What tf is going on with jefferies
Im an analyst at mid tier BB - turned down SA at jef. Yes, it’s likely i dodged some terrible culture bc it seems like very jef group i hear people talk about is a sweatshop, but i cant help but think that with the way jef has been climbing the league tables i may have missed out on having jef as a better brand name on my resume. Is there anything to what im thinking or is this just 20/20 hindsight?
I keep thinking that if jef keeps this roll going in a few yrs the brand name will be worth far more than it is now, which currently i think is still pretty solid
Jefferies is already a ridiculously large and competitive firm to work at. Yes, in a few years it will probably be just a little under the big 4 BB’s.
But the culture that you would need to endure to keep this growth and pace is absolutely horrid. They know they can’t justify diminishing their bonus pools more by hiring more junior bankers (juniors are already mad at such disappointing bonuses) because they’re providing fixed bonus and comp structures to MDs they poach, which is the primary focus to continue growing their business.
Plus they rarely promote MDs internally and books are gate kept by the MDs. If you’re going to stay in banking join Jefferies as a MD, but not before. Joining the Analyst program to leave for buyside is fine, but climbing up the ranks is a mistake.
Why you'd join Jefferies for a career i dont know.
It's purely for MM PE exits.
MD promotes are super rare and they are only interested in buying in talent rather than developing it.
You dodged a bullet. Terrible place to be anything but an MD.
If you are already an analyst then why bother
Pay all the juniors awful bonuses while grinding them until end up at the hospital.
I started FT here after my SA stint. I’m actively looking to lateral. This isn’t sustainable…
what group? will be there ft feeling worried
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