Oppenheimer & Co.
What are people's thoughts about the company for a SA position?
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depends on the division.
they have been prone to layoffs/especially after the integration with CIBC a while back.
Everything else considered, recognizable name and good people.
What division..IB,S&T, Research?
Meredith Whitney was the financials analyst at OpCo.
The world has changed. And we must change with it.
How is there IB?
Oppenheimer's Investment Banking group consists primarily of the former CIBC World Markets team. The firm's middle-market M&A franchise is among the most highly underrated on Wall St., especially in healthcare, industrials and consumer. Middle market PE firms know and respect these guys, and many analysts have made great moves to PE or BB. Taking into account lifestyle (better than BB), pay (historically comparable to BB, although who knows this year), and exit opportunities this can be a great place to be an analyst, assuming you end up in a good group.
their IB is weak. this is definitely a third-tier bank.
Marshall - great insight thank you.
London - Why do you say weak?
Maybe you'd do better at Meredith Whitney Advisory Group...
Really? Someone at HR said they weren't holding any summers this year. This was back in January though.
I got the same response Ikc. She said that they aren't looking for summer analysts this year...unless it was just her way of saying "we don't want you".
OP, I want to give you my honest opinion. Oppenheimer & Co. is known for its research department, not IBD. Yes, they acquired CIBC but the acquisition turned out to be quite disastrous to those CIBC guys. There wasn't much synergy out of that transaciton.
If I were you, I would go with the research group.
Yeah it could have been a subtle rejection, but I didn't send them my resume or anything. Just an anonymous phone call, haha.
how is their research group? thanks.
Oppenheimer Internships (Originally Posted: 01/12/2012)
Does anyone know how you can apply to Oppenheimer for summer internships from a non-target? I know they have OCR positions for their target schools. I tried contacting them via email and phone and did not get a response. thanks
Which one did you apply to? * Oppenheimer & Co. * Oppenheimer Holdings * Oppenheimer Funds
Well i haven't applied yet, but I am looking to apply to Oppenheimer & Co. I know Oppenheimer Funds have an online application system, so that is not a problem. Should I just mail in my resume to their NY branch instead? Thanks!
Lets just say Im very familiar with Oppenheimer & Co. What type of position are you seeking? Their corp culture doesnt believe in cultivating talent, they instead scalp talent from other firms.
This would be in the tech group in their IBD. I recently spoke to an Alum there (third year associate) and told me that if it works out, I would be working directly with him. Considering the current economic environment, any experience would be great.
Ultimately, I want to get some form of experience this summer to better position myself for FT recruiting this fall.
London, not sure what you're basing your comments on but ANY research position is inferior to Oppenheimer IBD, unless, of course, you want to be a career research analyst. You're right, there were almost no synergies out of the acquisition of CIBC because Oppenheimer had (essentially) no investment banking franchise before the deal, which is why their website is still a joke and shows a bunch of lame equity deals. I can assure you, however, that the guys in banking are real guys. Take it from a guy who works at a middle market PE firm that talks to these guys regularly (and one of my colleagues is a former analyst there). I don't know much about the tech group, but, for example, their healthcare group is run by the former co-head of healthcare from JPM, their consumer team (out of Baltimore) came from Deutsche Banc, and both their industrials and M&A heads came from Citi. They also have no balance sheet issues that the bulge brackets have and give their junior guys a lot of responsibility. Obviously if you can go to Goldman, MS, or an elite boutique (ie Moelis, Evercore, Greenhill) you should do that, but Oppenheimer is certainly a very legit bank and they're in a great position to continue to build up their platform with top-notch guys as some of the bigger firms fall apart. I'd say the most comparable firm is probably Jefferies, which I believe is slightly bigger but certainly no better in terms of junior experience.
TheMarshall, thanks for all the info. Obviously not a name brand like the BB firms, it still seems to be a great stepping stone for future opportunities.
what about their alternative investment/pe group
I have an upcoming final round interview at Oppenheimer & Co. for their IBD division. Can anyone shed some light on what to expect/has anyone been through it? They said I will meet with at least 6 people. Thanks for the help!
I just went through it. It's pretty standard--"Why banking? Why Oppenheimer?". I know some kids got asked technical questions but they were pretty basic like "If depreciation increases 10%, what happens?", "How could operating income be less than net income?", "Is operating income a levered or unlevered metric?". One guy was asking a brain teaser but it was really simple.
All in all I found the interview process very lax. The people there are very friendly. I think they're looking for a good fit: someone who's enthusiastic to work in ibanking, specifically the middle-market. And if you don't know the answer to some technical question, just say "I'm not sure but given my understanding of accounting, I would guess....."
Good luck!
Thanks for the info TeamLRAM - much appreciated. How many people did you meet with in your final round?
It's a shitty firm like silver lane and piper jaffray. AVOID AT ALL COSTS.
Had 6 interviews- people are great. Nicest office I have seen, and I have interviewed at a number of top firms.
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