Hey everybody,
I just wanted to start a thread to see what the general consensus was for Jefferies vs. places like UBS, Barclays, Baml, and Deutsche Bank.
I am in a fortunate position and wanted feedback on things like exit opps, pay, culture and pros or cons to taking Jefferies over the bulges mentioned.
What would you take? Jefferies vs. UBS, Barclays, BAML, DB. Would be great to know reasons why as well.
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Baml Barclays DB UBS Jefferies That's the order I'd put them in but go where you liked people the most. Don't follow rankings and what people tell you on a forum..
Jeffries for sure.
Do you know the group? But right off the bat I'd objectively say Jefferies over UBS as a definite.
I would take BAML then Deutsche and then Barclays and then Jefferies then UBS
BAML (M&A, Sponsors, HC) Barclays (NatRes, P&U, HC) DB (M&A, Sponsors, LevFin) UBS (LevFin/Sponsors, M&A) Jefferies (M&A and Healthcare)
I would take it in that order, not considering group by group basis.
Off the bat, BAML M&A/Sponsors trumps all the groups above from what my contacts have told me in terms of exits and exposure. After that, it gets a little bit more complicated if you're comparing group to group.
If you're interviewing anywhere else (boutiques - EVR/GHL/Laz/Moelis), definitely mention these offers, let your contacts know about these asap. Or if you're waiting back from GS Superdays, wouldn't hurt to let them know of these as well. Other than that, I would let BAML know about these offers and try to get pre-placements into your top choice.
Definitely killed recruiting. Congrats!
BAML also has top notch RE, no?
These questions are stupid, and you will always get equally stupid responses in return when you ask them. The people above are not taking into account group selection, which is the most important thing. Since you didn't mention that, I cannot blame them. (EDIT - the above user did. Kudos to you, sir)
That said, their responses may be inaccurate without color on that front. For example, I would take Jefferies over DB in a general sense, but if I were getting placed in its LF, M&A, or Industrials groups, I might do the opposite. That goes for all of the others you mentioned as well. The top group at one bank, versus a not-so-top group at another, will, and should, sway your decision. Not the firm itself.
BAML Leveraged Finance / M&A would probably be one of the better options if you had it, but Barclays Nat Res or UBS FSLF are also top teams among the firms you mentioned as well.
Also, exit-ops are what you make of them. Group selection is a lot more important in this regard as well. If exit-ops are your goal, then you should go the extra mile to get placed in some of the groups I mentioned at those banks because those are the typical buyside-placing groups for the firms you mentioned.
As far as Jefferies goes (don't have too much info here), it is a great place and definitely places well from what I have heard. Not sure how the recent incident will affect business in the future, but we shall see...
The point is, nobody can conclude an accurate response to your question besides yourself if you have any idea where you would be placed.
My ranking:
baml
DB
Barclays Jefferies UBS
First off, congrats! All great offers.
I did my SA with Jefferies, so I'll shed some light on my experience. First off, I have to add a group to Etaractic's list. Healthcare, LevFin, M&A. The LevFin group gets a lot of deal flow, one of the busiest groups at the firm. They are on deals of all sizes, but are able to take over part of the market bank holding co's can't; the higher leveraged deals and the smaller, lower rated companies.
Two points to highlight about Jefferies: the generalist program and the culture. The generalist program is great; you get to list you top 4 preferences and primarily work with those groups. The exposure to the various industries and bankers was incredible. One day you'll be analyzing pharmaceutical companies and going over the deck with a VP, the next you'll be on a leveraged finance deal for a maritime company. So you learn a lot more and are able to get a feel of the various cultures in each group. Also, all the SAs sit on the same floor, so its you get to know them all really well and it's considerably more fun. Makes long nights and weekend work tolerable, if not almost enjoyable.
On culture, I liked it a lot. It was a lot less conservative than the banks my friends worked at, most bankers were down to earth and fun to work with. Of course the culture you fit in best with varies from group to group, but that is another valuable thing about the generalist program; you get to try them all out. Hours are the same at any bank, but the smaller deal teams allows you to have more control of the process, even as a SA.
I'm not sure how exit ops stack up, but I know a lot of analysts left for good firms.
As for ranking, I don't know enough to give a fair opinion. That said, I'd have to agree with the general consensus of UBS last. Followed closely by Barclays. Of course they both have several good groups. I'd say Jefferies, DB or BAML (in no particular order).
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