I got offers for both JP Morgan and Goldman Sachs internships. I'm not really planning on going into finance I just want a gold star from a top company on my resume for law school applications. If the take the JP Morgan offer the pay is more, they pay time and a half for overtime, I have a signing bonus, I do not have to move to another state. For Goldman Sachs I have to move to Utah, the cost of living there is less, which makes the pay less, overtime is half of regular hours, instead of a signing bonus I have a relocating stipend to help pay for my apartment and airfare. The signing bonus /relocating stipend are equal for both companies.
Overall the pay is much better for JPM. However, I think that GS would look better on my resume for law school. I also like the culture at GS better since they focus a lot on gender equality. I am not planning on working there in the future but if I did I would want a company that I could relocate to NY. Which one would you pick?
GS. I summered in GS junior year summer and it has done tremendous for me in the professional world. I received around 20 full time job interviews and turned most of them down after committing to a firm (not GS). The name speaks for itself.
FT Decision: JPM or GS (Originally Posted: 08/17/2014)
I interned at JP this summer and received a FT offer. However, have some good connections at GS who want me to interview FT with their group.
Based on the current status of FICC across the board (I would want to trade within FICC), which is a better choice? Also considering culture, pay, exit opps etc, should i sign the JP offer or explore FT interviews at GS?
Also keep in mind that I loved working at JP and have some people who helped me get there, who may potentially be disappointed if I leave. I'm thinking i know what kind of answers i will get in this thread but am wondering if there are any game-changers that I'm not aware of.
Very difficult decision to make, but still good position to be in.
Btw, I heard that starting next year, GS analysts are getting a sick raise. Would choose them if true.
Is the source reliable? GS can afford to not pay much at the junior level and still attract talent.
delete
What is exactly sick? 85 vs 80?
Depends truly on the people at each and what desk you want to be on. If you either one allows you to skip the rotational basically and jump right to the desk you want would go with that choice.
This really depends on what GS is willing to give you. Their FICC department has been going through a rough patch (at least until recently) and there are plenty of fixed income products where their market share is lower than JPMs. But as Marcellus Wallace said, if you can get directly on a desk you want to join, that is gold. Just note that the interview process at GS outside of normal recruiting can take a very, very long time. Stall on the JPM offer as long as you can and make the people at GS know in interviews that you are sitting on that offer. If your rapport with them is good enough and a particular desk likes you, things could work out.
Rumored to be base of $85k. With their below average bonuses that puts them on par with other BBs for all-in comp. You would be an absolute idiot to switch banks just because of a $15k pay increase.
Making the effort to switch from JP to GS would require a clear advantage to moving... and I fail to see it.
-
Did you like your desk during your internship? If you did, stick with JPM. Contrary to belief on here, in SnT prestige means jack shit; product is the trump card and whether you have a book.
JPM is a great shop so don't burn that bridge for an interview.
JPM. No clear advantage for jumping to GS. Their prestiges are about the same. And the people matter ALOT.
If you like the people on your desk: stick with JPM
If you have such good connections at GS, where were they when you needed an internship a year ago?
its amazing how many kids base their decisions on differences of 10-15k in comp, and thats pretax 10-15k!!!
I remember when RBS came out with base salaries at 60k gbp in the UK and kids would actually choose that over other banks.
I tried to explain to so many students at my uni that RBS are paying £60k for a reason, they didn't get it.
Stick with JPM. Your job satisfaction depends a lot on the people you work with.
Salary and Compensation at Goldman compared to JP Morgan? (Originally Posted: 12/25/2009)
Any numbers floating around?
don't they get their numbers in jan bc of the new fiscal year shift?
Goldman usually has the "Goldman discount" but should be rather comparable
Wth is the Goldman discount? At the junior levels, pay is comparable across all the BBs.
Thinking that Goldman pays more because it's Goldman is wrong. Because of their great image, they can afford to pay their juniors less than other banks. This is the "Goldman discount". But frankly, I don't think they take advantage of this at Goldman.
There is indeed no difference at junior levels.
^^ Know for a fact that it does exist - especially around assoiciate - VP level
How significant are you talking?
