Batteries have been the predominant energy storage system used in electric vehicles. Battery packs have a large number of cells that develop charge, thermal, and capacity imbalances over time, limiting the power, range, and lifetime. Electronic battery management and state of charge (SoC) equalization methods are necessary to mitigate such imbalances. Today, it is possible to find a wide range of battery equalization methods in the literature, but how to decide which of these methods should be applied in practice? This paper compares 24 SoC equalization circuits that are typically found in automotive applications. We employ an analytic hierarchy process (AHP) approach to rank these equalization circuits according to multiple decision criteria (energy efficiency, equalization speed, implementation and control simplicity, hardware size, and total price). We also prepared a survey to collect design preferences from multiple battery balancing experts from around the world in order to better understand the relative importance of different criteria. The obtained results confirm that automotive engineers continue to favor passive balancing methods because of their low price, small PCB size, and implementation simplicity—despite the energy efficiency benefits of active balancing.