SA offer choice: JPM S&T vs. CS S&T Fixed Income

ricebun's picture
Rank: Chimp | 12

Hey Guys,

I started to seriously think about a sales and trading career basically four months ago, and this forum definitely helped me prepare well for the interviews. I got several offers and now I am deciding between JPM S&T and CS S&T Fixed Income. I would appreciate any advice/tips/past experience on this decision. In particular, I am wondering whether someone can answer any of the following:

  1. Does anyone know the nature of the JPM program? Is it rotational and do you have a say on the placement preference? One really good thing about the CS program is that it is a 3 3-week rotational program, and the intern's preference is taken into consideration.
  2. In terms in prestige, which one has better name for S&T ? I know that everyone says for S&T there is no ranking and it really depends on products and desks. However, as I have no idea which desk I want to be, I want to know the general S&T strength of these two banks.
  3. Do people have past stats on % of SA that received FT offer in each of the two banks? HR's are reluctant to give out such info. I heard contradictory info on both said. Some said CS had a very bad rate last year, (6 out of 11), but some said it is actually 16 out of 20... I heard something similar regarding JPM's program.
  4. At the end of the day, how much should I put "firm culture" into consideration? Everyone says CS is warm and friendly and chill, and I do think all my superday interviewers at CS are super super nice human beings. But how much does it matter to a entry-level person? I mean, as a trader or salesperson, your MD probably can't screw you up as hard as they do in IBD, right?

I would like to thank in advance for any input!

Comments (5)

Feb 20, 2010

Do you know for which desk you will be in for JPM?

CS has a great culture, warm and friendly, and most importantly CS is good in Fixed Income and Algo trading. From the way it looks, the 3 3 weeks rotational might go good or bad; good - you can build networks and explore ur opps, bad - its quite hard to make a very strong impression as well as getting a good in-depth experience.. I have a friend who did similar program and it was a good experience for him both work and networking wise (he chose to do a longer rotational with the direct head of FICC, just to strengthen his network..)

JPM has a very good strong name and, and in terms of prestige, it will be JPM >>> CS. I'm not really sure about JPM's strength in S&T or its SA program. I'm quite sure JPM has a very strong Sales team as compared to CS.

Just my 2 cents worth, if you want to do Fixed Income then go to CS. If you aren't sure, JPM. and you should have probably had a chat/interview with the respective heads and team members, so overall you probably know who you will want to work with

Feb 20, 2010

isic06, thanks for the comments. I have no idea which desk I will be at for JPM, I probably will find out more next week, although I am pretty sure it is going to be a trading position. What's your opinion on this: for SA, which more is more important, brand name or desk?

Feb 20, 2010

I disagree with the above. I've always been under the impression that the strongest banks in FICC were GS, barcap, Citi, DB and JPM. CS isn't as strong as the aforementioned 5 in FICC.

But what do I know ... I'm still in university,

Feb 20, 2010

Thanks Brown_Bateman. I am wondering where you found all these information. Like, is there a ranking of "the strongest banks in FICC".... I tried to google search it and found contraditorcy info.

Feb 20, 2010