Jefferies Pay
How is Jefferies these days?
So how does the pay at jefferies stack up against the averages?
This table illustrates the historical pay from ‘13 to ‘15 at the analyst and associate level.
| 2013 | 2014 | 2015 | ||||
|---|---|---|---|---|---|---|
| Analyst | Base: 75.0 | Bonus: 47.7 | Base: 76.4 | Bonus: 44.6 | Base: 80.0 | Bonus: 43.5 |
| Associate | Base: 115.0 | Bonus: 85.8 | Base: 121.0 | Bonus: 139.1 | Base: 129.1 | Bonus: 140.9 |
Here’s an average of bulge bracket analyst compensation.
Average Bulge Bracket
- 2013
- Base: 74K
- Bonus: 40K
- 2014
- Base: 74k
- Bonus: 38k
- 2015
- Base: 77k
- Bonus: 45k
Interested in more investment banking compensation data?
Check out the most recent Wall Street Oasis Investment Banking Compensation Report. It includes pay information from intern to MD for bulge brackets and other notable banks.
Recommended Reading
pretty sure jefferies had the best bonuses on the street.
Couldnt that have been attributed to the fact that they wanted to pay back employees ENTIRELY in cash for the 2012 year before the fiscal cliff tax effects on capital gains/dividends kicked in to keep bankers happy?
http://www.forbes.com/sites/afontevecchia/2012/12/11/forget-special-div…
Same reason why Costco did the $3.5B leveraged recap for a HUGE 1 time special dividends led by Guggenheim or Goldman (i forgot which bank read it online earlier that month) to pay back shareholders with 'more' $ so to speak as it would be taxed at a lower rate (article mentions other key companies following the same strategy back in December), and to pay back themselves (themselves being the BOD and management at the same time).
I could be wrong, but i figured this had to be a reason for them paying the employees more $ instead of giving them partially in cash and the rest in vested equity.
Correct me if im wrong however, and i very well might be- so no offense taken...
I'd stay away. I know a few people there and bad things (re: comp) have been going on the last year or so.
best pay on street
from the people who I know at Jef, they all seem to be very happy with their pay but when it comes to actual deal flow or live transactions, they seem to not be very happy. Maybe its because they are in the wrong teams, I don't know.
Dealflow at Jef is very group dependent. A lot of groups get crap dealflow. Healthcare, on the other hand, absolutely kills it and probably gets best deaflow within the HC industry.
what other groups do you think are good/bad?
Piper Jefferies is a good bank.
Jaffray & Co. is better.
haha
Haha true that.
The energy team has pretty strong deal flow too, from what I've heard.
Interesting to hear one person say bad things are going on re: comp while others say its the best pay on the street... gotta love WSO.
I can only speak from personal knowledge - it's always possible the people I know were just an anomaly in getting screwed. But my sense is it was fairly common for anyone other than those at the very tippity top of the totem pole in terms of ranking.
what are the best groups besides HC?
Jefferies pays street, or above.
yes, HC is good since the UBS guys came over but in terms of comps - I've heard mixed stories
To add to my comment above, Jefferies is a great firm from what i've seen. Had several rounds of interviews with them and they seem to be very very down to earth people and individuals that are genuinely happy to be @ Jeff. I know people there from the analyst level to MD and all are super friendly from my experience (LA and SF office).
Didn't Jefferies pay out zero bonuses one or two years ago?
Wasn't that Macquarie a year or two back?
delete
not sure if the guys above are serious or not...but i have heard some bad numbers for last year
New Jefferies Analyst Pay (Originally Posted: 01/06/2015)
I am joining Jefferies as a first year IB analyst in NYC at $85k salary, but can't find any reliable information about the new second and third year salaries or bonus targets (as in, as of December 1, 2014 from what I understand). Does anyone know for sure?
Thank you.
2nd/3rd year most like 90k/95k. Bonus no one knows yet. Probably will depend on what GS pays this calendar year to analysts and everyone else will try to match (whether it decreases/increases due to base salary change).
Thanks @JustADude. So they didn't increase 2nd/3rd year base pay? I also understand that all analysts are on summer bonus schedule and then move to calendar year bonus schedule at associate - is that right?
Thank you.
They did increase it. Before it was 70/80/90, now it's 85/90/95. Bonus is still calendar year for associates and above unless they changed something. I think GS is calendar year but most others are still summer schedule.
A lot of bad information on this thread... It's important to note that their Energy group has a separate bonus pool from the other bankers so their pay cannot be compared apples-to-apples with pay across the firm. They along with Healthcare also had incredible years with respect to fee generation so it isn't accurate to make a blanket statement overarching pay across the entire firm. I know people their who got paid really well and others who left because they got screwed.
xoxo
Jefferies Associate Comp (Originally Posted: 07/16/2015)
Would someone please share the new Jefferies Associate compensation?
I'm looking for the current base & bonus (median & top) for A0 (6 months), A1, A2, and A3.
