Pros
1. Good people culture, not nearly the back stabbing me me me culture in alot of wall street capital markets groups. 2. In research, guidance from the top but alot of opportunity to build your own franchise your way. Great opportunity for aggressive analysts. 3. Unlike some capital market firms, research seems to really be seen as an asset to drive other businesses and not just a cost center. This favors more experienced analysts vs replacing experienced (and more expensive) with young new analysts. 4. Historically management has made solid decisions and have been very good people.
Cons
1. Not a knock on Stifel, but the industry is going downhill. Technology has driven substantial cuts in fund and industry fees and made information much more easily obtainable. Webcasts of most company presentations, reg FD requirements further dilute the analyst value. Funds (payers for research) have much less to pay firms like Stifel than even 5 years ago, forcing cost reductions and pay cuts at firms like Stifel. There will always be a role for smart, value adding analysts in the industry, but the best days are over for sure. 2. Benefits are weak, 401k match is a joke.