Summer Internship Decision: JPM PB vs D&C ER
Hi everyone! :)
I am a Spanish graduate student attending an Ivy League university in the US (think Wharton/Columbia/Yale) studying finance and economics. I know I want to work in the Buy Side but I am still unsure if I should do AM or PB. I appreciate work/life balance and I would like to work in EU (UK/ Spain/ Switzerland) after graduation.
I have two interesting offers for this summer and both have pros and cons, so I am not sure which one to choose, given that both want me to intern with them on July-August. The positions and characteristics are the following:
- Dodge & Cox - Macroeconomic Research Intern.
- Company: The fund is quite prestigious and the Macro team is composed of Harvard PhDs, so the job should be quite interesting and technical (I like macro).
- Location: San Francisco (but probably will be remote)
- Future prospects: Full-time return offer very unlikely. Additionally, I am European and have preference to work full-time in EU post-graduation.
- Pay: Very high for an internship
- JP Morgan Private Bank - Investment Analyst Intern.
- Company: No need to introduce. JPM PB has a good work/life balance and the job is basically asset allocation and portfolio management for UHNWI (€25M+).
- Location: 1 week in London and rest in Madrid, Spain (on site)
- Future prospects: Full-time return offer likely. They encourage movement between offices so I could also end up working in London or Geneva.
- Pay: Average (high for Spain but low for US)
What do you think is the best option given my profile?
Thanks a lot for your help in advance!
Vamos Rafa!
Mate... it's D&C, that's a rare opportunity.
Based in SF, but you're working remotely? Even better.
Thanks mate! :)
I know D&C is a top opportunity, but I worry it might not be that well known in Europe, which could make it difficult to find a job there next year (post-graduation)?
They've been around since the 1930's. Since the funds are US focused, name recognition is a small risk but how much does that really matter? Not something I'd turn them down for. Also if you can get opportunities at D&C and JPM, you'll do fine for FT recruiting. Believe in yourself.
If you do well over summer I'm sure D&C colleagues will be able to refer you to good European funds for FT recruiting. This happens more often than you think. People that I know there are well connected and afaik the fund takes care of everyone. If I were you I'd try to get to know people who do equity research if that's something you're interested in.
Also UHNW Wealth Management is a totally different beast from macro research. I'd think hard about what it is that you really want to do.
Thanks for your comment! Both roles are quite appealing for me despite their big differences and I'm not really sure what I want to do. I guess I want to keep as many doors open as possible with my choice.
Si tienes muy claro que quieres PB y Madrid adelante con JP. Para todo lo demás, D&C aún sin tener posibilidad de convertir a FT. Siempre vas a poder apalancarlo para conseguir algo en ER o directamente en el buy-side. Saludos!
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