JP Morgan Securities - AM interview

The only REAL upcoming interview I landed- JP Morgan Securities Asset Management division as an Investment Analyst

1. Has anyone worked as an IA with JP Morgan Asset management?
2. What is the interview process?
3. Is a lateral move from the AM to IB possible?

Also, after busting my a$$ networking I was offered coffee with a MP at a boutique PE ( 4 partners, 0 analyst). The PE firm was founded in 2013 and has closed 4 deals since inception. The MP expressed the possible need for an analyst in 2 months as the firm expects to close more deals and receive more capital. The downside is that the pay would be below most firms - I was asked to call back around that time.

In the event both outcomes become positive, which one should I pick? Ultimately, I want to do deals. I have 2 summer PE under my belt.

Thanks.

Kevin.

 
Best Response

Yes, I worked with JPMS in a large city last summer as a PWM intern in the AM department. The interview process largely depends upon the advisor / team you'll be working with. As you may know, JPMS is much more independent than JP PB. Each team / advisor can basically do whatever they want provided they give the firm a fat check every year.

1st round phone interview was almost entirely fit based, with a few Excel and market questions mixed in. My final interview was 40 min. of fit questions and shooting the breeze about my resume, and 30 minutes of technical questions, like "if a 70 y/o client has $5mm to invest today, and wants to preserve her capital for future generations, what would you do?"

If ultimately you want to "do deals," this isn't the best stepping stone for you, unless the thrill of signing on a client with $50mm net worth at 0.70% annual fee counts as a deal. Lateral IB options are available within JPMC, and they like to hire people who have worked with them before, but don't expect the red carpet just because you worked at JPMS. I was specifically told in my interview not to take the offer just to get to IB. I actually transitioned from JPMS to JPM PB this summer.

I don't know enough about the boutique to make a suggestion regarding your decision, but personally, it sounds too small for me. At least with JPMS you can lateral transfer to other less competitive departments and network your ass off during the internship.

FYI, I loved my time at JPMS. I worked with a great team that really allowed me to get hands-on across all aspects of the business, everything from client interaction to Excel modeling. But like I said before, each team is so different that I can't specifically recommend a decision for you.

Breaking printers since 1999
 

The four interns in my branch were paid $22/hr, and we worked 8.5 hr days. In at 7:30am, and the office cleared out at 4pm. This summer (at the JPM Private Bank in NYC), I'll be making $85,000 pro-rated for 10.5 weeks (so about $1,635/week) and a $2,500 relocation stipend. This is reflective of the new analyst pay structure at JPM of $85k+bonus. Interns don't get bonuses, but it sounds like this is a FT offer, right?

I took the JPMS position the summer after my sophomore year by the way.

EDIT: Also understand that JPMS is an odd animal. An "investment analyst" in LA might mean something entirely different than an IA in Chicago. Although my experience was working directly with a private financial advisor and a relationship manager, your offer might entail a very different job description. JPMS is a very independent, non-cohesive subsidiary of JPMC.

Breaking printers since 1999
 

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