Why jefferies investment banking

If that janitor's name was Weinberg, I have an idea what happened to the firm. But mrbrightside couldn't handle the fact that GS was at one time a "Jeffries". I guess my IBD history knowledge is not as great as others' on this board. Banker I'll give you a hint. The two families were the Goldman's and the Sach's.

Ironically, today, the Goldmans and the Sachs no longer speak with each other. Not saying either group is better- and I think the analysts and associates at Jefferies have more responsibilities than those at MS or GS- but you're feeding the BB trolls with that comment. It would be like me comparing Illinois to Harvard; two good programs and Illinois kicks Harvard's butt at engineering, accounting, and football , but you can't really compare a state school to an Ivy League that easily.

Each bank has its strengths and weaknesses. Lots of stupidity here. To cut to the chase: Jeffries is an up and coming player and their performance over the next few years will determine whether they can move up the prestige ladder.

Why does Jefferies have such a bad reputation in US? From reading WSO it seems like Jefferies is regarded badly and pays below street, although in London they are seen as an elite boutique that pays well above average for analysts? Anyone explain why this would be different to the states? They do same mid-market size deals over here. JEF is arguably one of the strongest MM banks.

Very strong in energy. While I would agree that Jefferies has a strong rep in London and that the name is well respected, no-one thinks of it as an "elite boutique", that's a bit of the mark.

I would be very surprised if the bonuses were as high as you claim - what's your source on this??? Interviewed with them last year and there was a guy who was currently an intern applying for grad position. Maybe elite boutique is wrong term, but guys in states say things like 'no one would ever work for JefCo with their shitty deals and bonuses' Compensation of 35k is low! Jefferies is probably the biggest of the MM banks. The reason it's not seen in a great light around here is that they rarely deal in bulge-sized deals.

Their biz model focuses on controlling the MM market, so if that is what you are looking for, it's a great place. I interviewed there and got an offer to work in their tech office; the guys there seemed great and there was good deal flow, since MM deals slow down less in a downturn. Ultimately I passed though because the deal experience at a BB trumped anything Jefferies could reasonably offer.

Does this sound realistic? Does Jefferies really have that potential? Jefferies is a great place to work I don't work there - don't listen to any useless flaming on this board or elsewhere. What will the next few years bring? Probably more success, especially if its cap markets groups step up as well as some of the other industry groups which are still MM-focused.

Also, have been mentioned in takeover talks for a while but that has yet to be seen. Thanks for that detailed response, really appreciate it. In terms of exit opps, do you know if they have improved in the last few years or are they still around the same level?

Solid exit opportunities especially for restructuring Stan, what is your personal opinion about the growth trajectory of the firm itself? Do you see BB potential?

I think it'll be a while for them to get there, but they do some things very well and their reputation is definitely increasing. Hours and pay are definitely comparable to BBs , and they've gotten their share of big deals in the past years, so I'd say they have growth and momentum on their side.

As for exit opportunities, the people I know get at least one call a week from headhunters, although I wouldn't expect anything from Blackstone or KKR 's PE. Also, Jefferies likes to have their analysts for 3 years and then have them promoted directly to associates. Harris Williams has way better mid market pe ops than jefries. Sounds like someone here interned at Harris Williams However, Jef is definitely one of the top MM banks and you can't go wrong with that choice.

How is Jefferies these days? The last major Jefferies thread I found was from 2 years ago it was called "Why do people hate on Jefferies? Nobody beats the balance sheet. Good deal flow and a strong reputation.

Not sure exactly what you mean by "personnel", but I'll take a guess and say - in flux. Heard from a senior returning to Moelis that he got the impression that Jefferies was a "frattier" bank after speaking to a ton of JEF guys. JEF is solid shop. I didn't like the culture though The tech group is more in the MM space - it's a pretty small team up in Boston and started getting stronger after they made the Broadview acquisition a few years ago.

They have a good energy group, with some pretty big deals, but not sure about the culture there. Does anyone have any info on the Charlotte office, like number of people there, strength of deal flow, industry focus, etc.?

I imagine it's just a couple of people and the term 'busy' is probably relative. Here's my two cents. Avoid Jefferies. Yes, Jefferies is fairly active in doing deals, but it is struggling in ways that many cannot understand.

I interned there and worked there a while ago and have friends still there. Very fratty culture, which although I'm not very fratty, I don't mind. The thought process was that although profitability would take a hit in the short term, ultimately there would be margin expansion through the additional revenue that these "hitters" would bring in.

Unfortunately, this has not happened, and Jefferies compensation ratio has ballooned and created a sort of income dichotomy within the firm. Those who were hired from larger banks had large guaranteed compensation packages, and this sucked up a massive portion of the bonus pool, which resulted in bonuses for everyone else including VPs, associates and analysts to get squeezed to the bone. Additionally, there were bonus clawbacks instated for everyone who decides to leave the firm, including analysts, which is absolutely unheard of on the street.

