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Credit: Cindy Chen

Penn was ranked as the "most attractive" undergraduate school to major investment banking firms in the 2017 Investment Banking Report released by Wall Street Oasis.

Penn is the target of 3.2 percent of the recruitment and hiring efforts of major firms including Credit Suisse Group, Morgan Stanley, and Citigroup, reported Business Insider on Tuesday.

Down from its percentage in 2016, Penn was able to defend its No. 1 spot on the list due to increased interest from Wells Fargo, Barclays Capital, and Credit Suisse Group. Penn was also one of four schools in the top 10 to receive recruitment focus from all of the major firms studied in the report.

Three other institutions in the Ivy League placed on the list of the top 10 target schools for major banks, with Harvard University at No. 3, Cornell University at No. 5, and Columbia University at No. 7.

The Daily Pennsylvanian reported that Goldman Sachs, a major investment banking firm, was the third top employer of the 2016 Penn graduates, and nearly half of the graduating students who took full-time jobs work in finance or consulting. Morgan Stanley and Citigroup were also on the list of the top 10 employers of 2016 graduates. 

Investment banking was one of the top two career choices for Wharton students graduating in 2015 and continues to attract many graduates each year.