GS vs. JPM, which one wins your heart? (Originally Posted: 11/21/2013)
Hi everyone,
I'd really appreciate some advice here! For Investment Banking Coverage Side (industries, m&a, lev), would you choose GS or JPM. Whyyyy?
Also, I'd love to hear some insights about the two firms' culture, people and opportunities for summer interns!!
It really depends upon the group you are assigned but if I was given the choice again I would go GS.
Thanks State of Trance!! but can you talk a bit more about this? It sounds like you have experience at both places?
Virtually all M&A modeling is done within coverage at GS. At JP, it depends largely on group, where M&A and coverage may share responsibility over the model or not at all.
Outside of the prestige advantage, that's a huge plus for GS.
The only three groups I might even consider at JP head to head are M&A, LevFin/Sponsors, and maybe Healthcare.
Thanks Sav, yea I'm quite concerned about the sharing between M&A and coverage.... Do you know anything about JP's TMT and Industrial Group?
Remember, JPM actually has a large balance sheet so the nature of their LevFin team is different than GS
GS won't make you work on Saturdays! I never thought I would say that in my life.
You worry way too much. That's like asking whether a Lamborghini or a Ferrari is better or asking whether Kate Upton or Faye Reagan is hotter. If you get an offer just go with it. If you get two offers save yourself time and flip a coin.
I think that was a subconscious slam of JPM.
@"Loki777", for real what?
Best part about GS is that when you're talking up a smoke, and you tell her what you do... they can't say, "No way.. I go there all the time to cash my $274.45 paycheck every week. Everyone there is so nice!!!"
-Gramm Leach Bliley... Cockblock since 1999
This on so many levels. GS > ATM Bank
@"Bateman Begins" Those girl choices.... uhhh wut One is a refrigerator, other is a trash bin.
GS. You'll get paid more than JPM (at least from what I've seen in terms of analyst bonuses recently), get pretty much consistently better exits out of any group, have a name that carries more weight on your resume, a nicer building, and the instant ability to make any insecure individual at a rival sell-side firm except Blackstone envious of your position.
.
well for IBD you guys can go at it but JPM is my all around favorite as a company for their asset management and private banking side as well as retail arm
But GS only caters to the UHNW people in it's PWM division making it prestigiouser.
I like JPM too! They gave me a bag a freebie when I opened my student checking account!
GS
Old but still great: http://www.leveragedsellout.com/2005/09/the-boutique/
No JPM is not a boutique, but it makes me think of atms and auto loans.
I don't really have any knowledge on this, but I would assume GS compensation would come down a little bit after the supposedly reduced hours. I might be completely wrong though.
I would agree, I imagine in the following years we will see GS compensation begin to decrease (unless this compensation thing is not taken seriously). Then again, if other banks take this measure, their compensation would probably decrease as well.
Pretty sure GS already pays a bit less
I'm going to have to say that neither one of these companies are good, let alone wins my heart. Neither one can keep their word. One pulled a credit line on me and the other fucked me in the ass (with no reach around) despite good branding, if I was starting over again I would go straight to a hedge fund instead of dicking around with these two commercial banks.
-- Dick
Lehman bros 3 @DickFlud
Does anyone actually have any info on GS vs. JPM in London? I'm pretty sure there's no separate M&A team at JPM there, so I would imagine that all modelling is done in coverage groups (or maybe country ones); at the same time GS only has 2 industry teams in M&A in London (FIG / NR) and a generalist pool for everything else. Also, how good are JPM TMT / DI in London in terms of experience and exit opps?
Wait until you have an offer from either one before you start worrying about this.
Depends if you want to work for a retail bank or an investment bank.
GS, JPM, MS, BoA, who cares? Just try to get into one of these banks first. Stop with the crap investment bank/retail bank. JPM is only a retail bank in the US.
JP Morgan or Goldman Sachs IBD Summer Analyst (Originally Posted: 12/06/2017)
Which one is better and what are the differences? Just curious to hear thoughts on the two in their current state as well as thoughts on exit ops into other careers (consulting, PE, etc.) for the full time.
Hey RiMan9, I'm the WSO Monkey Bot and I'm here since nobody responded to your thread! Bummer...could just be time of day or unlucky (or the question/topci is too vague or too specific). Maybe one of these topics will help:
If we're lucky, the following pros may have something to say: Luxo ning @vicrook1"
Fingers crossed that one of those helps you.
