J.P. Morgan or Jefferies for SA??

I personally would take JPM. It seems like a solid group and will give you decent MM PE exit opps. Also, you can always network your way during the summer to get in better groups at JPM after SA program (just make sure you get the return offer in the Mid-Cap group).

I don't know much about the JPM Mid-cap group, but I interned at JPM Securities, interviewed at JPM IB and have friends that work there. The culture I saw was really restrictive and too corporate for my liking. He said it's like being just another cog in a giant machine. They also have a lot more compliance to deal with and red tape to go through as a bank holding company and due to their size. That said, the name carries more weight.

Having gone through the Jefferies SA program, I can shed some light on it. The culture was a perfect fit for me and is much less conservative, but you will work just as much (if not more) than BB banks due to smaller deal teams and strong deal flow. When I was there the ratio of junior banker to senior banker was lower than most places, meaning you'll be on more deals and have more responsibility, and all the hours that comes with. So it has pros and cons. But they have significantly boosted up staffing of FT and SA this year to adjust. The generalist program is great; you get to list you top 4 preferences and primarily work with those groups. The exposure to the various industries and bankers is something I loved most about it. One day you'll be analyzing pharmaceutical companies, the next you'll be on a leveraged finance deal for a maritime company. Also, all the SAs sit on the same floor, so its you get to know them all really well and it's considerably more fun. Makes long nights and weekend work tolerable, if not almost enjoyable.

Both are great options, so take what felt best for you.

JPM Mid-Cap- better firm, strong deal flow, internal mobility, strong training program with the ability to network with all other JPM analyst (many of which will be at PE firms in 2 years).