Saw a similar post about CS. Wanted to hear about updates regarding JPM in 2020 as most of the info about groups is pretty outdated and they seem to have been doing really well over the last couple of years. Are they on the same level as GS/MS or not yet?
-Top/Strong Groups? -Exits? -Culture? -General Prestige when compared to other BBs?
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people at JPM will tell you its the same level as GS/MS, people at MS/GS will tell you its not.. just like people at MS will say its at the same level as GS but GS will say otherwise.. meanwhile everyone on WSO will say that GS/MS/JPM are all as PrEsTiGIouS as RBC (they're not wrong)
Curious as well- Can anyone confirm that on average JPM does less M&A deals compared to GS/MS and as an analyst one will simply do more DCM/Balance-sheet driven deals?
Look at the League tables if you want to know about that. Over the past couple years GS and JPM have battled for the #1 spot in M&A- JPM is consistently #1 in Leveraged Finance and DCM. For ECM they are between 1-3 position between GS and MS.
These are simply the facts. You can debate about what the "experience" is like all you want- however nobody truly knows this unless they have worked in each different office environment.
Lastly, the reason there is still some debate on this matter is because for a long time JPM was known as a "quieter" player that relied much more so on its BS, while this is still a strong asset of that firm, the 2008 crisis is what propelled the bank into notoriety status- Jamie Dimon became the biggest CEO on Wall St after Blankfein left, and the rest is history. There will always be some people who will debate about its merit as the #1 bank on wall st (it has the most IB revenue in the United States of America) but its most likely due to much older viewpoints. Also- im not saying it is the "#1 bank, but just from a factual standpoint of the revenue generated one could conceivably make this point"
Either way, I dont have a stake in this just simply pointing out objective facts- make what you will from that. Keep in mind that for some people cache goes a long way, and its quite possible that GS and MS resonate better or "sound better" to some people- and its quite possible that there is a non-revenue related reason for that.
Seems to me that JPM is top of the hill these days and hard to make a case between the top 3 or 4 as one being better than the other. Certainly strong for sure!
BUMP
Top 3 BB for sure, but somehow not discussed as much as GS/MS because of "prestige" factor. Their new recruiting strategy sounds like the most fair method, but may slightly hurt chances in competing for top talent. Doesn't matter to them what undergrads think as they dominate league tables.
care to expand on their new recruiting strategy?? are u talking about the no networking thing
Yea basically the no networking thing, no on-campus recruiting. It creates more opportunity, but less engagement with students. You have some people not even pursue JPM because they feel like they have no chance without the networking aspect.
Google “deallogic investment banking scorecard” and look at the actual fees. JPM is the best and clearly has the fees to prove it. At the end of the day, that is all that matters, $.
I don’t understand how anyone could argue that JPM isn’t the best, they’ve literally dominated to league tables for the past few years. Best overall bank, very well rounded and is just about 1 or 2 on every single product/sector however you cut the numbers.
So you're saying Wells>Evercore because Wells generates more fees, according to Dealogic? Come on man, deals are not created equal. M&As are perceived as more prestigious.
I take your point, and agree that M&A is more “prestigious” than earning revenue via ECM/DCM, but JPM is right up there in M&A and is by far the most well rounded investment bank. Proof is in the pudding.
My comments are strictly in the context of “who is the best”. Obviously Evercore/Lazard are more “prestigious” than say Wells Fargo. But that’s not the point I was trying to make.
It is quite interesting how successful JP is in the league tables yet nobody speaks of them on the same level as GS and MS
Agreed, makes no sense. They are far and away the best. YTD they have 9.7% market share of all IB fees, next closest is GS with 8.2%. Literally 150 bps ahead. And it has been this way for a while...
divide revenue by analyst headcount though
It's just an older viewpoint as I mentioned in my comment above. It makes sense to be honest: in the past GS and MS ran the "prestigious" deals and now JPM is leading the pack in that and it takes a while for everyone's frame of reference to readjust to that.
This really doesn't even matter- im sure people at MS and GS get just as good of an experience as those at JPM anyway.
There is a lot of "top", "strong" and "prestige" discussion here, quite often. Fair enough.
Any of these names are fantastic firms with superlative opportunities.
I honestly recommend you go the other direction. Go by feel. Where do you fit in. Where do the people feel like a match. Where does it simply feel natural, motivating, exciting.
Everything is "all talk" until you're stuck with people for long days and nights, weeks, months, years into it. You will do your best and have your best options for exit and career somewhere you feel excited and connected, comfortable, engaged. Any of these names looks great on a resume. You will sell yourself best when you are coming from strength - happy, healthy, you've learned, you feel confident.
Go with your gut-
I think this is very good advice, however, most people do not have the luxury of picking between internships or opportunities like that. Excluding those at semi/top targets- most people are lucky to get just one internship- getting two is not realistic for many- getting more than two is unheard for some schools that have no relationships to banks.
Albeit, for those who do have the luxury to have their pick- go for the "feel"- its the same as when they chose their "reach" colleges anyway- they are used to the idea of choice.
Well, in such case, maybe wherever you land is the right thing - fate can be a good determinant, too. Because where you have the fit, the hiring managers feel it as well.
I just feel badly when I see people chomping at the bit over the names and rankings - I once worked for the smallest of the "top" banks in the league table for my area, and I couldn't have been happier. The guys were fantastic, we are all still buddies, I learned a ton and so enjoyed it. We were def the underdogs yet so strong, and it was due to the quality of the professionals.
I see so many people here on other threads just burned out, to a crisp - I'd rather people feel some measure of happy/fulfilled/have a future, not just $ and rankings.
Won’t get into a prestige argument but I can highlight Healthcare and Levfin as some top groups there. But really at JPM most groups are pretty damn good and compete for all types of deals (C&R, TMT, M&A all do very well)
And FIG. Really solid team.
What are their top groups?
bump
https://www.euromoney.com/article/b1g5v0nsl8vhq9/awards-for-excellence-…
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