lovingshine:
well i heard jp doesn't treat interns with respect. Apparently, they move them around all across divisions (from IBD to operations for example)

Last year they deferred some first years for 1 yr, but the summer class has never had people moved around. Keep in mind that all of those who were deferred could just have easily been fired.

 
Execution:
Go and sign your JPM contract...NOW...

Better dealflow, better reputation, better place to start right about now etc.

If you had MS or GS it might be a slightly tougher decision.

i second that. even if you had offers from MS and GS, one might say JPM is the best place to be right now. Is it internship or grad position. i know that jpm only hired grads from their internship class.

 

Tough one. I'd go UBS, ML, Citi... but really I could see any of them flipping in the future.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

Needless to say, everything I say is going to be biased. I am not passionated to work in equity, so I shouldn't comment on CS HK. But keep in mind, there is no exchange for equity options, only over the counter. So hmm, in terms of hedging, it could be different or difficult sometimes. On the other hand, maybe you want to be a delta one trader, so .... I think Citi and JPM are both very good options. I prefer rotational program myself . But JPM is very solid and seems to give more offers this year, again my perception.

 

Thanks guys! It s quite a bit choice for me. What are your main reasons to tell CS is better ? I know the global financial shape of Citi is not good compare to CS today, but do you think there will be more opportunities in S&T in the coming years at CS ?

 
lovingshine:
But, I am an international student. With the restriction on foreign hires in US banks, I am leaning towards CS.

i think the new legislation applies primarily to TARP "double dippers", but you may want to check if they (JPM) are still willing to take you. if they are, that means they are finding a way of squeezing you in. remember, it is fairly costly for them to hire you--they wouldn't do it unless they could reasonably employ you.

 
Best Response
monito:
lovingshine:
But, I am an international student. With the restriction on foreign hires in US banks, I am leaning towards CS.

i think the new legislation applies primarily to TARP "double dippers", but you may want to check if they (JPM) are still willing to take you. if they are, that means they are finding a way of squeezing you in. remember, it is fairly costly for them to hire you--they wouldn't do it unless they could reasonably employ you.

yes. you have no idea how much it costs banks to hire internationals. i got into a bank in london and they are gonna pay 1. 1100+ pounds for ticket 2. already paid 400 pounds for the ticket i bought for the interview 3. tow nights at a 120 pounds-a-night hotel when i went to interview them 4. a lawyer to help with my work permit (it must cost a lot of money) 5. they will pay a hotel for me for my first week in london when i start the internship 6. i bet they pay money when they give a sponsorship to someone

 

Not sure what JPM's policy is about visas, etc, but CS is pretty good about relocating FT offers from the US to abroad if a recruit does not get a work permit. Has happened a few times and most of the kids moved to the London or Tokyo/HK offices. No idea about JPM, but CS's viewpoint is not the same as everywhere. Heard several places, including Citi, that will just rescind your offer if you can't work where they hire you.

 

JPM at last check is #1 in M&A, Equity, and Debt offerings. Their training for SAs is one of the best, if not the best, on the street. They have average to high offer rates relative to other BBs, dominant market position, and decent hours. Not a bad time to be joining Dimon & Co... As a global bank, I'm sure they can take care of the Visa issue.

 

I didn't know JPM recruited international students. Additionally, Credit Suisse does recruit international students and they are pretty flexible when it comes to relocating. I would seriously look into the visa issue before choosing a bank over prestige. I know some people who have run into some serious issues regarding visas etc. Also, if you do get relocated, chances are it will either be to HK, Singapore or Dubai. I hear it's very difficult to get relocated to London these days because they have their own visa issues. Tokyo usually hires people who have Japanese language skills or know a good deal about the culture.

 

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