Does the M&A team handle the modeling for most coverage groups? Is the group modeling intensive or a good mix of process/modeling tasks (getting mixed answers from old posts)?
Any input on the team culture appreciated!
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Are you applying for a lateral spot?
Yup, are you in the process as well?
Same here, did you guys schedule your first rounds yet?
1. Most - HC, M&C, and FIG typically run their models in-house so you won’t get as much modeling experience from those groups, but you’ll still get the chance to run the model for those groups here and there.
2. It really is a mix. You’ll get STRONG modeling experience (the strongest out of pretty much every group at JPM because you’re in M&A), but there will still be plenty of non-modeling tasks. You typically won’t put together pitchbooks and align logos, but you’ll definitely do some of the work that coverage doesn’t want to do/just wants to pass off to M&A.
That being said, the group is getting crushed and you’ll have a great experience. It’s also the group that typically exits the best (almost everyone goes to MFPE that wants to) and it’s preferred by headhunters just by virtue of being an M&A group vs being in a coverage group (headhunters like to fill their spots with M&A bankers first and then the strongest coverage groups). It’s one of the top M&A groups on the street by $ and # of deals, so you’ll be in high demand.
As for the culture, you’ll meet some great people and some jerks. That’s the nature of the business. Not as bad as some places but not as good as others. Lots of competitive people, which is typical in banking + M&A.
Source: close friends who work in JPM M&A.
Appreciate the thorough response. I figured the group was getting crushed since they're hiring across the board. Do you have any idea on what the interview process is like? I know M&A (used to?) run their own separate recruiting which is technical intensive but was wondering if it's the same for laterals. No worries if you don't, thanks for the help anyway!
Yeah for interns they do some easy technicals, but for laterals it'll be expected that you can answer more in-depth technical questions. I don't personally know any laterals so I can't really give much input on the process besides that, but I do know that they're looking for people who can hit the ground running on day 1 because of how much work they currently have.
How does everyone wants to goes to MF PE when they are so few spots? It’s very strong group but they are a handful better groups mostly in GS, MS, EVR,PJT. ~100 top analysts plus off cycle would be competing the same role.
Just really curious about your data point or we have different definitions about MF maybe.
Although I agree that not everyone that wants to MF PE will get it from JPM M&A, I doubt there are ~100 analysts better than a top bucket JPM M&A analyst. I mean only GS TMT/FIG (maybe C&R/HC), MS M&A/M&C (Maybe one other strong coverage group) are better from the bulges thats ~50-60 total? Then EB's PJT/EVC would only be like ~10-15 for both. I guess ~100 isn't that far off now that I'm thinking about it but I think 70-80 is more on par. Now take all low bucket analysts out so thats what like low 20%. So 75 x .8 = 60 top/mid bucket analysts.
Now the top MF's BX/KKR/Carlyle/TPG/Apollo (Vista?/Warbug?) take what like 6 - 12 per year so 9 on avg for each firm 5x = 45 spots in total for MF PE? 60 competitive analysts fighting for 45 spots? In reality probably way more analysts from different firms but this was fun thinking about.
Some poor information in here. There is a very large healthcare M&A team (I know most of the guys in it), and also dedicated guys doing M&C that sit out of M&A. FIG is generally specialized everywhere with limited work from the M&A teams.
Limited pitching out of this team, though they are trying to make an active effort to have M&A get involved earlier on. Would say probably 10-20% pitch and 80% execution at this point.
Culture / hours are tough, it is a solid team but they get worked very hard / very concerned with league tables and frankly trying to beat Morgan Stanley. It is a large group and agree with above poster, the people are a mixed bag. Some are great, others are awful to work with, and it really varies across sector coverage for them (within M&A).
This is aligned with my experience as well. Don't know why it gets MS.
Source: sit in one of the coverage group mentioned above.
Does M&C not has their in hose modeling ?
Joining their ECM team later this year.. was interested in rotating into M&A / Lev Fin / Coverage to get some modeling experience. Not too interested in exit ops (would love to stay at JP) but think having some technical experience under my belt can help me if I ever do want to leave.
Joining their ECM team later this year.. was interested in rotating into M&A / Lev Fin / Coverage to get some modeling experience. Not too interested in exit ops (would love to stay at JP) but think having some technical experience under my belt can help me if I ever do want to leave.
Joining their ECM team later this year.. was interested in rotating into M&A / Lev Fin / Coverage to get some modeling experience. Not too interested in exit ops (would love to stay at JP) but think having some technical experience under my belt can help me if I ever do want to leave.
Any word on interviews?
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