What are the Major Banks? Top 10 Major Banks You Should Work For

The top major banks include JP Morgan Chase, Bank of America, Morgan Stanley, and Citi Institutional Clients Group. These companies employ millions of people all over the world. Additionally, they contribute to the global economy.

Asset value and other financial metrics make them the top 10 major banks. For example, JP Morgan Chase currently has a market capitalization of $374.22 billion. Also, they offer high salaries and benefits to employers, which makes people desire to work with them.

What are the Features of Major Banks? 

Major banks are characterized by their size, scope, and commitment to regulatory compliance, technology and innovation, and customer service.

7 common features of the major banks sector 

1. Global presence

Major banks always have a global presence. They operate in multiple countries and regions. This allows them to serve the financial needs of multinational corporations, investors, and high-net-worth clients.

2. Technology and innovation

Major banks invest in technology and innovation to improve their products, services, and customer experience. They do this by adopting artificial intelligence, blockchain, biometrics, and other recent technologies.

3. Size and scale

Major banks are always the largest and most influential financial institutions in their respective markets. They also have a good market share and extensive networks of branches, ATMs, and digital channels.

4. Large assets

Major banks have large amounts of assets. They are always in the billions or trillions of dollars. It allows them to lend to individuals, businesses, and governments and to invest on a large scale.

5. Varieties of Products and Services

Major banks always have many financial products and services. They include checking and savings accounts, loans, credit cards, investment options, and insurance. This allows them to offer a variety of services to their customers.

6. Strong risk management practices

Major banks in the banking sector have effective risk management practices in place. This protects the safety and soundness of the bank and its customers’ assets.

7. Strong Brand Recognition

People know major banks for their strong brand recognition. Customers trust them due to their longevity and reputation in the industry. They also have a strong online presence, which makes people trust them with their assets.

Top 10 Major Banks to Work For and Launch Your Career

Many major banks are great places to work and launch your banking career. You need to know the top ten major banks that have opportunities for good career growth and advancement.

Here are the top 10 major banks to work for and launch your career

 1. JPMorgan Chase & Co

JP Morgan Chase / What are the Major Banks? Top 10 Major Banks You Should Work ForSize: 250,000 employees

Market capitalization: $367.65 billion

CEO: Jamie Dimon

JP Morgan Chase was founded in 1799, with its headquarters in New York City. It is the largest major bank known for offering high-level careers in banking and finance. The bank also offers opportunities in other departments, such as engineering and business.

JP Morgan also offers corporate responsibility, professional development, support for graduates, and accommodating work-life balance policies. They have outlets in more than 100 countries.

2. Bank of America

Size: 210,000 employees

Market capitalization: $217.10 billion

CEO: Brian Moynihan

Bank of America was founded in 1998 and has its headquarters in Charlotte, North Carolina, United States. They have 66 offices around the world. Bank of America offers financial services to individuals, small and middle-market businesses, large corporations, and governments. 84% of employees at Bank of America say it is a great place to work. You start your career here.

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3. Morgan Stanley

Size: 80,000 employees

Market capitalization: $170.5 billion

CEO: James Gorman

Morgan Stanley was founded in 1935 and has its headquarters in New York City, USA. They offer financial services to a client base that includes corporations, financial institutions, governments, and individuals. They have 61 office outlets all over the world.

Morgan Stanley highlights opportunities for creativity and problem-solving as reasons why an individual would want to work there. According to Glassdoor, 81% of employees recommend Morgan Stanley to friends and acquaintances.

4. Citi Institutional Clients Group

Size: 200,000 employees

Market Capitalization: $138.68 billion

CEO: Paco Ybarra

Citi Institutional Clients Group was founded in 1812 and has its headquarters in New York City, USA. They offer financial products and services to corporations, governments, and non-profit organizations. They have offices in London, Hong Kong, Tokyo, and Sydney.

