JPM M&A vs Top EB (CVP/EVR/PJT)
Hope to get some insight on how the community thinks about this comparison. Personally have always thought top EBs over JPM is a no-brainer, but what about specifically a top group like M&A? Read before that almost the entire analyst class there exited to MF and UMM.
If you can get into a good coverage group, would always choose that over M&A whether that's at an EB or JPM.
Interesting insight. Care to elaborate? Always thought M&A was the best group at JPM for PE placement
Different person but a lot of the value from the banking experience is exposure to different types of deals. After you join PE, you'll have a ton of experience with LBOs and M&A, but working with other products within the framework of a coverage group has a lot of benefits.
Dont know who would pick EB over JPM top groups (M&A/HC/M&C) unless its wharton witg hardos and EB Rx (those mfs would pick HL Rx over GS TMT). Or if you want to be a career banker and you want CVP.
LMAO that's absolute facts.
The WITG wharton hardos (not just witg but SSG witg) do morgan Stanley/gs IB sophomore year as a placeholder than recruit for PJT RSSG before they even start their bulge internship. Maybe a wharton thing (actually not even overall wharton but niche SSG community within penn) but EBs carry more respect because you actually have to know your shit and cant bs your way through
this is the most virgin hardo comment i've seen on this site
Congrats on the PJT offer
witg wharton ssg kids have cringed when I said someone decided to not bother rerecruiting for junior summer because they're returning at their sophomore summer which was GS IB classics.
Maybe it's just penn but it def seems like:
Tier 1: Restructuring EB (PJT rssg / hl rx)
Tier 1.5: m&a EB (EVR m&a / cvp)** + buyside blackstone kkr
Tier 2: GS TMT/FIG
**all the PJT rx offer kids didn't even bother accelerating their Evr m&a this year and dropped out. m&a is the backup option once you get rejected from rx. The smartest wharton kids don't want blackstone. They want PJT HL.
That point when you're so hardo you choose RX EB over BX and KKR PE. Congrats, you've gone full circle.
please please please touch grass. I am convinced this is satire because no way an actual human being sits behind their computer and writes this
Congrats on HL RX
would ppl choose JPM M&A or EVR generalist?
It's a wash, but more target analysts prefer top EBs over JPM in general.
I agree heavily. Target school here and the smartest kids here pick EB (especially rx eb) over bulge. They'd use bulge IB sophomore internships as placeholders but still gun for EB
BB name recognition is so overblown - it's only useful to impress your grandma.
Anybody worth their salt/who is making important decisions is going to know what PJT/EVR/CVP are.
I would highly disagree, the BB logo will carry weight for 30 years and appeal to everyone across roles in finance, those that know and appreciate the prestige of an EB will be a fraction of people
You get a ton of value from the BB name brand. When choosing between JPM M&A and EVR/PJT/CVP, it's not just about the incremental on-cycle advantage and the slightly better deal exposure you get. What if you want to work in London/Hong Kong or raise a fund from the Chinese/Indians/Saudis? What if you want to do literally anything other than PE/HF in the long term? There's also something to be said about the massive network you get from a place like JPM. PJT has been killing it in the last decade, but JPM actually has alums from before 2010 who you might be able to connect with. Banking is banking, and I think people over estimate the incremental advantage both in terms of "experience" and recruiting.
Totally agree, esp for someone who considers to go to APAC after the analyst years, this needs to be considered and JPM's name is def better then EBs in that region.
Agree with this take. EB all the way
EB Prestige is so overblown - it's only useful to impress your finance club reunions
Anybody important ranging from your grandma to people making important decisions is going to know what GS/MS/JPM are.
People who don't give a shit about their grandmas are a huge red flag
JPM all day - EBs are sweaty af and no one cares about them
Why is Moelis and Lazard not listed as top EB >>>>>>>:-(
Yea curious too. How'd MOE / LAZ (both M&A) compare w top groups at JPM?
Purely off PE/HF/buyside exits
Because they're not lol.
Stop coping Citi analyst from Indiana
JPM sounds cooler, is more well-known. If you're good you'll get exits. If you're a hardo virgin i'd suggest the EB route, it'll help you protect that status for longer.
Good luck and grats on the offers.
