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Wall Street Oasis » Forums » I-Banking Bullpen
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Help me decide a summer offer!! LAZ M&A or JPM M&A
 

bankortrade001's picture
bankortrade001
      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?

  • Help me decide a summer offer!!
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dealz's picture

Locations?

dealz
      IB
 
(Senior Baboon, 181
 
Points)
 on 1/14/09 at 8:35pm

Locations?

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In reply to dealz
bankortrade001's picture

NYC both

bankortrade001
      IB
 
(Chimp, 7
 
Points)
 on 1/14/09 at 10:10pm

NYC both

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gocalifornia's picture

Lazard all the way

gocalifornia
      IB
 
(Senior Chimp, 19
 
Points)
 on 1/14/09 at 10:19pm

Lazard in NYC is legit. They'll work you hard, but in this current economic climate it is the best place to be

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hopefulfuturebanker's picture

How do you know you are in

hopefulfuturebanker
      IB
 
(Senior Monkey, 90
 
Points)
 on 1/14/09 at 10:41pm

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.

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Jamie Dimon's picture

If you have any doubt about

Jamie Dimon
      IB
 
(Senior Baboon, 190
 
Points)
 on 1/14/09 at 11:21pm

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

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Warhawk_1's picture

Lazard has a much higher

Warhawk_1
      IB
 
(Senior Orangutan, 462
 
Points)
 on 1/14/09 at 11:34pm

Lazard has a much higher chance of giving u a FT offer than JPMorgan.

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In reply to hopefulfuturebanker
bankortrade001's picture

a jpm M&A placement is not

bankortrade001
      IB
 
(Chimp, 7
 
Points)
 on 1/14/09 at 11:51pm

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.

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xqtrack's picture

lazard is better...they're

xqtrack
      HF
 
(Gorilla, 618
 
Points)
 on 1/15/09 at 12:00am

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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Bellepheron's picture

Are you kidding me? Lazard

Bellepheron
     
 
(Monkey, 31
 
Points)
 on 1/15/09 at 12:13am

Are you kidding me? Lazard has no subprime exposure and has a booming restructuring practice. In this market, Lazard is the easy choice.

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bigmonkey31's picture

LAZ all the way. and with

bigmonkey31
      IB
 
 
(Orangutan, 271
 
Points)
 on 1/15/09 at 4:31am

LAZ all the way. and with no hesitation

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Execution's picture

I think you guys are being

Execution
      IB
 
(Monkey, 52
 
Points)
 on 1/15/09 at 9:18am

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.

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MDR's picture

Both great firms, depends on

MDR
      IB
 
 
(Gorilla, 513
 
Points)
 on 1/15/09 at 9:37am

Both great firms, depends on your personal preferences (cultures, BB v. Boutique). I sent you a PM.

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In reply to Execution
Devils Advocate's picture

Funny

Devils Advocate
      IB
 
(Senior Gorilla, 869
 
Points)
 on 1/15/09 at 9:43am
Execution:

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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PBateman's picture

Short term = Lazard Long

PBateman
      IA
 
(Senior Monkey, 81
 
Points)
 on 1/15/09 at 9:59am

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.

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In reply to Devils Advocate
Execution's picture

Timeframe

Execution
      IB
 
(Monkey, 52
 
Points)
 on 1/15/09 at 10:32am
Devils Advocate:
Execution:

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...

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Marcus_Halberstram's picture

I agree, you should be more

Marcus_Halberstram
      PE
 
 
(Neanderthal, 3,446
 
Points)
 on 1/15/09 at 10:51am
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In reply to Marcus_Halberstram
MDR's picture

Yes

MDR
      IB
 
 
(Gorilla, 513
 
Points)
 on 1/15/09 at 11:15am
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In reply to Execution
Devils Advocate's picture

Pessimist

Devils Advocate
      IB
 
(Senior Gorilla, 869
 
Points)
 on 1/15/09 at 11:42am

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GoodBread's picture

In this market, finding an

GoodBread
      AM
 
 
(Neanderthal, 3,637
 
Points)
 on 1/15/09 at 4:10pm

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messianic's picture

Can you list your stats

messianic
      IB
 
(Baboon, 108
 
Points)
 on 4/4/09 at 9:16pm
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LeggoMyGekko's picture

Cultural Fit: For Real...

