Piper Jaffray Reviews | Glassdoor

Piper Jaffray Reviews

9 reviews

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2.0
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Piper Jaffray Chairman and CEO Andrew S. Duff
Andrew S. Duff
7 Ratings

9 Employee Reviews

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Pros
  • Down-to earth and very approachable management, friendly colleagues, good work-life balance (in 9 reviews)

  • Great culture, many of my coworkers are not the typical "investment banking" type (in 7 reviews)

Cons
  • Company stresses work life balance but it's almost a joke how much it is actually implemented (hint: pretty much not at all) (in 5 reviews)

  • Long hours (inherent in the industry) (in 5 reviews)

More Pros and Cons

  1. Helpful (3)

    "Culture Problems"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Banker in Minneapolis, MN
    Current Employee - Investment Banker in Minneapolis, MN
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    *Friendly co-workers
    *Decent compensation package
    *Good work-life balance

    Cons

    *Culture problems seem prevalent throughout company--specifically the lack of accountability for actions taken (including senior management). This has been an employee concern for several years.
    *Employee morale suffers due to consistent layoffs--management appears to think this is the solution to all issues.
    *Senior management is very "clique-ish"--either you're part of the clique or your career suffers.

    Advice to Management

    *Improve culture by holding employees accountable--especially senior management
    *Only utilize layoffs if all other options have been exhausted--otherwise employee morale is needlessly lost.
    *Reduce the "clique" culture by requesting and truly accepting other opinions from a wide variety of groups.


  2. Helpful (3)

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

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Research Analyst in New York, NY
    Current Employee - Research Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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.


  3. Helpful (2)

    "PJ"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Francisco, CA
    Former Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    The management team are accessible.

    Cons

    clique-ish, not comfortable working environment.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (3)

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

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Minneapolis, MN
    Former Employee - Anonymous Employee in Minneapolis, MN
    Doesn't Recommend
    Disapproves of CEO

    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 Management

    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.


  6. Helpful (2)

    "Not a huge fan"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Trading Support in Minneapolis, MN
    Former Employee - Trading Support in Minneapolis, MN
    Doesn't Recommend
    Disapproves of CEO

    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 Management

    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.


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

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Banking Analyst
    Former Employee - Investment Banking Analyst
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Piper Jaffray full-time (More than a 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 Management

    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...


  8. Helpful (1)

    "Not What It Used To Be--Beware."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Capital Markets
    Former Employee - Capital Markets
    Doesn't Recommend
    Disapproves of CEO

    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 Management

    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.


  9. Helpful (4)

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

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst
    Current Employee - Analyst
    Doesn't Recommend
    No opinion of CEO

    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 Management

    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.


  10. Helpful (4)

    "Stay away"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Disapproves of CEO

    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 Management

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



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