What are the best groups for JPM?

Intro
I am an incoming IBD summer analyst for JP Morgan. HR said that group placement will be announced in March, so I am trying to narrow down my top choices.

Two Questions
1. Which groups provide the best experience? I heard that Healthcare, M&A, FSG, FIG, DI, and T/MT are the best so far, but I would like to hear the forum's opinions.

  1. How important is networking for placement into these top groups? (I go to a non-target)

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Comments (63)

Jan 25, 2018 - 12:59pm

Hi LBOwned, any of these discussions helpful:

No promises, but thought I'd mention a few relevant users that work in the industry: AlexKom Pradeep1986 Lei-Zhao1

I hope those threads give you a bit more insight.

Jan 30, 2018 - 4:41pm

The groups you named are great.

You're an incoming summer analyst - no one cares that you went to a nontarget now. It's a level playing field. That being said, networking is still important if you want the group to push for you, just doesnt matter where you went to school anymore

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Jan 31, 2018 - 9:40am

I wouldn't really know about culture -- had a buddy in LevFin who enjoyed the culture for the most part and said they had really solid exits (among those groups).

LevFin/M&A/healthcare all probably work the hardest due to deal flow, but have really solid exits. The only better M&A team on the street is MS, JPM LF is in-line w/ BAML for top on the street. Healthcare is constantly in the news advising on lots of deals.

TMT, FIG, DI are all great cultures as well, exits are slightly less so I'd imagine but definitely do-able.

Dk #'s on FT rate.

Jan 31, 2018 - 6:14pm

For Europe, JPM's DI, TMT, FIG, and C&R groups tend to be very strong. Many people from these groups exited to major funds such as KKR, Apollo, or Warburg in recent years. However, I can assure you that there is somewhat flexibility to move to another team if you receive an offer from the group you interned with. I know one guy who interned in ECM and then received an offer to join the TMT team full-time. Try to get your first-choice and if that does not work out just make sure you perform well. Good luck!

Feb 2, 2018 - 2:57am

I hear LevFin and FIG are their top groups. With LevFin having an awesome/fratty culture and FIG being super intense. Also read in previous threads their C&R group is top-notch too, along with the rest you mentioned.

Best Response
Feb 28, 2018 - 1:59pm

The first thing to understand: the "best" group is the group where you will succeed. It's better to be a top bucket analyst in something that isn't sexy like Real Estate and Lodging than be bottom-bucket in TMT. Culture is crucial here, as is your skillset and interest in the sector or product the group engages with.

That being said and while most of the groups at JPM are obviously solid in terms of deal flow and street reputation, I would personally say HC, C&R, LevFin and TMT are the strongest. All of those are top 2 and have absurd deal flow, and some really smart and committed people. HC is a bit of a sweatshop, but tbh all of JPM is a bit of sweatshop so that shoudn't turn you off. LevFin will develop your credit skillset, but it's modeling heavy relative to the other groups.

The FIG group is definitely the strongest on the street but it's FIG. That's an entirely different world with different analysis being done, different skillset, etc. If you want FIG, then by all means go for it, but it's unique. FIG at JPM is also one of the worst groups culture-wise on the street. Know one or two MDs there who are some of the biggest assholes I have met in banking. Sponsors is oddly pretty weak at JPM actually and sponsors groups are sort of looked down upon because they basically just do bitch work on transactions for PE shops, and all the serious stuff is typically done by the financing teams since the strategic thinking is being done by the sponsor themselves. M&A is obviously also quite prestigious and good at JPM but everyone wants M&A so I'll just let you know that your chances of sliding in there are much lower than other groups you might want.

Feb 28, 2018 - 2:40pm

Yeah they're strong for sure. Right up there with BAML for the top spot in my opinion. Good group culture, very laid back and down to earth. If that's something you're interested in, then definitely a great choice.

Mar 1, 2018 - 2:03pm

That's good to know; I just had a really bad interaction with one during recruiting back in the day and one of my buddies works there and has introduced me to a couple of guys who take themselves too seriously. But obviously sample size is small, so not to say that there aren't some good guys in the group.

