UNDISPUTED RANKINGS - 2021
BB Rankings:
-
Goldman Sachs / Morgan Stanley / JPM
-
BofA / Citi / Barclays
-
Wells Fargo / DB / UBS
EB Rankings:
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PJT / Evercore / Centerview / Qatalyst
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Guggenhiem / Houlihan (Note: both RX teams would be tier one)
MM Rankings:
Jefferies / Raine / Cowen / Baird / William Blair
Meh, weak groups:
Stifle / Nomura
Looks like someone is interning at RBC / WF
edit: MS from butthurt MM kids thinking they’re on par with CS / BarCap lol
sure
....
Bro stop commenting ‘Great List’ and SB’ing ur own comments in different anon posts, u forgot to anon urself in one of the comments
lol was thinking the exact samething
Accurate.
This is bad stuff, WF = Barclays???
Why Cowen? There’s half a dozen MM firms that outclass it. Putting HL in there makes no sense either. It’s either their RX group or it’s a volume MM shop. So dumb
ok
You can get MF PE out of Barclays. You can't even sniff UMM PE at Wells. Sit down prospect
Edit: I got whooshed
ok
while everyone shits on WF being equal to CS, no one is going to say something about RBC==Barcap??
you are right... updated
bruh, Stifel and Nomura should be removed from BB...
ok, updated
Qatalyst should be right at the top of EB's, and Raine should be somewhere in honorable mention.
ok, I'll update
it should be at the first tier of EB's. Because it is literally no. #1 in TMT & the only things that even come close is GS, and maybe MS.
Look at 2021 YTD League Table, pledge. Take out WF and RBC from the BB table, include Jefferies there, and then put DB as 5 and UBS as 6.
Good point
OP then should just link this website instead of his own honest opinion, tbh Jefferies will never be a BB. Also, this is just 2021 Q1 earnings.
Good point, Never made to BB
It isn’t just Q1 earnings lol. Jefferies has been outperforming since the past couple of years. It pays slightly above street at analyst level but that scales up considerably as you rise through the ranks and the top performers are paid at the EB level. This isn’t to say that it is at the Goldman level but I think it’s fair to say given it’s historic and future trajectory that it is at UBS/DB level (maybe even slightly ahead in IB) and above the other balance sheet and MM banks.
team bike?
That's probably why OP had them in honorable mention
Yeah that’s fine if he doesn’t put RBC/WF/Rothschild on there in the rankings. Putting those banks ahead of Jefferies for IB implies they are better than Jefferies which I disagree with for the aforementioned reasons. Plus, if it is at the UBS/DB level shouldn’t it be recognised that way, too?
Those are bottom-tier within their respective classes, while Jefferies is implied as top MM
Dude no offense to your rankings but you have Cowen right next to Jefferies and there’s no way both are top MM. if Cowen’s a top MM (which it isn’t) then you need to raise Jefferies’s level by a notch or more. Otherwise, remove Cowen from there. The closest Jefferies comps would be WB/Rothschild/Baird/HL.
Cowen did Peleton IPO, Jefferies gave away peletons. I think they are on par
I've heard it's a lot of pitch work. Also, Jefferies is not in the same tier as WB LOL.
Are you saying Jefferies is above or below WB?
If you think Jefferies is below WB you are absolutely wrong lol.
Sir, Jeff is undisputed as the #1 MM. Which is why it says so on the undisputed rankings. Is there any other piece that you disagree with?
I was replying to the Analyst 1 in IB - Ind who mentioned that Jefferies is not in the same tier as WB. Just wanted to clarify from him if he meant that Jef was above or below WB. If he did in fact mean Jef is below WB, I (and most others on the street) would disagree with that statement.
Jefferies is not even remotely close to any of your "comps." Obviously, the better choice for your internship.
Yeah no I totally agree that it’s the best choice out of all the “comps”. The only reason I listed those were to say that i would much rather have Jefferies compared to those than Cowen in the MM space. Tbh I think it is more along the WF/RBC/UBS/DB but the OP doesn’t seem to want to place Jefferies in that category.
Feel you. 100% would take JEF over any of those just listed.
Lets Assume that you are looking at this table: https://www.factset.com/hubfs/mergerstat_em/monthly/US-Flashwire-Monthl…
I would still put Jefferies Wells and RBC all in the same category as they are above a 1 billion deal value per deal. I know that some people are going to say that well RBC and Wells are much lower on the transaction volume but, if we are not LQA the Q1 leagues tables and generally looking at 2018, 2019, and 2020 league tables (Excluding RBC 2020 as it looks like it was a really bad year for them) generally they are much closer (RBC closer than Wells) to overall volume of the biggest players.
nice oped
I'm not sure why this thread has so much MS... The rankings are very accurate
Titled: “Undisputed Rankings”
Actually: Disputed by so many in the comments that OP revises the rankings multiple times.
