JEF ve Simmons Houston
Just got an offer from Jefferies. Interviewing with Simmons on Monday. How many more hours will I work at jefferies? Starting base is 110k
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You’ll work more hours at Jefferies for sure but I don’t know if it’ll be considerably more. the bonus will for sure be more than Simmons and that’ll be by a considerable amount. At Simmons you’ll probs get a 50-60k bonus but at Jefferies you’ll make closer to 100-120k in bonus your first year. Obviously you won’t work 100% more hours (it’ll be more like 10-20% more, so the delta in comp is more than delta in hours). Also, the midstream vertical at Jefferies actually has very good hours (very big difference between upstream and midstream in hours) - but as an analyst you’ll be generalist across verticals. Although you can start putting in a preference for midstream as you spend 3-5 months on the desk.
Outside of Hours, I think JEF is the better shop for multiple reasons. It’s got a crazy amount of deal flow and a lot of momentum. This is year, the energy group at Jefferies is on track to complete a record number of deals. It’s got a very successful upstream practice and also a top notch midstream practice. Also has been completing a lot of energy transition deals. on the flip side: Simmons used to be really known for its OFS practice but OFS deal flow is no where to be found. They got an A&D team from Scotia but they haven’t converted many deals (probs because they had a balance sheet at Scotia but not at Piper (atleast not the same size)). so, you won’t get as meaningful of an experience as Jefferies, where you are guaranteed to close multiple deals every year.
The merger with Piper also didn’t go as they expected and Simmons has also seen a ton of turnover across all levels. Clearly Simmons now is a shadow of what it was originally. It was known for its culture but I am not very confident that it’s still known for that.
if you look at Exits, Jefferies wins out again. This year, out of a set of 7 people I spoke with, 2 are going to NGP, 1 is going to Quantum (both of which are Energy MFs) and 1 is going to Carlyle in their industrials group (so, a non-Energy MF exit), 1 is going to Apollo (another MF) and one is taking A2A on a very lucrative deal, while one is taking a top-level corp dev gig. So, from jefferies, you can exit to pretty much any place you want (energy, non-energy, corp dev, etc.) or have a path to growth internally.
Let me know if you have questions, can help clarify anything if needed.
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