J.P. Morgan vs. Goldman Sachs

I got offers for both JP Morgan and Goldman Sachs internships. I'm not really planning on going into finance I just want a gold star from a top company on my resume for law school applications. If the take the JP Morgan offer the pay is more, they pay time and a half for overtime, I have a signing bonus, I do not have to move to another state. For Goldman Sachs I have to move to Utah, the cost of living there is less, which makes the pay less, overtime is half of regular hours, instead of a signing bonus I have a relocating stipend to help pay for my apartment and airfare. The signing bonus /relocating stipend are equal for both companies.

Overall the pay is much better for JPM. However, I think that GS would look better on my resume for law school. I also like the culture at GS better since they focus a lot on gender equality. I am not planning on working there in the future but if I did I would want a company that I could relocate to NY. Which one would you pick?


 

GS. I summered in GS junior year summer and it has done tremendous for me in the professional world. I received around 20 full time job interviews and turned most of them down after committing to a firm (not GS). The name speaks for itself.

 

Very difficult decision to make, but still good position to be in.

Btw, I heard that starting next year, GS analysts are getting a sick raise. Would choose them if true.

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
 

This really depends on what GS is willing to give you. Their FICC department has been going through a rough patch (at least until recently) and there are plenty of fixed income products where their market share is lower than JPMs. But as Marcellus Wallace said, if you can get directly on a desk you want to join, that is gold. Just note that the interview process at GS outside of normal recruiting can take a very, very long time. Stall on the JPM offer as long as you can and make the people at GS know in interviews that you are sitting on that offer. If your rapport with them is good enough and a particular desk likes you, things could work out.

 

Did you like your desk during your internship? If you did, stick with JPM. Contrary to belief on here, in SnT prestige means jack shit; product is the trump card and whether you have a book.

JPM is a great shop so don't burn that bridge for an interview.

 
azzyyyyy:

I interned at JP this summer and received a FT offer. However, have some good connections at GS who want me to interview FT with their group.

Based on the current status of FICC across the board (I would want to trade within FICC), which is a better choice? Also considering culture, pay, exit opps etc, should i sign the JP offer or explore FT interviews at GS?

Also keep in mind that I loved working at JP and have some people who helped me get there, who may potentially be disappointed if I leave. I'm thinking i know what kind of answers i will get in this thread but am wondering if there are any game-changers that I'm not aware of.

If you have such good connections at GS, where were they when you needed an internship a year ago?

 

Virtually all M&A modeling is done within coverage at GS. At JP, it depends largely on group, where M&A and coverage may share responsibility over the model or not at all.

Outside of the prestige advantage, that's a huge plus for GS.

The only three groups I might even consider at JP head to head are M&A, LevFin/Sponsors, and maybe Healthcare.

 

You worry way too much. That's like asking whether a Lamborghini or a Ferrari is better or asking whether Kate Upton or Faye Reagan is hotter. If you get an offer just go with it. If you get two offers save yourself time and flip a coin.

Jim Carrey heart mask gif

 

Best part about GS is that when you're talking up a smoke, and you tell her what you do... they can't say, "No way.. I go there all the time to cash my $274.45 paycheck every week. Everyone there is so nice!!!"

-Gramm Leach Bliley... Cockblock since 1999

 

GS. You'll get paid more than JPM (at least from what I've seen in terms of analyst bonuses recently), get pretty much consistently better exits out of any group, have a name that carries more weight on your resume, a nicer building, and the instant ability to make any insecure individual at a rival sell-side firm except Blackstone envious of your position.

I am permanently behind on PMs, it's not personal.
 

I would agree, I imagine in the following years we will see GS compensation begin to decrease (unless this compensation thing is not taken seriously). Then again, if other banks take this measure, their compensation would probably decrease as well.

 

Does anyone actually have any info on GS vs. JPM in London? I'm pretty sure there's no separate M&A team at JPM there, so I would imagine that all modelling is done in coverage groups (or maybe country ones); at the same time GS only has 2 industry teams in M&A in London (FIG / NR) and a generalist pool for everything else. Also, how good are JPM TMT / DI in London in terms of experience and exit opps?

 

GS, JPM, MS, BoA, who cares? Just try to get into one of these banks first. Stop with the crap investment bank/retail bank. JPM is only a retail bank in the US.

 

Hey RiMan9, I'm the WSO Monkey Bot and I'm here since nobody responded to your thread! Bummer...could just be time of day or unlucky (or the question/topci is too vague or too specific). Maybe one of these topics will help:

If we're lucky, the following pros may have something to say: Luxo ning vicrook1

Fingers crossed that one of those helps you.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Thanks for the reply! I have a very quantitative background; I'm double majoring in engineering and mathematics at a highly ranked engineering school. I'm also fascinated with the more macroeconomic character of fixed income in general. With this skill set and set of interests, I think my background is best suited to this area of work. The location is NYC.

 

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"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

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