Who would you choose between the two groups?
I am perfectly fine being in Energy or Houston (originally from here). Know that both the groups are the top groups in energy but would like to know which one is the better overall choice (pay, deal flow, exits). Also don't mind the hours.
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If you don’t mind hours and care about pay and deal flows, then Jefferies is better.
Dealflow way better and you'll actually have a chance to work on it at JEF. It's really a no-brainer imo unless you really need capital market for some reason.
JEF culture and hours are supposed to be tough, but Citi's culture is just as bad if not worse (read: seniors are awful to juniors) (maybe hours are barely slightly better?), but Citi still really sweaty.
Citi Houston is hemorrhaging analysts, don't think JEF is. Dealflow at JEF makes it worth the pain, can't say the same for Citi.
Source: Friends at these banks.
Gotcha - makes sense. Do you know the pay at both the places?
Jefferies Houston comp and deal flow is way down from the golden era of shale and pay now bottom street. Bunch of senior departures the last few years and no A3’s took the A~to-A promotion this year. Whole tech team also got poached by Citi last year.
Lol at this. You don’t know what you are talking about:
- the group’s ranked No. 2 on the street rn in the league tables
- pay is still great - A2 last summer got 150k in bonuses (top of the street)
- no A3s took A2A because the Houston group hasn’t had a 3 year program for greater than 5-6 years now lol. Out of the 5 analysts who are completing their summer, 1 is sticking around (17%) (in line with historical average). The exits are Apollo, Quantum, NGP, Carnelian - which are near the top of the street (this is not including another associate who’s going to NGP and one more that’s going to Carlyle in a non-energy PE group).
- only two main senior departures over the last 5 years - Ajay and recently Rob Anderson. Both left for Quantum - so a client and not a competing bank (which is when a senior departure is bad for business). Ajay has since become the co-president of Quantum which is great for the group. The other senior leadership has remained solid.
- if you call 3-4 people (out of 30 people) leaving for Citi when they weren’t getting promoted at Jefferies “the entire tech team getting poached” then go for it. It is very common for every bank to try to recreate Jef’s tech team but none have gotten half the success this group has.
as you can see, almost everything you wrote was incorrect.