If you were given the option to go into either, which one would you prefer and why? the second probably has a better lifestyle, but what about exit opps?
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depends what you like. Sponsors is IB while Derivatives is a Cap Mkts/S&T role. Sponsors will give you a broader range of exits imo but im guessing derivatives would allow you to look at hedge fund roles, not PE though.
Deriv sales to corporates does not exit into hedge funds. Selling ir derivs to hedge funds, is really quite different.
I think this boils down to a decision of s&t vs ibanking.
Dude...go to JPM Financial Sponsors. JPM is being pretty stupid by providing obscene amounts of debt for LBOs, BUT the experience and exit opps from JPM Financial Sponsors is UNREAL. The analyst/associate experience at JPM FinSponsors is VERY VERY valuable on wall street because you will be able to structure any debt deal you will ever come across.
I wish my ibank provided as much debt as JPM, unfortunately they are European and uber-conservative like UBS. If you want amazing exit opps in the future in PE and don't mind the grind of IB, go to FinSponsors at JPM.
...ALSO: My friends at UBS tell me that JPM Financial Sponsors analysts and associates are in huge demand as other banks want their debt structuring skills.
JPM is not famous for derivatives (Unlike BNP Paribas or SocGen). SocGen makes a $1B a year in EBIT just from derivatives from their NYC office. The French are insanely good at derivatives, it's their niche. Without derivatives French banks suck big time in areas like M&A. Get JPM FinSponsors experience, believe me, it's the best on the street.
Are you kidding me?
There are so many things wrong with this statement. Firstly JPM was a huge innovator in derivatives. Most of the credit derivative structures were their ideas. True in rates too. They are a powerhouse. Maybe not as much as a few years ago, but give them their due.
The french banks make aggressive prices, I'll give you that. They also misprice and get picked off all the time. I would not classify them as "insanely good" in the least. Maybe "insane" but not insanely good. There have been some blowups at french exotics desks already this year.
JPM not good in deriv's? as Jimbo mentioned they are one of the top firms in rates & credit derivs and are a huge innovator in those areas. not sure where you are getting your information from. again this comes down to s&t vs. ibanking and where your interest lies.
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