Help me decide a summer offer!! LAZ M&A or JPM M&A
IB
(Chimp, 7
Points)
on 1/14/09 at 8:18pm
i recently got an offer from JPM M&A and LAZ M&A. what are some pros and cons to each and which should I take?





Locations?
Locations?
NYC both
NYC both
Lazard all the way
Lazard in NYC is legit. They'll work you hard, but in this current economic climate it is the best place to be
How do you know you are in
How do you know you are in M&A at JPM this summer? The SAs I know going there this summer haven't even ranked the groups yet.
If you have any doubt about
If you have any doubt about M&A and think you would want to explore other areas of finance I would recommend JPMorgan ... I am a senior so take what I say with grain of salt
Lazard has a much higher
Lazard has a much higher chance of giving u a FT offer than JPMorgan.
a jpm M&A placement is not
a jpm M&A placement is not official but highly likely. they decide in spring but a lot of the process depends on who interviewed you.
lazard is better...they're
lazard is better...they're not having any problems, and if they give you an offer, you know you're not going to get fired because trading just lost another billion dollars.
they're also thriving/still doing a lot of work. my understanding for laz though was that they didnt place you into groups until the beginnign of the summer
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Are you kidding me? Lazard
Are you kidding me? Lazard has no subprime exposure and has a booming restructuring practice. In this market, Lazard is the easy choice.
LAZ all the way. and with
LAZ all the way. and with no hesitation
I think you guys are being
I think you guys are being far too short terminist. Yes in this market Lazard is the best place to be working. If he was starting now, I would recommend taking Lazard. However he won't actually start work until Sept. 2010 and by then everyone expects the market to have picked up and they'll be much more M&A to share around. JPM Investment Banking had a fantastic 2008, top 2/3 in pretty much every product/region. You'd expect them to be able to leverage their relatively good position when the market picks up.
The results today were bad but better than expected. Dimon is consistently realistic in setting the market's expectations unlike Lewis, Pandit and alike. I highly doubt there will be more huge write-downs or trading losses.
I wouldn't say you'll have more chance of getting a FT time offer at Lazard. JPM SA count will probably be way down and if he managed to get the SA offer, he probably has a great shot at an FT offer.
Maybe my views are skewed because I work in London, but you would be mad to turn down a JPM offer for Lazard here. Probably due the fact that JPM is much more prestigious over here mind you...
I would say if you do take Lazard, take it because you want to work at an M&A boutique rather than a BB. Not because you may not get a job at JPM, traders may lose billions etc. If you want to work at BB, JPM is the place to be at the moment. My 2 cents.
Both great firms, depends on
Both great firms, depends on your personal preferences (cultures, BB v. Boutique). I sent you a PM.
Funny
I However he won't actually start work until Sept. 2010 and by then everyone expects the market to have picked up and they'll be much more M&A to share around.
Funny, because I also recall people in late 2007 expecting the market to not worsen to this degree, and then Bear Stearns collapsed in March; and then, people expected things to pick up during the summer of 2008. What was the saying? "We're in the 8th inning of the ball game," and then well Lehman went down, Merrill got bought, and Morgan Stanley flirted with death.
It's safe to say noone knows what the hell they're talking about.
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Short term = Lazard Long
Short term = Lazard
Long term = JPMorgan
Like someone said above, Dimon is an excellent leader. I also expect JPMorgan to see a quicker recovery when the market starts going back in the right direction.
Timeframe
I However he won't actually start work until Sept. 2010 and by then everyone expects the market to have picked up and they'll be much more M&A to share around.
Funny, because I also recall people in late 2007 expecting the market to not worsen to this degree, and then Bear Stearns collapsed in March; and then, people expected things to pick up during the summer of 2008. What was the saying? "We're in the 8th inning of the ball game," and then well Lehman went down, Merrill got bought, and Morgan Stanley flirted with death.
It's safe to say noone knows what the hell they're talking about.
You point is good but look at the timeframe. We are not talking about summer 2009, we are talking about Autumn 2010! And, at the end of the day, your examples make a point but expectations can't always be wrong.
Are you really saying that First Year Analysts who start in 2010 would be better being in a restructuring team than an M&A team? I'm not convinced.
Our deal flow here is starting to pick up already...
I agree, you should be more
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Banking Resume
Yes
Pessimist
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In this market, finding an
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Can you list your stats
Cultural Fit: For Real...
Congrats! I think both are
JPMorgan
.
I only met with one group at
Lazard
pussinboots, i've heard greenhill has a
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JPM only gets M&A
through me in the lazard
LAZ