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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?

Comments (40)

  • 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 wrote:
    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.

  • 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.

  • 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?

  • 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.

  • 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.

  • 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?

  • 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

    Quote:
    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...

  • 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.