Sorry if this is the wrong forum for this as I’m a first time poster, but I was wondering what people’s opinions are of JPMorgan’s MM FSG within the Commercial Bank as far as comp, career progression/exit opps for an associate. Is exiting to PE or a BB IB group internally/externally realistic? Thank you for your help.
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not to hijack but also appreciate any thoughts on IB FSG (large-cap coverage) - culture, exits, and role in execution mostly
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I think it's a great opportunity for the experience, but I think they heavily underpay relative to the investment bank.
Perhaps this has changed, but assoc 1 comp a couple years ago was $100k + $40k bonus, and that bonus was suppposedly on the high end. Keep in mind this was all through a JPM Recruiter, so i hope he was mistaken.
Any details on culture / hours etc. relative to the investment bank?
Far better culture, far better hours.
I actually spoke to someone in that group and made it seem like 50 hours was typical, which could flex upward with live activity.
Can confirm the above is in-line with what I have heard for As1 pay. Would also be curious on culture / exits / and hours.
My opinion is it’s good
BB pay. MM work sounds like
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Had a friend that interviewed with them a while back and was told the hours would be comparable to IB. Recruiter told him associate 1 base would be 125-130k with bonuses in the 40-50k range.
Group is just the middle market sponsors coverage group. They do direct lending for LBO financings and typical sponsors IB work like building buyer lists. Buddy works here and says it’s a very strong group with good exits to private credit and MMPE. Associate pay starts at $140k with 40-50% bonus. Hours match traditional sponsors groups of 60-80 on average (based on how much friend works). Would suggest checking the group out
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LMM PE/ MM PE clients. Which means LMM/MM PE exits. Can’t really say much outside of that, not s very technical group which is typical for FSG groups.
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