Torn Between JPMorgan & Bank of America Offers — Need Advice
Hey everyone,
I’m currently a junior majoring in Finance at a non-target and could really use some perspective from people in IB / Credit / Corporate Banking.
I recently received two summer offers:
- J.P. Morgan – Commercial Banking (Commercial & Specialized Industries (CSI)
- Bank of America – Global Corporate & Investment Banking (GCIB) Enterprise Credit
I’ve talked to several JPM folks already and really like the client travel, relationship-building, and exposure to middle-market clients, but I’ve also heard mobility to IB is tough.
On the other hand, BofA GCIB Credit sits much closer to IB (especially on the Leveraged Finance / Corporate Credit side), and people say it’s a strong feeder into IB, DCM, or Private Credit roles.
Question: For someone who ultimately wants to end up in IB, which seat gives better positioning?
As someone who worked in BofA Corp Credit, I wouldn't say it's a strong feeder to IB (still a feeder). DCM & Private Credit i would say it's a strong feeder because the work is directly credit oriented and skill set is pretty much the same. Personally don't know the work for the JPM role but if it's with the Commercial banking side then you got two things going against you.
Personal recommendation is to go with BofA if IB is your ultimate goal. The biggest hurdle with the JP offer is the fact it's with the commercial banking side.
Agree with this post completely
BofA wholesale credit is still a tough jump to IB but less tough than commercial and specialized industries (I.e. commercial banking)
As an aside I made the very difficult jump from commercial banking to IB and worked in corporate banking and know folks in JPM commercial and specialized industries so feel pretty qualified in my opinion
Can I pm?
Just sent you a DM. I'd really appreciate any advice you can share on the BofA Enterprise Credit Superday. Thanks!
If IB is the end goal, BofA GCIB Credit is the better option. You’ll work closer to deal flow, modeling, and capital structure — all directly relevant to IB or private credit exits. JPM CB is great for client exposure and relationship skills, but it’s likely harder to pivot out of.
Thanks everyone for the responses
Since posting, JPM also asked me to consider a seat in Asset-Based Lending (ABL) under their Capital Advisory Solutions group. From my call with someone on the team, I learned:
Given that ABL seems to straddle Commercial Banking, Corporate Banking, and parts of IB, does this change anyone’s perspective on JPM vs. BofA GCIB Credit from an IB / Private Credit exit standpoint?
Appreciate the help!
I disagree with everyone and think you should take the JP offer, especially if they will let you intern with the ABL team.
Credit sucks man. I had to do it for a year earlier in my career and it’s so depressing. Knowing your just as capable as the ibk guys and are sometimes even doing the model, but they get double your pay.
I would take the ABL offer.
BofA without a doubt. It's a hands down better role and the horizontal comparison to JPM would be GCB not CSI.
I understand why CSI isn’t a perfect horizontal comparison. But do you think the Asset-Based Lending internship still lacks the same level of value and proximity to IB that BofA offers?
Is AB under MMBSI?
Yes - ABL is very niche / specific. If you get that job, it will undoubtedly make your life tougher if you decide in 1-2 years time that you still wanna (try) shifting to IBD.
The BofA option is a better specific role for IB… if your goal is to give you the best odds to crack IB, take BofA. On the flip side, JPM is a much better overall bank.
JPM hands down the better bank (biased) but I will agree with others and say BoA offer you have would be better for IB.
Currently in CS&I, love JPM, the program is great. Very uphill battle to IB though, 2-3 kids per year make the jump but need massive senior support + the IB team should like you. Surprising amount of jumps to coverage rather than DCM/LevFin.
ABL offer will not help, might make it harder tbh because of how niche it is. You will be knee deep in legal /credit docs. There is a reason they ask all the analysts to join that group. The other two are FSG and SFG within the CAS track, FSG being the best option. SFG essentially cranks syndication decks and gets worked (for CB) but not interesting IMO.
Hey, do you mean: OF the 2-3 kids that go to IB, they usually go to coverage? Have you seen a pathway from C&SI to non-JPM IB? In a similar boat
How easy a it to move from ABL desk as a intern to FSG or SFG for fulltime for a HCOL location like Chicago, New York etc.
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