Jefferies vs. Goldman

Need help guys. Both IBD in NYC. Which would you choose and why? I know GS has better exit opps, but how much better? Also, is analyst pay higher at Jefferies? Any info is helpful. Thanks in advance.

Comments (20)

Jan 18, 2013

If you have the offers in hand, congrats.

    • 1
Jan 18, 2013

Man. It really depends on how hardcore you are. Without knowing who you are, it's really impossible to say. Lots of college kids will begin replying to this thread soon -- ignore all.

    • 1
Jan 18, 2013

Everyone will say GOLDMAN!!! but it depends on you, your goals, etc.

Provide more info.

    • 1
Jan 18, 2013

boutique vs. BB

    • 1
Jan 18, 2013

Jefferies will pay you much more.

    • 1
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Jan 18, 2013

I would say Goldman in a second, for the most part. Much better prestige, exit opps, etc. I've heard Jefferies really hires a lot of its associates through direct promotion from analyst, though -- so if you're committed to staying for the long term, maybe something to consider. I'd still take Goldman, though.

Jan 18, 2013

didn't goldman make huge changes to their analyst program? correct me if i'm wrong but 1) no more 2-year contracts and 2) no more bonuses? if that's so, jefferies might be the better option

Jan 19, 2013
turtles:

didn't goldman make huge changes to their analyst program? correct me if i'm wrong but 1) no more 2-year contracts and 2) no more bonuses?

Surprised no one has touched on this... anyone to clarify please?

Jan 18, 2013

first off, congrats, second...if you wanna stay longterm ibd jeff (more relaxed and you'll prob get paid more) - if you want better exit ops - DEF GS

Jan 18, 2013

Goldman, definitely. Yes, they'll probably pay less but opens up so many more doors to the top megafunds, top MMs, hedge funds, VCs that might not even look at someone from JPM or CS (yes, there are many very respected firms that pretty much look only at GS/MS/BX or some of the boutiques e.g. Silver Lake, Eton Park), much less Jefferies. Yes, you'll have a Jefferies analyst go to a megafund once a year or so (vs. a good chunk of the GS class), but it's SIGNIFICANTLY more challenging. If you want to stay in banking, it's also a lot easier to move from GS to JEF than vice versa.

Pay shouldn't be an issue here- there's a reason that people go to Harvard over a state school even though Harvard is ~40k more a year. The long-term advantage you get in future earnings more than makes up for the short term hit (and at either GS or JEF, you're making six figures out of college, so it's not as if you'll be broke working as a GS analyst)

Jan 18, 2013

I really really really really really cant believe this is a discussion since its both in IBD and in NY. you dont deserve a GS offer if you're actually serious.

Jan 18, 2013

Double posted

Jan 18, 2013

Is this a troll thread? If not, disregard anyone that is playing devils advocate above saying to pick Jefferies. If it's generalist programs, do Goldman without a doubt. The only reason you'd go to Jefferies with a Goldman offer is if you were getting placed in one of the unconventional Goldman IB groups like the public sector group or whatever.

In terms of exit opps, even if you mess up buyside recruiting while at Goldman, you'll still land somewhere good and if you do well, you can end up at any megafund or big name hedge fund. At Jefferies, it will be an uphill battle, although anything is possible.

I wouldn't worry about whatever small salary differences may or may not exist between the two options. Even if you wanted to stay in banking, Goldman is prob better because associate promote is after two years rather than three (I'm assuming Jefferies is three like other banks).

Jan 18, 2013
Newspeak:

Is this a troll thread? If not, disregard anyone that is playing devils advocate above saying to pick Jefferies. If it's generalist programs, do Goldman without a doubt. The only reason you'd go to Jefferies with a Goldman offer is if you were getting placed in one of the unconventional Goldman IB groups like the public sector group or whatever.

In terms of exit opps, even if you mess up buyside recruiting while at Goldman, you'll still land somewhere good and if you do well, you can end up at any megafund or big name hedge fund. At Jefferies, it will be an uphill battle, although anything is possible.

I wouldn't worry about whatever small salary differences may or may not exist between the two options. Even if you wanted to stay in banking, Goldman is prob better because associate promote is after two years rather than three (I'm assuming Jefferies is three like other banks).

"you can end up at any megafund or big name hedge fund."

No, that is completely fucking false. There are a handful of megafunds and a hand full of good hedge funds so if you mess up recruiting or are not a top analyst, you will certainly not end up at one of these. I swear, some people are completely lost.

Also, people underestimate how hard it is to convert an SA at GS into a full time offer. Unless you are incredibly good, you will likely be recruiting again for FT.

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

Jan 19, 2013
Will Hunting:
Newspeak:

Is this a troll thread? If not, disregard anyone that is playing devils advocate above saying to pick Jefferies. If it's generalist programs, do Goldman without a doubt. The only reason you'd go to Jefferies with a Goldman offer is if you were getting placed in one of the unconventional Goldman IB groups like the public sector group or whatever.

