Need some solid advice - JPM TMT/FIG

Hi Guys,

What are everybody's views on JPM's TMT and FIG practice in terms of an analyst experience. I'm thinking about the analytical modeling experience, prestige, exit opportunities, how recruiters view the groups, deal flow, the people (if anyone has worked at both) all the usual metrics. I'm also considering whether the uncertainty in the markets will affect one of these more or less. Lastly, I heard that JPM's FIG practice does its own M&A work whereas TMT works with their M&A practice which can hamper an analyst's modeling experience.

Any insightful views? Appreciate the help

 

both of the groups put in extremely long hours, however you'd probably work longer hours in TMT. within fig you will do your own m&a, and you not be using ebitda to do your models. instead you will be using ddm (dividend discount model). this is a harder method that is only applicable for FIG companies, hence cain's comment that FIG is too arcane and specialized, however there are a ton of PE shops that invest in FIG companies and will want to hire FIG IBD analysts. In TMT you will probably have a few more exit opps, most notably VC. In terms of deal flow, neither of the groups is at the top of the league tables, and the market conditions should definetely hurt deal flow for both groups. I have friends that work in both of these groups, so if you want me to go into more detail, feel free to message me.

 
Best Response

Wow, it never ceases to amaze me what people will say about things they clearly know nothing about.

TMT is the most sweatshop-like group at JPM, bar none. Very strong large cap telecom and media practices. Uneven tech practice with selected areas of strength like fintech, but overall a second-rank practice.

Understand that the cross-staffing system means that a TMT analyst does the exact same thing as an M&A analyst would do on an M&A deal. Just not as well (my M&A bias comes through there, but there's some truth to it, since the TMT analyst invariably has less M&A experience as his M&A equivalent). There are no analysts in the M&A group who "specialize" in TMT. Jimmy would have the ass of any RM who tried that.

FIG is a totally different animal than non-FIG investment banking. Some very stong bankers who I respect a ton, but FIG is a place you go when you want to do FIG forever. Anyone who tells you that doing FIG M&A will position you to do conventional M&A is lying to your face. Lastly, FIG is not that demanding lifestyle-wise, no matter what their guys would have you believe.

 

Repudiandae enim ipsa quisquam voluptatem nemo nostrum fugiat officiis. Odio quo veniam nihil blanditiis. Repellendus et beatae accusamus quia.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
DrApeman's picture
DrApeman
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
kanon's picture
kanon
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”