JP Morgan IB (Healthcare) vs BAML (real estate) Summer Intern in NYC
Opinions on which position I should take --> which is more prestigious and which would open more opportunities?
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Both are in IB
JPM HC is the more prestigious and would open more doors for you. I would only think about BAML if you know you want to go into RE.
JPM hasn’t done group placement, so what makes you think you’ll be landing HC? I assume it’s the same thing for BAML — what makes you think you’ll be landing RE?
Yeah exactly lol. They both give generalist offers. I don't know very much about JPM's HC but I know that BAML's RE is very top notch. Questionable culture tho
JPM’s HC team is top of the street. Great opps and a great culture. OP my guess would be that it would be a difference in your long-term career goals. If you want to go into REPE or anything else RE-related then go to BAML RE, otherwise go to JPM HC (especially if looking to get into HC PE or HF, or anything in the medical startup world).
Why do they have a questionable culture?
BAML has the best RE group on the street. But only take that if you have a serious interest in RE. Amazing but narrow exit opps and extreeeemeeelyyyy sweaty!
what does sweaty mean exactly
They work long fucking hours in exchange for deal flow and great exit opps.
You sweat a lot. They keep the floor at 90 degrees to promote efficient work.
Second this. BAML’s REGL group is legendary but take it only if you’re into real estate
If you’re not set for real estate you’ll have to be brain dead to pick Baml regl over jp hc
Given the current pandemic, I'm sure it'll be helpful to learn about healthcare to be prepared for the next one, so I recommend healthcare.
Then use that knowledge to pick up medicine students/doctors, and you're set for COVID21
As others have said, BAML REGL is the best group for that coverage on the street. But two things:
1) It can really pigeonhole you
2) the group is extremely sweaty
second this
What does sweaty mean exactly?
JPM Healthcare is top notch, dont know much about BAML REGL but seems like they are top of their game too. Maybe think about what sector you want to do.
Would say they are quite comparable. BAML REGL had some crazy exits recently (Bain, Baupost, Blackstone, Oaktree, TPG, Starwood, Citadel). JPM HC also consistently sends kids to MF each year.
Any updates on both groups? Have some lateral interviews coming up
Prestige & ego-fueled motivation aside I feel like it's paramount you go with the option that is most interesting to you. I'm a simpleton prospect :) but seriously (the industry aside), people are more productive/impactful when they are doing something they actually care about. The question should be what interests you, not which has more prestige. If you, for example, were to head into real estate and found it wildly boring and unfulfilling odds are your work product is going to be shoddy and you won't be the greatest contributor. Same goes for healthcare. Regardless of the group, if you perform well then doors will open up -- I think that's characteristic of any profession, not just banking.
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