An offer from tier 2 bb (think CS JPM)... should I keep hunting or sign
?
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regardless of what someone posts here, this is ultimately your decision to make
don't let others influence your decision by claiming that other banks are more or less prestigious
you should determine how you fit with these particular banks as you will be killing yourself for two years anyways
you're going to be a banker either way so congratulations ~ good luck
i guess the more precise question is how much better will exit ops be from a ms or gs than jpm
It seems sad to me that a key question for people when considering a job in banking is how quickly they can get OUT of banking and into something else...
Grab a tissue then....
Wow. With almost no information given, you're asking us to base your decision on whether you can "move up" a tier.
First off, these tiers don't really exist. It's not as black and white. JPM Lev Fin is traditionally one of the best departments on the street, while their residential mortages group is not as strong as Lehman or Bear. Yes, both markets aren't doing well, but that can change quickly. Deal flow is pretty important, but within the Bulge brackets, it isn't a make or break move.
Did you fit into your company? Are you happy there? Have you made contacts at another company? The stock prices of all the investment banks have dropped recently, due to the negative outlook of the credit markets. Do you think they're going to hire a large incoming class? I doubt it, when I see layoff articles on bloomberg and in the journal. The banks have invested in their interns and always need a constant flow of new analysts, but where they can reduce costs is in full time hires. My guess is that full time hiring will be tougher this fall with fewer positions opening up.
JPM is a tier 1, with an extremely different culture than MS or GS. If you liked the people there, staying is a no brainier as culturally it is on the other end of the spectrum.
CS is more dicey, but they are definitely the most diverse, and I have a lot of respect for that.
Beyond all that jazz, how you market yourself, how you do in your position, and how you handle the recruiting process will have much more influence on exit ops than which of these banks you go to. You can certainly find people on CS level (and a few banks below) at the top PE firms. Choose where you will do the best and people will advocate for you. That is by far the most important.
jpm is not on the same tier as gs and ms though, im asking with the current hiring market. should one just suck it up and sign?
The point is, prestige around that level is more or less the same, so your decision should really be based on which bank was the best "fit" for you. If you liked JPM, go ahead and sign up now, you can't go wrong with them.
Agreed. If you like the people where you are, sign. If you don't, keep looking.
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