Jefferies reputation/standing 2023 - should one take a Jeff offer over Ubs/Db
Jefferies reputation/standing 2023 - should one take a Jeff offer over Ubs/Db or maybe even Guggenheim
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I think everyone’s beaten to death this topic.
All of those shops are amazing. Just get an offer at one.
Seriously. Just get an offer don’t go counting chickens that haven’t hatched
This is the only answer. They're all great shops and will give you great experience and exposure for what you need to get a foundation in your career.
For what it's worth, I took a Gugg NYC SA offer and decided I would prefer that to trying to accelerate my UBS/DB processes. I see Gugg and JEFF as very similar. In terms of exit opps, from people I've spoken with, UMM/MF PE is evenly possible (although varying levels of rare, depending on "prestige" of PE firm) at all firms, and to be considered for top roles you likely need close to a 4.0, 1600, and top group placement. You can definitely land good firms, but you should have 0 expectation of on-cycle placement into APO/KKR/BX etc. Can't comment to JEFF comp, but it was my belief that UBS/DB were close to bottom of BB/street. Also came down to my belief at the time that Gugg (and from what I have seen/heard, JEFF as well) are on the rise while UBS and DB have been struggling for years now. As an incoming intern, Gugg definitely seems to have had a comparatively bad year in terms of deal flow (not counting their MM practice), so not even sure this was the right call. It was definitely a difficult choice for me to make, and I had a hard time making it, as I would with JEFF. I really do think they are all pretty similar. Best advice if given multiple offers or the opportunity to get multiple offers is to ask your networking contacts at not only these firms, but also others for their advice. Also consider your school / alumni placement within groups, as I would say your choice should reflect, for example, if you feel you are guaranteed UBS M&A vs having 0 alumni at JEFF and getting a group with poor exits and dealflow.
- incoming summer intern, so take it all lightly
As you said, all good shops. Don’t discount the value of culture / comp at Gugg compared UBS/DB, which played a lot into my decision. Try not to look back, fun summer ahead (former Gugg summer analyst). Again, all good shops and rankings are dumb
Does gugg or jeff pay more? and do you think all 4 of these shops are in the same tier of exits
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What do you identify as top roles where you need a 4.0, 1600 and top group to place from these tiers of firms? UMM/best mm pe shops? curious to see what else you learned from the people you have spoken with
It's hard to answer without context on the group options and what you are looking for in an experience. The truth is all these banks are not top choices and each have strengths and weaknesses. The group you are in also matters because not every group at these banks are going to be strong. Generally speaking Jefferies is a very M&A heavy bank. UBS and DB are BBs with large balance sheets so they have more of a capital markets presence. If you want M&A deal flow then Jefferies is the best out of the banks listed. Pay is going to be slightly better but not that much different at the analyst level. Exits will be the same.
Very helpful, thanks. Would you recommend lateraling after 6months to a year to a better bank and doing 2.5-3 years of IB for better pe exits? Just want your personal opinion here
On cycle happens early and it's quick so you would sign about 6 months into the job. If you have trouble getting looks from HHs then you should lateral but if you got interviews and didn't get the offer then the bank is probably not the issue.
If you want M&A. Guggenheim is the clear choice…… it’s their bread and butter. Capital markets is their newer presence where they’re growing their brand. Jefferies is all capital Markets with decent M&A. DB and UBS are both shitholes and would only go there if you had no other choice
Jeff also poached the whole Gugg PCA team recently which has helped them become one of the leaders in the space
UBS doesn't really have much of a balance sheet. It's fairly capital light since 08. Agree with you though that generally Jeff has better M&A than UBS/DB in the US. However, that's also because it takes on some small deals that BB's don't want to.
Gugg is the clear choice here given the comp and culture.
All good shops.
Avoid Jefferies. Toxic culture and honestly was a terrible place to work, even as a Top ranker.
Lol should Jefferies and reputation be in the same phrase still? Shitty sweatshop with even shittier management. Just look at the same 2-3 jeff kids msing every comment.
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