May 3, 2018 - 12:12pm

Bonuses in S&T are the same as in banking the first 1-3 years. Med and avg are probably the same that is, with higher variance in S&T. Also depends on your group, at least after the first year. Also, don't get too excited about the hours. S&T has shorter hours overall, but they can get long depending on the group. The more structured the product, the longer the hours. In general, struturers work the longest hours, then sales, then trading. That said, your first year or two you'll work longer hours regardless. I know a good number of people in S&T who work one or more weekends a month, and lots of long days.

Mar 5, 2018 - 7:35pm

I was under the impression that LevFin at JPM was not very modeling heavy, can you confirm this is not the case? Is all of the LevFin team in NY or do they have members in other cities (Chicago, San Fran etc.)

Mar 12, 2018 - 10:07am

That's correct. I work in one of the LevFin groups and we do not do modeling much. However the group still has the best deal flow on the street and you develop a very strong credit skill set. The vast majority of LevFin is in NY but I know for sure there are teams in Chicago and Florida/Atlanta, not sure where else. Also worth noting the group has great hours compared to many others.

Mar 8, 2018 - 9:16pm

This is the most accurate answer. I feel compelled to elaborate on FIG. I have some absolutely absurd horror stories from multiple first hand stories. Avoid at all costs. They will try to lure you in by pointing at MF placement (and to be fair they have pretty great placement), but you can find that elsewhere at JPM. The culture in this group is poison.

May 3, 2018 - 12:17pm

JPM innovated a tremendous number of now standard products. for credit trading i'd put it up against anyone.

May 3, 2018 - 12:19pm

structured credit is part of credit....i stand by my statement here...JPM invented a ton of what's now standard.

do you have a offer?

May 3, 2018 - 12:21pm

let's redirect here...what sort of things are you interested in? forget prestige.

May 3, 2018 - 12:24pm

in what desk would you find the most sales-trader? I guess I'm asking which trade desk has more interaction with the clients.

May 3, 2018 - 12:27pm

Sales traders are not equities only......

As for JP's position it's much more subjective than that - depending on the area you're interested in it may well be a small bank with little/no presence in america.

May 3, 2018 - 12:29pm

What desks besides equities have "sales-traders"? I've never been on a trading floor that has that role except on the equities side....

Mar 7, 2018 - 1:28pm

People tend to do best when they truly like their sector. What are you interested in? The expertise you build now will be carried with you for the rest of your career. That doesn't mean you can't pivot later, but you are entering an intense learning environment so try to learn about something that interests you versus focusing on prestige/exit ops.

From a macro perspective healthcare is 20% of our economy and growing with a lot of change (i.e. M&A) to come, and big tech is only getting bigger/more important. Oil & gas is still big now; will it be as prominent in 30 years?

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Mar 7, 2018 - 2:36pm
afroninja26:

Side question: do you actually learn about each industry in the industry groups? Because it seems to me everybody is basing their preferences on culture + exit opps. Excuse me if it sounds like an ignorant question

The people preaching culture and exit ops are most often college students who have no idea what they are talking about. Culture can be important, but every BB group is hard on analysts. Your initial industry focus could drive your entire career trajectory.

That said, I started in a product group (M&A, Financial Sponsors, etc.), moved into tech (although I did several tech deals in my product group) and then switched to healthcare.

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Mar 7, 2018 - 8:19pm
TechBanking:

afroninja26:

Side question: do you actually learn about each industry in the industry groups? Because it seems to me everybody is basing their preferences on culture + exit opps. Excuse me if it sounds like an ignorant question

The people preaching culture and exit ops are most often college students who have no idea what they are talking about. Culture can be important, but every BB group is hard on analysts. Your initial industry focus could drive your entire career trajectory.

That said, I started in a product group (M&A, Financial Sponsors, etc.), moved into tech (although I did several tech deals in my product group) and then switched to healthcare.

And in your healthcare group, are you actually learning about healthcare/putting any past knowledge of healthcare to use? I guess what I'm asking is how different is the work between different industry groups

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