Some people are telling me that despite the fact that JPM seems to get thrown in with GS and MS as one of the elite BB investment banks that it doesn't place as well into PE. So, how would a top coverage group at JPM such as TMT, Healthcare, or FIG compare with its peers at GS/MS in terms of exit opps.
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What SonnyZH said.
JPM Healthcare is one of the top coverage groups for healthcare, I can tell you that.
I just wish these kind of questions just stopped being asked......
OT: I think it's hard for anyone to know this. How many roads must a man walk down...?
JPM should get thrown in with MS and GS as elite BB. Even if you are a part of a group that doesn't attract top PE firms, you still can network on your own and get to know the right MDs or school alums to get you in touch with PE shops. If you go into a group and exhibit good analyst skills, you will get noticed.
IMO, JPM is not as strong generally as MS and GS when it comes to M&A (there are exceptions), as an overall service focus. JPM is on par (possibly better) in capital markets, depending on the group.
But, M&A and LevFin are most relevant to PE.
Simply talking from a perception standpoint.
headhunters view it as such: a student with generalist (not group specific) offers with GS and MS will very likely take GS. a student with generalist offers with MS and JPM will take MS. obviously group specific situations make it more complicated but in general GS > MS > JPM and to say JPM is is viewed on the same level is false.
As a recruit in the game right now,
I think the stack has shifted: GS > JPM > MS. One thing is clear, those 3 >>>>> everyone else.
so wtf do you do if you're at citi/db/barc/baml/cs and not at an absolute top group (i.e. not M&A in those firms) but at a decent group?
sjerry, what makes you say that?
General gossip-based sentiment (good rumors about bonus numbers, tops/near tops in league tables vs layoffs (especially of people who recruited us in the fall) and overall shift back to "my morgan stanley guy" AM business model) and specific group preference (M&A, Levfin, healthcare vs who knows)
Tough to say anything specific since no one I know got offers at both and had the choice.
.
unknown joe: something that specific is just gonna be case by case, most don't have offers from all three so it hardly matters, i was just describing the general sentiment on "elite-ness" during OCR. The few with the choice of GS and MS or JP, regardless of what groups they seemed interested in beforehand, or what their post banking dreams were (which involved the skillset they would gain in whatever group), wound up choosing GS.
thankyoucomeagain: not sure what you are asking. if you are at one of those banks, you thank your lucky stars you have a job and move on.
GS, JPM, MS best for launching career? (Originally Posted: 12/21/2012)
I've heard that GS, JPM, and MS are the best banks for initial ibanking and finance training. Is this really true, and how if so? Or do people just think these three banks are best since they are the most well-known?
im asking what kind of pe exit opps are you going to get? people here are saying jpm/ms/gs >>>> other bb's so what's the deal?
At the end of the day, you'll be happy just to have a job that pays you.
These banks are considered best because they get a lot of deals, so if you work in their teams you will probably be working for really high-profile companies and big deals. They're also really well-paid and you get a lot of intelligent people working there so you can learn a lot. I would say they're among the best and there are around 5-6 other really good banks for initial ibanking training as well: Citi, UBS, Credit Suisse, BoAML, Nomura, Barclays Capital and possibly a couple more. But GS, JPM and MS are probably the best, because it's also really hard to get into them and they have a very good reputation. Good luck if you're thinking of applying because the competition for entry into these banks is really tough!
Pardon my ignorance, but what's Nomura?
Big Japanese investment bank. It acquired some Lehman Brothers operations in '08. It has a pretty big presence and has a good number of deals. All other banks cited are either from US, UK or Switzerland. I forgot HSBC which also has a good presence in emerging markets. Also RBC, canadian investment bank is not bad. There are a few good banks to start to. I would say any bank in the top 20 in the number and value of IB deals globally is good place to start.
GS or gtfo
so dumb. any BB, large MM, or elite boutique are all the similar in training. The recruiting process is pretty random, and anyone who thinks JPM, MS, or GS are the best in training or whatever either aren't in the industry or work for one of them. i know some extremely bright guys are small boutiques and airheads at the "top 3"... in regards to headhunters and such for PE, etc, maybe the "top 3" have a leg up, but basically, that's because headhunters aren't in the industry (at least 90% never were)..
How did the posts somehow gravitate towards training? Saint2009's questions had to do with launching a career; good training isn't going to help you "launch" your career; I could sit in a dimly-lit room in my Mom's basement and model, read, and basically become a self-promoted fucking Phd in banking, but it's probably bot going to get me to KKR or Carlyle, is it?
Is the original post even a serious question? It pains me to think that someone is actually sitting around thinking hard about whether Goldman Sachs- or Morgan Stanley would be a good place from which to launch their finance career.
What is MS and JPM? There is only one
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