In terms of exit opps, even if you mess up buyside recruiting while at Goldman, you'll still land somewhere good and if you do well, you can end up at any megafund or big name hedge fund. At Jefferies, it will be an uphill battle, although anything is possible.

I wouldn't worry about whatever small salary differences may or may not exist between the two options. Even if you wanted to stay in banking, Goldman is prob better because associate promote is after two years rather than three (I'm assuming Jefferies is three like other banks).

"you can end up at any megafund or big name hedge fund."

No, that is completely fucking false. There are a handful of megafunds and a hand full of good hedge funds so if you mess up recruiting or are not a top analyst, you will certainly not end up at one of these. I swear, some people are completely lost.

Also, people underestimate how hard it is to convert an SA at GS into a full time offer. Unless you are incredibly good, you will likely be recruiting again for FT.

This is my primary concern as I, like most people, would prefer to avoid the FT recruiting process.

Jan 18, 2013
Will Hunting:
Newspeak:

Is this a troll thread? If not, disregard anyone that is playing devils advocate above saying to pick Jefferies. If it's generalist programs, do Goldman without a doubt. The only reason you'd go to Jefferies with a Goldman offer is if you were getting placed in one of the unconventional Goldman IB groups like the public sector group or whatever.

In terms of exit opps, even if you mess up buyside recruiting while at Goldman, you'll still land somewhere good and if you do well, you can end up at any megafund or big name hedge fund. At Jefferies, it will be an uphill battle, although anything is possible.

I wouldn't worry about whatever small salary differences may or may not exist between the two options. Even if you wanted to stay in banking, Goldman is prob better because associate promote is after two years rather than three (I'm assuming Jefferies is three like other banks).

"you can end up at any megafund or big name hedge fund."

No, that is completely fucking false. There are a handful of megafunds and a hand full of good hedge funds so if you mess up recruiting or are not a top analyst, you will certainly not end up at one of these. I swear, some people are completely lost.

Also, people underestimate how hard it is to convert an SA at GS into a full time offer. Unless you are incredibly good, you will likely be recruiting again for FT.

I mean this is true in theory sure, but if he was not going to get a FT offer at GS theres also a chance he wasnt going to get the FT offer at another bank, ex-Jeff, because of work ethic, fit, etc

And lol i would much rather go through FT recruitment with GS on my resume and run the risk of not getting that FT offer vs going through FT recruitment w/Jeff on my resume and also run the same risk of not getting that FT offer. I dont know why i'm even responding, this is so sad that the OP has to be convinced to work at "the goldman sachs" :-/

Jan 18, 2013
Will Hunting:
Newspeak:

Is this a troll thread? If not, disregard anyone that is playing devils advocate above saying to pick Jefferies. If it's generalist programs, do Goldman without a doubt. The only reason you'd go to Jefferies with a Goldman offer is if you were getting placed in one of the unconventional Goldman IB groups like the public sector group or whatever.

In terms of exit opps, even if you mess up buyside recruiting while at Goldman, you'll still land somewhere good and if you do well, you can end up at any megafund or big name hedge fund. At Jefferies, it will be an uphill battle, although anything is possible.

I wouldn't worry about whatever small salary differences may or may not exist between the two options. Even if you wanted to stay in banking, Goldman is prob better because associate promote is after two years rather than three (I'm assuming Jefferies is three like other banks).

"you can end up at any megafund or big name hedge fund."

No, that is completely fucking false. There are a handful of megafunds and a hand full of good hedge funds so if you mess up recruiting or are not a top analyst, you will certainly not end up at one of these. I swear, some people are completely lost.

Also, people underestimate how hard it is to convert an SA at GS into a full time offer. Unless you are incredibly good, you will likely be recruiting again for FT.

Lol, what? Notice how I said "can," not "will" and that I caveated "if you do well."

In the post you quoted, I specifically said that if you do well in buyside recruiting, you *can* end up at a mega fund or big name hedge fund but if you mess up a lot of interviews, you're still likely land somewhere decent because most places will give you an interview.

Make sure you study extra hard when you're studying for the reading comp section for the GMAT. Looks like that is a severe weakness for you.

Will Hunting:

I swear, some people are completely lost.

I agree, you do seem kind of lost, bro. Honestly, calm down and quit with the obnoxious, condescending attitude. What's funny to me is how self-righteous you are on this forum when you obviously have no idea what you're talking about.

Obviously not every GS analyst goes to a megafund or big name hedge fund...which I said in the post to which you replied. That said, look on the websites of the top funds; you'll find multiple GS alums and, on occasion, one Jefferies alum. OP should choose GS and it's not even close.

Jan 19, 2013

Also, I don't have a Goldman offer. I have my superday on Wednesday and currently have a Jefferies offer.

Jan 19, 2013
ChicagoBears1:

Also, I don't have a Goldman offer. I have my superday on Wednesday and currently have a Jefferies offer.

Come back on Friday.

Then IF you hear back positively i'll be like "OMGeeez, GS FTW!! YOLO!!"

Ether way. Well done for getting an offer of any sort.

Jan 19, 2013
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