Anyone have insight in terms of deal flow and exits and comp(bonus wise I suppose) ? Notably looking at their Tech/Industrials/Energy groups
I’ve seen some chatter on here about them having a strong tech? Group out of Boston but not sure apart from that/would love to hear why and some merit behind that.
Thanks
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Tech & Services is very strong - amazing dealflow and comp (highest paying group at RJ by far). Most MM banks have decent TMT groups because of how large the space is and the number of middle market deals that get done.
T&S exits have been very strong - your usual GE / MM PE exits + a few MF exits. A-KKR, Carlyle, Warburg, and a handful of others I believe.
Appreciate the detail - do you have any insight into RJ tech out of Boston vs. their SF or NY office ? SF looks much smaller so do they just end up assisting Boston or have their own thing going ?
Also do you know much about the sponsors group? exits wise and modeling responsibility wise ?
SF has had 2 recent MF exits so wouldn't say they are weak at all. Boston is their best performing office, but exits tend to skew towards MMPE / GE due to self selection / firms in the local area. SF covers software and other "Silicon Valley" tech, while Atlanta has a big focus on IT software. Forget what BOS / NYC look at.
Sponsors group has very limited modeling and exits - would avoid.
Bump
Tech is very strong, near the top of MMs. Industrials is pretty weak relative to MM peers.
Boston office has four mds that focus on fin tech, payments sw, data information sw, and verticals sw respectively
For what’s its worth, from what I can tell rj culture is super solid and tight knit. Good group of people across the board
Everyone I’ve spoken to has been nothing but great
I've only done calls with them (as opposed to actually working with them) so take it with a grain of a salt, but everyone there seems like genuine and nice people which is more than i can say for a lot of other banks and boutiques.
Tech also runs out of Atlanta as well and is strong there.
RJ Tech average deal size is like $800mm. Definitely not LMM and absolutely competes with JEF and other top MM in the space. Also would 100000% would rather be at RJ T&S than UBS Tech in 2021.
RayJ is LMM and tech team is MM; JEF tech is better than Raj and I said UBS before SVBL.
As for the idiotic kid below, I don't speak to prospects on this forum as they are a negative value-add, the same way I'd never interview with a PWM place despite recruiters pinged every week for vacancy at RayJ as their analysts lateraled to my bank and its peers during covid.
Damn the poor target kid got rejected from Raymond James and got his ego crushed 😂
I don’t think anyone on here is advocating taking RJ over GS, but I think important to think about MM as an option for lots of people, especially in non-NYC cities. Also certainly are some MM groups that punch above their weight, both in terms of comp and exits. Know a few people that took offers from places like Blair over DB, which I think is a justifiable move.
Yeah WB over DB for sure and they pay 110 base now; However RJ is no where near WB and these new hires are praising Rayj tech like its Qatalyst.
No one is comparing RayJay to EBs or BBs, but when you compare them to peers like HL, Baird, HW, Lincoln, Stifel, Stephens, etc. RayJay has a stronger tech practice than any of those. WB is definitely stronger, but RayJay punches above its weight in tech. RayJays other groups aren’t anywhere near its tech group
Might be a dumb question, but what exactly makes their tech group so much better? Ya they work on more/bigger deals maybe, but why do they get those over the other firms
1) RJ has undergone pretty rapid expansion in the past 5 years in pretty much all aspects of IB. The Boston T&S office used to be Lane Berry, a very strong tech boutique that was acquired in 2010 and formed the backbone of the RJ tech group.
2) Part of the expansion has involved RJ offering rainmakers / MD hires very lucrative contracts, more EB-like than BB / MM. Very large percent of the success fee goes directly to the MD (compared to BBs, which pay MDs a standard bonus like analysts out of a bonus pool) and it's close to 100% cash (BB bonus can be heavily stock-weighted). They've also provided poached MDs with incredible amounts of freedom / discretion to run their groups. This has led to them poaching a shit ton of great MDs from across the street.
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RJ consumer is absolutely lighting it up recently. Financo acquisition has really bumped up deal flow and it’s now rivaling the tech group in revenue brought in to the firm.
Where is that group located?
Boston, NYC, Chicago
How about RJ's diversified Industrials group in Chicago? Anyone has any idea?
Security & Safety group is solid, their deal flow has been insane with the average deal size being ~$300MM with a few billion dollar deals
How has comp been recently?
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