Jefferies vs RBC vs Nomura vs DB (London)
Self explanatory,
how do these compare in london?
Jefferies is pretty well known in the states. I heard RBC is up there with Macq for infra/utilities etc. Nomura also strong and how far has DB withdrawn from the IB world in europe?
have offers from 2 of these places but just want to benchmark and compare. thanks folks.
RBC i thought was doing well, but recently made some cuts incl. analysts and associates i would google that
Jeffries has some pretty bad claw backs on bonuses i would look into
DB i think is team dependent, but anecdotally i know a lot of their analysts have been trying to lateral
Don’t know what situation is at Nomura
JEF clawbacks are only for associates.
DB>Jefferies>RBC>=Nomura (equal if LevFin) Why: DB still remains strong in Europe with some strong teams, solid brand name and chases large deals so you should be able to move to other BBs easily. Levfin is the top pick here with Industrials. Jefferies is a top MM, both in dealflow - moslty M&A with a bit of LevFin here and there. Pays very well and has a very nice culture - bit old school banking type. Very good responsibilities given from day 1 from what i hear, moves to solid MM PE/GE/VC, BBs/EBs are all possible. RBC well you’ve heard about it, they are cutting teams, lack dealflow in the MM space yet is ok in some niches (Business services, Industrials, HC, PUI, LevFin). People move to BBs/Rotschild/Lazard quite frequently from the teams listed. Nomura not really active dealflow wise except for LevFin due to their balance sheet - seem people move to BBs mostly from LevFin.
Agree with all of the above - DB is still a good name in Europe, Jefferies have good pay and dealflow, RBC recently cut c.20% of their Analyst/Associate class and Nomura probably have the least dealflow out of the 4. Don't let finance memes and forums cloud your judgement, DB is still a top 10 name in Europe.
For those laterals from Jefferies/RBC to BB/EB, do they maintain their current level or do they lose a year?
Depends on your your route tbh. I did ACA route and they were open to An3 or As 1 i think. Not sure about analyst laterals.
if RBC has cut its staff, is it better to join after their cuts since its less likely that theyll cut again?
Well you have to think why they cut people in the first place right...
What other options do you have?
currently no other
I was taking a plane back home from London this Christmas and heard this guy speak to these two female friends of his. They asked where he was working and he said "I work in Finance, at Nomura". They clearly had no idea what Nomura was but recognised that finance can have brutal hours so they asked "Wow, finance - they must work you so hard, right?". He replies "Nah, for the last 6 months it's been quite quiet" hahaha
Clearly, I don't know what group this guy is in and I'm sure his statement doesn't apply for the whole firm but I have never heard a London-based IBer say the last 6 months have been quiet unless the firm is tanking
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