I received an offer from JPM for MMBSI. Wondering how likely it is to lateral to IB product or coverage group for FT. I heard JPM is quite lenient on internal mobility compared to other banks like MS & GS.
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They are lenient. But what that means is that after you spend ~2 years in the commercial bank, you may have the opportunity to switch into the IB as a first year analyst. Keep in mind it would require a very careful balance of networking with people in the IB, while also maintaining great relationships with your managers so that they’ll push for you when (if) the time comes.
I heard there are Lev Fin / Financial Sponsors groups within the commercial bank, is that true?
FSG does exist and probably has the best placements from commercial -> IB. The other groups within what is called “credit markets” at JP are syndications, and ABL (there are some other small ones but the might not even have analysts). The other group that has potential is the international group. Probably 15-20% of the analyst class for MMBSI will end up in a credit markets group at first, and later on you would have the chance to rotate into one if you are in a major market.
Edit: I work in one of the above groups and you can PM if you have additional questions but I don’t really feel like putting any more info on here than that.
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