Your comp will just be below street regardless of your performance and the firm does not support its analysts from going to buyside you lose your bonus if you go to the buyside. That's a big reason their entire associate intern class did not accept their offers. Whoever said the healthcare group is the best on the street has got to be kidding me Even back at UBS , the healthcare team was known to focus more on the middle market because they did not have the relationships to compete for some of the more blue chip clients.

Now the middle market focus is even more pronounced. That said, the group is not bad hours wise. Energy is hands down the strongest group at the firm and is the only one that can be considered best in breed at Jefferies. Consider that they ran the sellside for Samson, the largest or at least one of the largest LBOs recently, as the sole advisor, while there were a million advisors to KKR. Huge presence in the shale industry.

The tech group is based out of Foster City. The NY and Boston tech groups are not nearly as active, but all of them work you very very hard. Once again, strong middle market focus but on occasion, you might work on a recognizeable name. Regarding the recent Leucadia acquisition, that is good overall from Jefferies.

It shields Jefferies from the institutional equity market which has punished it severely in the past year, with the whole Euro scare late last year. Also, it allows Jefferies shareholders it's CEO and senior leadership hold a bunch of the stock to effectively diversify from a midsized brokerage with a high risk profile to a broad diversfied portfolio of businesses without any sort of tax hit.

That might be the reason the merger was orchestrated the way it was. I never understood the healthcare obsession either, they are great at what they do, but it never was comparable to the top BBs. I am fortunate enough to have an offer for Jefferies for this summer and the deadline is soon. I am leaning towards excepting it instead of asking for an extension to interview later in the month with a few other BB. I wanted to get the general consensus of Jefferies and start a new thread.

All of the other threads on Jefferies seem to be outdated and from around What do people think of Jefferies now? Also heard that their Lev Fin team is good? I am going into banking for really the two years and looking to exit into PE or VC.

I saw that Jefferies might be a good choice if you are interested in VC? Adjusted leverage, defined as assets excluding goodwill and intangibles, divided by tangible equity, was 9. Jefferies-calculated liquidity, which includes cash, cash equivalents, high-quality government securities and reverse repurchase agreements collateralized by high-quality government securities, remained solid at Cash and equivalents as a percentage of total assets were Jefferies Financial Group Inc.

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However, we do have company cards we can use for meals as well, which is awesome. Very little deferred compensation or stock this year. But all of it can be clawed back if you leave for a competitor within a year. An on-site gym would also be nice. I know many people who have transferred groups even departments and offices at their request. I also know of instances where individuals have expressed a desire to leave the industry altogether and the firm has been helpful in placing them in other positions.

Since we do not have a very strong international presence in some of the fastest growing regions in the world such as Asia , international opportunities are more limited compared to other firms. IBD just instituted a new formal training program for associates and up , which I think is a genius idea and is extremely useful to help further develop the knowledge of Jefferies employees.

How awesome is that? Fewer minorities than at other shops. Specifically, the group has taken a unique approach to IB by hiring engineers and geologists to better understand the shale boom in the United States, and has really taken advantage of the enormous capital demands of small players in the industry.

This has helped our group pull in the biggest deals in the industry over the past three years. That makes me wary of our outlook. However, we have very, very prudent management and they stay away from putting the firm in any situations that could make it insolvent i. European debt. Despite the not-so-great economic climate, I still have faith that Jefferies will thrive simply because of the senior management here.

We continue to attract top talent from other bulge bracket firms who bring with them their book of clients and contribute to deal volume growth. I believe this firm is better positioned than any other in the industry to achieve continued year-over-year trading and investment banking profits due to our bridge position at the very top end of the middle market.

To begin, Jefferies is a very financially stable firm, and it benefits greatly from a strong partnership with conglomerate Leucadia National Corporation. The combined approximately 50 percent stake of Leucadia and our CEO Rich Handler, coupled with very high ownership by insiders in general, suggests that interests are strongly aligned at Jefferies. Risk is thoroughly scrutinized, with traders having specific mandates and many eyes watching each move to circumvent unexpected, large losses. Our lean deal team structure will not only provide you with unparalleled hands-on experience, it will help you develop lasting personal and professional relationships with peers and senior bankers that will serve as the foundation for a successful career.

Following an enriching orientation and training program, Analysts will begin working on their day-to-day responsibilities, with support from colleagues serving as both instructors and mentors. In addition to performing fundamental analysis and research into companies and markets, Analysts are challenged to think creatively, offer their input, and add value to the team from day one.

As with everyone at Jefferies, Analysts are expected to pursue their projects with excellence, a collaborative spirit, and with the highest levels of integrity. We look for candidates who are eager to make an impact by doing real, hands-on work and participating on active deal teams. Successful Jefferies Analysts are able to multitask and manage a variety of projects simultaneously. Candidates must demonstrate professionalism and client management skills together with strong technical, written and verbal communication skills.