IB Analyst Offer: JP Morgan vs Lincoln International
Would I be crazy to choose Lincoln International over JP Morgan as an IB analyst (both in NYC)? I know JP is far more prestigious but I liked the people/culture at LI significantly more. Would choosing LI set my career path back due to having less exit options and a less recognizable brand name than JP? Also, would LI have better hours/work-life balance since it's MM? I know long hours are part of the job and I'm ready for it, but I'm just curious either way. Looking to do 2-3 years in IB and reassess my options afterwards (likely MBA and/or PE). Any advice is appreciated. Thanks guys!
Groups?
M&A for LI, Equity Capital Markets for JP
Yeah, tbh this is actually a real decision you'd have to make. Great post here.
With that said, you already know a likely re-branding will be necessary, which means you are probably an ambitious type of person. I don't know much about hours at LI, but because it's M&A it could be worse than JP ECM. If you really are ambitious, the longer hours might not be bad, and I suppose that you know how close and intimate teams are there relative to JP. Seems like a strong case for LI. Do you know anyone at JP?
Far better to do M&A in middle market than ECM anywhere. The fact that you like the people more is an added bonus.
yes - you would be crazy. MM doesn't mean better hours.
PE exits might be more realistic from LI M&A than JPs ECM...
I second this comment. If PE is your end goal go with LI. However, in terms of branding for b-school its a hard one. Either way, you should have a good experience at either institution that would open doors.
The fact that the JP offer is an ECM offer makes a huge difference.
In terms of hours, JP ECM should be roughly the same (if not a little less) than LI M&A. In terms of PE exit opps, LI M&A wins there, but when it comes to B-school, I think JP ECM might have a slight edge over LI there.
I think here it comes down to two things: 1. The type of work you're interested in 2. The culture (which you already mentioned, you really liked people at LI)
Personally, I would go with LI here, but if you think there's a solid chance you can lateral over at JP (maybe you have strong connects in some of the other IB groups), I would take the JP offer.
Good luck.
Would go for Lincoln M&A personally over JPM ECM.
Not even a question. LI M&A.
I would go with Lincoln because M&A will offers better exit opps than ECM, but more importantly because culture does actually matter. Your analyst years will be much more enjoyable if you're working with people who you like and can get along with. It's also not like Lincoln is some scrub IB- they're a top MM. If you decide after a year of IB that you want PE or something where JPM can help you more, you can always lateral.
And no, hours are not materially better at MMs.
MM hours aren't better than BB and if anything can be worse since you're typically dealing with less sophisticated or clients that need more hand holding or clients that have smaller internal finance departments that need much more help; you also work on smaller deals which means you need to do more of them to bring in the same revenues.
I know people that work and Lincoln (not in NY but in another large office) and the culture sees great, just don't go their expecting shorter hours.
That being said, if you want to do PE, or B-school, Lincoln M&A is much better than JPM ECM--JPM won't given you any modeling skills to make you competitive in PE. The exit ops for ECM are typically investor relations type roles or b school, although many people stay on for long careers. You do almost no modeling in the group and it will be next to impossible to break into PE from there.
Would go for Lincoln, they are growing fast and dealflow is very solid.
You just responded to a 2 month old thread. On the bright side you still look good relative to the guy that necro posted an 11 year old thread.
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