Piper Jaffray

  www.piperjaffray.com
  www.piperjaffray.com

Piper Jaffray Reviews

Updated June 26, 2014
Updated June 26, 2014
62 Reviews
3.3
62 Reviews
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Piper Jaffray Chairman and CEO Andrew S. Duff
Andrew S. Duff
35 Ratings

Review Highlights

Pros
  • Generally good work life balance for finance (in 4 reviews)

  • Flexible work schedule, nice people, meaningful projects (in 5 reviews)


Cons
  • Poor management and work-life balance (in 3 reviews)

  • Lack of client engagement and accountability on part of senior management (in 4 reviews)

More Highlights

9 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Piper Jaffray is a sleepy Midwest securities firm that is run by a small clique in Minneapolis

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Research Analyst in New York, NY
    Current Employee - Research Analyst in New York, NY

    I have been working at Piper Jaffray full-time (more than 3 years)

    Pros

    Great 401K match, generally nice people

    Cons

    Firm-wide compensation has declined meaningfully in recent years; Management is concentrated in Minneapolis and is out of touch with what is happening in New York; nepotism is rampant and promotions/layoffs are strongly biased towards the good Minnesota folk.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    PJ

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in San Francisco, CA
    Former Employee - Anonymous Employee in San Francisco, CA

    I worked at Piper Jaffray

    Pros

    The management team are accessible.

    Cons

    clique-ish, not comfortable working environment.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 3 people found this helpful  

    Mismanaged firm with lack of vision or strategy amongst the leadership team other than following the bulge bracket firms

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee in Minneapolis, MN
    Former Employee - Anonymous Employee in Minneapolis, MN

    I worked at Piper Jaffray

    Pros

    Stepping stone to other jobs within field.

    Cons

    Lack of communication is prevalent at all levels of this firm---from VP to MD to CEO---so the culture is still very much one of a boys' club.

    Advice to ManagementAdvice

    Communicate with your employees in an authentic manner and have a strategy other than following what larger, bulge brackets do to make money in new products/markets.

    Doesn't Recommend
    Disapproves of CEO
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  5. 4 people found this helpful  

    Piss-poor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Banking Analyst in Minneapolis, MN
    Former Employee - Investment Banking Analyst in Minneapolis, MN

    I worked at Piper Jaffray

    Pros

    - Great name, regardless of recent banking down turn in market share and dealflow
    - Good pay, although not on an hourly basis
    - Bonus pay in line with market

    Cons

    - Poor management and work-life balance
    - Difficult times for all in current market turmoil however Piper did not prevail with a clear strategy to win new business

    Advice to ManagementAdvice

    hiring senior MD's to build management is a good strategy and will build pipeline for future. Company needs to find closers who can rebuild the tarnished PJC name however

    No opinion of CEO
  6. 2 people found this helpful  

    Not a huge fan

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Trading Support in Minneapolis, MN
    Former Employee - Trading Support in Minneapolis, MN

    I worked at Piper Jaffray

    Pros

    Good money if you can become an market maker or coverage trader
    Probably the largest brokerage in the mpls st paul area

    Cons

    Huge turnover
    management incompetence
    investment banking runs this place
    lots of nepotism
    not much employee morale
    lay offs all of the time

    Advice to ManagementAdvice

    They need to have more stability in employment there, layoffs happen all of the time, one time they literally had everybody at their desk and if you were called you were laid off. pretty much like a firing squad.

    Doesn't Recommend
    Disapproves of CEO
  7.  

    Some groups are strong, others very weak. If you have no other opportunities for banking, then take what you can get

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Banking Analyst
    Former Employee - Investment Banking Analyst

    I worked at Piper Jaffray full-time (more than an year)

    Pros

    Great expense policy
    Will say that the experience was good if compared to small banks. In the middle market space it might be somewhat lacking.

    Cons

    Depending on the group, management is VERY poor and senior bankers terrible
    By management I am referring to heads of the specific groups. Consumer and Healthcare seem to do fine, Tech not so well and culture in satellite offices are a mixed bag. Working in MN seems to be the way to go to advance your career, otherwise things can get pretty tough.

    Advice to ManagementAdvice

    If you are going to treat junior bankers horribly, At least pay well above street and give excellent deal experience.Granted, there are some solid groups in the bank so it all depends on where you are placed. Certainly only consider Piper if you will be in one of their well regarded groups, otherwise stay clear as you will likely get a heart attack before you hit 25. And won't be able to afford the surgery because their pay is not that great...

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Not What It Used To Be--Beware.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Capital Markets
    Former Employee - Capital Markets

    I worked at Piper Jaffray

    Pros

    -Good place to start your career as the company offers support in earning credentials and teaching basics of the business
    -Generally good work life balance for finance
    -Friendly people

    Cons

    -Poor leadership; lack of any clear vision or strategy
    -No opportunity for career development, especially if not at HQ
    -Below market comp
    -No longer as reputable as it was a few years ago
    -Poor interoffice communication
    -Few resources
    -Not a team environment

    Advice to ManagementAdvice

    Communicate more often and more effectively. Think through your strategy and vision for the firm before implementing wholesale shifts and then reversing direction 6 months later. Try not to downsize during the holidays--it destroys the morale of both the employees getting laid off and the ones remaining.

    Doesn't Recommend
    Disapproves of CEO
  9. 4 people found this helpful  

    I started looking 6 months after I started at the firm...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Analyst
    Current Employee - Analyst

    I have been working at Piper Jaffray

    Pros

    ...and in that time I've seen 10 people (out of 100) leave. PJC does a good job of encouraging work/life balance, though my manager gives me the third degree every time I want to use my vacation time. In my area of the bank, the business isn't exciting (or really money-making), but PJC does a good job of supporting us nonetheless.

    Cons

    SIZE! PJC is tiny, and we have such a hard time attracting good people and keeping them. They compensate their people poorly. (Example: I took a $10k pay cut when I came here during the height of the financial meltdown and was grateful to have a job. I was told that I would get a bonus that would make up for the pay cut. I didn't get a bonus/raise for two years, and it was less than the pay cut). Communication is awful among the various offices and in the firm itself. Key personnel leave and you don't find out for two months. Your manager gives you feedback on your review, and you don't see it until you ask (or six months after it was completed). There's very little room for growth, so what you do on day 1 as an analyst is what you'll be doing ten years down the road.

    Advice to ManagementAdvice

    Really review your overall goals and the people you have in place to accomplish those goals. While traditional in every sense of the word, the organization needs to become more nimble in order to handle the challenges that will be presented in the future.

    Doesn't Recommend
    No opinion of CEO
  10. 4 people found this helpful  

    Stay away

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Piper Jaffray

    Pros

    Decent pay and benefits. Some nice people.

    Cons

    No culture and rampant bullying on all levels. very high turnover and overall misery within the co. is very obvious.

    Advice to ManagementAdvice

    Bring back culture. Reduce high turnover. Care about employees.

    Doesn't Recommend
    Disapproves of CEO

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