Which JPMorgan group? (IBD, London)

Pax85's picture
Rank: Chimp | 7

Hi everybody!

I've been offered an Autumn Internship at JPMorgan in London and need to make my group choices. I was hoping you could give me some advice.
These are the choices I have (ranked in my order of preference so far):

Advisory (basically M&A) - different groups within Advisory, see below
Advisory FIG
JPM Cazenove
ECM
DCM
Financial Sponsors
Leverage Finance
Ratings Advisory
Structured Finance and Principal Investments
Securitized Products

Also, since Advisory is my top choice, I need to rank the different Advisory groups in order of preference:

Consumer/Retail
TMT
Real Estate
Healthcare
Diversified Industrials and Transport
Natural Resources
Middle-East and North Africa
BeNeLux
Nordic

My main concern is that I want to join a group that is likely to make me a full-time offer. Of course, I also want a group that is traditionally strong at JPM, that will have a good dealflow and good exit ops.
The Advisory teams I'm most interested in are TMT, Consumer/Retail and Industrials and Transport (in no particular order). What do you guys think?
Thanks in advance!

Comments (12)

Aug 2, 2010

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Aug 2, 2010

Um

Do you want to do Benelux, Scandinavia, or MEA? Yeah but no. Strike those from your list. I'd stick away from RE and FIG unless you're absolutely sure you want to work in those groups. HC is very research-intensive.

JPM advisory throughout Europe, as a whole, is fairly weak. Ranks 7th YTD for both buy- and sell-side advisory behind CS, GS, BarCap, and a few others.

Depends on what you want to do though. Obviously JPM LevFin is top of the street in the US. Same should apply even in Europe. By even asking such a broad question, it's obvious that you should go with either Industrials/Consumer/TMT/HC. Good luck.

Aug 2, 2010

I would go with TMT but that's because of my personal interests. You should stick with what you're interested in because although deal flow matters for learning, you'll learn jackshit if you're barely paying attention.

Aug 2, 2010

First advice - don't listen to guys from US who aren't familiar with IB in Europe at all.
When it comes to JPM, the franchise is strong overall in Europe and you should be fine as long as you are in advisory or levfin.
TMT & Industrials are definitely top 3 in Europe so you should probably aim at them. Not sure about Consumer/Retail. Natural Resources and FIG are strong as well but you're not interested in them.
Country-based M&A teams tend to be strong because they are execution-heavy. If you are particularly interested in specific region (Benelux, Middle East, Cazenove in UK etc.), you should consider them. Otherwise, stick to Industries.
Good luck.

Aug 4, 2010

Thanks a lot Maverick, things in Europe tend to be a little different so your input was really helpful.
I've also contacted a couple of alumni from my school that now work for JPM asking them for advice, I hope I can get something out of them. I obviously want to be in a group i'm actually interested in but I really want to maximize my chances of getting a FT offer, times are still pretty tough...

Aug 4, 2010

Firstly, congratz!

Secondly, post here a list of groups etc. which they gave you to pick from.

And to answer partly to your question - if there is an M&A/M&A UK Coverage group or something like that, that would be the one which would give you the best exits. However JPM is strong is quite a few areas so it is pretty hard to make a bad choice.

Getting the offer for FT can be tricky, I know many of the people who interned there who weren't offered a choice of division for the summer, but for the FT most picked TMT and most were rejected, regardless of their excellent performance (apparently that was in their opinion the place to be last year).

I would stick to the group that you were originally assigned to, or the group where you made best contacts.

Aug 4, 2010

You should put down what ever you want to actually go in to. Unless of course there's news articles saying JPM London cutting 100% of their M&A division, because well, that's obvious.

But you should put your actual wants down because that way you'll be able to answer the question.. .Why healthcare? with honesty, and not a completely bullshit answer and then once working, you won't have any regrets for choosing a different one than the ones you wanted.

Just pick the group you want, hope that you get placed in it, and bust your ass to get a return offer to the group of your choice.

  • Anonymous Monkey
  •  Aug 4, 2010

Doing a JPM ibd summer internship in 2016, any advice of team selection or other things, based on your experience?

Aug 4, 2010

push

Aug 4, 2010
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