Jefferies - 2016 Reputation / Exit Opps / Consensus?
Hey guys,
Rising junior at semi-target here. I'm curious about Jefferies and how they are typically viewed on the street. They just picked up a few of JPM's industrial bankers and seem to be performing well on a broad range of transactions.
As I prepare for 2017 SA recruitment I was hoping I could get some insight from either students that have been through the process or analysts/associates that work on the street and know about jefferies. I used the search function but wasn't able to find any relevant, recent information.
Any advice is greatly appreciated - thanks.
They're a solid shop. Top bank in the MM space but a cut below BBs and most (if not all) the EBs. While their analyst program is a generalist one, your experience depends heavily on which group you work with the most and eventually get placed into, as there is quite a disparity in the quality of their teams.
For exits, the best teams would be the houston energy team, the HC team (although deal flow is still good as most of the UBS bankers are there, it has taken a hit since Sage Kelly left), and the M&A group. Tech and restructuring are also decent or so i've heard.
they're a solid shop, but below BBs/EBs in terms of reputation and the experience you can get there. The advantage you have at an MM like Jefferies is that you get the lean deal teams and higher levels of responsibility that EBs offer, as well as the exposure across products that BB coverage groups get (if you're comparing between coverage groups).
Downside is that their deal sizes are smaller and the transactions are therefore less complex -- limiting your exposure. Additionally, while a generalist program, you will be placed into a specific group eventually, and your experience will differ vastly between groups.
Strongest groups historically are Energy (Houston), HC and M&A. Other decent teams are Tech and Rx.
bump
Talked to one person in the Chicago office doing industrials. Deal flow is pretty strong and they do all kinds of industrials. However, the office is pretty small and only has about one or two analysts, not sure if they are looking for SA tho. Don't know if NYC has an industrials group, historically they are strong on healthcare and energy
I think they're decent. A notch lower than the standard top banks but after BBs/EBs it's probably one of the better shops for a good analyst experience and exits. You get the lean deal teams and increased client interaction in EBs, as well as cross product exposure you get in BBs (for coverage groups), albeit with smaller and less complex transactions (which is why exits are limited to MM if you're looking at PE).
Growth post-crisis has slowed down, and they've had some attrition in the MD ranks. However, they've done some recent hiring on the senior level.
I've been led to believe that there is quite some disparity in the quality of teams and groups within the IBD though. e.g. Energy/HC/M&A are very strong, TMT/Rx decent. Not too sure about the rest. While their SA/Analyst program is a generalist one, you'll mostly work with the same couple of teams, and willbe placed into a specific group eventually.
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