Help deciding between PNC risk management and JP Morgan FADP internship
Currently a junior, have offers from both of these companies for their internship programs and only about 2 weeks to make a decision. PNC is located in downtown Pittsburgh, JPM would be in Newark or Wilmington, DE. Currently split trying to decide which one would give me better experience and exit opportunities. JPM has the name brand and higher pay rate but I'm concerned that it will be much more BO work and will leave me with little exit opps. Neither internship can guarantee me positioning into a specific division, although I know I would be most interested in credit/market risk management at PNC.
Areas of Risk for PNC:
-Risk Operations
-Risk Information Management
-Enterprise Data Management
-Compliance
-Enterprise Risk Management ? Credit Risk
-Market Risk Management
-Model Risk Management
Areas for JPM FADP:
-Business Management - Help drive key initiatives that optimize business performance. While responsible for identifying, escalating and mitigating business risks, this team also acts as a Trusted Advisor to business and group heads.
-Controller - Responsible for ensuring the overall integrity and validity of the financial statements and controls over the transaction cycle; performing critical reporting and controls functions for the organization, including legal entity, financial and regulatory and product valuation.
-Financial Analysis - Create meaningful analysis, reports, presentations and strategy documents in support of our businesses. You'll also be responsible for internal and external data gathering, analysis, reporting, financial budgeting and forecasting.
-Project Management - Contribute to programs that are large scale and comprised of multiple projects and workstreams. Initiatives drive cross line of business or firm-wide agendas for implementation of new regulations, standards or policies.
Also still waiting to hear back from JPM Private Bank PWM internship in downtown Philly. Anyone have any insight as far as what they think would be the smarter decision for future career potential?
PNC
Any explanation as to why?
self-bump
I have visited the JPM Delaware office and a friend of mine who is a year older was placed in the FADP. However, when he went to work for them last summer, he ended up having to work at Chase Bank in Wilmington doing automation and not doing as much finance that he would like. Another friend of mine who interned in the FADP there ended up doing much more accounting work then finance.
It seems like there's a lot of BO stuff going on there (which there is) I'm almost positive, but you have to also decide what market you want to work in and what you can do outside of work as well. Newark isn't exactly the most popping off place in terms of lifestyle and night life and it isn't exactly a 20 minute train ride from Philadelphia. At least at PNC you have the downtown Pittsburgh night life..but I'm making too many assumptions on what kind of setting you like as well as all the other factors you should consider.
When I visited JPM in Delaware, most of the people seemed like they were staying there, whether that be because they really liked it or there were no exit opps.
Just my .02
Thanks for the comment. I live in the Wilmington area so I am very familiar with what there is to do outside of work. I definitely wouldn't be trying to get too comfortable in DE though, and probably wouldn't want to do the 2-year FADP program after the internship. I would be looking to try to network and leverage any experience I could get to try to move out of a BO role and maybe to somewhere in downtown Philly or up in NYC.
I also just heard back from PNC and they said they only division of risk that I MIGHT be able to be placed into would be credit risk, as they are not offering market or model risk management to interns. This is making me worried that if I don't accept the JPM position I might not get anything better in terms of name brand/financial experience. Even if BO isn't where most people want to be, does it not help to develop an understanding of the business processes from the ground up?
I think it all comes down to what you want to do in the end..being someone who is familiar with the area, it could be a good idea to stay there and try to leverage it into something in a bigger market, considering youre not too familiar with the Pittsburgh area.
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