A Warning on Tobin & Co.

I saw this post on Glassdoor and can confirm this is 100% true. Do not be blinded by the positive reviews as Justine (the MD) forces her employees to write them.

-Terrible culture with toxic work envirnoment
-Employees are "highly encouraged" (i.e. forced) to leave artificially positive reviews on websites like this to change the fact that the company is viewed as a joke in the business, as it should be... Anybody writing a negative review is considered like an enemy to eliminate and I know for a fact that the company keeps track of these people's careers to try to get them fired from future employments, especially if they happen to still be in the area. Hence why I needed to hide my identity on glassdoor and why I cannot give more detailed info here. There is many former employees that could be writing this review so I am safe like this and I am quite sure they will not be able to figure out who I am.
-The whole business model is to exploit the dream of young kids to become bankers and deceive them that the brand Tobin will help them breaking in somewhere else while in reality anybody looking at your CV and seeing Tobin will think you are worth nothing. Literally anything else in your Cv would be better, those that did succeed in getting meaningful jobs after working at Tobin did so because of their own merits and despite Tobin, not because of it. Stay away! P.S.= Apologies for possibly typos, I wrote this from my phone

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May 12, 2020 - 2:29am

Real late to this thread. But I checked her twitter out today and her most recent tweets are all her ranting at flight attendants. Also had a tweet about how Kobe was a rapist after he died. I mean, this is all too good to be true lol

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  • Anonymous Monkey
  • Rank: Chimp
Aug 13, 2019 - 1:38am

I wonder what the real reason she left BAML as an MD is. Chick probably went batshit and had to spin getting pushed out

Aug 13, 2019 - 2:20pm

Literally closed two deals in two years with a total value of $20M. Fee revenue is probably less than $2M. I am surprised the shop is still alive

Array
Aug 13, 2019 - 8:53pm
stormedlloyd:

Literally closed two deals in two years with a total value of $20M. Fee revenue is probably less than $2M. I am surprised the shop is still alive

There is no way she took home anywhere near $2mm, but there are minimal operating expenses. She's keeping all of the revenue for herself, so without having to pay anyone else, it's not a bad gig for her.

Aug 14, 2019 - 9:25am

assuming fee% of 3% - no idea if that's right but seems reasonable:

Rev - $600k
Wages - $0k
Rent - $100k (est $25 per sq ft @ 4000 sq ft)
Pre-tax profit - $500k
Taxes @35% - $175k
Earnings - $325k

So ya if they do a deal a year we are talking Aso 2ish comp.

If there is $150k on the payroll (legal, a VP, idk) - then after tax profit down to $230ish, and we are into Aso 0/1ish territory

Aug 15, 2019 - 10:54pm

how does tobin sf tech compare with other tech groups (Q/GS/MS Menlo)? Understand this office has a better culture than the Charlotte group.

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Aug 16, 2019 - 4:20pm

brock lesnar

What concert costs 45 cents? 50 Cent feat. Nickelback.

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Aug 28, 2019 - 11:40am

Apparently their only associate Story Cowles is heavily connected to the Jeffrey Epstein case. Don't have enough points to post a link but he was mentioned as having visited Epstein in jail more than 130 times by CNBC. Was also a person of interest mentioned by the DailyMail as far back as 2011.

Aug 28, 2019 - 12:31pm

Apparently Story Cowles has been acting as a personal assistant to Jeffrey Epstein... This is so weird. Also, to address the above comments, his parents are heirs to a very large fortune (built from the railroads industry).

Edit: He is also currently dating a girl called Sarah Kellen, who presumedly has been acting as one of Epstein's accomplices for many years (helping recruit young girls, etc.)

Aug 28, 2019 - 3:09pm

This is pretty fascinating. I will say a quick google search shows that Sarah Kellen now goes by Sarah Kensington and is married to Nascar driver Brian Vickers, so not sure your comment is accurate.

Aug 28, 2019 - 10:58pm

I feel like this would create a very large conflict of interest in the office because Justine claims to be an avid supporter of women empowerment and all that other women nonsense. Unlessssssss........ the whole company is a front for something larger.

Sep 3, 2019 - 6:18am

Fuck me you can't make this shit up. The Glassdoor is ridiculous, especially the firm's replies. You might not get paid but at least there's free coffee and "sometimes the boss buys the fancy stuff for the entire office". I would love to hear some stories from former "Tobinites"...

