JP Morgan Global Finance & Business Management Intern vs Goldman Ops

Thelostmonkey's picture
Rank: Monkey | banana points 56

Happy Friday everyone!,

Hope you are all excited about the weekend. I have received two offers so far from both JP and GS as the title indicates. I was wondering if anyone can give me any advice or insight on the programs and which would offer better opportunities in the future e.g, B School, or transitioning into a FO role like IB, S&T.

If anyone has gone through the Global Finance internship could you also shed some light on the program and how it went for you?

Thanks in advance!

Comments (17)

Aug 18, 2018

Bump

Aug 18, 2018

Has anyone did either program and could provide insight?

Oct 15, 2018

bump, i got into the program too and would like some insight on jpm global finance & business management summer analyst to full time conversion

Aug 21, 2018

Interested as well. Bump.

Aug 21, 2018

Whatever you do for the love of G-d avoid ops. That is a bigger blemish on your FT recruitment resume than anything else

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Aug 18, 2018

Yeah I read a lot about ops on wso but heard some success stories. Considering I would be in the main hub in nyc I thought my chances to interact with f/o would be higher oppose to offices elsewhere.

Aug 21, 2018

This is coming from someone that worked in ops before finally breaking into IB after 2 long years so I hope that carries some weight.

The ops crowd is treated a lot differently than people that work in an actual finance positions that are looking to lateral. You are pretty much doing useless systems work that doesn't require any thinking whatsoever while being miserable because if you have FO aspiration, then you know that you are wasting your time.

Also, at least with the JPM internship it sounds like you are getting some finance experience. That will be a lot better signal for competence than what you are doing at GS.

Aug 18, 2018

Thank you for the insight, your response holds so much weight. Yeah I read a lot on these forums that the work can be mind numbing as it's so repetitive. I guess the way I thought about it was it can lead to an s&t role (sales) or maybe a cap markets origination role down the line( after possibly a msf). Considering GS whole culture of grooming from within I thought it would be a possibility.

If you don't mind could you elaborate on how you went from ops to IB? On these forums I read some success stories into s&t but not so much IB.

Most Helpful
Aug 21, 2018

d

Aug 21, 2018

I can offer GF&BM insight. Let me know what location you've been accepted in and any other questions you may have.

Aug 18, 2018

Thanks for the reply! I have been accepted into nyc area but no specific office yet as they told me I would find that out next year.

In terms of questions:

  1. How did the experience go for you?
  2. I found little information about this program but from my understanding financial analysis and bus management are the better of the 4 choices. Where have individuals you met gone on to doing from these roles? For example does financial analysis mean after you finish your internship / rotation you end up in treasury or ?
  3. They mentioned overtime pay rate over the phone when I got the offer. How often is overtime available ?
  4. Lastly do you recommend the program? Any bits of advice or tips as someone who has gone through it? What are you currently doing now at JP?
Aug 21, 2018

Hey,

Yes there are multiple offices in NY (Park Ave, Chase Metro Building, etc) and you will likely be in one of those (obviously for networking reasons Park Ave would be ideal but you won't really get much of a say).

  1. I would argue Financial Analysis is the best area to be placed in, followed by bus mgmt and controller (Controllers will likely do far more excel work but it is far from the modeling that people on this forum talk about... mostly just grunt excel work reconciling numbers. This was not an area of interest to me and luckily I was placed in Fin Analysis for my internship and now my first rotation full time. (Though not in NY). Again, being selected for the roles comes down to a sort of pseudo "draft". Based on preferences you're put into categories and then you are placed / managers pick you based on resume.

Most of the Financial Analysis teams are more Chase oriented by virtue that the business requires more FA (different credit cards / auto lending / regulatory analysis for stress testing, etc). Almost all of the roles on the JPM private bank side will be controllers (reconciling trades that our traders in London make, whether that be for credit trading / equities / derivative / etc. If your goal is to network onto an S&T FO team then this probably isn't the program to take (with regulations we really aren't allowed to prop trade / trade at all for profit... all of our S&T teams positions are solely for hedging). While it isn't ideal for moving into S&T, if your only options are FADP and Goldman Operations then I'd argue JPMC is still the better option. (Operations really does fuck any perception anyone has of you).

  1. Overtime pay rate is a thing... They like to keep overtime to a minimum and no weekend work. Clocking overtime is something you'll have to discuss with your manager. If they make you work too much (unjustified) overtime then they get in trouble with their managers. I generally clocked about 45-50 hours (sometimes we have networking sessions with involving traveling to places... sucks time out of the day so the following day I might work longer hours to catch up on work).
  2. I'd recommend the program. Obviously if you get an offer at, for example, a MM IB firm or prop trading shop then based on your original post I'd recommend taking that since the experience will be more applicable (something I've learned is ALWAYS go with the experience... Sure Goldman and JPMC are recognizable names but that'll only get you so far in this industry... someone will realize you were in OpEx or a controller and then the weight of the name means jack shit... compared to applicable boutique / mm experience that you can talk about / build on.

At the end of the day if these are your only two offers (and don't worry about that... its an internship and you have plenty of time to decide if you like this / want to gun for a FO role next year) then I'd recommend GFBM over Goldman ops. If you want to know what I do more in depth shoot me a PM. I'm in the program currently doing my first rotation in Financial Analysis.

    • 2
Feb 9, 2019

Hi, you said you know about the GF&BM role. I have been offered full-time analyst role. So is the role is a proper back office and can we switch to a better profile with good performance.

Apr 13, 2019

Interested as well.

Angel Checks provides background screening services for both Individuals and Corporate. We provide Pre - Employment Background Screening, Post Employment Background Screening, Business Screening.