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?
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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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