Seems like everyone is just spouting shit about name brand, prestige, comparing how much of a hardo someone is, etc, without actually answering the question with anything beyond surface level knowledge. I'll try to offer some advice on a truly difficult decision that I also had to make in the past. Congrats btw on the offers!
For you, your exit opps and name brand are really a wash. Anyone that is important will know what PJT/CVP/EVR is. Yes, EVERYONE in finance will know, confirmed with multiple mentors and people who have exited banking. The headhunters that reach out to you will be the exact same at both of your choices. Granted, if you don't want to stay in finance and instead maybe want to pivot to tech or engineering then I would give an edge to JPM. What people don't understand is that name brand can only take you so far. It's about the network you build at each bank, your connections both senior and junior, that help you out long term, and that's up to you to cultivate.
With exit opps and name brand basically being the same, you should think about what type of experience you want in banking. As someone who has worked on both sides (BOFA and PJT/CVP) I would say the experiences are pretty different. BBs offer more training, introduce you to more people, and you will work on larger teams than at an EB. Being on a larger team is both a blessing and a curse, as often you are staffed on a shit ton of accounts where you handle one specific part of the model or PowerPoint, and while it's good because you can turn off your brain and become a template machine(which is what they want out of you), you also don't really get a sense of the whole deal process. This might not matter to you as you're leaving to PE in 2 years anyway, so who really cares as long as you're doing your job. At an EB, teams are literally like 5-6 people, and you're usually on fewer accounts but with a lot more responsibility. You'll get a chance to see the entire process and create key materials for actually important junctures in the process, but again, it's a lot more brainpower and having responsibility means you can't slack as often as you can at a BB. People overrate having "responsibility" a lot on this forum, which is why I think people are called hardoes for choosing an EB over a BB, as often after a year you just don't care about learning and would rather just coast.
Besides being on larger/ smaller teams, I would say another big difference between BBs and EBs is the culture. Being at a firm with 10,000 ppl vs 500 are completely different experiences. I found that at BBs it's a lot more corporate, easier to meet new people, and little to no exposure to higher-ups like MDs/ partners. You get more company sanctioned events, often have a much larger analyst class, and in general I would characterize the culture as a bit more "fratty" than EBs (by fratty I mean white male culture dominant, where most of the office talk is about sports, alcohol, tv shows, etc.) EBs have cultures that are a bit harder to characterize because I hear that each EB is a bit different which makes sense due to their small sizes and trickle down leadership. EBs are less corporate, with smaller class sizes and a more engrained culture(harder to fit in if you don't vibe initially due to small size), a lot of exposure to higher ups since you work way more closely with them, and of course, higher compensation. I've also found that most EB ppl are a bit sharper than their BB counterparts, which is kind of anecdotal, but my sentiments have been shared. It is actually possible to grab coffee with an MD, propose company engagement events or improvements to amenities, and even source potential clients if you have a good enough relationship with a partner, as you really do get a lot more responsibility and trust. But this is all on you to implement, so again, if you want to coast, this is all not relevant.
Overall, just compare what sounds best to you and definitely reach out to alumni/ contacts at each bank to hear their thoughts. Best if you can get an alumni as they're less likely to bs you and get you to sign.
Hope this helped a bit in your decision making process, and let me know if any of this needs further explanation or if you have a certain question. Something to note is that i did not work in the M&A group at BOFA so my experience will not directly parallel yours.
Oh and yes EBs do tend to have more people that think of their job as their life and their finance knowledge as something to flex
Kills me 90% of people answering here are interns
Says the prospect
That's Carl Icahn dude...
What is the prestige perception b/w JPM M&A vs. EVR/CVP/PJT?
Maybe a hot take but, JPM M&A being the best group at the bank takes like 10ish interns a year out of the 130-140 class. So I'd argue it's possibly more selective than most top EBs except for PJT RSSG.
Is this true lol?
Can confirm. This year m&a took 11 out of a class of 135- almost all are top of their class at top target.
Let's put aside exit opps for a second - from a purely probabilistic standpoint, in a decade, you're not going to be in a role where it matters either way. So go to the place that pays you more and makes your analyst stint at least semi-tolerable, and not necessarily in that order of import.
To be fair though, those two criterion contradict in this case
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