Jefferies A1 layoffs?
Heard that a few A1's in LevFin / M&A among others have been given a $10k bonus and basically told to leave. Can anyone else corroborate? Other groups are reporting numbers this week.
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Harsher than that. Multiple A1s were just fired with no bonus
Can confirm
Which groups?
M&A, levfin, tech
What was the reason they were given? Damn that really sucks
You mean some months back or very recently before bonus
This was a couple weeks ago
Do you know what the intern offer rate was?
Someone else quoted around 85%
Bump
Bump
That’s fucked up. Dam
-
yeah there has got to be more to the story here esp if they were not given bonus/meaningful severance
Had an analyst within my group who got fired. It comes down to they just dont get it. No matter how many times you show them something or walk them through something, it’s the same mistakes and after a while they are just dead weight. Never seen it be they dont want to work, they just suck
Does that mean they're doing some full time hiring then? Lol
No
What was return offer rate?
Most got returns even if it’s not from their first choice group
high
~85%
Anyone who works across Jefferies knows that they are just not good people who pull client in wrong direction for some $ (anyone remembers them emailing any company in the US about doing a SPAC?). Sure they do some good deals but also takes on some really crap assignments that others won’t touch. They have always randomly hired too many people and fired them too soon (from analyst to VP) and put difficult clawbacks to keep people around. Never heard anything good about the culture and few people we have who used to be there never wants to go back there. Not sure how Jefferies get any respect here but rather be at William Blair or something than at Jefferies anyday and definitely not before any functional BB (including CS).
I’m sorry but this is so biased. You can’t generalise to say everyone who works at Jefferies is a bad person.
They’ve had phenomenal growth over the past few years which is the result of people working super hard up and down the organisation. You can’t confuse that for them all just being evil
i dont think you know what based means
We understood he is talking about the company and not every single employee, clearly mentioned "Jefferies" so many times and "culture", which if you didn't get it, hints at the systems, ways of doing things, direction and collective behaviour of a group and is not character assassination of each singular individual.
Your comment is really unnecessary (and annoying).
It is investment banking. Stop being a little pussy.
Geting paid is the name of the game.
Tell how the game is played to your analysts who didn’t get paid.
I’ll still stand by my initial post that Jefferies gives bad advice, pushes clients to do things they shouldn’t be doing and overhires randomly and then fires people with little to no bonus. Maybe someone do a LinkedIn analysis on their churn rate.
Well you certainly showed him that everyone at Jefferies conducts themselves with dignity.
Sorry have to respond here. I have no axe in this fight but spent a lot of time with Ben earlier in my career and knew him well at JEF (but did not work with him). Ben was single minded about success and relentless, but he was also the most clear headed thinker I have ever met about investment banking hiring, management and strategy that I’ve ever met and there was nothing short term about him. He built an extraordinary profitable healthcare business and made JEF what it is today.
Dude the clawbacks have been debated here on this website at length - every firm has clawbacks, it just takes the form of restricted stock at others. I would much rather have all cash and be able to walk away with all my money than where I am now where the senior guys literally can’t walk away because of the golden handcuffs. People going on about the JEF clawbacks dont understand bonus structures
Lol who at Jefferies hurt you little guy? Oh no, they pitched a higher valuation than me at the bake off :(
You just repeated a bunch of stereotypes from like 2014 Jefferies that were common on here. The fact is the bank has really good culture groups and other groups that are not so good - just like every other bank.....
Seems like you're pulling specific anecdotes out and try to make it seem like it is the norm completely.
"Not sure how Jefferies gets any respect on here..." - shows you are either extremely biased or delusional. This can't be a serious comment. The fastest growing bank on WS for many years now, #7,8, 9 or 10 on league tables depending on how you look at it, #1 LBO financing shop on the street, and could go on. You clearly have a vendetta against the firm for some reason.
im sure rich handler is hiring a few more instagram managers
Any layoffs in PCA?
Not Handler joking about this on instagram
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