According to Glassdoor, the work-life balance and the organizational structure at Citi are good for people starting their careers. 69% of the 633 employees who took part in the review have positive reviews about the bank. You can start your career at Citi because they care about their employees and want them to succeed.

5. Wells Fargo

Wells Fargo/ What are the Major Banks? Top 10 Major Banks You Should Work For

Size: 200,000 employees

Market capitalization: $136.84 billion

CEO: Charles W. Scharf

Wells Fargo was founded in 1852 and is known for making money by lending out money at a higher rate. Working in this bank is a good opportunity for individuals who want to work for a well-established bank.

They have a long history of providing many perks to their employees, like $5,000 scholarships, housing stipends of $1500 every month, and free breakfast. They have offices in over 37 countries. Their headquarter is in San Francisco, California, USA.

6. Goldman Sachs

Size: 40,000 employees

Market capitalization: $129.5 billion

CEO: David Solomon

Goldman Sachs was founded in 1869 and is known for investment banking, securities underwriting, asset management, and more. They have their headquarters in New York, USA.

Goldman Sachs is well-established and has a reputation for excellence. This major bank is a good fit for individuals looking for a place to kick-start their careers. They have offices in the USA, UK, Australia, Brazil, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, etc.

7. Barclays Investment Bank

Size: 83,500 employees

Market capitalization: $41.68 billion

CEO: Paul Compton

Barclays Investment Bank was founded in 1690 and has its headquarters in London, UK. Barclays is a good major bank that provides financing, and risk management solutions to companies and their customers. Barclays has offices in New York, Hong Kong, Tokyo, and Singapore.

They are rated 4.1 out of 5 based on reviews by employees. Glassdoor mentions that it is a great place with a good work-life balance. Many people want to work here due to their reputation for innovation. Additionally, their Digital Eagles program allows employees to make a positive impact on communities.

8. Jefferies Financial Group

Size: 5,381employees

Market capitalization: $5.08 billion

CEO: Richard B. Handler

Jefferies was founded in 1962 and has its headquarters in New York City, USA. It is known for institutional brokerage, securities research, and asset management. Jefferies Financial Group has many holdings, which include Berkadia Commercial Mortgage, HomeFed, Vitesse Energy, Juneau Energy, and Garcadia Holdings.

They have a fast-paced work culture with good communication. 70% of employees in major banks recommend working there. The bank also provides many career growth opportunities for its employees all over the world.

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9. Lazard

Size: 3,000 employees

Market capitalization: $4.98 billion

CEO: Kenneth M. Jacobs

Lazard was founded in 1848, with headquarters in New York, USA. Lazard focuses on financial advisory and asset management. They have 43 offices in 27 countries. Lazard has a rating of 4.6 out of 5 for a good workplace. 74% of people working there would recommend the company to a friend for its high career opportunities. This shows that it’s a good place to start a career in the banking sector.

10. Oakworth Capital Bank

Oakworth Capital Bank/What are the Major Banks? Top 10 Major Banks You Should Work For

Size: 131 employees

Market capitalization: private

CEO: Scott B. Reed

Oakworth Capital Bank was founded in 2008 and has its headquarters in Birmingham, Alabama, USA. They provide commercial and private banking, wealth management, and consultation services to successful businesses, families, and individuals.

It is a good bank to start a career in because of its numerous benefits for employees. This major bank has been named the #1 “Best Bank to Work For” every year for the past 4 years in a survey conducted by American Banker.

Name of company Headquarter Number of employees Current Market capitalization/revenue
JPMorgan Chase New York City 250,000 $367.65 billion
Bank of America


Charlotte, North Carolina, United States. 210,000 $217.10 billion
Morgan Stanley New York City, USA. 80,000 $170.5 billion
Citi Institutional Clients Group New York City, USA. 200,000 $138.68 billion


Wells Fargo San Francisco, California, USA. 200,000 $136.84 billion


Goldman Sachs New York, USA. 40,000  $129.5 billion
Barclays Investment Bank London, UK. 83,500  $41.68 billion


Jefferies Financial Group New York City, USA. 5,381 $5.08 billion


Lazard New York, USA. 3,000 $4.98 billion
Oakworth Capital Bank Birmingham, Alabama, USA. 131 Private

How to Get a Job Offer from the Top Major Banks

Getting a job offer from the top major banks is a challenging task as they have many highly qualified candidates. However, you can achieve it with the right approach and preparation.

