a con is the firm has a 'risk-adverse, muddled' culture.
The Japanese bank jumped from 40th to 12th in this year's Vault.com survey. Nomura acquired several of Lehman's international operations after the bank folded in 2008.
An employee describes the company as 'high-end boutique,' while another mentions 'terrible working hours.'
One said the firm is 'very much up and coming,' while another described it as a 'dustbin of above-average bankers rather than exceptional ones.'
Moelis & Company dropped from No. 6 for the 2011 survey to No. 11 in 2012.
The reviews from employees were mixed.
One called the firm a 'rising star,' while another referred to it as 'mediocre.'
Jeffries & Co. also slipped one spot to come in at No. 10 this year, Vault's survey results showed.
An employee comment said it's a 'solid boutique -- not trying to grow out of its niche.' Another asked 'where is it going?'
On the upside, employee comments said the firm is great for making connections and working on big consumer deals.
Centerview dropped one spot to No. 9 in this year's survey. The firm is currently working on Google's pending $12.5 billion offer to acquire Motorola Mobility.
An employee said there's 'lots of hype but little real talent' at the firm.
Another described Perella Weinberg as an 'instant bank (just add water) that's not taking off as planned.'
The M&A advisory firm jumped from 30th last year to No. 8 this year, the survey showed.
Evercore is described as 'laid-back,' but the hours can be 'brutal,' employee comments said.
Evercore Partners jumped from 27th to No. 7 in this year's survey, Vault's results showed.
One employee said a positive thing about the firm is it provides cereal for breakfast, free sodas and 'designer coffee and snacks.'
A major downer an employee noted is there's 'still not many women' working at Greenhill.
Greenhill & Co. jumped from 26th to 6th this year.
An employee said one downer at Houlihan Lokey people can expect to work long hours.
'To some degree, your time is not your own; though Houlihan Lokey does as good or better a job of not wasting people's time, the hours can still be long.'
Private investment bank Houlihan Lokey held onto it's No. 5 post again this year.
An employee said the firm's investment banking division is 'known for being stiff.'
Credit Suisse's investment banking division held the No. 4 spot again this year, the Vault survey showed.
However, some Goldmanites still describe themselves as 'Kings of the Street.' Another Goldman employee said the bank is 'the gold standard, albeit a bit tarnished lately, and don't expect to have a life.'
Another acknowledged that Goldman is 'arrogant' but still brings in the 'best deals.'
After a few bumps in the road this year, including the criminal probe by the Department of Justice, Goldman Sachs has now dropped to the No. 2 spot, the survey results showed.
A comment from an employee surveyed said JPMorgan's Jamie Dimon is 'the best CEO in the business: even Obama can't resist the charm of Jamie Dimon can't resist the charm.'
Another employee said it's a 'great bank; large, well respected and came out of the crisis doing very well.'
Other comments referred to JPMorgan as 'Goldman's shadow' and said 'It's getting to big; easy to beat.'
This year, JPMorgan, the second largest U.S. bank by assets, has knocked Goldman Sachs out the No. 1 spot, according to the Vault survey.
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