Citi or Jefferies full time offer (both IB NYC)

ricardo67's picture
Rank: Chimp | 7

Hey guys,

I have an offer for full-time IB at both Citi and Jefferies in NYC. I know a big part of my decision will be the group that I get into at Citi, but we don't find that out until after training and they can't make any guarantees. I would like to be in either m&a or comm there, but who knows what will end up happening. Anyway, where would you choose to go? What place has a better name right now in terms of exit opps?

Also, if anyone has any color on the groups that are best at Citi, please let me know. Thanks for the help.

Comments (50)

Oct 20, 2010

I would go for Jefferies since there is an ambiguity in terms of the groups that you will be placed in Citi

Sep 14, 2016

I would go Citi

Oct 20, 2010

unless ur in a niche group such as renewable energy at jeffries and have an interest in alternative energy / vc afterwards, CITI HANDS DOWN

Sep 14, 2016

I'll definitely go Citi. People there I talked to are really nice and help you grow. Being a BB, more explosure to higher profile deals and opportunities. Also better exit opportunities.

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Sep 13, 2016

Why renewable/alternative energy ? Is Jefferies better in that sector ? Thx !!

Sep 14, 2016

And the greater international presence is also a big plus, at least from my consideration

Oct 20, 2010

citi. didn't get an offer there while i got one at mm's including jeff. wanan trade?

Sep 14, 2016

Citi. I hate to break it to you, though- as an analyst you will be nothing more than a cog regardless of where you go. This bureaucracy talk will not affect you at the junior level.

Sep 14, 2016

I mean more that because Jefferies is growing rapidly, it might feel more exciting competing to grab more mkt share etc. rather than just being another guy at Citi which has been the same for years and is gonna stay the same for years. Is there any truth to that do you think or is it just BS that Jefferies employees say?

Array

Sep 14, 2016
undefined:

I mean more that because Jefferies is growing rapidly, it might feel more exciting competing to grab more mkt share etc. rather than just being another guy at Citi which has been the same for years and is gonna stay the same for years. Is there any truth to that do you think or is it just BS that Jefferies employees say?

None of that really has to do with your job, though. For Jefferies to win more market share in IB, it has to win more mandates. For Jefferies to do that, its MDs have to bring in more business. You as an analyst will not play a role in that whatsoever.

Oct 20, 2010

Citi should be a no brainer here. BB vs MM.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Sep 14, 2016

As an summer intern, what you do are almost the same at any bank. But a BB name would def open more doors for you in the industry. Also Jefferies has a generalist program, which means even if you're returning full time, you'll go through the group selection competition with the rest of the FT class again. Citi def seems to be a better deal for me.

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Oct 20, 2010

but what if he gets into a shitty group at Citi ? Jefferies is a safer bet

Sep 14, 2016

@jtown4372 out of curiosity, what did you end up choosing?

Sep 14, 2016

i chose the Citi one

Array

Oct 20, 2010

but what if he gets into a shitty group at Citi ? Jefferies is a safer bet

Sep 14, 2016

Good choice, Easier to BB => EB than the other way around. My .02

Oct 20, 2010

but what if he gets into a shitty group at Citi ? Jefferies is a safer bet

Oct 20, 2010

Since citi splits up capital markets, any group at citi > jeff. league tables and pe exits say it all.

Oct 20, 2010

Jefferies is not pure generalist, group assignments after a few months and there are large variations in the quality of the groups. On a whole I would say Citi

Oct 20, 2010

Thanks for the responses so far. They are much appreciated. Any insight as to the best groups at Citi?

Oct 20, 2010

their industrials and M&A are probably the best. but it's tough to get in.

Oct 20, 2010

Citi M&A, Consumers (solid exits last year), Energy (now that they've plucked UBS) and Coms are quite strong. FIG is solid as well. I believe Media, Tech and Industrials are all solid.

Oct 20, 2010

Industrials and Comm without a doubt. Both top on street and all internal modeling.

