Jefferies Fixed Income
Can anyone provide info on Jefferies' Fixed Income department? I'm currently a junior and through some connections I think that I may have a good shot at an internship there, but I wanna know how it compares to BBs. Is it comparable to Morgan Stanley FI? Or a smaller JPM/DB/GS? Or worse than both groups? Any information would be greatly appreciated. Since it's a much smaller bank, I've had a lot of trouble finding information on the department.
Their fixed income is actually the only good part of the bank (commodities as well now that they've bought Bache). When you compare it to the bigger banks you have to remember that it is less regulated than JPM / DB / GS etc because it doesn't hold any customer deposits. They can still do a lot of prop trading (and they do!).
Securitized Products is blowing up, with Finra/SEC/Sigtarp accusing the company of skimming on trades with a TARP-backed counterparty. Apparently the group head has been fired / is being investigated personally as well.
Everything else has been cruisin' though.
Thanks guys. Asatar, do you mean that they employ prop traders? Or that their flow traders also take on a lot of prop positions? And yea, I was thinking because it is much less regulated that it would be a much better trading environment compared to other banks.
Anyone else have any thoughts? if I do get this offer and I also get offers from BBs, I don't know how I would compare them.
I was under the impression that they really don't do a lot of prop trading, at least not pre-merger.
im waiting on hearing for SA FI from them they said i would get the call during the middle of this month, did you hear from them? non-target here
Bump...
when i visited them the guy told me if you're interested in s&t don't go to jeffries so that was the end of that
why?
Yea I keep getting conflicting information. One side tells me that it's an awesome place to start and better than most BBs, especially since they're less regulated so traders can take on more risk and because they're expanding aggressively so I would have a better chance at a FO. On the other hand, a lot of people have told me that they're not that good and that I should take an offer at a BB instead if I can.
Btw, this is in NY
start at BB, not a good place for junior ppl, u go there when ur senior--- know someone who interned in FI,,, they hardly hired anyone FYI-- dont make the same mistake...
Are their full time offer rates the only reason why you wouldn't recommend it to juniors or are there other reasons as well?
From what i was told, its a great place to be. Management of leucadia are ex-jeffco guys who are trying to put jeffco on the map. I have 8 other interviews for ibd and s&t (ms,kbw,wf,mac,blk included) and have had jeffco at the top of my list. I was not aware of the low return offer rate last year which leaves me skeptical. Would anyone think that this would be the case this year for sa's in fixed income? Any help would be greatly appreciated. Excuse my brevity typing on phone.
yes, the senior ppl dont go out of there way at all to teach young ppl they make u feel like ur bothering them... if u get any offer in fixed income around the street, go there and avoid jef... dont make same mistake... majority of ppl there are paid on comission, not salary, thus theres less resources to go around for junior ppl that produce no revenue on trading side...cannot comment at all on ibanking..
someone turned down large BB to go there for summer, only to then go back to that large BB for FT... that is not ideal situation...
Jeff FI/DCM routinely kills it.
Is commodities mixed in with FI at Jefferies?
nope, its separate.
Anyone info on Jefferies Fixed-Income Trading SA? (Originally Posted: 01/14/2012)
Have an interview coming up and any insight would be appreciated. I've exhausted the search feature.
My cousin interned there last summer. From what I understand, it is a generally unstructured program where you rotate on a few different desks on the FI trading floor. For your interview, you'll want to be sure to know what is going on in the markets and show that you have a specific interest in working in FI. He didn't say it was overtly technical (we used thee.same interview guides and talked about our interviewing experiences often).
On a side note, they promised that most of the interns would get full time offers, and ended up sending out only one or two offers. They've had some problems in the past year, but it's still a quality group to work for.
Thanks, I remember reading a similar post on WSO (maybe that was your cousin). It's my only confirmed interview so I want to crush it. I've been reading Vault S&T Guide, The Bond Book, and Fixed Income Securities along with reading the WSJ daily.
I don't think he posts here, but it sounds like you have been preparing well. Be sure to articulate why you want to be at Jefferies (i.e. growing firm, kiling MM competition, etc, although they did have a hiccup this year). Good luck!
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