Sep 3, 2019 - 7:04am

Just checked out her Twitter account - seems like a balanced and nice human being to me:

-Carpet was supposed to be replaced by @VUEclt in 1 day. Mgt assured us several times. Crew of only 2 people didn't show up til noon. We came home to this + an unlocked empty apartment at 8:00 at night. The crew returned, then left us to clean up their mess #LuxuryLiving #disaster

-The top of shoulder seam busted out of my @JamesPerse boiled wool jacket. How does JP respond? Repair? Replacement? I have hardly worn the thing. Let's see! (No wonder
Sak kicked them out.

-Bought a bed from @Westin - my husband's decision, not mine. It was delivered DAMAGED. We returned it through the local delivery company. We received NO PAPERWORK and now Westin Home is giving us a hard time about a refund. When they are dealing with a shady delivery company.

I can't see her photo but I'll bet anyone here 100 Euros that she has the "speak-to-the-manager"-haircut!

I don't know... Yeah. Almost definitely yes.

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Sep 27, 2019 - 11:10am

Crazy thought here, I interviewed for an internship at Tobin back in 2015 a month before graduation. Came to finance major late, regional state school, and had no experience, mediocre grades but good leadership on campus.

Instead I took a crappy credit analyst job making 42k a year because I didn't want to move back in with my parents. It's extremely hard to negotiate up to a decent pay grade from that, working for free could've been a better strategy. I'm sure I could've leveraged that internship to a better commercial banking gig that paid more and taught me actual underwriting skills. But I was dumb and didn't realize how narrow my responsibilities would be at that first job.

There's a difference in student who to tried to recruit IB for years and didn't make the cut vs students who simply weren't aware/didn't try. Something tells me most of the haters are in the former group.

Sep 27, 2019 - 1:36pm
Milesthebest:

Crazy thought here, I interviewed for an internship at Tobin back in 2015 a month before graduation. Came to finance major late, regional state school, and had no experience, mediocre grades but good leadership on campus.

Instead I took a crappy credit analyst job making 42k a year because I didn't want to move back in with my parents. It's extremely hard to negotiate up to a decent pay grade from that, working for free could've been a better strategy. I'm sure I could've leveraged that internship to a better commercial banking gig that paid more and taught me actual underwriting skills. But I was dumb and didn't realize how narrow my responsibilities would be at that first job.

There's a difference in student who to tried to recruit IB for years and didn't make the cut vs students who simply weren't aware/didn't try. Something tells me most of the haters are in the former group.

That's $42K more than Tobin pays

Sep 30, 2019 - 1:18pm

Ummm, a "crummy credit analyst" role can easily turn into FO IB at a reputable firm, leveraged credit shops, or a host of other desirable finance careers... I had a guy that wasn't able to convert his summer into full-time due to reasons beyond his control, went into commercial credit, and now has a pretty desirable family office gig. I doubt someone from Tobin could have done the same without a stint at a legitimate employer.

Sep 30, 2019 - 6:43pm

Not disagreeing with you. When I said crummy I was referring to the particular bank's structure. They really shouldn't be selling it as "credit analyst" to college kids. I wasted 3 years before leaving for a normal credit analyst job I'm in now which I'm very happy in.

But it would have been nice to get here 2.5 years ago.

Nov 14, 2019 - 9:08am

I interned at Tobin out of college. I will agree that going to work unpaid right out of school seemed crazy to me, too. But coming from a non-target background with zero connections in the industry was enough for me to jump at any chance I got to get my foot in the door somewhere. Ultimately, the experience gave me the chance to land an analyst role at boutique in NYC that I never would have been considered for having not interned at Tobin. Other folks have gone to land roles at Goldman, Evercore, BAML LevFin, Deutsche (RIP), Citi, Jefferies, GCA, Houlihan, Citadel, among others.

Since most of you on here seem to have a lot of time on your hands, I'd recommend reaching out to some of these folks on LinkedIn personally and asking how their experiences were firsthand. See what they have to say.

Also, sorry about the lack of banana points. Whatever those are...

Nov 14, 2019 - 10:09am
manhattanite:

Deutsche (RIP)

Lol at this addition just to make it seem somewhat "believable" that this wasn't written by Justine

Array

Nov 14, 2019 - 2:30pm

Can you please do an AMA on the number of LBOs you have done and what you got out of them? Would love to hear your rags to riches story.

Apr 25, 2020 - 11:32am

How am I just learning that a Tobin associate was Epstein's personal assistant????

