RBC (NY) vs. Jefferies (NY) SA 2020
Hey everyone. This is my first and not sure if this will be my last post, but I recently received IB 2020 offers for Jefferies and RBC. I’m a rising junior and I’m grateful for these opportunities but I’m not too sure which to accept. Would anyone be willing to give insight in terms of which might be the best decision based on:
Culture (cutthroat/intensity?) Overall reputation on the street? Best groups? Diversity? Best opportunity for a return offer and FT? Exit Ops?
I know more individuals at RBC and do not know anyone in the banking teams at Jefferies so I am taking everything including that aspect into consideration. I’m very stuck between the decision so I respect all opinions.
There’s a big thread on Jeffries recently, while controversial, it seems that younger guys should steer clear of there. I would love for someone more experienced to chime in but RBC also seems to be stronger now regardless of that thread too. The bank is now on par with a lower BB I hear?
Why should younger guys steer clear of Jefferies? The said bonus claw back thing does not apply to the analyst class.
Some of the more senior guys on the thread were posting comments saying to steer clear from them if we're looking for places to SA.
RBC! M&A group is doing the Suntrust BB&T Merger, seems as if they are trending in the right direction. Jeffries is a total sweatshop, if you don't plan on being a career banker I wouldn't touch with a 10ft pole.
Negative. Their FIG team is doing the deal. Deutsche seniors brought it over after being poached.
Fair point. I read that Jason Braunstein was on the deal team and just kind of assumed, thanks for pointing out!
When did you get the jefferies offer if you don’t mind me asking? Did you apply through a specific program?
Hi,
I received my offer 2 days ago. I received an invitation to an insight day they were hosting, but then got re-invited to interview for the position!
Was insight day for diversity?
In terms of a return offer, from what I've been told by analyst's at Jefferies, there is a full-time spot available for every deserving intern.
I heard that RBC NY doesn't give interns return offers to a specific group (you get placed later). Can anyone confirm that?
If you get a return, you have the option of going back to the group you summered in or go back into the placement process.
If you want to do LevFin / Sponsors, Jefferies is your spot. They’re an unregulated bank so they can do things like put out 7.5x leverage stapled financing. Culture-wise I don’t know much about either beyond that Jefferies broadly appears to be pretty sweaty while RBC Industrials (don’t know about the other groups) seems to have some serious face time culture. One pretty cool thing about RBC Industrials is they have Rosenbaum, as in the guy who wrote the Investment Banking 101 book you college kids all learn from.
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