Have offers from both groups, ultimate goal is either GE/PE. Which is the better choice? Any advice appreciated.
With the recent news of GS's culture and lack of care for junior bankers, would GS TMT still be the right choice?
JPM has increased base analyst pay and has initiatives to help with a better work-life-balance.
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Is this for SA or FT?
GS TMT. Nice job!
Your compliment was sufficient, Lewis.
Congrats on the offers - I am prepared to offer you my future daughter as a child bride
I'm a current banker who doesn't know a lot about these groups in particular, but my $0.02 is to choose whichever group you got along with the most (i.e. people), unless you have a real interest in TMT in which case you choose GS TMT. Simple.
Both groups will set you up well for PE although the pressure is still on you to perform in interviews.
No matter what you're hearing about GS work-life balance being poor or JPM's initiatives to improve work-life balance, with both groups you'll still be exposed to tough hours and high pressure (I'm thinking it'll be worse than all but 90-95% of other banking groups on the Street). I'm basing this on what has been said or what I've heard about these groups. Also, I wouldn't pay much attention to what they say they're doing about work-life balance, i.e. take with 5 grains of salt. So essentially, hours are a wash.
Removed
Worked with GS TMT on two occasions and my general experience is that there is no WLB there
On the sell-side we were co-advising (when I was an analyst) the junior bankers got worked. They probably had 3-4 other deals going on (it is GS TMT afterall) but the analyst and associate were plugged in till 2am and would come back online 7:30am-8:00am on a consistent basis. They also almost always responded within the hour during Saturday/Sundays (even if it wasn't necessarily urgent).
Not sure how bad JPM M&A is but I couldn't fathom working like that for 2 years straight, especially when base is $85k and the street is at $100k lol
was it with gs' nyc or SF team?
you absolute beast
Have coffee with Analysts - MD's in each group. Pick the group you vibe with the best
Great groups just understand that your WLB will be nonexistent in either so I wouldn't focus too much on that.
You can obviously chat with people and see who you vibe with best but the reality is turnover extreme -- GS TMT being notoriously bad but JPM M&A is sweaty as hell too. Having said that, if you really want something TMT-focused after your program, it's a pretty clear choice.
Either way RIP
#RIPBOZO
Why is JPM always ranked lower than MS and GS? They seem prestigious af.
Idk. In some circles jpm is prob ranked higher
Does anyone know anything about JPM M&A? Hours, culture, experience working with industry groups, etc.
I'll give you an update in a year
So what happened?
It’s really bad I’ve heard. As in analysts, especially this past year have left in droves. You can tell by the threads on here throughout the year from analysts looking to lateral. Anecdotally know one person who left after 8 months and another who left after 14 within the last 2-3 years. Brutal culture and some shitty VPs as well
Have heard absolutely awful things about GS TMT (direct from people in the group). The group makes other sweaty IBD groups looks like paradise... I would personally avoid the group like the plague, especially given the exit opps are only marginally different than going to another top group or bank (EVR, etc). You can probably recruit better also if you have some semblance of mental / physical health.
Get coffee with the analysts and see where you think you will fit in the best. Also, if you don't have an interest in TMT, M&A will probably be a better experience.
From my memory of Wharton/Penn OCR 2014 the JPM M&A people seemed to be nicer and cared more about juniors than the Gs TMT folk. More senior level attention, time, interest than GS though GS did bring out LB to chat with us and give a nice talk. But maybe it just had to do with me personally and my fit with either of those places. Maybe in general it’s the other way but that was my experience from almost a decade ago…
- Agree that culture won't be the best; personal perception is that GS SF TMT culture is better than NY TMT; both groups have better culture than GS Industrials… Saturdays have been pretty well-protected for the SF TMT team, especially since the leak of survey
- On the comparison between GS / JPM and boutiques, you have to understand that GS (or GS TMT ) is not "prestigious" because it performed well / closed massive deals in the past few years; it's because it's been consistently doing that and sending people to high positions across industries for decades; this edge is not something a boutique can match in any shape or form anytime soon; anyone somewhat removed from the IB / PE circle would know GS / JPM, but you cannot and will not be able to say the same about Evercore or any other boutique, even though those are amazing places from a learning / PE recruiting perspective
- If your post-banking goal is to get into venture / growth equity, go with GS TMT; if buyout, you should be able to enhance technical skills more easily at JPM M&A since that's what you will be doing every day; if open to different paths, GS TMT
- Brand name absolutely matters, especially in the early days of your career; if you are able to get both offers, no doubt you can thrive at any bank you end up with, but one thing that's hard to shape or affect in a brief period of time is how you are perceived by outsiders – many doors open for you simply because of the prestige of your employer
Solid post. Thank you
Will second prestige / brand absolutely matters early in your career. GS / JPM will be a tossup here as far as prestige goes for outsiders. Working 7 days a week is illegal in California, which is probably why they take it more seriously. However, I have heard pretty trash things about GS SF TMT... you basically need to ask for permission to shower, brush your teeth, and eat...
Analyst at GS TMT here - won't weigh in on the JPM vs GS thing as I'll be biased, but wanted to mention culture in SF TMT is far worse than NY TMT (after all, that's where the survey came from).
Average SF SA pulling 95+ hours a week and many working 4AM on July 4 weekend. NY SAs closer to 70 hours a week. Everyone in SF is trying to move to NY, including those who got offers there. People vote with their feet, and trust me if given the option 90+% of people would take NY TMT over SF TMT.
Are you an intern or analyst…? To say that everyone in SF wants to move to NYC is just completely untrue. “Many” working until 4am on July 4th weekend… nope that’s not factual either.
I'm an analyst. Three interns mentioned this.
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