JPM or KPMG
Hey guys,
I got offers from offers from KPMG (Advisory Associate for IT Audit and Assurance practice in Short Hills NJ) and JP Morgan (data analyst for the internal audit group in New York). I want a job that will help me learn and grow, both are almost the exact same offers in terms of salary. So I was wondering if I could get any advice in terms of where I can learn, grow and be valued and in two years time if I wanted to move to a different company which company will have a better name value on my resume? I did a lot of research and it seems like JPM has the better name but KPMG has the better training program and experience in terms of learning the industry.
Thank you.
Hello Asif,
I just left one of the Big 4 in the same role your asking about. One thing I will say is that the IT audit role is a good place to start but it will severely pigeon hole you fast if you spend more than a year there.
Out of the offers you have I would probably go with the JPM offer because it puts you in the networking capital of the US. This will be beneficial in case you want to switch careers since you will be able to visit people on your lunch break.
The biggest question though is what exactly are you looking to do long term? If it is FO IBD, then both positions will put you waay behind. But if you want to be a higher up at a F500 in their Accounting/Finance Dept, then the KPMG gig would be the ideal start.
Ping me with any other questions you may have.
Best regards
Hey John,
I have been talking to a lot of people and they say it depends on what I want to do in the future. So I like data analysis but I also like interacting with clients or people in general and in data analysis you barely interact with them. So in general what would be a better career path for the future,
Thank you,
The Big 4 have data teams. Have you considered that route? Many large corporations also have data groups which work cross-functionally with a lot of areas or are integrated into business intelligence. Those groups interact with many more people than the ones who are simply pulling down data and disseminating it.
If you want to work in Financial Services, JPM would be the way to go and you can build your career from there. If you'd like to be in a different industry, I'd go KPMG and try to switch to their data and analytics practice after a year or two. That would position you to be in a role working with data and clients.
JPM or KPMG (NY) (Originally Posted: 03/10/2016)
Which would you accept - JP Morgan Treasury Services or KPMG FM Advisory? Both are based in NY.
Considering: overall comp, career trajectory, hours, exit ops, prestige, everything.
I would go with JPM. Treasury work can be interesting, especially if there is a capital market component. What exactly is your role?
JPM is a high-caliber organization led by a high-power celebrity-status CEO Jamie Dimon and you get exposure to different kinds of products / service JPM provides. Hours can be rough: it's a big bureaucratic bank. Exit ops: I don't know what treasury exits to. Comp: probably higher than KPMG, big 4 comp is so so.
FM advisory seems op stuff. KPMG is not as prestigious. Hours are probably better but that's heavily project-dependent (if you get on an engagement working for JPM, then hours are bad, see above). Exit op: work at JPM doing similar stuff.
I feel like I've seen this before, but here's a simple rule: Big 4 over Back office. JPM Treasury is a back office function, don't be fooled just because it's JPM.
Overall comp - I'd imagine that you'll get a much larger bonus with KPMG because it's consulting. JPM you'll probably get a raise and some bonus every year as long as the bank is doing well, but at KPMG it's likely more performance based.
Career trajectory- This all depends on what you want to do, but consulting can lead to PE/VC and business school. It's been seen many times. In Treasury, maybe you could move up and become a CFO of a small company at some point with a CPA? I'm not sure. Definitely more optionality with KPMG for what its worth.
Hours (and travel) - JPM is going to be a 9-5, KPMG could be a 9-7 or worse depending on your projects. That, and if you go to KPMG you will definitely be traveling more as well. JPM you'll be in the office at your cube.
Exit opps- Consulting feeds well into top b schools depending on GMAT, recs, and some other thing. JPM can get you there as well, but you likely won't get any PE/VC opportunities without going to B school from JPM (if at all). I'd say its possible to make the jump from KPMG, though very difficult.
Prestige- Again, Big 4 over back office. Being in a client facing role is everything. Internal roles can be valuable too (i.e. corporate dev), but interacting with clients actually makes you stand out alot more when it comes to future opportunities.
One thing to keep in mind is that Treasury Analysts at JPM go to the IB training program, along with all of the IB and Corporate Banking Analysts. This could be a great opportunity for you to network and learn financial modeling skills--if you are interested in lateraling into IB, this would be invaluable (and a huge advantage over the KPMG gig). JPM tends to promote internal mobility, so if you wanted IB but didn't quite make it, this could be a second chance (although it would still be tough).
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