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Hey Guys,

Interview season is winding up for summer banking positions and I've been fortunate enough to get a few offers. My head is kinda in a mess right now and I'm not really sure where to go.

I'm leaning towards JP Morgan where my impression from talking with them is that I'd basically be able to pick my group - after that its Centerview (do they pay above the street for FT analysts?) and then MS.

Granted I haven't had much of a chance to meet people at MS, so my preferences are really more based on familiarity. Looking past the summer internship into full-time, I don't want to go to b-school and plan to either stay in banking or make the jump to PE after 2-3 years.

Thoughts?

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Comments (40)

  • beamerbenzorbentley's picture

    I'd recommend to get on calls/grab coffee with more people at each firm. Try to see if you can visit any groups as well before you decide. I'd say MS > Centerview > JPM

  • mdk0102's picture

    What groups at JPM and MS? Centerview does pay above street but their culture (as you should know) is different than the BBs. If you want to stay in banking and do that for a while go to Centerview. If you want to do PE I say JPM or MS depending on the group.

  • GBB_19NHS's picture

    MS has pretty random group selection so you could technically end up in ECM or DCM. Usually though you will get your three first choices, except maybe M&A. I would join MS and try to get into M&T or HC for example.

    But if you say you really got along well with the JPM crowd then it might be different. Its up to you really nobody will be able to tell you whats the right choice

    "too good to be true"

    See my WSO Blog

  • In reply to GBB_19NHS
    beamerbenzorbentley's picture

    GBB_19NHS:
    MS has pretty random group selection so you could technically end up in ECM or DCM. Usually though you will get your three first choices, except maybe M&A. I would join MS and try to get into M&T or HC for example.

    But if you say you really got along well with the JPM crowd then it might be different. Its up to you really nobody will be able to tell you whats the right choice

    False. You either get an offer in IBD or GCM. If you get both obviously pick IBD. And it's M&C not M&T.

  • GBB_19NHS's picture

    media comms, true. and in london you might very well end up in GCM even though your initial offer was in IBD

    "too good to be true"

    See my WSO Blog

  • SaberRider's picture

    First of all congrats. As already pointed out, ask the different banks if it is possible to meet more bankers before having to make a decision. Usually this shouldn't be a problem. If you like the people at JPM best after seeing more people at the other places, go with JPM, otherwise I would say MS>JPM>Centerview.

  • GutShot's picture

    If you really get to pick your group, go to JP. Everyone going to MS will be swinging for the same groups.

  • tobo2414's picture

    The groups I'm interested and have been in contact with at JPM are LevFin, FIG, Nat Resources and M&A and I was lucky enough to be interview by MD's in 3 of 4 of those groups - and I've already visited - so I have good relationships with them.

    What are the pros of centerview? It seems to me that they would place as well, if not ever better into PE, then MS or JPM just because you'll have personal interaction with a lot of their senior guys who are really well regarded and have good connections. And when we say Centerview pays above the street, how much are we really talking?

    It seems most people here really like MS over JPM, maybe I've just been inundated with JPM propaganda but they seem to have great deal flow right now across the board - wouldn't a guaranteed M&A, lev fin, or Nat Resources there be better than a random at MS - is MS really still that far ahead of JPM?

  • Hmmmmm's picture

    If it's for the summer I'd take JPM simply because their conversion rate is 90%+.
    Get a full-time offer first and then worry about PE placement.

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  • tobo2414's picture

    @Baboon - that's a good point, although, this is the first year Centerview is doing SA and I get the impression their offer rate will be high, I mean, there's only gonna be 4 of us, any idea on what MS's offer rate is like? Also, anyone have impressions on how JPM FIG is regarded - I seem to fit in best with the people there.

  • Genesis's picture

    I'd go with Centerview. Interesting deals and comp is prettay prettay high from what I hear.

  • porkbellies's picture

    Centerview pays far above street for analysts from what I have heard. You also get incredible deal exposure...just look at the deals they've done, all blockbuster headlines. What could be better than that for your resume?
    http://www.centerviewpartners.com/list.aspx?xitm=2...

  • BANK3R's picture

    MS > JPM = Centerview

    MS opens a lot more doors after an analyst stint than does the other two firms; however, all three are tremendous firms and you can't go wrong with any of them. Congrats on offers.

  • WesternWildOut's picture

    Centerview offers an unparalleled experience, which should filter through even over just a summer analyst program. Especially given what you want to do, you really can't do much better than that.

    Also, given the extreme selectivity of the program (not to mention the guaranteed placement into an M&A role), no doubt you would be extended an offer upon doing well and meeting all of the senior guys over the summer.

  • HappyThanksgiving's picture

    I think MS has a reputation that is much more widespread than Centerview so just a data point to consider.

    Still, Centerview has ridiculous deal flow for a 60 person or so firm. Volume per banker has gotta be higher than Greenhill or Blackstone M&A considering their deals.

  • djkakoc's picture

    tobo2414

    What school are you at?
    For Harvard, Centerview just had a resume drop deadline yesterday.

  • tobo2414's picture

    @djkakoc - a target

    New news - I've decided to drop MS from my decision making, which I know people probably think is crazy but I didn't click with anyone I met there - because of that I feel like I would do horribly in terms of group placement. At JPM, I can basically pick my group, which would be M&A.

    To throw another kink in the chain - I just got invited to fly to London to Interview with Goldman for a Superday. I'm also a British citizen and have worked in london the past two summers... do you guys think culturally Goldman London would be a better experience than say - Goldman NY? I've heard bad things about Goldman IBD in NYC.

    Other than all that, I really like Centerview and am leaning towards there - should I even waste this weekend flying to London? Do you guys think Centerview is a better choice than JPM M&A?

  • seamlessftw's picture

    You've heard bad things about GS IBD in NY? What planet do you live on?

    GS (in both NY and London) is a fantastic firm. Go to the interview.

  • GBB_19NHS's picture

    Free trip to london, go.

    Though a superday doesnt = offer so there is no decision making to take place. If you have time fly to London, enjoy your home country and get to know GS there.

    "too good to be true"

    See my WSO Blog

  • Orchid's picture

    Go to Centerview great shop!!!

  • bulge4lyf's picture

    Are you guys kidding? I would go to Centerview in a heartbeat. Not only do they do mega deals but you get PAID $$$$

    I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

  • bxgs's picture

    Are you guys kidding? I would go to Centerview in a heartbeat. Not only do they do mega deals but you get PAID $$$$

    What's with all this talk about Centerview pay? How much do they pay first year analysts?

  • tobo2414's picture

    By bad things I was referring the analyst experience at GS, meaning the general lack of happiness, Centerview on the other hand, has a reputation for happy employees, even though they work a ton. My hesitation about going to London is that even if I got the job I think I'd rather work in NY to start and the make a mid-career switch to London. Also, from what I've heard, GS in London isn't king like in NY but rather treated like one amongst a few other equals...

  • GutShot's picture

    Centerview is strong. Only drawback is that their transactions seem to be very consumer heavy, so if you're into that it's a great fit.

  • chubbybunny's picture

    Damn, this kid got offers from MS, JPM and Centerview but couldn't get an offer from Goldman.

    Just shows the exclusiveness and superiority of Goldman "GOD IN IBANKING" Sachs.

  • bfin's picture

    Dude, you must have a mesmerizing personality MS JPM Centerview and possiblely GS London? what the...

    The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

    WSO is not your personal search function.

  • Banqueiro's picture
  • porkbellies's picture

    Centerview is probably one of the most elite boutiques there is. Why would you turn this down to be a faceless analyst in a huge class at JPM?

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