wf ibd vs jpm ibd
Pros/cons of each? Which would present better FT options.
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If they are both general (not group-specific) offers, then JPM hands down.
JPM for sure especially if its for SA as you can leverage an offer to move to GS/MS come f/t recruiting.
JPM without any doubt whatsoever regardless of group.
If you want San Francisco or a laid back culture; if their group REALLY clicked with you, there could be a case for Wells Fargo.
For at least 90% of college juniors, the answer is JPM.
Yeah it's hard to make the case for WFS. That said, I know folks who worked for WF, worked their assess off, and got paid more than dudes at JPM. That said, it's not all about money, and whether it's fair or not there is still a bias against WF's capabilities as an investment bank. I guess that's what you get when you buy a southern investment bank.
Can you articulate how choosing Wells Fargo over JPM for the next 2-3 years is worth giving up appx 5-10% of your income over the next 30 years? I think it's a fair statement to say that JPM currently pays 10% more (after bonus) than Wells Fargo and that your career opportunities coming out of there imply a 5% better career than you'd got from WF.
If you can't do that, JPM is either borderline with or better than Wells Fargo.
On the other hand, if you saw a great team at Wells Fargo and hated the team at JPM, start trying to articulate how JPM would be better for your career. If you're pretty sure the team at Wells Fargo is better for you, start trying to tell yourself how JPM's brand helps you more. If you find it hard seeing yourself working with that team and having a great career after two years as an analyst, then you know Wells Fargo is borderline or better than JPM.
These decisions aren't easy. Fortunately, you have a decision to make for an internship, not for full time.
No no, this decision is easy. Take JPM and for God's sake don't look back
OP is coming here probably because he has some sort of dilemma. He may have liked the people he met at Wells Fargo and hated the folks at JPM. Or he has a mom who is fighting breast cancer in San Francisco.
90-95% of people are served well by choosing JPM, but 80% of people do not need to think about JPM vs. Wells Fargo. So OP is in the other 20%, and probably at least 25% of that other 20% might be served well by choosing Wells Fargo.
Given that OP is asking, we have to assume there's something motivating this question beyond "duhh, exit opps".
Your points are all good ones. I was speaking more from the perspective of someone who wanted to stay in the industry long-term and move buyside. This is certainly not impossible at Wells, but my experience has been that there still exists a strong bias against WF from top buyside shops. That said, I know a guy from wells that ended up at a top corporate PE group, so it's all relative.
And, yes, never, ever estimate the ability for team composition to either make or break or sanity over the course of 2-3 years. If the JPM is full of terrible fucking people, and the WF guys are awesome, go WF. People who would call this unwise need to be reminded of the exceedingly high attrition rates in banking, in general, and in groups filled with terrible people, specifically.
if you only want to work on debt deals, WF hands down.
JPM lev fin is dank though
Btw, JPM has a very high SA->FT offer rate. JPM hands down
Lol, really? Obviously JPM. Go to NY for 2 years then get out (if you get the FT). Really stupid to turn down JPM for WF because you don't like the location of the job, it's an ENTRY level job..
Also keep in mind after your first 2 years if you want to switch locations, it'll be much easier to go from JPM NY to a different city than it would be for WF.
Finally I would just point out that an internship is an option and you should go high-vol for this. An internship is the opportunity to take on a job you're not sure you can handle and to step out of your comfort zone.
If things don't work out at JPM, you can probably go back to WF. The same may not be true for WF to JPM.
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