Appreciate any information.
Bump
I have a friend at Jefferies and he told me it's like this. The news of comp at Jefferies is blown out of proportion. As analyst your salary is in line with market, so are most mid-level positions. Upper level positions are slightly above market. One of the big misunderstandings about Jefferies is not about high compensation, but that they pay their employees in straight cash which makes it attractive to many people.
Jefferies Bonus this year (Originally Posted: 12/26/2011)
Has anyone heard of bad numbers for Jefferies?
I heard rumblings of bad bonuses this year, and also heard of across the board claw-backs.
Monkeys, have you heard anything?
Also why have claw-backs not been used more often.
xoxo
bonus for top bucket is an offer at UBS
Clawbacks are pretty common, it's the same concept as a restricted stock unit, which is way more common.
http://dealbreaker.com/2011/12/bonus-watch-11-jefferies/
[quote=bullbythehorns]http://dealbreaker.com/2011/12/bonus-watch-11-jefferies/[/quote]
facepalm.....
anyway follows what I've heard thanks
Curious, would the bad bonus for analysts apply accross the whole firm or only the groups underperforming? It seems ufair that a group with strong dealflow/revenue generation would get hit by the overall poor performance of the firm, but i guess that is a risk that comes with working for public IB's.
I heard junior guys in energy did well and other groups were a little upset.
From my knowledge also the VPs(some) and up are expected to bring in a certain amount of revenue in deal flow, so it makes sense that this happened with a slower industry
Correct me if I'm wrong, but aren't Analyst bonuses typically much less volatile (i.e. less dependent on the performance of the firm). In a year where VP's/MD's get 0 a first year Analyst might get 45 and in a year where VP's/MD's do well a first year Analyst might get 75 right? It should never be the case that an Analyst at a large firm gets a 0 bonus right?
I don't think JEF analysts get bonuses until the summer, we'll have to wait and see on that one I think.
I agree with JWR34... Given that analysts are essentially commodities and not directly responsible for revenue generation, shouldn't pay be basically the same across the BBs (and decent MMs like Jefferies)?
Also, has 2011 really been such an awful year for IBD groups?
I know that at least for UBS while VP/MD bonuses have been low over the last several years top bucket analyst bonuses have been consistently high relative to other places (2011 according to dealbreaker was 65/80/105 for top bucket analysts in each year).
I don't think 2011 has necessarily been such an awful year in terms of fees (really just flat). In Jefferies' case their stock has just gotten murdered ever since MF Global went down and management doesn't want to be seen paying bonuses when the stock has performed so poorly.
Is there another example in the past 10 years where associates/VPs received zero / 20K bonus at big MM or BB banks? trying to determine if these really are unusual times
December 2008 is the obvious one that springs to mind.
http://dealbreaker.com/2008/12/bonus-watch-08-ms/
http://dealbreaker.com/2008/12/bonus-watch-08-mer/
Jefferies compensation similar to BB (Originally Posted: 03/21/2013)
Does Jefferies offer a housing stipend for its summer analysts like other banks in NYC?
pretty solid pay. not the highest bonuses.
No they do not. Friend working there told me no. And by friend I actually mean friend and not code for myself.
And by saying not yourself, you mean yourself, right?
i don't think any other banks offer housing stipends... i mean there's a 2k 'signing bonus' for most banks if that's what you're referring to.
Jefferies Bonus (Originally Posted: 12/14/2011)
WTF..... hopefully this isn't how the street will be looking this year.
http://dealbreaker.com/2011/12/bonus-watch-11-jefferies/
.
That awkward moment when everyone's bonus comp sheets get FUUUUUUUCKED...
They really need to stop calling this a bonus. It is deferred comp and analysts and associates worked a full year with the expectation that they would get a chunk of their income in the back end. Instead they took it in the backend.
Any perspective monkeys should start trying to apply to Jefferies. I would imagine there will be openings at the junior level.
.
DB comments are the absolute tits.
Haha ^^ Yea I saw that. Well IBD took a bonus hit haha... I mean i wonder what GS numbers will be.
If I'm not mistaken, Jefferies is known for giving mostly cash bonuses at the senior levels, which is very rare (most firms give bonuses in restricted stock so there's incentive to stay). This seems to just be a deviation from that, saying that if you want to take straight cash instead of stock, you better stay here. Sucks, but it seems to be more of reverting to what the rest of the street does than anything to be concerned with.
The Dealbreaker quote saying that VPs and Associates got pretty much nil, however, is cause for concern if legit. Then again, shouldn't really affect analysts.
That's just my two cents, though, not really sure what to make of it.
My impression is that if VPs and associates are getting zero, analysts will get next to nothing...but I guess we'll have to wait and see
See also:
better hope not many others follow suit
Wow, didn't think Jefferies was doing that badly. This is scary stuff...if I thought I would get no bonus, I honestly don't think I would do it. It's a great career springboard, but at 0 bonus you are living just above the CoL in Manhattan, depending on how you live.
