Piper Depositories is a Shitshow
This group is a total disaster. Bonuses for Associate 2s are a joke, working hard for 40k. Many analysts got paid 20k. Most deals are small-time $20M community bank sell-sides that aren’t even worth talking about.
The co-head even said they’re not sure how they can pay salaries, and after Jimmy Dunne left, Jon Doyle held a town hall acting like it’s a blessing to get paid $100k as an analyst in NYC. He’s pushing everyone to “perform,” but the reality is the group is circling the drain.
They lost every deal to KBW recently. Even RayJ and Stephens are higher on the league table. They also laid off the entire SF Fintech team. The group is way too big for the amount of fees they collect, with over 100 people, even bigger than Goldman FIG, and it’s going nowhere.
Toxic, underpaid, bloated, and inefficient. If you’re considering joining, don’t.
Half the MDs didn’t get a bonus in FSG in 2024. Just shows how messed up things are
The team stopped performing after the PSC deal. All the up and comers left right after that. Doyle never was, and never will be Dunne. Hell, he shouldn’t be anywhere near the top of that organization. What you have at the junior and mid tier level are people that couldn’t leave when the acquisition happened. Not surprised at all.
making the same or if not less than a corporate banking salary at a top BB is crazy lol
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