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bump
According to a few post recently, seems like a Jefferies is way above them these days. As for the rest. They seem to be competing well with PS. Wuld say PS and Baird are the top ones not including Jefferies
You think Piper is better than Blair, HL, and Harris Williams? Come on, this must be a joke
in tech, yes
Met a high school friend while out one night who worked at Piper in a very sweaty group. Told me he wanted to quit every single day of his life. Now he's moved to a boutique and is much happier. He looks way less dead inside.
Piper is probably below every name mentioned unless you are talking healthcare or financial services? Don't do a ton of work with these guys so I can't really comment.
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Why do you say it’s sweaty? Hows the culture
Where’s the boutique? Random small city boutique or whag
Piper is prob regarded as a solid MM firm. Sandler has been a leader in FIG. Especially depositories, advising others on buying banks at 0.5 BV and selling them from 2x book
Bump
Jefferies has double the avg deal size of the rest of the pack. Isn’t the usual competitor, but does occasionally pitch against the rest. Also I’m assuming we’re only talking about HL m&a, not rx.
Of the remaining, it’s group dependent but generally speaking those banks are regarded as the top mm banks, and I think piper deserves a mention in there as well, especially for its hc, consumer, and fig groups. For comp, Piper clearly is trying to become a leader by the recent pay bumps, however one could say that the others will likely follow (HL bumped first but only to 90 for a1, and baird has been at 95 base already). For exits, personally I think blair has the best exits, then HW and HL (non rx), then Piper and Baird (again not including jefferies in this convo).
Overall Piper is a good bank with some great groups, has built a reputation for a sweaty culture (not sure on updates regarding that), and is currently the leader in mm base pay for junior bankers.
Any idea on Jeff increasing pay?
No one will know.
Piper is best known for HC, financial services, and FIG. Based on networking, don't have much knowledgeable on deal flow / exits outside out those 3 respective groups.
Based on some recent posts on here it seems like Piper pays better than Baird and HW
Off base salary, piper pays the highest of all banks to analysts rn. Only guggenheim is paying 100 to A1 but Piper is paying 115 to A2. Completely tbd on what bonuses will be like going forward but prior to base bumps, but historically piper all in was like 120-150 for first years, which is not higher than HW (unsure of baird)
Heard Associate 3 going from $190 to $225
I thought AS2 was being bumped to 175. So a 50k jump from AS2-AS3?
These discussions are so pointless, unless you're holding offers from jefferies, hw, Blair and piper then it doesn't really matter how well they stack up against one another now does it? If Piper's your only offer and you want to do banking, guess what your choices are? How does Piper stack up against continuing to interview or not doing banking. That's it, that's the only ranking in front of you. Their deal flow or prestige relative to some shop that hasn't given you an offer is irrelevant. Look at your offers (places that, u know, actually sent you an offer letter) and determine the best one out of those. Anything else is pure speculation on a decision you don't have the luxury of making.
but then how could I measure the size of my digital penis
What are your thoughts on their technology group? Will west coast office be a better location to join the tech group or their headquarter in Minneapolis? Thanks!
PSC Tech group is garbage. But if you have to pick between Minni and Boston, pick Boston all the way.
I am crying out loud because it is so expensive in Boston. Also, they are garbage because they cannot win any deal lately? Or is it culture of the teams? This is sad, fam…
Meant SF not Boston - group's so ass I forgot they had a SF presence
Does anybody have any insight on Piper's Financial Sponsors Group? Culture/reputation/dealflow etc.
It was a joke when I was there (I sat next to the FSG analyst). He basically just made logos and contact lists for the industry teams and some internal work. No modeling whatsoever. Large contrast to BB FSG teams which do a ton of LBO modeling, usually a great team to be on at most BBs)
The analyst lateraled to an industry team at another MM after a year. His job looked miserable.
Their Financial Services groups (Sandler O'Neil legacy) are awesome and have really strong WLB. I think most of the sweatshop rumors come from the Piper Jaffray side. I worked in a group nested within (Fintech, Depositories, etc.) and had a great experience. Ultimately left because at the time, we, the Sandler guys, were getting paid boutique comp still and the Piper guys were making way more than us.
Meant the Sponsors group, not Services, but judging from the other reply above it seems like there’s a sharp difference in quality between financial sponsors and financial services at the firm haha
I've worked across and with the Sandler guys (FIG) several times and it was always a positive experience. The MDs always came across as super smart, very personable, with a little bit of blue collar attitude. Analysts and associates were cool as hell and did really good work.
Piper Sandler has one of the best Med Tech Groups in Investment Banking. Their FIG and Consumer groups are also very strong with FIG being located in NY/Chicago and most of Consumer being in San Francisco. With the recent acquisition of DBO Partners, they are starting to act like RJ did in the past decade, acquiring a bunch of strong boutiques (RJ acquired Financo). This will help Piper immensely in their tech group, as it lacked before this acquisition. Except for Jefferies (IMO is on the line of MM and Bulge/Elite, as GTCR is in PE to megafunds), I think the overall Middle Market lineup is realistically as follows:
1) Houlihan & Blair
2) Baird, Piper, HW, Lincoln
3) Stifel, RJ, Stephens, Cowen (TD now), KBCM
99) BGL...
This does not include international banks such as BMO, RBC, HSBC, Macquarie, etc
Isn't most of the FIG team based in NYC?
I would put Piper in its own tier above Baird, Lincoln, HW. If you work on the street you would know they are above those firms. They do however have ways to go before competing with Houlihan and Blair.
Would not at all put piper above baird and HW unless we're talking fig (which the other two don't do) or certain verticals within HC
No, Piper acquired Sandler O’Neill (FIG) which is based in NY and is their strongest office in the space
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