0 bonus = absolutely no reason to stick around until they're actually paid out before jumping ship too
Does anyone know if this was firm wide, or just the NYC office? Would really suck if their Houston office/energy group got donuts, given that they've been pretty damn active this past year, especially in the JV space.
Man, I can't imagine being a VP or associate and getting $0. I really hope I was smart with my money and could just say fuck you and bounce.
looks like we're gonna see a lot of broker ass bankers from Jefferies this x-mas. I guess the grass really is greener on my side.
Not surprised by this at all if anything things will get much worse
Be right back...sending an application to Jefferies.
Jefferries needs to sell themselves to a larger bank.
who would buy them?
Don't think it would happen but:
1.) They could be bought by Wells Fargo, who wants to strengthen their Investment Banking Practice.
2.) They could straight merge with UBS, who potentially wants to get rid of theirs.
Not sure Jef would realistically be the play for either of these guys though. This sort of inter-bank action was major speculative talk like a month or two back.
zero bonus for associates and VP's just seems unbelievable. so say a VP who was expecting 300,000 bonus, will actually get ZERO? does anyone have any first hand accounts
Just thought this was interesting, came up when reading about their earnings release:
http://www.bloomberg.com/news/2011-12-20/jefferies-group-chief-handler-…
Not sure if this means extreme responsibility or if it means nobody at the bank is getting anything this year, but certainly newsworthy.
:(
does Jefferies pays bonus to its analysts in june or december? are they down as well?
Why is it all about comp? We're not entitled to anything. I for one accepted a job at a new exempt market dealer instead of another at an investment bank. Base comp is shit when compared to BB's but i will actually get broker shares & warrants on deals that I work on. In addition, I's a better learning opportunity than working at a big BB, cuz I'll get to do EVERYTHING. That means, all the front office stuff AND compliance, etc. Meeting with high net worth investors AND issuers.
You guys have to chill out with the salaries.. If you're happy and good at what you do, the money will come, and you'll be WAY happier..
Jefferies and comp. Good? (Originally Posted: 03/26/2007)
Are they are solid/good ibank? Bad?
Because that's what he was asking about?
good comp
One of the better known MMs. My friend was an analyst there, and he never mentioned anything particularly bad about the firm (besides the usual stuff that's true across the industry).
He actually decided to stick around for direct promotion, but that might be an indication of the lack of great exit opps.
bump
paid street last year for analysts. Not sure about other levels or how they pay during "normal" years where the market isnt very hot.
but still second tier interms of prestige and exit opportunity. pays street or very close to street.
You have by far the most creative name on here man.
My friend who worked there hated it. I mean hated it. Low pay, no respect, small deals, and the upper management treats you like shit. Extremely high turnover. I'd try for somewhere else if possible, if not....why are you worrying about the $$$?
Jefferies Analysts Make Less than 60K???? (Originally Posted: 01/06/2011)
A VP at Jefferies IBD told me that the analysts in his group (media) make close to 50K. Is this possible? Does anyone have any knowledge on this matter?
Thanks!
I call bullshit.
Ughh 50K
Base only or including bonus?
Base only
Is it london, was he speaking in pounds? just kidding
Of course base only. Mind you theres typically a few % raise after 1st yr and so on until you make associate.
I thought typical starting was around 65K. Even accountants make more than 50K starting.
I thought summer analysts were making 75k prorated...
I wouldn't put too much stock in it. most senior guys don't realize the base has increased. All the guys I have spoken to are shocked that the base in know 70+10 when they started at 55K only a few years ago.
What city? Unless we're talking middle of nowhere Kansas, that's definitely too low/wrong.
Knew a guy at Jefferies in NY (now at a MM PE firm) who def. made more than $60K base.
This is definitely a NY position. He may have been trying to weed me out. It was a first round phone interview.
Wait wait wait...did you ask about comp in your first round phone interview....?
No. He offered the info to me. Wanted to know if i would be ok with it.
Are you applying for the janitor position?
Gotta get in the door somehow. I just figure I'll work my way up.
thats so jeffries of them
LOL
Sent private message.
Yeah, most senior guys seem to know very little about Analyst comp.
Know a bunch of guys at Jeffs. 1st years get base of 70k plus 10k signing bonus.
If its 50K in NYC they better be eligible to get paid overtime!! lol
I know this post was from five years ago, but things haven't changed much!! I interviewed over there for an associate position in FIG. Let's just say, I was completely underwhelmed. They just seem like they're in no-man's land. Who comes out of school thinking, man if I can only get a job at Jefferies!! Can't say it's much better from the client's standpoint.
I'd lay a steep bet 90% of posers on this site make multiples less than $60k/year.
Jefferies pays street, I work there...PM if you have questions.
anyone have an opinion on how jefferies rank these days compared to other BB, MM, or boutiques in terms of prestige and exit opps?
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