I have an offer from one and in the process with the other. This is for a summer analyst internship.
Culture & people: equal
Experience: Lazard, given its smaller teams and focusing on advisory and M&A. But then I hear that JPM coverage groups also do a lot of M&A and LBOs?
Work Visa (I'm an international student): JPM, since I would need to be relocated after a year if I don't get the Visa. Lazard has been doing pretty well in London, but I think I'd rather transfer to Asia.
long term goal: Can't decide (as in more banking or PE). Definitely thinking about MBA, though.
What do you guys think?
Do you know what group you will be placed in? It seemed like JPM will be the better brand name in case you do need to transfer back to Asia. That being said, Lazard (very hard to generalize) might give you better summer experience as EB tends to give a bit more responsibilities to the SA than BBs (equal levels of talent)
If you are worried about Visa I would definitely take JPM. If you don't get a Visa there is no way to say Lazard or JPM will let you do IB in a different country, but JPM is more likely to be able to offer you something in a different country, seeing that they have much larger operations.
JPM all the way dude. let me say just one thing: networking. i dont know how many sa Lazard takes in nyc but at JPM it will be something like 100+
JPM is also reputed for their training. Although the point about more responsibility at an EB is true too. Either way you will have a great career and this is a great problem to have.
Choose where you think you are more likely to be top ranked, get an offer and where you get on best with the people. I am also a big believer in the independent advisory model and chose an EB over JPM/GS/MS myself...
JPM. Know someone who was in this exact situation between these two firms and he chose JPM, for all the reasons mentioned. Brand name, reputation, deal flow; JPM wins on every front. Lazard is a great shop, but JPM is the clear better choice here.
Go with JPM. Since you do not know exactly what you want to do long-term, the brand name from a BB will translate better to careers outside of finance. You might want to do a bit of research into the JPM group that you will be placed in to see if that aligns with your interests.
Seems like the verdict on this thread is clear. Thanks guys!
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