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 Wanted to hear about updates regarding JPM in 2020 as most of the info about groups is pretty outdated and they seem to have been doing really well over the last couple of years.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?
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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)
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.
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.
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
1) literally does not matter at all
2) guarantee that JPM investment bank generates more net income for their firm (on a % basis) than MS or GS
They are literally so far ahead it’s not even close. YTD they have generated something like $800MM more fees than GS. Not even close
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.
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.