I have an offer at both firms (NYC) and trying to make the decision.
- Both banks have same growth story and are strong in the MM
- RBC acts more with their balance sheet and can support larger financing
- Jefferies name is stronger than RBC in the U.S.
- Both banks have pulled a lot of top MD talent from BB through the financial crisis
- RBC is headquartered in Canada, which will always have an effect on perception
- Both banks will have smaller groups than BB which will be better for developing skills and having more responsibility
With both being a generalist offer, which would you take, and why?
jefferies
by putting RBC before Jefferies in the subject line, you have subconsciously favored RBC over Jefferies
jefferies
I would take RBC over Goldman Sachs.
canadian whore
Jefferies.. This is too easy
no brainer. jefferies easily.
What divisions?
Most likely S&T.
Investment Banking Division
How concerned should I be with the balance sheet difference between both banks? There has been a lot of talk as of late about boutiques being used for the M&A advisory expertise and the bigger banks being included for the financing. Do you think this will become more prevalent in the future, or is it more likely that RBC will grow faster (and get bigger deals) because of its huge trading presence and financing capabilities? Jefferies has spent a lot of money to achieve the high growth in the last couple years - I am concerned that this growth may not continue at the same pace. Any thoughts are much appreciated...somewhat spinning my wheels here...
I have a couple good friends at Jefferies and from what they told me, Jefferies has a partnership with a commercial bank (forgot which one) that doesn't have an investment banking presence. Through the partnership, Jefferies is able to leverage their partners' liquidity as if it is their own balance sheet when competing for deals... so not necessarily disadvantaged vs. RBC in the middle market. When you get to large deals beyond their hold levels, then RBC may have somewhat of an advantage as it relates to balance sheet, but I don't think it'll be by much.
Would you be able to find out which commercial bank?
stop worrying about the balance sheet. as analyst, you should be looking at where the other analysts are going post-banking. at jefferies, the analysts are getting into really good mm PE funds. cant say the same for rbc. i knew a few at rbc and they hated their lives there. AND didnt get any PE offers.
Jefferies
Both are growing, but the paces of growths are not comparable. While RBC has indeed been growing its US franchise, Jefferies has been basically building a new firm. Around 70% of the MDs at Jefferies are new and all of them come from BBs like Morgan Stanley, Barclays, Citi, Credit Suisse, UBS (before they got fucked), BAML, and Goldman Sachs (although only a few).
I work at RBC but I'm in Canada so we're one of the best out here. That being said, even though they are growing in the US, their name wont be as reputable as Jefferies for ages, no matter how fast they are "growing".
lev fin is the only group with worthwhile exit ops at RBC, whereas Jefferies has a pretty well-diversified platform that will give you a solid experience regardless of where you end up. RBC more than likely has higher long term potential, but Jefferies is pretty clearly stronger right now.
you're almost certainly better off taking the jefferies offer
I believe the JEF partnership is with MassMutual.
Jefferies by far. RBC does not do much in NYC.
Jefferies is providing Icahn with around 1 billion dollars of financing for his bid on Dell, I would not be that worried about the strong balance sheet issue.
Has this changed in the past year? RBC is top 10 in league tables now.
uhh RBC is not top 10. top 20
RBC vs Jefferies Investment Banking (Originally Posted: 02/17/2015)
The title says it. How do you all rank RBC relative to Jefferies and other investment banks in the US?
Overall, Jefferies has better IB brand than RBC, but depend on group.
By the way the city is NY
By the way the city is NY
By the way the city is NY
I believe Jefferies would be better than RBC, especially for exit opps
Jefferies hands down if you want exit opps
According to M&A table at Bloomberg, RBC is ranked 11th, Jefferies 12th. But when it comes to exit opps, I am sure ranking of Jefferies would be much higher than RBC.
Wait, is this for New York? I think the prestige rankings depend on that.
Is the city NY?
Why does RBC have worse exit opps while it has become has a strong player in IB? Is this going to change in the next 3 years?
RBC isn't a major player in the U.S. - most of its dealflow is from Canada where it's the top dog (energy is hugely lucrative for the bank).
^no. 3 years isnt enough time. as a 1st year analyst, you'll start to get hit up by headhunters. no one is calling RBC for PE jobs.
Ledger, do you mean that headhunters are calling RBC 1st years?
Thanks CatsCradle. I'm looking to go into VC, is that as competitive?
RBC NY vs. Jefferies NY (Originally Posted: 07/04/2014)
Which would you guys take if you were planning to make a career out of banking, not jumping ship to PE.
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