What are the strongest groups now that M&A has been dissolved. Would groups like Tech and C&R that didn’t hold the pen on the model before be more attractive since now they model in-house?
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Based on the most helpful WSO content, JPMorgan's group rankings and dynamics have shifted over time, especially with the dissolution of the M&A group. Here's what you need to know:
Healthcare (HC): Continues to be one of the strongest groups at JPM. It has a reputation for high deal flow and strong exits, though it is known for being a "sweatshop."
Technology, Media, and Telecom (TMT): With the dissolution of M&A, TMT has become more attractive as it now handles modeling in-house. This group has always been strong and is highly sought after.
Consumer & Retail (C&R): Similar to TMT, C&R has gained appeal due to the increased responsibility of modeling in-house. It is considered one of the stronger coverage groups.
Leveraged Finance (LevFin): Known for its heavy modeling work and strong credit skillset development, LevFin remains a top group at JPM.
Financial Institutions Group (FIG): FIG is recognized as one of the strongest on the street for its niche expertise and solid exits, though it has a reputation for challenging culture and hours.
Diversified Industries (DI): As the largest group at JPM, DI offers broad exposure and solid deal flow, making it a good option for those seeking diverse experience.
Key Takeaways:
Ultimately, the "best" group depends on your interests, skillset, and career goals. Prioritize groups where you can excel and align with your long-term aspirations.
Sources: What are the best groups for JPM?, Top Groups at JPM?, Best Banks for On-Cycle Rankings, ft JPM HC (NY) vs PWP (NY)
Can any current JPM analysts chime in?
No, they were less attractive because they are far behind GS/MS and either have smaller deals or less important roles on larger deals.
HC/M&C/FIG etc., are closer to GS/MS. Some might say equal or even ahead in some areas and so your deal experience will be far better vs. what you'll get in tech or C&R.
Deal experience is much more important vs. "who holds pen" on some meaningless acc/dil model that a high schooler could build.
How accurate is this for Tech in 2026? Recently JPM tech has had some top tier mandates, for example the exclusive $14.8B Delivery Hero sell side to Uber
At gs/ms/evr
Far behind is a bit of a stretch, though would gun for a better offer given jpm doesn’t give a shit about protecting Saturdays
Not entirely sure, but think deliveryhero was based out of JPM emea. Along w DoorDash deliveroo. Someone correct me if I’m wrong please
Sorry guys but JPM is ahead of MS in every possible group in terms of dealflow. Just mind blowing to see supposed prestige of MS still lingering on after more than a decade of trailing JPM in every possible metric.
You’re lost. JPM runs an IB analyst headcount almost 3x the size of MS and still underperforms in Tech, M&A, Sponsors, Media, Power & Utilities- just to name a few. JPM has a massive ECM business that MS lacks, but that’s really the only benefit of being in an JPM seat over MS. There’s still not a single student who’d pick JPM over MS if given a choice.
industrials will get weaker as they just lost Arkadi to citi
HC has the shittiest culture of all time. Had an offer there and associates were asking me for dirt on other candidates from my school. Another associate told me he was suicidal. A lateral VP was just a massive asshole to me in my super day with him. Another VP looked like shit and actually fell asleep (full on snoozing) in my interview with him lol. Avoid
Bump for EMEA. How is DI?
Bump how is FIG NY?
Best FIG team on the street by a fair margin in terms of deal flow, but also a very big group by headcount
Even over GS FIG? Any idea which verticals have the strongest exits? Appreciate the insight
JPM LevFin is paradise
Zero modeling tho, so unless you love doing term sheets and cap tables all day, its the most boring thing in the world. Also, exits are pretty much just private credit and cap markets stuff, and generally worse than your average BB coverage/M&A/FSG exits.
How is FSG?
It's either the best group or one of the worst groups depending on who you are and your personality.
Very "fluffy", low content, not quantitative, heavy focus on keeping sponsors happy. Basically, your job is to make sure the various coverage groups who have all of the content spend enough time focusing on sponsors and their projects, which would otherwise be too low ROI for them to care.
Hours are easier, PE exits are great given you're working closely with the megafunds day in day out, and there's very little math to be done.
If you're super intellectually curious, it's a bad choice and you'll be bored. If you're outgoing, social and love going to Gala's / dinners wiht people, there's potential to have a great time.
Think of it like an IR role for the investment bank, except your LPs are the sponsors.
out of genuine curiosity, how would you leverage the fact that the group works with MFs for pe exits? like how much visibility would an analyst realistically get with the sponsor teams and would it actually be helpful for converting to recruiting related chats?
Is the JPM tech team known for doing less modeling? To prepare for better exit opportunities and flexibility, is modeling skill an essential thing to consider when choosing first job?
I guess now they will start holding the pen given M&A folding into coverage. It also seems like a lot of the Tech team's perception is based on years past. I would love to see color on how they are doing now.
Any insights on the mid-cap group? Are they under corporate banking or IB?
Within IB. Growing rapidly, over 400 bankers on the team now. Analyst staffing are generalist with the exception of Healthcare and Tech. Great deal experience and great culture. Expect long hours
Half of the incoming analysts at the JPM training were in MidCap. Seemed a bit mediocre in comparison to traditional teams.
It is in IB and upper management is making a big push in the sector
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