Raymond James
What’s everyone’s opinions on Raymond James investment banking? In terms of comp/WLB/culture etc? Both in NYC and other offices?
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Source: I work at RJ.
Comp: Salary is on par with everywhere else on the street. To my knowledge, so are bonuses (give or take ~$10-20k if I had to guess, depending on group and that year's performance). We also receive year-end retention bonuses ($10-20k depending on seniority) in the form of RJ stock, which are incremental to actual performance bonuses.
WLB & Culture: I'm admittedly not in the NY office, but firm-wide RJ prides itself on giving bankers (yes, including junior bankers) an opportunity to have a life outside of work - that means having some time on the weekends, actually taking vacation days, not catching flack if you want to take an hour or two to work out in the evening, etc. Senior bankers are reasonable and generally kind people; if you decide you want to switch groups or leave for private equity, they'll help you out instead of firing you. I'm sure there are exceptions to each of these rules (for example, the Tech & Services group is known to have much worse hours because they're always so busy), but a lot of people from top to bottom seem pretty happy with their time here. Anecdotally, I'd say this doesn't vary too much between offices.
Overall, our investment banking group has come a long way in the last couple of years and we're much more readily competing with the other middle market banks that we were 5 years ago.
Any insights into industrials?
Group is pretty spread out (NY, Chicago, St. Pete, DC, Memphis) at both junior and senior levels, with the biggest offices being the first 3 I mentioned. My understanding is that they've hired a ton in the last few years, and may actually be the fastest-growing IB group at RJ right now.
Other than that, the RJ website does a pretty good job of breaking down industry expertise for all of our coverage groups.
I have only dealt with a couple of their regional offices; however, they appear to compete in the LMM space predominantly. My close friend who worked there had a base near street and a bonus materially lower than other regional offices. Their WLB was quality (barely any weekend work) but their pay was atrocious. I would assume their NYC office pays closer to street (and with that has more hours). If you have an offer from a similar firm I'd take the other offer.
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