What is JPM Digital Markets?

Go to an Ivy and have the opportunity to potentially join the JPM Digital Markets team. Confused as to what exactly it is. Everyone’s saying it’s solidly FO as it’s part of Markets yet to me it seems more like a product manager role. Anyone heard of it and have insight into what the team does and perception ?

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It is definitely a front office role, but it's fairly versatile and can be a little more "techy" than typical S&T. You are right to say it is somewhat similar to a product manager role at a tech company. The team essentially focuses on the future of S&T at JPM, and you could be assigned to a bunch of different teams within digital markets. Some may focus on creating better sales or execution platforms for a certain client type, and others may focus on building out a market-making division for crypto or other digital assets. This is actually the "exit opportunity" for a lot of people in sales, research, or sometimes even trading. The role usually has better hours and its super helpful having a background in S&T to begin brainstorming ways to automate, improve customer experiences, or even. build out whole new divisions or research tools. Less common, but I'm sure you could also move from digital markets to a more traditional sales or trading role as well. Comp will probably be similar to traditional S&T at junior levels, but it will depend on the success of your specific groups success obviously for bonuses. Some teams within digital markets sound more interesting than others (some adhere to people with engineering backgrounds whereas some will be more client-focused), so I would try to figure out which one you'll be placed on exactly. Super cool opportunity though and would definitely pursue

 

This kind of is the exit opp, but if you wanted to leave you could go on a few different directions:

  1. Depending on your team/background, you could go do a similar thing at a different place. For example, if you are on a more technical team focusing on automation, you could go work at a quant market maker as a product manager or even an engineer if you have that background.  This would be nearly the same role as at JPM, but you'd obviously have more flexibility for taking risks and potentially higher comp. If you wanted to look this up, it would be something like working under the Strategy and Product division at Jane Street. If you are on the blockchain or digital assets team, you may be able to move over to Coinbase or something along those lines.
  2. Usually people would go the other way, but say you are on a team focusing on FICC electronic trading or something along those lines. You could always switch to working in sales as you would be extremely knowledgable on the platform having worked on the development side. This could be platform or ficc e-sales within S&T or even potentially over in the private bank depending on your team.
  3. If you wanted to exit to a hedge fund, you could always start in digital markets and switch over to becoming a trader. Digital markets is still a part of S&T, and JPM is great about mobility, so this would be a fairly easy move. 
 

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