I am looking at a career in public finance. I want to stay in the midwest and Stifel is a popular firm in my area. What should I expect in terms of hours, comp, general work environment?
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Ah, diving into the world of Public Finance at Stifel in the Midwest, are we? Here's the scoop based on the most helpful WSO content:
Hours: Expect the usual investment banking hours, which can be long and unpredictable. While Public Finance IB might be slightly more forgiving than corporate IB, you're still likely to clock in 60-80 hours a week, sometimes more during busy periods.
Compensation: For a PubFin analyst, the base salary might be in line with what you'd expect in corporate IB, but bonuses tend to be lower. If corporate IB analysts are pulling in bonuses of 50-80% of their base, PubFin bonuses might be a bit more modest. However, specifics can vary based on the firm's performance, deal flow, and your own contribution.
Work Environment: Stifel has a solid reputation in the Midwest, and you can expect a professional atmosphere. But remember, the culture can vary from office to office. St. Louis being their HQ, you might find a strong network and support system there. The general work environment in Public Finance is often considered to be collaborative, with a focus on serving public entities and managing municipal securities.
Remember, these are just general insights. For the most accurate picture, try to network with current or former Stifel employees, and maybe peek at some threads on WSO for the latest gossip. Good luck with your career in Public Finance – it's a noble path, helping fund the infrastructure and services that keep our communities running!
Sources: What to expect/how to excel in a SA IB internship, Expectations vs reality of being a first-year IB analyst, Public Finance IB Bonuses, 10 Friendly Reminders While Networking for SA Programs (from a BB Analyst Perspective), Which school for accounting?
Hours: Max 60 a week (closer to 50 in this environment more often than not)
Comp: Base probably 85-90, probably not more than 115-120 including bonus
Environment: Culture seems great. I know multiple people spanning a few offices and they’re great people. Not sweaty in comparison to other IB groups
reach out to people on linkedin that used to work there and ask them
I work in a BB in PubFin and had a junior at my firm who interned in Stifel PubFin in a different non-Midwest office. My takeaways are below:
In summary, this is a good job in the scheme of life, with good WLB and potential for >$100k total comp right out of school in a MCOL/LCOL area. If PubFin is not for you, you'd likely have a shot of moving internally at Stifel or another similar bank for a different FO role.
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