JPM GF&BM or LBG Corporate banking & Markets

Based on the most helpful WSO content, here's what you need to consider:

1. JPM - Global Finance & Business Management (GF&BM):

   • Pros:
     • Double the salary compared to LBG.
     • Offers return offers, providing a safer and more secure path post-internship.
     • The JPM brand carries significant weight on your resume, which can open doors across the industry.
   • Cons:
     • The rotations are in Middle/Back Office, which may not align directly with your long-term goal of Corporate Banking.
     • Transitioning from Middle/Back Office to Corporate Banking could be challenging and would require strong networking and effort.

2. Lloyds Banking Group (LBG) - Corporate Banking and Markets:

   • Pros:
     • Directly aligned with your long-term goal of Corporate Banking.
     • Provides relevant experience in Corporate Banking and Markets, which is valuable for building your career in this field.
     • While it doesn’t guarantee a return offer, the fast track to AC (Analyst Conversion) is still a potential pathway.
   • Cons:
     • Lower salary compared to JPM.
     • LBG’s brand is not as globally recognized as JPM, which might limit future opportunities outside the UK.

Recommendation:

If your primary focus is gaining relevant experience in Corporate Banking, LBG is the better choice as it aligns directly with your career goals. However, if you value job security, brand prestige, and financial compensation, JPM GF&BM is the safer option.

Ultimately, it depends on your risk tolerance and how confident you are in leveraging the LBG experience to secure a Corporate Banking role in the future. If you’re willing to take a calculated risk for the sake of alignment with your goals, LBG might be worth it. If not, JPM offers a strong foundation and brand that can still help you pivot into Corporate Banking later with effort and networking.

Sources: Why corporate banking instead of investment banking?, JP Morgan Global Finance & Business Management Intern vs Goldman Ops, Corporate and Investment Bank Winning Women 2018 at JP Morgan, JPMorgan Middle Market Banking (MMBSI) details?, What offers would you take over a BB S&T?