Help: GS SF S&T vs JPM NY S&T
Hello hello!
I'm a sophomore at UMich and I recently received an offer (that expires 2 weeks from today) from GS in SF for 2025. I learned in the interview that GS puts their sales division in SF and trading division in NY.
However, I have also received an offer from JPM for this summer through their Advancing Black Pathways program. I've been told that through this program, JP would extend an offer for 2025 if I performed well.
I'm just coming here for advice on which offer to take and why. Please give me any insight you have regarding the offices and the firms' reputations in S&T for different desks. I'm interested in equities (not opposed to other things though) and I could do either sales or trading. Thank you guys :)
Based on the most helpful WSO content, here's what you need to consider when deciding between GS SF S&T and JPM NY S&T:
Location and Division Focus: You mentioned that GS places its sales division in SF and its trading division in NY. This is crucial because it aligns with the typical focus of each location. SF might offer you more exposure to tech and growth sectors, which can be beneficial if you're leaning towards sales within those industries. On the other hand, NY is often considered the heart of trading activities, providing a robust environment for someone interested in trading.
Program Structure and Job Security: The JPM offer through the Advancing Black Pathways program suggests a pathway to a 2025 offer contingent on performance. This could provide a more structured progression compared to the GS offer, which might be more straightforward but less explicitly secure in terms of long-term placement.
Firm Reputation and Network: Both Goldman Sachs and JPMorgan have stellar reputations in S&T. However, the specific reputation and strength of each firm's S&T division can vary by location and the specific desks they house. It's generally observed that GS has a strong brand influence which can be advantageous, especially in sales roles. JPM, being a massive player as well, offers extensive networks and resources.
Personal Fit and Career Goals: Reflect on where you see yourself fitting better culturally and professionally. Consider the teams you met during interviews and where you felt more aligned with the team dynamics and values. Since you're open to both sales and trading, think about which city and firm align better with your long-term career aspirations, especially considering your interest in equities.
Educational and Growth Opportunities: Evaluate which program offers better training, mentorship, and educational opportunities. These aspects are crucial for your professional growth, especially in the early stages of your career in S&T.
In conclusion, weigh these factors based on your personal career goals and preferences. Both offers are prestigious, but the right choice depends on where you see the best alignment with your professional aspirations and personal growth.
Sources: Deciding between GS, MS, and JPM, My Story: From Trading Floor at UBS To Entrepreneur on Kickstarter, Citi vs Goldman S&T for SA, Goldman Sales & Trading vs. BCG -- Sophomore Internship, Goldman Securities vs. MS S&T
Do you have absolutely no preference towards sales or trading?
I think sales has more transferrable skills, but I also think trading is very engaging + I feel like I would enjoy having risk to my name.
sales has more transferable skill set? i highly doubt it. As you relocate from one place to another, u lose ur client group and need to establish new local network again. one the opposite side, being as a trader, ur whole skill set is within urself. at least that’s my opinion so far
Congrats on two awesome choices! The New York office will provide better opportunities for starting out a career in S&T. I would go with JPM for this reason
Thank you! What type of opportunities come to your mind?
Generally speaking, regional offices are not as well regarded for S&T (akin to Equities in Dallas if you've read Liar's Poker). S&T is not like IB where some regional offices are incredibly strong. You may be okay with "settling" for Sales now, but being in the NYC office for S&T will give you much more mobility if you decide Research, Trading, Structuring, and so on is a better fit for you. Also, if you decide you want to switch to SF later down the line, this will be much more plausible coming from NYC than vice-versa. It is much better to be in the midst of the action in NYC, especially when you are young, than on the sidelines in SF.
Go with JPM 100%. Would be more equal if both were in NY, but S&T in SF is not real S&T
Interesting, what makes you say that in regard to SF?
NY is the epicenter of global markets in the US. SF is not. As you said, you would be restricted to sales and wouldn't even have that face to face element with the traders that really defines S&T. And like the other dude said, regional offices like SF are looked down upon for S&T. Simple as that.
what does that even mean? we work with teams in SF daily.
Well JPM is more prestigious than the chock-full of DEI juniors we call GS nowadays and old money blue-blooded aristocratic 6'3 UVA lax bros at Apollo NY is infinitely more prestigious than new money nerdy 5'6 indian SWEs at Facebook SF
What are we talking about?
GS S&T has the lowest return rate and the ppl they hire...i'm just gonna say go with JPM. they're the real deal.
details?
My coverage in SF on the high touch trading desk is moving to nyc. Apparently NYC s&t is being further centralized to one big desk in New York which makes total sense. I believe equity sales and other admin functions will remain in SF for hybrid west coast client coverage.
With that being said I don’t think that the trading seats on the west coast will stay here too much longer. There is maybe one person per product group in SF and I’m hearing that it’s shrinking.
That’s my two cents from the buy side chatter
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