DB vs. JPM (IBD London, Summer Assoc)
Can you guys give pros and cons? Any idea about conversion to FT? This is London, Summer Associate. Thanks!
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Summer Associate London?
My take:
Brand name / general prestige for IBD ONLY: JPM (for markets, DB is much better) Dealflow / quality of deals: JPM Hours / Culture: DB Exit opps to PE / VC: Neck and neck, although I'd probably say JPM because of the better dealflow.
If you manage to get a gig in the UK investment banking team at JPM, you'll be working directly alongside the Cazenove guys. Caz is absolute "royalty" in UK investment banking and have serious connections. DB have no such "connections" factor, although I think that DB has very good relations with a couple of PE funds (Apax and BCP).
In terms of conversion, DB >>>>>> JPM. For some reason, getting a FT offer from JPM from SA is very very tough.
This is great info, thanks. Would your answers change at all if I am interested in CEEMEA/CIS? I will probably do something like Natural Resources. Conversion rate is extremely important to me, and I have heard that JPM was bad, but didn't realize it was this bad. Do you have any numbers for either player?
Errm...I'm not sure my answers would change that much if you take into account CEEMEA / CIS, although the gap does narrow because DB has a pretty good Eastern Europe franchise.
If conversion rate is really important to you, then I suggest to go with DB. I don't have the exact numbers I'm afraid!
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