With all the stuff going on at the big firms (people getting laid-off, bonuses being paid out over 4 years), is the lure to work and make a career at the big shops there anymore. What is the general consensus about JMP Securities as a next step for someone coming from an M&A group? Will this totally pigeon hole me forever at a shop like this. They do small equity raises and some M&A. Constructive points please, I know I will probably get bashed for asking this because everyone thinks GS to KKR to HBS to KKR or SAC is the only way to go.
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bonuses being paid out over 4 years? Maybe for senior guy but that's definitely not the case for analysts and associates anywhere. You will be doing a lot of co managed stuff at JMP where your work will consist of listening to diligence calls and putting together internal memos. If you don't want to work at a bb, try and get into an EB, or top mm (HL, HW, WB, Baird, etc.). As a junior guy, you want to get the best experience possible while building a brand on your resume. The hiring market is hot right now, I personally wouldn't settle for a JMP type shop if other options were available.
A portion of Assoc bonuses are paid in RSUs, and the vesting period is typically 3-4 years.
BBs are struggling...but you will still get a good experience there as an analyst. If not BB, consider firms like Centerview Partners, Evercore, Lazard, Moelis, PJT Partners
JMP Securities and such are two levels down from there as you think about your career. You may regret going to JMP over BB or EB
If you are a career switcher and want to get into banking, can you get into an Investment Banking associate role post-MBA at a small firm like JMP without doing an internship in Investment Banking during the previous summer?
Plenty people with no prior banking experience go to better placed than JMP after their MBA...curious, why JMP?
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