Hey all, I am lucky enough to have offers from both on the table. JPM is (most likely) with one of their “lesser” coverage groups and for CS I have a pretty good indication I’d get sponsors. I’m leaning slightly towards CS because I really want to do PE and like the group, but it’s really tough. Don’t want to reveal the exact JPM group because I don’t want to give away too much info. Would love any advice. Thanks in advance.
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CS Sponsors is a top group. You should still get a great experience even though LBO activity has slowed. There could be a rebound by the time you hit the desk. Is this for SA or FT?
is this for FT? or SA
CS sponsors in a heartbeat. The way that group is structured is unique to CS in that they do the execution. Very good group and would be hard to get experience like that at most other institutions. CS is known for being very aggressive in trying to get the best pricing for their clients in the lev fin world.
It's basically sponsors or bust at CS, at least when compared to JPM. Also, CS isn't the only sponsors group that does the execution-- I know for a fact Barclays, BofA, and MS do too. Not sure how OP has a "pretty good indication" that they'll get sponsors, it's the #1 group on almost everyone incoming SA's list.
I wouldn't risk that and would go for JPM, especially for the PE exits. Sure you might have a good shot at MF PE exits from CS Sponsors, but the same candidate will make it there from JPM Sponsors (but also JPM M&A, HC, CRG...and so on).
CS Sponsors is starting to get slightly overhyped (too much legacy association) these days, especially since they've dropped their place as the #1 FSG on the street.
What metrics are you looking at for top FSG banks? My understanding was CS has been top with BAML/BARC
What metrics are you looking at for top FSG banks? My understanding was CS has been top with BAML/BARC
I think this and the comments below are fair. If you don’t know for a fact you’re getting sponsors, I’d go with JPM. That said, if you know your CS placement would be sponsors, I’ve seen that group work on some very interesting edge-of-the-market type deals and for someone set on PE it’d be a unique opportunity. I’d call analysts at both banks and ask them about what type of deals they’ve worked on. Try to get a feel for the culture beyond the positive marketing speak everyone uses with recruits. At the end of the day, future career success will be driven by being successful in your first role and getting to do meaningful work on interesting transactions.
JPM unless u have a sure shot into sponsors
I have heard that getting into CS Sponsors is basically a shot in the dark and JPM would surely be the better brand name in general.
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CS sponsors is a group a lot of interns are going to gun for. I’d go with jp. Most of their groups are top 3 in their respective industry or coverage.
CS sponsors has a really good rep among their clients.
From what I know this is false..... the good days are behind them.
As other people said, CS sponsors is a shot in the dark. What gives you indication that you will get it? Unless it's a very good chance, I would go with JPM since the majority of the groups there are good and not as top-heavy.
If OP is a frat/srat-star at UVA, then I can see the FSG thing being pretty likely.
haha seems more likely, but know a few from UVA that didn't get FSG. I would bet at least 80% of the incoming intern class puts FSG as their #1 or #2 choice.
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I will pay you to take JPM. Let me know if you are interested
He better be paying you lol. What noob would take CS with the chance to be in sponsors over JPM. CS sponsors is way overhyped nowadays. Heard from a VP there that people are jumping ship.
Can confirm this, if you want better prospects and a return offer go JPM, if you really want to go CS sponsors transfer for FT. Also heard from a source that CS has already filled its sponsors team off the book, so unlikely you'll get that opp.
I'm a second year analyst at CS. I don't know much about JPM, but I would definitely take JPM over CS. One of my roommates works at JPM and their candidates do well, but they hate it there. I'll give a rundown on CS though:
- Sponsors is a great group, but M&A is better than Sponsors for MF exits. This has been true for at least the last few years. For the class of '18, M&A, TMT, and arguably GIG beat Sponsors in terms of placement. That was a particularly weak class for some reason, but highlights that it doesn't have consistent placement. Sponsors may have just taken a lot of weak candidates recently, but that highlights how it is more up to the candidate and less about the group.
- At CS, my personal belief and anecdotal evidence suggests that the best candidates get offers, and group has little to do with it (unlike, say, PJT RSSG or Goldman TMT where you can be a less than stellar candidate and probably get interviews / offers at top firms). Some anecdotal evidence: TMT this past year (class of '19) had arguably the best placement, followed by M&A, then Sponsors, then GIG / Healthcare. GIG / Healthcare had 1-2 analysts in each going to MFs (I heard GIG had an Apollo exit or two, not sure if true though).
- As a general rule, yearly M&A is the most consistent / best, followed by Sponsors, then TMT, then GIG, then Healthcare. I don't know much about Energy but I heard they do well. RE / FIG I know nothing, I think RE does OK and FIG not well, but someone else should fact check me. C&R does not do that well.
- Lastly for CS, as you can see above, the rankings tend to change year to year with the top 4 or 5 groups moving around a bit. The candidates I know going to MFs / UMMs from these groups were all individually strong, and I know people from non-Sponsors / M&A groups who were able to get MF offers because they were stellar candidates (great schools, personable, and knew finance well without being uninteresting) and not because of their group. Interviews are not a problem for people to get if you have a decent GPA / Undergrad / impress the headhunters / are in a coverage group. You may not get KKR and Blackstone and Apollo and Carlyle, but it would be pretty shocking if you were in a coverage group at CS and couldn't get an interview for at least one of these firms -- these places interview a lot of candidates.
Sorry for bumping an old thread but can you speak to the cultures of the groups above like Tech/M&A? Considering applying to lateral but want to make sure there’s a strong culture and not completely sweaty
Exits come down to the candidate themselves a lot more than people realize. If you're at any mid/top BB you will get similar looks and just so happens to be that top talent concentrates in groups like GS TMT/MS M&A etc. but I would say it is the people in those groups rather than the group themselves.
In regards to CS, M&A, Sponsors, TMT, REGAL, GIG Will put you in a good position to get quality looks. I would stay away from other groups.
Agreed. REGAL recruits separately, FYI. If you're an absolute stud at CS v. some idiot at MS M&A you'll get a better offer, but by self-selection and reputation the best candidates tend to be at MS M&A. PE firms don't really care what bank or firm you're at once you're at a certain threshold -- there are certain indicators (like historically TPG growth liked MS Sponsors, and so asos at TPG growth could call and find out who was good at MS Sponsors etc.) and headhunters play a role, but beyond that it really is the candidate (which includes GPA / undergrad, how "chill" or "likable" you are depending on the culture of each firm, ability to talk about deals, LBO test, etc.)
Second this. In terms of pre-MBA buyside recruiting, your interviews with headhunters will be far, far more important than your employer. I would personally pick JPM: better brand name and all groups are strong. Otherwise you should have solid reasons to believe that you will be a strong cultural fit into a group at CS.
what sort of deals are Sponsor bankers working on with no LBOs happening at the moment?
Anyone kind enough to add their views on Citi Lev Fin as well, given all the CS sponsors talk? Sry for hijacking
CS Sponsors vs JPM Sponsors anyone?
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