5 ways to get a job offer from the top major banks 

1. Research the bank

Before looking forward to applying for a job at one of the top major banks, research the bank thoroughly. Look through their website, social media handles, and news articles to understand the bank’s mission, values, and culture. It will guide you in tailoring your application to the bank’s specific needs.

2. Networking

Networking is a good opportunity for getting a job at a major bank. Attend industry events, connect with professionals on LinkedIn, and reach out to old classmates who work at the bank. Build relationships with people who are already employed at the top major banks so they can give you inside information on job openings. This will increase your chances of getting an offer.

3. Develop your knowledge and skills

You must develop your knowledge and skills in the industry. Ensure your skills and experiences align with the position you are vying for. Be confident and professional when asking questions about the job you want. Without knowledge of the industry and relevant skills, no employer will give you a job offer.

4. Create your CV/resume and cover letter

Once you know the top major banks you want to work for and the role you want, create a new CV/resume or update your old one to fit the job requirements. Ensure you highlight your skills, experiences, and accomplishments in the banking sector.

5. Apply for jobs

When you finish with your CV/resume, apply for the vacant position you wish to fill. * Use banking job boards to find a role that fits your skills and experiences. Ensure you read the requirements and make sure you fit them before sending in your application. Additionally, crosscheck your application, and see that it’s correct before clicking “Submit.”

What Do Top Major Banks Look for When Hiring?

Top major banks are very selective when it comes to hiring because they want the best candidates. They want individuals with relevant skills and experience to work with them.

Here are 5 factors the top major banks look for when hiring

1. Education and qualifications

Many employers in the top major banks require a college degree in finance, economics, accounting, or a related field. Some positions require advanced degrees like an MBA or a Ph.D. Professional certifications are also relevant. You can earn certificates as a Certified Financial Analyst (CFA) and a Certified Public Accountant (CPA). These will increase your chances of getting employment.

2. Relevant experience

Top major banks want individuals with relevant experience in the banking or financial services industry. Employers require experience in risk management, investment banking, corporate finance, accounting, and wealth management. People with these experiences have a higher chance of working with the top major banks and they get the best salaries.

3. Professionalism and work ethic

The major bank sector is a heavily regulated industry. They have a strict code of conduct and expect so much from their employees. Top banks look for experts who take pride in their work, have good integrity, and have a commitment to excellence.

4. Analytical skills

Employers in top major banks require individuals with strong analytical skills. This ability will help them in evaluating financial data, assess risk, and make decisions. Individuals who wish to work in the top major banks must have proficiency in financial modeling, data analysis, and statistical methods.

5. Cultural fit

Top major banks look for individuals who share the same organizational culture and values as them. They have specific cultures that form their history, leadership, and business strategies. People who fall into this cultural fit will get a job in the major banks sector.


What are commercial banks?

Commercial banks are financial institutions where the public can deposit money. They also offer services like checking accounts, savings accounts, loans, and many more.

What are the different types of commercial banks?

Public and private sectors, foreign, cooperative, investment, savings, retail, rural, small finance, and payment banks are all commercial banks.

Is the banking industry growing?

The banking industry is growing every year due to technology and other factors. Statistica projects that revenue in the banking industry will amount to $3.83 trillion in 2023. It has an annual growth rate of 2.19% from 2023 to 2025. Many jobs will be available in the major banks sector in the next 10 years.

Who is the largest major bank?

According to Insider Intelligence, JPMorgan Chase is the largest major bank in the US. It projects that the bank will have $3.31 trillion in total assets in 2023.