Array
Mar 5, 2021 - 5:28pm

When I saw the homepage, I assumed it was a Canadian bank but nope...based in Charlotte, with a homepage picture that shows the TD logo on 2 different buildings in a different city in a different country

Feb 2, 2021 - 1:43pm

Well John, as someone who interned at Tobin perhaps I can shed some light on this...or maybe disregard all that I'm about to say so that you can peddle this false narrative, either way it's your choice. There's been a toxic culture nurtured on this site where people look down on experiences that aren't BBs or elite boutiques or MM banks. Banking is a big world and a competitive one; and not everyone has parents to hire them tutors, pay for their tuition and guarantee them top spots in finance jobs. Many have to work harder to achieve the "dream" and we are all starting at different places. The Tobin internship gives folks like myself a pathway to getting some good short-term experience which you can then leverage to bigger opportunities. That's a pretty sweet deal imo, even if others look down on it. 

And this site keeps peddling this B.S. narrative about Justine being a she-devil. Nah, she just has high expectations on the work she wants the firm to produce and it can be too "demanding" for some. But honestly, what the fuck do you think your MD at the "top shops" are gonna expect from you. No one will hold your hand and walk you to success, that shit is earned. If you think the Tobin culture is "toxic" and "cruel", just give up already because life in finance is gonna beat you like a drum. Hope this helped and please stay COVID-free.

Feb 2, 2021 - 2:50pm

Nah, dude, I'm not Justine. Have a feeling you're in troll mode rn so I won't give you the satisfaction. This site has been turned into a cesspool of trolls. There are other forms of entertainment, which are healthier than this one. Seek them, then seek help. Don't forget to get vaccinated. 

Feb 2, 2021 - 3:34pm

Interned here and so did my roommate. Both of us got an opportunity to break into IB because of Justine. No this isn't fake. This was brought to my attention by an old colleague. She gives people an opportunity to get exposed to IB. Period. Say what you want but 1) she makes it clear she doesn't pay and 2) certainly doesn't overwork people like any other IB Intern program or Analyst program would. My two cents from someone actually in the industry. There's worse programs and if you are scratching at the door, maybe just knock on hers.

Feb 3, 2021 - 9:06pm

Hey, friend. I'm happy it worked out for you, but here is some piece of advice that I never really understood when I was in undergrad or even when I was starting out: the way you treat people below you really says a lot about you, and there is much more expected from those who have been given a lot. If you are the owner of an investment bank, making millions of dollars per year and you cannot even pay your own interns who are undoubtedly (indirectly) generating revenue, that really says something about you. If you make money off of someone's back, and you do not reimburse them, that's stealing, plain and simple, regardless if they knew this arrangement going in. A used car salesman selling you a $10,000 car for $40,000 at a 20% APR spread over 72 months is not doing anything illegal, but that does not change the ethics of the situation. Ethics matters. Ask Henry Kravis who once said, "If you don't have integrity, you have nothing. You can't buy it. You can have all the money in the world, but if you are not a moral and ethical person, you really have nothing."

Feb 3, 2021 - 9:30pm

I disagree with that characterization, but at least you used words and complete sentences to make your point rather than troll. Some people complain that Justine treated them poorly; I don't know their experience so I cannot speak to it. But I'll speak to mine. It's pretty simple actually, don't fuck up, and you and Justine will get along just fine. And when you do fuck up on important work, own your mistake and fix. I've actually done that a couple of times and our relationship was just fine. As to the money, I do not know how much Tobin & Co. brings in regarding annual revenue. Anyone speaking to it is absolutely lying because they don't know it either. Although analysts don't get paid a salary, they do get paid a monthly bonus based on the firm's performance (and yours) to help you cover expenses. If you can find better, pursue it. This whole things has become like a sport/entertainment to some people. Meantime, someone's reputation is being ruined by people who've never met her and are too chicken shit to say whatever they say with their real names attached to it. Bottomline, I disagree with the characterization and the character assassination.

Mar 5, 2021 - 11:11pm

Justine, hear me out because I think this is a lucrative pitch. I've already got another well known and equally successful woman & finance icon, Paige A. Jennings of Lazard Asset Management, signed on and looking for a co-star. We're going to film a new segment focused around powerful women in the workplace. We'll put you two in a room with a few dozen men to manage as a team and just let you do what you do best. I think it'll be a real shining moment for feminism and female empowerment, and I truly believe more girls aspiring to work on Wall St. will be inspired by you two leading through example.

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  • Intern in IB - Gen
Feb 3, 2021 - 10:11pm

bigcoolguy is Justine Tobin's burner. The syntax of the writing is similar to her tweet threads, and the tone is very confrontational, just like her tweets. The "get vaccinated" and "please stay COVID-free" remarks are another giveaway. Her Twitter is filled with complaints about people not social distancing and not masking properly. 

Justine, if you're going to use a burner, at least try a little harder to conceal your identity. 

  • Intern in IB - Gen
Feb 4, 2021 - 6:28am

With how obsessively she posts on this forum, could Justine Tobin be the first to reach "The Addict" rank? 

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