That is why it is undisputed, It is peer sourced. The list sounds about right in terms of prestige and exits.
When 80% of the active users are college freshmen and high schoolers, peer sourced is not the way to go bud.
Cowen and Raine over Blair???
Updated
BofA and Citi are not a tier better than Barclays. Those banks may be ahead on league tables, but Barclays is more prestigious if anything. JPM arguably has the best name outside of GS, ridiculous to put BofA and Citi on the same tier.
Citi has always been ranks ahead of barcap especially pre 2008 era, barcap has prestige over Citi? don't think so
....
Very True about 2008
Barclays is EX-Lehman, which was a better brand than Citi. League tables are not very accurate. Citi is a huge balance sheet bank, and often receive M&A credit when on the deal only for financing, not for M&A work. This is the case for every BB, but much more so with Citi/BofA than others. Also Citi is arguably the most global bank (which obviously is a great thing and has its pros), but once again misleading in terms of league tables because they have a much larger percentage of deals outside the US (many in very remote areas). Even just in the way they hire at the junior level, it is clear that Barclays is viewed as more prestigious. Barclays hires more candidates from top schools, and they do so while recruiting on the later side of things. Citi takes a bunch of non-core candidates, possibly the biggest diversity bank, and they recruit 6+ months ahead of the top 5 BB's (GS, MS, JPM, BAML, BARC) in order to try to pressure candidates that wouldn't normally go with Citi. Bigger does not always mean better, and Barclays is clearly viewed as better by more candidates. Not to mention better culture and in-house M&A.
factual
Not sure why this got MS, There are way more solid groups at Barc than Baml (FSG, Levfin, M&A) and Citi (M&A)
I don’t see how ranking makes sense without specifying the groups. Good and bad groups can differ a lot under the same bank.
I'd say regardless of group, this captures it
...
Thanks!
solid
Move JPM up with GS/MS or at least by itself. Barclays on par with the likes of BofA and especially Citi. RBC doesn't belong with CS, move down with DB/Wells/UBS. Boutiques look good.
agree - Outside of the M&A group Citi should be in tier 3, Barc/Baml the only real banks that belong in tier 2 and even then Baml not strong outside product groups (M&A/Sponsors/Levfin) and MAYBE Consumer
Considered
How is Qatalyst not tier 1? Probably the most prestigious to work for outside maybe PJT RSSG and the deal flow/head is insane
Historical presense.
Huh.. how are WF and RBC better than DB and UBS ??
They are the same
At least in Europe, DB/UBS are miles away from the likes of RBC. Like literally uncomparably better
Large Banks
GS/MS/JPM
BAML/BARC/CITI
CS/UBS
JEFF
DB/RBC/WF
Large Boutiques
EVR/PJT/CENT
LAZ/MOEL
PWP/GUGG
Honorable Mention: Greenhill, Houlihan
Top Industry boutiques include: Qatalyst, Eastdil Secured, Liontree, Raine, etc.
I think this list makes a lot more sense.
eh
Found the Jeffries Intern
lol
OP had a better list for sure
PWP above Gugg lol - on par with MOE + LAZ given deal flow/head
solid list
Second this.
You must work at RBC.
....
...
Agreed.
EB's seem legit
....
I don't know
No way qatalyst isn’t tier 1 lmao
FINE!
bump.
Tobin??
?
GS / MS/ JPM
BofA / Citi / Barclays
CS / RBC
DB / RBC / UBS
Damn, RBC is doing so well, 2 of them are in top 10 list
Lolll, fixed!
This sounds about right, given where my alumni have placed
Can you add the PE firms with analyst programs?
This gives an idea of PE exits, but I'd be happy to rank the PE funds if you'd like!
I'll make a PE power rankings tmr, but for now...
1. KKR / BX / Bain
2. MSD / Thoma Brovo / Apollo
bump.
Wondering how these banks stack up for Rx? Is this for M&A?
well, for Rx I could make a new thread, but I'd rank Rx as:
PJT, Houlihan, GUGG, PWP, EVR
thx
EVR below Gugg and PWP? They have been on huge deals recently
Where would Piper Sandler fit in the MM category?
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