Why do Jefferies bankers give such SDE
I’ve coadvised with them, been interviewed by former Jefferies bankers for buyside/lateral IB roles, and have met them in the wild. They’re so abrasive, constantly trying to catch you with “Gotcha!” moments and prove how smart they are. When we work with them they gatekeep information and materials and don’t want to collaborate. When I’ve interviewed for buyside/lateral roles and got a former Jefferies banker interviewer they always were the only one in the process to excessively grill me and would cut me after even if I did well (this has happened at various stages in 3+ different processes). For context, I’m at a good bank (Citi/MOE/LAZ) and went to a target school. Idk if they actually think they’re that far above us or if they are just overcompensating for the massive chip on their shoulder, but I haven’t experienced arrogance like theirs even from people at top banks. Just so weird and SDE. Going forward I will be actively avoiding them and their attitudes.
I read this as Why do Jefferies bankers give STDs?
That is also a question rooted in fact
Really going through all that to try to bait “congrats on citi” replies?
Congrats on UBS!
I can relate with how my first interactions were with the bank in the early - mid 2010s. I found the bank back then to be kinda cultish / fratty and kinda arrogant in their own world. I ended up going to MOE for a couple of years and worked with their RX team which was a JEF lift out.
Now after leaving MOE and having some other experiences and interactions with Jef including meeting Rich/Brian in person at a jef investor event and others, my opinion changed in them.
Yes they are still kinda arrogant and “in their own world” but I have a better opinion on them. They can be nice and helpful but it’s kinda like Jef or bust for them. They may not be as intertwined with the other banks / broader economy (they don’t do earnings calls fwiw like every other public IB) so they do kinda have their own island on Madison Ave.
Just understanding that psychology and the fact that they kinda see themselves as very independent and the next time a crisis shows up they are on their own (compared to the other big banks and even boutiques who seem to be more part of the “herd”), has helped me better relate and do business with them.
Since I changed my mindset I got 2 solid stock tips from their ER department (Spotify a few years ago before the drop and GEV when it was recently spun off), so hard for me to say bad things about them at this point. lol.
Good luck if you have to deal with them again. Cheers
lol I didn’t know they don’t host earnings calls… handler too busy to talk to analysts now?
Tbh I respect them for owning that niche of market that they operate in. They do the sketchiest deals and are annoying counterparties to deal with. But they do pretty well for themselves.
“I respect them… they do the sketchiest deals” - like first brands lol
Why is this so accurate lol
who tf names a bank “Jefferies”
Their name is so annoying and every time I spell it I have to look it up to make sure I’m including all the necessary “e”s
Most people purposely don’t include all the e’s
My interactions with them are fine and ppl in my groups also like them in general. But maybe it’s just because how more toxic we are lmao
They know they are inferior from the day 1 and gatekeep/act like assholes/go full hardo to make themselves feel better.
What is Jefferies? You mean SMBC?
Their compensation structure at the senior level incentivizes extreme short termism and transactional behavior on all occasions. This culture permeates downward.
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I find Moelis at least as bad if not worse
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