LeggoMyGekko
      IB
 
(Orangutan, 329
 
Points)
 on 4/4/09 at 9:40pm
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astorianepiphany's picture

Congrats! I think both are

astorianepiphany
      IB
 
(Chimp, 4
 
Points)
 on 4/4/09 at 9:44pm
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dipset1011's picture

JPMorgan

dipset1011
      PE
 
(Senior Gorilla, 750
 
Points)
 on 4/4/09 at 9:58pm
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In reply to LeggoMyGekko
The Phantom's picture

.

The Phantom
      HF
 
 
(Senior Gorilla, 965
 
Points)
 on 4/5/09 at 3:00am
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LeggoMyGekko's picture

I only met with one group at

LeggoMyGekko
      IB
 
(Orangutan, 329
 
Points)
 on 4/5/09 at 3:20am
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MonsterChimp101's picture

Lazard

MonsterChimp101
      IB
 
(Monkey, 31
 
Points)
 on 4/5/09 at 8:50am
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xqtrack's picture

pussinboots, i've heard greenhill has a

xqtrack
      HF
 
(Gorilla, 618
 
Points)
 on 4/5/09 at 9:08am

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KMM's picture

JPM only gets M&A

KMM
      IB
 
(Baboon, 128
 
Points)
 on 4/5/09 at 9:28am
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PatrickBateman's picture

through me in the lazard

PatrickBateman
      IB
 
(Senior Baboon, 199
 
Points)
 on 4/5/09 at 11:48am
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In reply to PussInBoots
jimbrowngoU's picture

