JPM vs EB?
I recently secured an offer from JPM for a SA analyst role. I am anticipating this offer to amount to a FT offer after that summer.
I haven't worked in an IB yet, so I don't know what coverage or product group I will end up taking on. That said, I am wondering if I should try to leverage this offer into a super day/offer from an EB such as Evercore/Lazard/PW. What coverage/product groups at JPM would be better than, or more or less the same as, an analyst role at an EB – in terms of pay and prestige/exit opps?
I eventually want to go into PE and grad school for an MBA.
Open to all opinions. Thanks for all the help so far, WSO!
I’d try to leverage the JPM offer for a superday at Evercore, Lazard, PJT or Centerview if you’re interested in PE exit opps. If you have any negotiating leverage on groups at JPM, the top ones are M&A, Sponsors, Healthcare and C&R. I’d take Evercore over all of those groups though.
Otherwise if you get an offer at one of those EBs I’d take it and not look back - JPM group placement is such a toss-up (you can easily get placed in DCM, ECM, or Real Estate).
Centerview doesn't particularly appeal b/c of it's 3-year program. Isn't restructuring the only thing that is worth it at PJT? I'm sure there M&A is good, but aren't they primarily known for restructuring? Restructuring is beyond me at this point, and when I went to their info session, they were all douchebags
Is placement based more on a "courting" process at JPM? Like do you have to win over the people in, say, M&A to get into it?
ihackapple7 It is a courting process, but honestly HR gets the final say (as hard as that is to believe). You have a reasonable chance of getting one of the groups you like, but It is more or less a toss-up. Either way, you would be dumb to turn down this JPM offer, but I would try and leverage it if you have contacts at the EBs.
Went through recruitment cycle recently but didn't get the offer. I think PJT pitch has always been that, following spin-off, all restructuring bankers and park hill people remain at the firm -> 2 top franchises intact.
Taubman purged M&A and rebuilt with a lot of new hires of formal group heads and division heads. They should be doing well.
Certainly all the other ones place, but Centerview with PE exit opps? They screen really hard to filter out people looking to do "two and out" and have pretty effective clawbacks in place for anyone who tries to leave. Also, just generally seems to be self-selecting pool for people who want to do banking long term.
Also can I ask where you got your JPM group info from?
If by JPM group info, you mean what I said in comments above, I got that from just reading other posts on WSO.
From reading other posts, sponsors places well. You're saying sponsors sucks for exit opps? Is that a recent development?
JPM SA's have been placed in groups already. Are you going into IB?
Yea, this is for summer 2019
holy shit
Nice congrats. I echo what Johnwalker said
on campus superday?
If you can interview before your offer explodes, do it, otherwise you still landed at a top shop.
Also interested in this question. I'm in the exact opposite position from OP - have outstanding offers from a couple top EBs and considering whether it is 'worth it' to leverage these into getting offers at JPM/GS/MS or not.
I guess my question boils down to - would you rather take a general GS/JPM/MS offer and have a tossup in terms of group placement or go to a top EB (PJT, Evercore, Centerview, Lazard)? Would appreciate any advice
Update: I stuck with the JPM offer for a few simple reasons. Excited to work there next summer! Also, if anyone has suggestions on how to get first pick at a specific group that'd be great Edit: typo
Would you mind sharing the reasons why you chose a top BB over an EB, since a lot of people are curious and are making that decision? Either here or in PMs.
Sure. (1) The interview process was happening near the end of the spring semester, so even getting through with JPM alone was time-consuming in terms of prep. (2) Creating more work, stress, and the possibility of exerting myself with no success by trying to leverage it into merely an interview seemed silly. (3) I told myself to shut tf up and stop being so greedy: this is no second tier or underdog firm; this is a BB so this was not the same complacency as settling on like greenhill. (4) I want to be part of a massive corporation at some point in my life b/c im curious as to how it works, what that name can do for me on my cv, and how many connects I can gain from it. So, why not accept take this now? I will eventually want to see the benefits of working at a smaller scale but elite shop, so when that opportunity falls in my lap, I'll take it. That said, the next goal is blackstone, bain, or something related
What if I had gotten an Evercore offer instead? The same logic applies - I would've taken that right away, too. In other words, don't be afraid of taking what you got rather than trying to leverage it into something else. If you did get both, then you'd have to pick one, you'd be pulling your hair out, and possibly later be wondering what if....
Edit: freaking typos
The boutique will probably provide a better route to PE in comparison with JPM. But I think JPM would be better to have on your resume in the long term. A bigger more known bulge bracket compared to the boutique that might end up like Greenhill (no offence).
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