JPMorgan FIG
What do people know about the group? Deal flow, prestige, rankings, lifestyle, exit ops, etc...
Thanks.
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Not as good as GS/Citi/LEH.
yet no1 in europe
And FIG is FIG---in a place by itself.
What do you mean sol?
i feel FIG has a certain stigma associated with it.. is it that different from other industry groups? i met an associate who advised me not to go into FIG because you analyze financial companies much too differently compared to other industries.
on the otherhand, it is typically the largest revenue generator at most banks (bofa, citi, jpm?) so .. more real work?
they work a lot
But TMT places better in general I hear.
^ the thread is about JPM FIG, not GS
Deal flow is huge, lots of interesting deals -- in my opinion, FIG industry is a lot more appealing than general industries -- more complex transactions.
Is really JPM FIG number 1 in Europe? Although the knowledge/valuation techniques are different,is it realistically possible to switch to an other team after a while?If it is more complex than other industries then it should be easier to switch from FIG to an other group which is considered as less complex though.. As a future 1st year analyst I am just always surprised to see the reaction of my friends who work already in IB when i tell them that I want to work in FIG.I feel as a fool mixed with a sado-maso after I discuss with them.Is that so crazy??Help!!
They poached a lot of senior people recently (about 3 or 4 I think). So FIG is a group that JPM does care a lot about.
FIG is a niche group. If you think it's something you will enjoy, then by all means go into it. But if you're not sure what you like, it may not be the best place to go. Exit op-wise, people will say that you will not have a shot at a decent PE/HF. In reality, your ops may be more limited than someone from a more industry group (ie. C&R/Industrials), but you won't be completely pigeon-holed.
JPM, like most banks, has an inherent conflict with respect to being able to do bank deals in FIG. That's why a lot of banks turn to boutiques for advisory work - would you want to open up the kimono to a competitor?
In most firms, FIG is a bit isolated from the rest of the bank. They tend to do their own work in M&A, but the work is (in my opinion) simpler than conventional M&A. As with any ultra-specialized discipline, this can impact your ability to translate this experience into opportunities in non-FIG areas.
Having said that, I can't tell you enough how highly I think of Marc Berman.
Excellent point- I never thought about the fact that FIG at banks with commercial arms might be perceived as threatening to their prospective clients.
JPM FIG? (Originally Posted: 05/08/2011)
Anyone have any insights? There aren't any good recent posts regarding it specifically...
Culture? Good learning experience? Placement into PE/HF?
Thanks.
...or no one could answer. -.-
I know people there and am working my way over there, so I can help a bit, but am by no means an expert:
culture: JMP is highly regimented and not family friendly. get ready to work - a lot. culture can be summed up as "put up or shut up" and "fuck you, pay me"....sometimes shortened to simply "fuck you" or "pay me". If you make friends, cool, but don't expect it there. If you want a warm and fuzzy environment, try MM or buyside.
learning experience: excellent. Also remember, that with ER, it's largely a function of how good the lead analyst is, so if they're good, you will get an excellent start. If they suck or you just can't work with them, get into another group as soon as possible
placement: I don't know. I'm not gunning for exit ops, so can't help you there.
Try the search feature, as JPM has been written about ad nausea here
FIG is the largest group at JPM and is divided into 4 verticals (banks, insurance, specialty finance...I forget the 4th). Analysts are not generalists - they specialize in one of the verticals and pick a secondary vertical as well akin to a minor. But the culture of this group reflects the huge size of it. I imagine you get close with the people within your section while also being part of the larger FIG network. I don't think the analyst class (~20 people strong) is as close as those in other groups.
Other than that, the hours are actually reasonable. JPM FIG got destroyed in 2007-08 when they generated 50% of the bank's revenue, and since then they've put a series of rigid controls in place - tracking hours, mandatory occasional weekends off, etc. What other groups do on an informal basis to promote work-life balance is done more officially here.
Learning experience and placement is on par with other good groups. I don't know a lot of analysts going to top megafunds if that's what you're after - but the exit opps are definitely there.
JPM FIG (Originally Posted: 03/28/2013)
Any insight into the group in terms of exit ops/dealflow compared to other JPM industry groups?
strongest group, highest revenue generation
Where do you get your info? It terms of revenue generation, it's not #1, it's not even #2. 2012 revenue generation at JPM was TMT, DI, then FIG. TMT did $700m+ in fees alone last year.
One of the top FIG groups along with GS. Enough said.
often neck and neck with GS FIG in terms of dealflow (exit opps are a different story, as expected)
Are exit ops really all that different from another industry group? I would think a top group with tons of dealflow would get some pretty good looks
FIG is quite specialized though. People forget that. Same w/O&G.
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