Compare/Contrast: GS and JPM Fixed Income Trading (Originally Posted: 01/16/2014)
I'm interested in trading/structuring within fixed income, my top choice would probably be credit derivatives from what I've learned so far. I recently received an offer from JP Morgan Sales and Trading, and am waiting to hear back from Goldman Sachs Securities. How would you compare the reputation/profitability/culture of the fixed income divisions at these two banks?
You can't go wrong with either of your choice, both firm has a great culture and a very competitive scene
May I ask what attracts you to credit structuring? and which location?
Thanks for the reply! I have a very quantitative background; I'm double majoring in engineering and mathematics at a highly ranked engineering school. I'm also fascinated with the more macroeconomic character of fixed income in general. With this skill set and set of interests, I think my background is best suited to this area of work. The location is NYC.
Goldman or JP Morgan? Which one should I take? (Originally Posted: 12/12/2017)
I got an offer fro Internal Audit from GS and Risk analyst from JP Morgan. GS: pays less, requires me to move. JP: Pays 20% more than GS and is in my hometown.
JP all the way. Stay the hell away from internal audit.
why? Internal Audit will give me an insight on a more broader picture of the firm and lets me learn about more than just one department.
Really depends on what you want to do. Internal audit can get you pigeonholed but it can position you well to become a CFO down the road. Risk can vary but if you work in credit risk it's definitely the better choice.
Take JP Morgan. Internal Audit just sounds depressing.
Risk Analyst could lead to a lot better opportunities in finance. HF, AM, PE. Take JP Morgan all day.
Goldman or bust. ALWAYS
Molestias iste soluta accusantium molestiae id et sint. Itaque quidem ducimus libero quasi ratione quia velit dolorem. Iste temporibus commodi tenetur at. Harum et dolore quo unde.
Ipsam quis rem distinctio accusamus. Temporibus dicta consequatur quae et ut ipsam. Cum ut est iure dolor quo culpa. Qui provident et qui non.
Blanditiis non perspiciatis quo sed quidem necessitatibus. Perferendis nostrum molestias nemo. Nisi omnis dolorem non alias quisquam. Fugit vitae veniam illum et voluptatem sit sit. Quo rerum rerum molestias maiores. Facilis quibusdam est sunt voluptatem earum dolorum. Dicta eum mollitia vel itaque iure.
Non sit possimus placeat. Quibusdam perferendis qui ratione harum eveniet hic vel.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Qui voluptates ut autem. Est blanditiis consectetur cumque maiores sapiente. Ut voluptatibus tenetur nesciunt unde facilis sed. Odit nihil commodi architecto voluptas repellat error possimus saepe. Debitis ea occaecati repellendus sit iure et necessitatibus atque.
Aut ut itaque voluptatem est animi explicabo. Ut quam cupiditate aut aliquid.
Exercitationem voluptas voluptatibus molestiae enim omnis qui. Quam quibusdam aut ab totam.
Et dicta alias mollitia laudantium odio aut. Est quod delectus quisquam optio non quas tenetur. Voluptatem quia non delectus distinctio nisi aut. Et repudiandae voluptatum est voluptatem at culpa. Laborum harum quo aperiam ratione quia est nihil eius.
Omnis ea ut modi. Quam esse earum in itaque neque animi est. Tenetur consequuntur culpa eligendi deleniti amet. Quaerat eaque labore id rem quo. Dolorum eum suscipit libero qui. Aut atque aperiam aut vel.
Asperiores molestias labore rerum cupiditate illum nam pariatur. Velit ut enim aut est et et. Consequatur molestiae et ducimus ut est. Quam quis aut veritatis et et ipsum. Neque amet debitis in dolor fugiat iusto.
Nobis vero repudiandae autem quibusdam sint. Reiciendis quia dolorem dolorem reprehenderit dignissimos magnam. Earum facilis et consequatur excepturi. Quo illo aliquid neque consectetur error quidem delectus. Nesciunt autem aut totam nesciunt. Ea sed et id sed sed natus dolores dolor. Quod odit velit voluptas animi quos est.