Help!! Morgan Stanley FSE vs JPM ECM?

Hi everyone,

I just want to preface this by thanking the WSO community for being an invaluable resource these past few years!! I'm currently a junior at a target on the east coast with two really exciting opportunities for next summer, and I'm at a pretty serious crossroads as to which offer to take. As you can probably tell from the title, I'm deciding between Morgan Stanley's Firm Strategy and Execution group in New York and JPM's TMT ECM group in San Francisco. FSE is a very niche group within MS, they only recruit from HYPW, and it's corporate strategy and internal M&A work (like the MS acquisition of Smith Barney from Citi). They train with IBD the first week of summer, and work closely with C-suite management. I was at Morgan Stanley last summer as a sophomore analyst in investment management, and I really loved the firm. JPM's offer is pretty self-explanatory, I think ECM would be a really fascinating and fast-paced role, and TMT in SF just sounds like an exciting place to start my career.

If anyone here as any experience working in FSE or in an equity capital markets role I would love your opinions and advice! Thank you so much!

BTW, this is the job description for FSE:

"The 10-week FSE Summer Analyst program takes place at Morgan Stanley’s headquarters in New York. Summer Analysts will have the opportunity to work on both strategy projects and principal M&A transactions, while gaining direct exposure to senior management. On strategic consulting projects, Summer Analysts can expect to develop advanced problem-solving skills, strategic thinking frameworks, and a much deeper understanding of the global financial services industry. Through analysis and execution of principal M&A projects, Summer Analysts will learn the fundamentals of company valuation, deal sourcing, structuring and execution, due diligence, negotiations and business integration."