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Based on the most helpful WSO content, here's what you need to consider:
JPMorgan's Reputation and Concerns: JPMorgan is undoubtedly a top-tier bank with a strong brand name. However, there have been discussions about the increasing size of their analyst classes, which could lead to more competition for return offers. Additionally, JPM's ban on on-cycle recruiting might limit flexibility for those looking to pivot into private equity or other roles post-internship.
Citi's Strengths: Citi has been highlighted positively for its culture, especially in recent years. For example, during the 2020 virtual SA cycle, Citi's approach to auto-offers and intern treatment was praised, which reflects well on their culture. Citi also offers rotational programs full-time, which could provide broader exposure to different desks and opportunities.
International Student Consideration: If you're an international student, Citi is known to sponsor visas for SAs, which could be a critical factor in your decision-making process.
Exit Opportunities: While JPMorgan might have a slight edge in terms of brand recognition and exit opportunities, Citi is still a strong contender, especially if you value culture and a potentially less competitive environment for return offers.
Taking Citi wouldn't be a "bad" choice here, especially if you prioritize culture, rotational opportunities, and sponsorship. However, if the JPM brand and its potential long-term benefits are more appealing to you, it might still be worth considering despite the concerns.
Sources: JPM SA 2020 Goes Virtual, Let the Games Begin | The Daily Peel | 4/17/2023, Citi vs Goldman S&T for SA, Barclays vs. Citi SA?, https://www.wallstreetoasis.com/forum/investment-banking/citibaml-or-gsms-ny-for-ibd-sa-2021?customgpt=1
take jpm good name brand and more optionality in pivoting
what was ur citi process like? specifically how was r1?
Del
Potential hot take here but I’d join Citi. I’m expecting MS lol.
I don’t think it’s a hot take to be honest, the momentum and higher return rates for a SA is at least explorable to consider. A RO at Citi could always join a GS/MS/JPM for FT anyways while racking up that OT.
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