LAZ

jimbrowngoU
      VC
 
 
(King Kong, 1,311
 
Points)
 on 4/5/09 at 11:55am
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  • Hi guys, Not sure if this is a silly/stupid questions, but it has been constantly on my mind. I am currently interning at an IB (not super prestigious but not boutique either). It has been a great experience as they are really open to teaching. With this said, what types of mistakes are...
    Internship experience
  • First post on WSO: Looking to move into RE full time. Some criteria: real estate focus with domestic/international travel involved. Do any positions matching these criteria exist? From what I've read, it sounds like IB RE is office based, as are most other positions. I don't mind long...
    Real Estate and Travel
  • I searched the site and realize that most posts about this are very old. I'm looking for current opinions. I've read that people who get into IB through SEO generally get less respect from their peers. My questions are: 1. How do people even know if you got in through SEO or not? 2. Why...
    Question about SEO
  • Thoughts on this? Heister brings up a good question: <em>"Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?"</em> via Bloomberg: <strong>Obama Says Bernanke Has Been at Fed...
    Bye Bye Bernanke? Who Would Be Next?
  • So I've been thinking about looking into getting a part time internship at an AM firm at my college town during the fall semester to buff my resume up a little more for recruiting. My schedule isn't too tough, and I'd probably be able to do around 20-30 hours a week if I include...
    Part Time AM Internship
  • For those of you analysts that wear glasses or contacts... which of the two would you recommend? Forget about the way glasses look.... for the purposes of comfort and practicality, are one them easier on the eyes at 2am after staring at a screen for 10 hours? I'm afraid contacts might dry...
    Glasses or Contacts?
  • Did a pretty extensive search but there wasn't too much information out there. Can anyone provide some color on the pay/lifestyle/exit opps at internal strategy/M&A desks at BBs? It seems like at some banks, this desk is more of a back office role with very good hours but minimal...
    Internal strategy and M&A at a BB
  • Proposed Answer: The pay is atrocious, there is virtually no promotion potential, and the work is not challenging enough. Is this a good answer? If I was to give one answer, which one is...
    "What is the worst part of your job" interview question
  • So all new users to WSO get 6 free financial modeling lessons, 5 of my best tips for networking and my best tips for interviewing over the first month of being a user. Tonght I got a response from one of my networking tips e-mails from a slightly older gentleman that is a "financial...
    Why is this Quant so Angry and So Out of Touch?
  • Assume no CD experience pre-MBA. My thoughts are that working in CD requires making long-term investments (albeit strategic/operational, as opposed to financial), so it may force one to think like a long-term owner, a la value-oriented investing. If possible, how long should it take in CD...
    Post-MBA Corporate Development --> Fundamental/Value HF ... good path to try?
  • Does anyone have PE recruiting resources they'd be willing to share/ trade? I'm looking for modeling tests (with solutions) and have a few tests from top tier funds to trade in exchange. Any other recruiting resources would be appreciated as well. Please PM me....
    PE recruiting resources
  • Hi all - As i have been looking through this site, i have found their seems to be a lack on anything Australian. While that is understandable seeming as the industry is US focused, i thought i'd take the opportunity to try and develop a useful collection of tid-bits and facts by sharing...
    Answering Australian I-Banking Questions!
  • As summer rolls around, many folks leave the office a little earlier on Thursday or Friday nights to make it out for a cocktail event or weekend away from town. There will be a solid amount of extra-industry networking going on, to say the least. And by that I mean sloppy cocktail parties. But...
    Summer Cocktail Events - 5 Tips to Keep the Conversation Flowing
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<em>Mod note: make sure to see the great comment below by CompBanker</em> I come from a small town where nobody had ever heard of consulting or IB. I was fortunate enough to attend a top target college (a good Ivy) and land a gig in IB at a BB/EB. I'm starting full time this...
Finance Culture - Personalities
<strong>Background</strong> I randomly discovered WSO nearly seven years ago just weeks after I secured a FT MM IB position. The website was extremely nascent at the time with only a few thousand registered users. The majority of the users were college students with only a handful...
How WSO has enhanced my IB/PE career
After over one year in the making, the <strong><a href="http://www.wallstreetoasis.com/2013-wso-compensation-report-full">2013 WSO Compensation Report</a></strong> is here! Access to the FULL 108 page 2013 WSO Compensation Report is <strong>100%...
2013 WSO Compensation Report has Arrived
Where do i even start..I learned so much from this forum. The brutally honest opinions, sincere willingness to help, the technical information and random tips on everything has been absolutely crucial for me landing this offer. Coming from a non-target I didnt get that 3rd year SA position at...
Thank you WSO! Got my FT Offer! ADVICE NEEDED
When I first started as a PE analyst, I constantly struggled with judging the amount of time I should spend on reviewing sourced deals. How much time is enough to really get a handle on the company’s revenue streams? How granular do I need my analysis to be on industry threats? With this...
Misguided Efforts: A Cautionary Tale
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a...
WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond)
Many of the questions that have come in surround recruiting for front office Wall Street careers from a non-target so we’ll start with some ideas for recruiting, move on to interviewing, preparing for the job and finally long-term career management advice. Before we begin, it has been...
Stand Out as a Non-Target: Recruiting (Part 1 of 4)
Any Asset Management people here who could give me some insights on it, such as the nature of the work, the pay, the hours, the potential for career advancement, ect? I was looking into IB before but I've decided that I would rather pursue a career that's more intellectually...
Asset Management a better choice than Investment Banking?
<img src="//img.pandawhale.com/48721-Sexually-Oblivious-Female-Meme-Ze2w.png" alt="Sexually Oblivious Female Meme - Favorite Position? I would like to be a CEO.">
If you could be the richest person in the world with your dream job only as a public virgin forever would you do it?
<em>Mod Note: Blast from the Past - "Best of Eddie" - This one is from June 2011.</em> <em><strong><u>Freeriding</u> :</strong> The illegal activity of buying a stock and selling it before paying for the purchase.</em> - <a...
Come On and Take a Free Ride
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