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Harsher than that. Multiple A1s were just fired with no bonus
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
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.
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.
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.
Your post is Exhibit A of what people think of Jefferies. Lot of insecure chest pounding, always pointing to transaction volumes as though any junior banker or client should give a damn about that.
I started my career there and hand a great experience personally. Super thankful for the senior folks there who taught me so much. Doesn’t mean there isn’t a culture there that has its downsides. I’d describe it as scrappy in both a good way and a bad way.