Which Offer to Take - Bad Dept. at Goldman, or Good Dept. at Jefferies?

What do people weigh the most when considering multiple offers? The overall firm, or the specific department in which you'll be working?

And by "Goldman," I don't necessarily mean Goldman, but top-tier firms, in general. Same for "Jefferies" -- that represents a "second-tier" firm.

I'm just trying to ascertain whether it's better to work in a bad/boring department at good firm, or good/more rewarding work at "lesser" firm.

Comments (33)

Jul 30, 2018

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Jul 30, 2018

Do the opposite of what this guy said

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Jul 30, 2018

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Jul 30, 2018

Yeah I'm going to have to second this. Money is money. The brand value you get from GS doesn't outweigh the bonus money you'll earn working front office elsewhere, and it will always be easier to get to GS front office coming from another front office rather than trying to get in from BO.

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Aug 7, 2018

No, the team makes way more of a difference to long term happiness. Plus, it's not like the exit opps for Jeffries are the checkout stand at McDonald's.

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Jul 30, 2018

See, this is why I asked. Since coming onto this site, I've become surprised at the weight given exit opps. when considering your first job. I'm not saying that it's not right to do so; but it seems that a lot of people think exit opps. are an extremely important factor -- if not the paramount factor -- when deciding which job offer to take.

Aug 4, 2018
MichaelScarn:

See, this is why I asked. Since coming onto this site, I've become surprised at the weight given exit opps. when considering your first job. I'm not saying that it's not right to do so; but it seems that a lot of people think exit opps. are an extremely important factor -- if not the paramount factor -- when deciding which job offer to take.

Exit opps is how you really evaluate options.

You can go to Harvard or Penn State. Why Harvard? Exit opps(among other things).

If it's FO vs. Mo vs. Bo, take whichever role is FO. If it's both FO, take the one you'll feel youll be more rewarded in, not just financially, but networking and exposure to. Being a big fish in a small pond can be great. You want to exposure to. And getting out of MO/BO into FO is really fucking hard. Doable, but fucking hard

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Aug 6, 2018

As an example, what if it's JP/Goldman/BAML Risk (MO) vs Nomura/BNP/BMO IB (FO). Where would you be better off?

Aug 4, 2018

Avoid the back office and middle office like the plague, or you may never get out.

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Aug 5, 2018

Role > firm. It's better to be in the head of the snake than in the tail of the tiger (the opposite of the Talmudic wisdom). You're gonna be closer to the food and you're not going to get the sh*t splatter that the tail frequently gets.

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Jul 30, 2018

All good, thanks guys!

Aug 6, 2018

I would take the role that most aligns with what you want to do because at the end of the day the skills you end up learning in IB (for example) are most transferable to other industries than a MO/BO role at a top bank. I know people who've been in this exact situation and took roles like credit risk etc at a GS/JPM and inevitably felt stuck there. The opposite is almost always true of folks who went to a Jefferies/Macquarie/etc but are doing great front office work.

TLDR: Role trumps prestige by a long shot.

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Jul 30, 2018

Thanks. Yeah, sometimes you can get blinded by the prestige, but I guess it'd be like being a starting pitcher for the Rays or pitching BP for the Yanks. You would definitely go with the Rays. (I realize this analogy might not be the best one... but you know what I mean).

Aug 6, 2018

Always work in something you truly enjoy and you'll find money comes easy. I don't burn out because I love every minute of what I do and so do the people I work with.

Jul 30, 2018

Yeah, I gotta remind myself of that. If you don't mind me asking, what is your job and why do you love it so much?

Aug 7, 2018

FO > MO/BO

Now if you're debating groups...like the "worst" product group at GS vs the "best" at Jefferies, that might be a more worthwhile argument.

"If you have a difficult task, give it to a lazy person; they will find an easier way to do it." - Hlade's Law

Aug 8, 2018

Take the good dept at Jeffries, wait a year, transfer to the good dept at Goldman

Oct 15, 2018
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