Oct 20, 2010

There are many more solid groups at Citi than there are at Jefferies. M&A, FIG, Industrials, Consumer, TMT, Comms at Citi are all very very strong.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Oct 20, 2010

at least going to Jefferies will allow him to get into a group he likes

Oct 20, 2010

is this a joke? bulge bracket or jefferies? is that the tough decision being debated?

Oct 20, 2010

If you really liked the folks at Jefferies and think you can learn a lot from them, Jefferies is probably the best long-term choice.

But all things being equal, Citi is the more recognizable name and probably offers more opportunities. So if there's no clear- I got into group X and the manager there is brilliant and wants to share his wisdom with me, I would lean towards Citi.

Oct 20, 2010

push, anymore thought?

Oct 20, 2010

We had a WSI grad go to Citi in their alternative energy group and he likes it very much. Don't know too much about Jeffries. I also have to agree with IlliniProgrammer in that Citi is the more recognizable name.

Oct 20, 2010

however Jefferies will lead you to more favorable PE exits

Oct 20, 2010
banker11:

however Jefferies will lead you to more favorable PE exits

Citi has megafund potential and Jeff doesn't. Trolls really suck lately on these boards. people are also evil and only try to help themselves.

banker11 is a reject/onhold at Citi's 10/15 superday and is trying to open up spots.

//www.wallstreetoasis.com/forums/citi-superday-1015

here are his string of posts in that thread

banker11: anyone heard back on friday?

banker11:anyone heard back Today?

banker11:anyone received the offer today?

banker11:Banka4life : do you think they will lift your "hold" ?

bulge4lyf: Any of you hear back then?

banker11: nope. how about you bulge4lyf?

Best Response
Oct 20, 2010

Jefferies is underrated here - it has been growing and will lead to solid exits - kids do go to top 50 PE (at least 5-6 this year going to 6-10b+ funds firms, out of a class of about 20 by august, and honestly many of the analysts didn't apply to PE)

BUT Citi is also underrated and it will open the possibility to Blackstone, KKR and significantly better chances at top 50 firms

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Oct 20, 2010

This decision should come down to one and only one thing:

If you sincerely want to do Healthcare banking, help PE firms prospect Healthcare opportunities and/or work in Corp. Dev. for a top Healthcare firm, go Jefferies.

If none of the above are true, go Citi.

Oct 20, 2010

alright, i will weigh in on this. perhaps some of the people on the board will think i am crazy, but i took a jefferies offer rather than continuing to interview. i had final rounds with lazard, evercore, citi, barclays, and a number of other banks later on lined up.

i turned them down and just took jefferies. yes, it's not a great bank, but the people i have met at jefferies were the most down to earth of any i have met on wall street. and its a little better to join a place that you know is expanding and may very well become the next lehman or bear stearns 10 years down the road. kkr isn't the end goal for all of us, and frankly, i don't think i want to work at kkr. great place. very prestigious, but not for me. in my short and insignificant life, i have met partners at kkr and goldman, and for the most part, they seem to be unhappy.

and believe it or not, jefferies average deal size has been rising for the past few years, and plays with the big boys in healthcare, energy, alternative energy, media, and a number of other sectors. strong restructuring and leveraged finance practices too. m&a group also has alright exit opps. granted its not the biggest firm nor does it have the balance sheet that other banks have to win deals, but it still manages to win deals against the goldmans and morgans of the world on a fairly regular basis.

so that was my thought process. yeah, i'm probably not going to kkr after this, but i won't have nightmare-ish stories of getting hit on the head with a printer or being assigned accounting problems during whatever downtime i might have or suffer the hierarchy suffered at bulge brackets. i worked at 2 arguably "more prestigious" banks than jefferies before coming, and well, i hated it.

Oct 20, 2010

Citi's group selection process is heavily focused on personality and fit. As long as you're a likable guy, you'll definitely get into your top 2 or 3 group choices - please don't take one offer over another because you're afraid of getting placed into a shitty group at one, that just means you lack confidence in yourself. Every BB has shitty groups, some more than others yes, but the groups at Citi are definitely not M&A or bust - it's odd that some people have that perception.

