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This is like saying Yale vs. Princeton. It does not matter.
There is one firm that rises above all the others though, and that's BX.
Spot-on.
These questions are like Boxers or Briefs. It all comes down to personal preference. In terms of prestige, BX is king.
which offices?
Both in the NY offices.
One thing to consider is that Lazard, like many other elite boutiques, each group does their own M&A - opportunity to get great modeling experience. JPM has a specific M&A group. Either way, cant go wrong
I'd go with JPM. But it depends entirely on what group you want to be in and what you want to exit to.
JPM
How about the LA offices? Anybody care to compare the 2?
How about the LA offices? Anybody care to compare the 2?
Isn't Lazard like fuck yourself in the ass culture? JPM is a more recognized name outside of just banking/PE. Lazard you will not be doing any capital raising crap, just advisory. Exit opps roughly equal I would think.
If you go with JPM, you might get stuck in Healthcare or Industrials (boring) and the general public will hate you.
If you go with Lazard, you will be in M&A/Restructuring and chicks won't hate you because regular people don't know what Lazard is. But people in the finance world will respect you.
Just joking.. but not really.
The difference is marginal and more dependent on the people in your team and the MDs running them (regarding culture, hours, learning experience, exit ops).
lol healthcare is awesome what are you talking about and I doubt most chicks heard of JP morgan either..
Lazard
JPM vs Lazard (Originally Posted: 09/13/2011)
Hi, I was wondering what your opinions are on these two options: Lazard fulltime London M&a and JPM M&a Autumn internship (industrials team). Thanks
Lazard Fulltime of course !
Of course you take the full time opportunity. Why would you want an internship at this point when you can get a real job?
Lazard M&A is one of the best places possible to start out. Plus, it's a full time offer, that's the purpose of internships.....to help you get a FT offer. If you don't want to go to London, don't worry, LAZ will work you to death and you'll likely never see the light of day, let alone Pickadilly Circus.
I would go with Lazard since I think we are seeing the shift from the mega Investment banks to the smaller, boutique firms that don't sell every product under the sun, generating huge conflicts of interest.
Good Luck. You will love London
Lazard, definitely more prestigious
You are obviously missing a branch in your brain. Don't take any. Less competition for those who have common sense.
Is JPM really that much better than Lazard?
Lazard or JPM Industry Coverage Group (Originally Posted: 12/24/2012)
Assuming you eventually make into strong groups at each place, which would you all pick to work at and why?
"Strong groups at each place" is vague, and in this case I think it matters. I think the ranking would go JPM M&A / SLF / Sponsors, Lazard, JPM Coverage.
Is this assuming NYC exclusively? Personally, I would choose Lazard and that's simply because I prefer the boutique, highly-specialized team approach.
come back to us when do get an offer from strong group at both Lazard and JPM.
I get what you're saying, but wouldn't your sell day not occur until after you'd accepted your offer?
Help me decide a summer offer!! LAZ M&A or JPM M&A (Originally Posted: 01/14/2009)
i recently got an offer from JPM M&A and LAZ M&A. what are some pros and cons to each and which should I take?
Locations?
NYC both
Lazard in NYC is legit. They'll work you hard, but in this current economic climate it is the best place to be
How do you know you are in M&A at JPM this summer? The SAs I know going there this summer haven't even ranked the groups yet.
a JPM M&A placement is not official but highly likely. they decide in spring but a lot of the process depends on who interviewed you.
If you have any doubt about M&A and think you would want to explore other areas of finance I would recommend JPMorgan ... I am a senior so take what I say with grain of salt
Lazard has a much higher chance of giving u a FT offer than JPMorgan.
Lazard is better...they're not having any problems, and if they give you an offer, you know you're not going to get fired because trading just lost another billion dollars.
they're also thriving/still doing a lot of work. my understanding for laz though was that they didnt place you into groups until the beginnign of the summer
Are you kidding me? Lazard has no subprime exposure and has a booming restructuring practice. In this market, Lazard is the easy choice.
LAZ all the way. and with no hesitation
I think you guys are being far too short terminist. Yes in this market Lazard is the best place to be working. If he was starting now, I would recommend taking Lazard. However he won't actually start work until Sept. 2010 and by then everyone expects the market to have picked up and they'll be much more M&A to share around. JPM Investment Banking had a fantastic 2008, top 2/3 in pretty much every product/region. You'd expect them to be able to leverage their relatively good position when the market picks up.
