JP Morgan Group Dilemma (London)
Hi, I've been lucky to get an offer for SA at JPM IBD (London), but I have yet to get a place in a particular group. I am really interested in DI (industrials) and energy as something more tangible and systematically important for the European economy, and I'd like to find out more about the pros and cons of both.
I know that DI's culture is relatively chill and I assume energy's might be worse due to more complex models - is that true?
I also know that both groups have particularly distinct subverticals - how does your work differ depending on how you specialise down the road? I suspect the question is particularly relevant for energy due to the differences between the infra/renewables and NatRes/O&G areas.
I would also be happy to hear about how the two areas look like regardless of their standing at JPM. What type of people thrive in energy or industrials investment banking? What are some of the aspects that distinguish each of the two groups compared to other coverage teams? How are the exit opportunities (particularly curious for energy) for both in Europe? Here it might be relevant that I only speak English and one of the Eastern European languages.
Finally, I would be really grateful if someone could shed a little light on what the group assignment process looks like at the London office of JPM.
I know it's a lengthy post but I will appreciate your help and advice!
Congratulations! I can answer a bit of what you asked.
I interned in one of your two preferred teams & I wouldn’t say there is a big difference between the two in terms of how hard they work.
As a summer analyst, I think the Energy team’s case study has historically been easier than DI, which is probably the only modelling you will do as a summer analyst.
I can’t really say much of value about the traits of people who succeed in those teams aside from that in energy people who prefer a more technical, challenging vertical will have more fun.
Both of these teams are really good in their area vs other banks.
I gather the exits from DI are better because you develop a broader skillset.
Group assignment process:
I understand I didn’t answer all your questions but I hope this helps.
Thanks this was helpful for me as I also have an offer for JPM. I have a follow-up.
I received an offer for "Industry" groups, so when you say all 20 teams, are you including both product/industry groups that are up for allocation. I kind of wish that I had the opportunity to choose a combination of product/industry. Its been a while since I had an offer and my preferences changed, I would like to explore LevFin
Glad it was helpful. I was on the industry/coverage track (not sure of the official name), so was only given the coverage teams to rank (I think there were 19 of them in total). The only product-ish group available to rank & potentially network with the UK M&A group. But yeah, we were not exposed to any product teams like LevFin, ECM etc in the selection process.
It's worth reaching out to HR to see if you can network with LevFin without having to switch track. But the team allocation process seems quite rigid so they might say the only way you can network with LevFin is to change track, which would be a very big decision.
I'm not sure how much you like LevFin but if you like it so much you would be willing to change from the industry track to the product track I would still advise reaching out to some JP LevFin people to get a good idea of the team, their work, how many intern spots they have & their conversion rate. Also, if you switch track and don't get placed in LevFin you have a 95% chance of ending up in ECM/DCM because they are only one or two intern spots in the M&A product team, which is another thing to think about.
Thanks for sharing your thoughts! I also received an offer as a summer analyst at JPM in London, and I've been assigned to the product groups. If you're still looking to explore LevFin, I'd be open to switching to coverage if that could help with changing the group assignments. I believe HR should allow bilateral swaps as long as the total group numbers remain balanced. Let me know if this is something you'd like to pursue!
Best groups for exit/prestige are: M&A/DI/HC - but very long hours
Mind me asking when you had your AC for IB and when you got the offer?
PM'ed you
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