I would say that Citi definitely has better exit ops. If you are a top analyst, placement into a top 10 PE shop is yours to lose. Ultimately though, you should go where you like the people the most and where you think you'll learn more.

Ranking groups is usually silly because it's infinitely subjective. But if only speaking in terms of deal flow, it's general consensus that M&A, Consumer, and Communications (includes Media, but not Tech) are the best. I would place Industrials (Transportation at Citi is sick), FIG, and Energy (after poaching UBS' entire top group) at a very close 2nd tier. Energy has the potential to be one of the top groups on the Street, but that's a little uncertain right now and only time will tell (also the top MD's are in Houston).

Oct 20, 2010

Interviewed and offers from both. Didnt like Citi culture and people at all. More deal flow at Jefferies and growing explosively. For long term prospects, I would go Jefferies, but both are good choices. Additionally, I met two interviewers that were SAs at Citi and were turning down their offers to return to go to Jefferies.

Aruubato is right though. People at Jeffs are much better than anyone I have met. Citis name is bigger, but indeed tarnished.

Cannot go wrong either way.

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Oct 20, 2010
IBslave22:

Interviewed and offers from both. Didnt like Citi culture and people at all. More deal flow at Jefferies and growing explosively. For long term prospects, I would go Jefferies, but both are good choices. Additionally, I met two interviewers that were SAs at Citi and were turning down their offers to return to go to Jefferies.

Aruubato is right though. People at Jeffs are much better than anyone I have met. Citis name is bigger, but indeed tarnished.

Cannot go wrong either way.

This again, is bullshit. This kid got rejected by Citi.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Oct 20, 2010

More deal flow at jefferies? Let's not get absurd here. Citi is still 3rd in global M&A while jefferies is 15th. not to mention BB's don't even go for many middle market deals and doesn't even compete in the majority of the deals that middle markets like jefferies, piper jaffray, wiesel, hlhz, baird, and other mm's do.

Oct 21, 2010
boutiquebank4life:

More deal flow at jefferies? Let's not get absurd here. Citi is still 3rd in global M&A while jefferies is 15th. not to mention BB's don't even go for many middle market deals and doesn't even compete in the majority of the deals that middle markets like jefferies, piper jaffray, wiesel, hlhz, baird, and other mm's do.

no. this is a fair comment. i suggest that you don't spout bullshit if you were just a summer analyst.

yes, jefferies as at 15th, but look at the size of the ibd at jefferies. it works out to more deals per analyst. and honestly, don't lump all the middle markets together. piper jaffray, baird, weisel all tend to advise on the low end of the middle market.

also, believe it or not, moelis advises primarily on the middle market. yes, they occasionally get some major restructuring mandates but as a 3rd or 4th advisor. i've worked at bbs before (albeit tarnished ones), and i can verify that we pitched in bakeoffs against the likes of houlihan and jefferies.

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Oct 20, 2010

i'm trolling IBslave22's jefferies thread. u can tell he accepted there and got rejected at bb's (but so did I, but at least i dont troll for jefferies).

check out his jefferies thread where he tries to compare it to "top ibs". i am trolling it hard.

Oct 20, 2010

I have an offer at Citi as well and am still definitely considering taking it. Still havent decided which one to take yet but am leaning towards Jefferies based on the people I met with and future prospects, that is all.

Oct 21, 2010
IBslave22:

I have an offer at Citi as well and am still definitely considering taking it. Still havent decided which one to take yet but am leaning towards Jefferies based on the people I met with and future prospects, that is all.

You have an offer in Citi pub fin according to your thread.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Oct 21, 2010

^ ROFL PWNED

Oct 21, 2010

^ ROFL PWNED

Oct 21, 2010

aruubato: i never said they dont overlap but sadly you are wrong and I have been working at a boutique for years now (3rd year).

Feb 3, 2011
Comment
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Sep 13, 2016