Advice needed: JP Morgan European vs Global Equities - which team?
Hi guys,
Even though I interned in IBD last summer I am more interested in Buyside Equity Research (-> best case: Portfolio Manager later on). Therefore I want to apply for summer internship at asset managers. However I am a litte bit unsure about the job description of JPM and the options I have since almost every asset manager defines roles differently and has different names for the same positions/divisions which can be confusing also in terms of front office vs middle office. It is not as distinguished as in IBD.
"Within International Equities, we are hiring into two teams: • European Equities (Behavioural Finance & Research Driven Process) • Global Equities
Our European Behavioural Finance team pioneered what is now an industry recognised investment philosophy. They continue to be at the forefront of the philosophy’s development, managing mandates including long only, long/short, single and multi country, core and single style strategies, investing right across the market cap spectrum. Day-to-day responsibilities will include many different facets of portfolio management, from equity analysis and stock selection through to portfolio construction and client interaction.
Alternatively, you might work in Research Driven Process team, where skilled and experienced career analysts track hundreds of key UK and European companies to assess their attractiveness as an investment opportunity. This involves regularly meeting with company’s senior management, attending industry conferences and events and undertaking detailed fundamental analysis of financial reports. In-house equity analysis has an enormous influence on investment decisions."
Would you have any advice on European (Behavioral Finance vs Research Driven Process) vs Global Equities? Which things should I consider in my decision making? What would be the "typical" buyside ER? (I assume the Research Driven Process Team?) I don´t want to realize halfway through the internship that I am in a middle office role.
Since I am just a student it would be very much appreciated if I could get some advice on this from more experienced people.
Cheers
The global equities position would be the most conventional and given you the broadest skillset. Personally, I would go with it as it would open up a lot of doors. Both sound like really interesting roles though.
Would you consider all 3 roles as Front Office? Global Equities probably is but I am unsure about European Equities since it's split in 2 teams that sound really similar. Additionally the role is in London so would that mean that the Global Equities Team is smaller than the European? (Most of them in NYC?)
All three are definitely FO roles
All three sound like good positions.
On a side note - I'm also completing the application. I'm unsure as to what grade I should put in the High-School GPA section (I didn't go to high-school in the US, so I don't know the conversion). Do you have to be 100% accurate or can you simply use any googled grade conversion?
Global Equities
but I assume that a big part of the Global Equities Team will be located in NYC rather than London, would that be a disadvantage?
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