Pros
The people at the St. Petersburg, FL headquarters are the best part of the job. Everyone wants you to learn because it ultimately produces higher-quality work for the entire team. Management in my department genuinely cares about our well-being (upper management, as per usual, does not—but that comes with the territory). In under two years here, I’ve learned more than I did in my entire career and throughout college. The learning curve and intensity at first are steep, but once you get the hang of things, it becomes very manageable. Earnings (aka busy season) following each fiscal quarter is intense, typically 3-4 weeks of non-stop work, often 12-14 hour days, 7 days a week. Outside of earnings, work is much more relaxed. You continue to model estimates and write notes if there’s any impactful news in your coverage, but often I’m off work by 2 PM on Fridays if nothing major is happening. You also have the opportunity to work on “passion projects,” IOCs, or deep dives into market trends you’re curious about. It’s a really rewarding job and company if you’re intellectually curious (if you don’t like to read the news, this job is NOT for you!). Everyone here is smart and passionate about their work, but most are able to avoid the too common finance philosophy of being married to their work. I genuinely enjoy going to work most days, and I’ve met some of my best friends through happy hours, company events, or just within my department. As a person in your 20-30s living in a beach town with good people, it’s pretty awesome. Having previously worked in a larger financial hub, I’ve found that the work-life balance here is far better and more enjoyable. There is still a “work hard, play hard” culture if that’s your style, as is typical in the industry, but it is much more manageable. Can't recommend the culture enough!
Cons
This isn’t so much a real con as it is an observation that feels like a relatively fair trade-off that I think people need to be made aware of. While the culture and people are awesome, this isn’t New York, Chicago, LA, or any of the other major financial hubs. There are only a few smaller investment banks in the Tampa area, and some are just regional offices or boutiques (so if you want to work at Raymond James in St. Petersburg, you likely would have to move again if you wanted a new job). As a result of its HQ's location, there isn’t much of a competitive market for salaries or benefits. Raymond James is pretty much the only major player here. Being a middle-market firm, they can essentially set compensation as they see fit that is more favorable to the company's expenses. But the location is also one of its biggest draws. That said, Florida (particularly the Tampa Metro area) isn’t as cheap as it might seem, even with the appeal of no state income tax.