Having trouble choosing between these two. No idea about group assignments. Anyone have any opinions or insights?
Choose based on people
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I'd go with JPM based on my interactions with a very small number of people that I have met at each place.
JPM is #1 in ECM & DCM at the moment, & #2 in M&A.
MS is #2 in ECM
Not sure if this has changed, but a few years ago a generalist offer at JPM could land you in Capital Markets or Coverage / M&A. If that's the case, definitely MS.
Otherwise it's a tough call, but I would say in coverage you'll do more advisory work at MS vs balance sheet / financing. Both great shops.
SA Decision Help - JPM or MS (Originally Posted: 03/04/2011)
SA decision help
Private banking summer analyst position for JP Morgan in Philadelphia.
Securities lending rotational program at Morgan Stanley. Rotate desks for risk arbitrage, sales and marketing, equities, and fixed income (more specifically repo trading)?
Morgan Stanley compensates a little higher and is in the NYC which I believe is more attractive.
Any thoughts on culture or better area of finance to start a career in?
-Thanks for the input
Between those two choices, I'd take the MS offer. The rotational program is quite attractive - get some general exposure across different groups and have an understanding of how the work is different, and determine if any of them are right for you. Also NYC >>> Philly.
On culture, based on friends' responses from both banks, JPM is probably a 'nicer' place to work. The people I've met at JPM (across various groups) were pretty cool. With MS, I would say it's a mixed bag (know some really good people, and have also met 1-2 I wouldn't want to work with).
The securities rotational program will probably open more doors for you than private banking, so as much as I love JPM, in this case I'd go with the MS offer. Both are great names, and a lot of people would even rank MS above JPM in terms of prestige. And you're right, that 'New York, New York' on your resume does look good.
Congrats on the offers
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MS sounds a lot better unless you have your heart set on private banking, which can be a cush gig (I've seen it) IF you have the Rolodex. If you are the average dude, however, MS is the way.
I would go with MS. Securities lending is much more fast paced then private banking.
friend did SA gig at JP Morgan Private Banking and then got a FT offer from Jefferies IBD.
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