Piper Jaffray - Which office? Where is it headed? Culture/Pay

I've searched WSO and it seems that Piper hasn't been doing too well in the last 2-3 years with many top MDs leaving. Where do you guys see it standing 3-5 years from now? Is their healthcare group still as good as it used to be? How is the culture and pay for analysts?

Also, which offices are the best for Piper? Between Minneapolis, NYC, Chicago, and Boston. Thanks!

 

I would say their healthcare group is still good. I read a few days ago that they're advising on the Medtronic $6B deal. I can't remember the details but it's on business insider. I'd say that's a good sign. They've also been hiring for the different healthcare verticals recently, but I'm not sure if thats to replace or expand. I've spoken to a guy in the Minny office and one in the Boston office, they seemed cool and preached about a tight knit group.

 
Best Response

Yeah Piper was the lead adviser on the Medtronic deal. Honestly I'm probably biased but Piper has been doing well lately and able to expand w/ acquisitions including Edgeview and Simmons. If they were doing poorly wouldn't be able to do that.

As far as offices go, Mpls, NYC, Chicago, and Boston are all very different. Mpls is HQ and has bulk of the HC teams. Boston is tiny and pretty much only TMT I think. NYC mixed bag of teams but def smaller than Mpls, Chicago is pretty much only restructuring and DCM.

A big plus of working in the Mpls office is pay is the same across all offices and w/ such a lower COL you can really come out ahead working there vs. in NYC or SF and even Chicago.

 

Not as strong as other MMs (Harris, Blair, Baird, Lincoln), but not bad by any means. Their HC team punches above its weight class consistently, but from the guys I've talked to, the other groups aren't as strong.

Their MN office has a couple teams that are known for terrible hours, but the comp, as NuclearPeng pointed out, is pretty standard for MM but absolutely killer for MN's COL.

 
<span itemprop=name>The Real Max</span>:

Not as strong as other MMs (Harris, Blair, Baird, Lincoln), but not bad by any means. Their HC team punches above its weight class consistently, but from the guys I've talked to, the other groups aren't as strong.

Their MN office has a couple teams that are known for terrible hours, but the comp, as NuclearPeng pointed out, is pretty standard for MM but absolutely killer for MN's COL.

Food & Bev led Portillos and Checkers sales the past two years, among others. Those are solid deals.

HC team just gets absolutely crushed. There are perpetual openings at the VP and Associate levels for a reason in that group.

 

Actually this was more like 5 years ago when these posts were made because there was a swath of turnover at the MD level. PJ has stabilized to some extent. The Healthcare sector has always been a strong suit, particularly with services and IT. Food & Bev has also gotten better, picking up a few notable mandates, such as the Portillo's deal w/Berkshire.

MN and Chicago offices are solid and NY is competitive. I'd stay away from Charlotte or Boston.

 

For S&T wise, I would consider Piper Jaffery in the same group as the regional broker-dealers like Suntrust, Keybank, etc. The headquarters for there S&T operations are in Minneapolis, this can either be a positive or negative thing. There culture tends to be more laid back given that there in Midwest similar to R.W. Baird. My bank didn't trade with them so I am not to sure how big there presence is in the fixed income space.

 

Would like to hear about their research division... Also, because I'm retarded, can someone please explain the difference between investment banking and merchant banking? At least in the way that Piper Jaffray uses the terms?

Currently: future neurologist, current psychotherapist Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)
 

I've heard that their FIG runs very boutique-ish, is laid back on hours, and has a welcoming culture (all relatively as compared to FIG-specific banks like Sandler and KBW)

"He was an idiot! He was a bouncer who got his Series 7" - Josh Brown
 

You've asked this question over and over. Several Certified Users have calmed your nerves. Nothing is wrong with them. I know someone who made a solid PE exit and they are extremely well respected in the MM space so please no more "What's so bad about ____" questions.

 

It has to do with exit opportunities. PJC isn't really set up in a way to send people off to megafund PE/HF exits, which is what most people on this site are obsessed with.

The flip side of that coin is that a talent retention mentality, great COL in Minneapolis(not NYC, but much more livable), earlier client exposure, and good compensation combine to make it a great shop for people who want to stay in banking and become directors.

Also because there used to be a shitposter here who loved PJC.

 

The reality is, less than 0.1% of these board members will break into the mega fund PE shops.

Are you going to die of hunger if you don't get into a mega fund? No.

Are you going to die of hunger if you don't work at a BB IB? No.

Will you live a lucrative lifestyle and have financial security if you work within high finance, no matter which firm? Yes.

Ignore the shit and just go with whatever is given to you. You're still going to be in the top 0.1% of all earners worldwide if you work at a smaller shop. And if you're so desperate to move to somewhere else after, just hustle until you make it. I read a blind man climbed Mt Everest, so there's no excuse.

 

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