JPM Commercial Banking Info

I have a campus recruiter interview for JPM Commercial banking. Could anyone offer advice on what I should prepare for? I would appreciate it very much

Ive searched the boards and have gotten some information about the division but just would like more insight / possible finance interview questions.

Thank you for your time.

 

I have not gone through an interview b4 but some friends have...

This is what they tell me

It's mostly all behavioral-- most of them get 1 or 2 technical question.

One of them, got both technical question wrong and still got the internship offer...

 
Jongunawan:
Thanks a bunch,

Any specific questions you guys recall, if its not asking too much.

I was selected as an alternate interview so im really going to have to shine

I got a email from saying you got a private question for me, but my inbox is empty. How do I access your mail?

 
jddl:
Jongunawan:
Thanks a bunch,

Any specific questions you guys recall, if its not asking too much.

I was selected as an alternate interview so im really going to have to shine

I got a email from saying you got a private question for me, but my inbox is empty. How do I access your mail?

Hmm, thats weird, I tried sending you another. Was asking if you recalled any specifics for the technicals / behaviorals.

Thanks

 

I would try and convey how much you want the position and how you feel like a foundation in commercial banking is a great beginning. Half of the kids who got interviews are probably just using it as a safety and wont except unless all else falls through.

 

Appreciate it Anthony

Ive read through the boards about it and they call it a poor mans IB / boring work, but because of my situation (semi-low GPA / Non-Target / Lack of Interviews) It is still something that I want to put effort into

To clarify , for example: For an IB interview I could express that I like a team setting / working on a transaction , great learning curve.

Any thoughts on what would be desirable for this position?

 

Which financial statement would you want to look at if you can only see one and why?

Sorry I can only remember one of them since this was a while back. But the others are very basic, like this one. Nothing too hard.

Good Luck.

 

I don't come from a target school and my gpa (3.42) and credentials aren't up there enough to get those interviews, so im taking it one step at a time

Any more info would be great.

 
Jongunawan:
I don't come from a target school and my gpa (3.42) and credentials aren't up there enough to get those interviews, so im taking it one step at a time

Any more info would be great.

I would say this. If IB is what you ultimately want to do you should look at smaller boutique bank, reach out to alumni, randomly hit up people on LinkedIn, etc. Not saying don't do JPM CB, but you might be underestimating your ability to break into IB right now vs 4-5 years in the future.

 

I'm kind of curious though if commercial banking is as bad as people on this board make it out to be. Yeah, i-banking/ER/trading are clearly superior and will probably get you into a top MBA and better salary, but frankly, those aren't options for everyone straight out of undergrad.

Furthermore, maybe HSW mostly want bankers/consultants and you may not get in there, but what about other very solid schools like Dartmouth, Yale, etc.? Are they really going to immediately look down upon you because you don't work in Goldman M&A and instead started in commercial lending/credit analysis?

Also, I want to bump for answers to this question:

"To clarify , for example: For an IB interview I could express that I like a team setting / working on a transaction , great learning curve.

Any thoughts on what would be desirable for this position?"

 
Best Response
ibankingreject:
I'm kind of curious though if commercial banking is as bad as people on this board make it out to be. Yeah, i-banking/ER/trading are clearly superior and will probably get you into a top MBA and better salary, but frankly, those aren't options for everyone straight out of undergrad.

Furthermore, maybe HSW mostly want bankers/consultants and you may not get in there, but what about other very solid schools like Dartmouth, Yale, etc.? Are they really going to immediately look down upon you because you don't work in Goldman M&A and instead started in commercial lending/credit analysis?

Commercial/Corporate banking can be lucrative and interesting, but it is going to more along the lines of corporate finance. I think it is a fine career, but given the option many people would rather go into IB/AM/S&T, etc. If you went to HBS, Wharton, Princeton, etc you have amazing opportunities to achieve these prized positions. Commercial banking would love to have a Princeton kid doing credit analysis, but they aren't going to pay a premium for the Princeton kid to do it when they can get a Wake Forest or whatever school kid to do it. Pretty much comes down to ROI.

 

I know someone who has done JPM Commercial Banking and has described it to me, albeit the view might be slightly skewed.

The individual described it as investment banking for companies with annual revenues in the $200mm to $2bn range. When pressed further, it sounded as if the services provided actually extend much further beyond traditional i-banking. It also sounded as if in some sense they function as a linkage/ handler for these companies in communicating with other areas of the bank that specialize in the particular service the company is seeking.

It also sounded as if commercial banking had a much better culture and certainly much better hours than IBD (e.g. out by 9pm everyday latest and no weekends).

Pros:

  1. Exposure to a variety of areas of the bank in terms of the opportunity to work on projects involving a variety of the products and services the bank offers.

  2. Much better hours.

Cons:

  1. Somewhat lower pay at junior levels and substantially lower pay at senior levels (e.g. the rainmaker in IBD is making more than the rainmaker in commercial).

  2. Not as much specialization/ as firm of a grasp of the skillset as in IBD.

  3. Less prestigious in terms of exit opportunities.

 

Not sure if your interview is over or not, but I just went through two for JPM this week. Both SA positions, one for mid corp and another for middle market. Middle market was basic, tell me about yourself followed by "if you only had one financial statement to look at for a business". Mid corp was a little more detailed, know how financial statements work together and which line items for one statement influence those on another. Ex Income vs Cash Flow; Income vs balance sheet.

I have OPS SA interview next week, expecting the same stuff. Sorry for the non IB talk, but us non targets have to grind before we shine sometimes... lol

 

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