The results today were bad but better than expected. Dimon is consistently realistic in setting the market's expectations unlike Lewis, Pandit and alike. I highly doubt there will be more huge write-downs or trading losses.
I wouldn't say you'll have more chance of getting a FT time offer at Lazard. JPM SA count will probably be way down and if he managed to get the SA offer, he probably has a great shot at an FT offer.
Maybe my views are skewed because I work in London, but you would be mad to turn down a JPM offer for Lazard here. Probably due the fact that JPM is much more prestigious over here mind you...
I would say if you do take Lazard, take it because you want to work at an M&A boutique rather than a BB. Not because you may not get a job at JPM, traders may lose billions etc. If you want to work at BB, JPM is the place to be at the moment. My 2 cents.
Funny, because I also recall people in late 2007 expecting the market to not worsen to this degree, and then Bear Stearns collapsed in March; and then, people expected things to pick up during the summer of 2008. What was the saying? "We're in the 8th inning of the ball game," and then well Lehman went down, Merrill got bought, and Morgan Stanley flirted with death.
It's safe to say noone knows what the hell they're talking about.
Both great firms, depends on your personal preferences (cultures, BB v. Boutique). I sent you a PM.
Short term = Lazard Long term = JPMorgan
Like someone said above, Dimon is an excellent leader. I also expect JPMorgan to see a quicker recovery when the market starts going back in the right direction.
I agree, you should be more focused on BB vs Boutique difference. There is a world of a difference between Lazard and JPM cultures. You can pick Lazard because all of the (mostly in college) people on this thread are saying to do so, but its really a decision you should make based on what each bank has to offer you and what type of environment is most conducive to your personal preferences. Because if you go to a place you're completely miserable at, you may not get a FT offer, and even if you do, why would you want to take it?
Luckily its an internship so you're not locked into it. This is the exact benefit of an internship.
This is a great point. Keep in mind that the internship will give you an opportunity to get to know the company, and if you don't like it you can always interview elsewhere when full-time rolls around.
As far as the timing aspect goes, I would place more emphasis on firm culture and the BB v. Boutique preference (as stated here previously). No one on here (especially the college students without experience in the field) can predict where the markets will be in the next couple of years--you should pick the place where you will a)fit in and b)enjoy yourself. Picking a company based on (perceived) prestige is the most evident sign of sophomoric naivete.
In this market, finding an offer without having been a summer associate at that specific bank will be difficult. I don't really know how the exit opps compare for both firms, but they will hopefully be more plentiful 2 and a half years from now. Assuming they're equal it would mostly be a question of fit, ie. BB vs. boutique.
Can you list your stats (school, GPA, EC's etc) so others can get a feel for successful applicants to Lazard
A family member of mine works at LAZ. I visited the office to meet with him and his colleagues (trying to network). When I arrivied, the people showed no emotion. It looked as though they really divide their personal and professional life.
When they talk to their colleages, they talk right to the point, hand over what they have to and don't say anything else. When they met me, they introduced themselves and got back to work (literally 30 second intro).
Now I took it as - wow, they must really not like me trying to get in the firm through networking - wow, they are straight up workaholics; I'd learn a shit ton if I got placed here.
I asked that family member why the atmostphere at LAZ was like that. He responded something along the lines of - "What are you talking about? Why is the atmosphere like what?" Apparently, he fits right in the culture at LAZ and finds those emotionless/no collegiate interactions to be the norm.
In hindsight, it really depends on your personality and fit with the firm's culture.
Wow, that's a big turn off :( Lazard was my dream place to work at, but work atmosphere is probably the most important aspect for me. Are there any elite/good boutiques with good & friendly atmosphere?
Congrats! I think both are great firms! I think you should go with the firm that you liked better (people, firm environment and etc.)
Both are good firms, and you can't go wrong with either one of them...which makes it even harder.
JPMorgan
I only met with one group at LAZ, so don't be "turned off" by my experience.
Other groups could be different.
Lazard
JPM only gets M&A due to its ability to lend of the balance sheet. ALthough they do a lot of deals, the skillset you would learn from Lazard would be better. Everyone knows JPM finishes high in league tables cause they provide financing.
i vote lazard...but in all honesty you will be fine for both exit-ops and b-school either way. with jpm you might have to explore those options a little earlier than desired :)
JPM M&A vs. LAZ Real Estate IB (Originally Posted: 01/29/2010)
thoughts?
tough one, but JPM for me.. not too sure about lazards strengths
jpm
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