JPM or RBC ?
Hi all. Sophomore at a target with offers from both RBC IB (group to be determined through placement) and JPM Capital Markets IB, hoping to exit to classic buyout PE.
I know that JPM has a better reputation by name but my group placement is between ECM, DCM and LevFin. For RBC, I'd be targeting M&A or PUI. I value the best analyst experience and would prefer a more traditional seat. Which offer do you think would provide the best trajectory?
Bump but for MS GCM
MS GCM has absolutely no exits, highly would advise taking RBC. MS GCM simply does no modelling and generally, your best-case scenario exits-wise is a capital markets seat at a PE firm, no buyout exits except LMM or smaller MM players.
JPM
Do you think the exits would be stronger from capital markets vs RBC M&A? Also not sure about internal mobility out of capital markets for full time.
As an intern, internal mobility would be much easier than if it was a full time role. Most likely based off performance in CM would determine if you could lateral internally to typical m&a.
Say that again but slowly.. Capital markets to buyout PE
JPM LevFin, could be done. ECM, tricky – would have to volunteer to take a modelling test or something beyond like others in ECM have mentioned, to win an offer
Take RBC in this case specifically - even if you get a coverage group like industrials there, you’ll get a better exit than cap markets would provide
Is this the US? I’m in JPM capital markets and DCM/ECM are 2 of the groups available during group placement in addition to M&A and coverage.
That said, given your end goal, I’d go to RBC. No modeling is done in capital markets.
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