JPM vs MS

Career Opportunities & Internships Investment Banking
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<p>I have an offer from JPMorgan for Investment Banking this summer in the London office. Additionally, I've received an offer from Morgan Stanley Private Wealth Management in the Chicago office and I'm having trouble deciding between the two. More specifically, I'll be placed in the Investing and Strategies Groups at Morgan Stanley. </p>

<p>I'm ultimately interested in going into hedge funds/private equity after graduation, maybe even consulting and pursuing an MBA or JD. Which of these two internships provide better exit opportunities?? (Better as in a wider range of exit opportunities) Thanks for your inputs!!</p>

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<p>lol you’re kidding right? Do you have any idea how low PWM ranks in the food chain? It’s like working in Ops.</p>

<p>There are no exit opportunities from PWM, especially not at a regional office</p>

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<p>Honestly, this is a no brainer unless you are set on PWM… JPM IBD >>>>>> Any PWM</p>

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<p>this begs the question…how did you get an offer? I thought they like people who can make good decisions for themselves</p>

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<p>What about Goldman IBD vs JPM IBD?</p>

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<p>…another stupid question</p>

<p>Goldman obviously</p>

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<p>all right, looks like Goldman it is then!</p>

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<p>I wouldn’t say that’s nec. stupid. Honestly if these are not merely hypothetical, you should go visit the banks and get a feel for them. If you are talking about pure prestige, it really depends on the group.</p>

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<p>C-Revs: no they are not hypothetical. I’m asking mainly because JPM has a much better placement rate for summer interns to FT analysts…something like 90% while Goldman is around 60%, while Goldman has a slight edge in prestige. </p>

<p>Awped: why “obviously”? I agree that the Goldman name is tops on Wall Street, but its IBD has, over the years, been steadily marginalized by its S&T Division…and I’m going into I-Banking. Plus, isn’t Goldman under quite a bit of public scrutiny??</p>

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<p>Don’t blindly pick a bank based on prestige, especially for a summer internship. GS in particular has a notoriously low conversion rate, while JPM has a very high one. All else equal, I would much rather intern at JPM.</p>

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<p>Here’s an approximate ranking:</p>

<p>GS/MS
JPM
BAML, Citi, Barclays
DB, CS, UBS</p>

<p>Yes I realize groups matter, but the OP didn’t mention any…</p>

<p>Also, the difference between GS and JPM is more than “slight.” Do you realize large cap PE funds like KKR and TPG sometimes hold MBA recruiting sessions only for ex-GS/MS? If you look at the professionals at these firms, you’ll realize that the number of GS/MS alumni far exceeds the number from JPM. This is unlikely to change in the foreseeable future.</p>

<p>Regardless of what the public thinks, the Goldman name is still considered the best by those in the financial industry.</p>

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<p>This argument doesn’t make sense. GS may have a lower conversion rate, but your odds are still much better than going through FT recruiting in the fall. You’re only a college student, don’t be so risk averse.</p>

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<p>should i work as a bag boy at the local grocery store or GS IBD intern?</p>

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<p>^that depends, are we talking Dean & Deluca or Albertsons?</p>

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<p>Dean & Deluca has great exit ops, though I hear the benefits are surprisingly not as good.</p>

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<p>You got GS IBD and you’re asking this question? You’ve got to be kidding me.</p>

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<p>If the odds of a permanent job are 90% at JPM, and 60% at Goldman, you must take JPM.</p>

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<p>OP - in your case you want to pick JP IB over Wealth Management at MS. Wealth management’s pay is not going to be as good as IB. MS’ name is also not the same any more. It is going to take MS 5+ years to get back to where it was. They fired too many talent during the last down turn. The upside for new associates and analyts is MS will look to promote them to fill those spots. One very senior person actually said MS future will be in those associates and analyts. </p>

<p>My daughter had an offer from JP, Ms, CS and DB in S&T. After doing some deep thinking, she picked DB, which was a big surprise to most of her peers. But I, and many of my friends, support her decision. She believes she’ll get more of a global prospective, and better training at DB. </p>

<p>JP does have a very good retention rate. I also know GS’ retention rate is not great.</p>

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<p>Well oldfort I was waiting to hear about your D’s decision. My D took your D out to dinner for a recruitment event. Unfortunately, your D did not pick my D’ s employer.</p>

<p>Good luck to both of them!</p>

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<p>morrismm - small world. I thank your daughter on my daughter’s behalf. It was a very difficult decision because your D’s employer is a top firm. She still has a bit of pain thinking about it.</p>

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<p>Just pick whichever bank gives you the best exit opps (GS/MS for IBD) since you’re not going to be staying for more than 2-3 years…</p>