JP Morgan's Private Bank
Hi,
I accepted an offer for asummer internship和JP摩根's Private Bank with their investment solutions team (not the advisor/sales side).
我为此感到兴奋，但人们已经告诉me that private banking/wealth management sucks, even though I think I would enjoy it.
Does anyone have any thoughts about the private bank atJP摩根and if it's a good place to stay for a career?
Any input would be greatly appreciated!!
Thanks
Comments (37）
如果您是投资解决方案集团，那就太好了。另外，如果您喜欢它，那就无关紧要。您将在一家拥有很多机会的伟大公司赚钱
Thanks for the response, yes it's with the investment solutions group. Although, I'm not sure specifically what team/desk I will be on. Do you know how they allocate you to a team and would it be a good idea to email someone on a team I'd like to be on?
我会给您的招聘人员发送电子邮件，并询问它将如何工作以及所有这些
When you say people do you mean people from this site? This site is a bunch of undergrads echoing what the last undergrad said. The secret nobody on this site seems to realize is you don't need an exit opp when you actually like your job.PB没有't give you the optionality thatIB确实如此，但这是一个伟大的职业，您将超越大多数去的人IB。
这PBis also different in a way than your run of the mill FA. Not that there's anything wrong with either, but it's definitely a step up from like a financial advisor training program. All thePBclients tend to be UHNW and you get to work with some very interesting clientele. Echoing what others have said, it doesn't really matter what others think, rather what you enjoy. Considering it is a massive firm with a great reputation, you will definitely have some decent exit ops. You won't be going like right intoPEor aHF或任何东西, but if you look on LinkedIn you'll some of other people have switched intoIBafter a couple years or gone to B school or other interesting jobs.
作为后续行动，它可能是一个不错的住宿地点，绝对是好的，我的银行家/S＆T人士剩下了。绝对不是每周40个小时的工作，也许像60-75一样，也许是80个，但您永远不会拉100小时的一周，也不需要在周末工作。其中一些取决于团体和市场
Bump. going to join solutions team and understand this will expose to more technical skills compared to the normal team. if anyone has additional insight would b great
Have the same question about the Solutions team. Would love to hear more insights on this.
JPMPB如果您正在寻找每小时的薪水，则是100％的举动。他们将入门级基础提高到10万美元PB（与IBand ER).Fuck anyone who downplays Private Banking. You're clearing great pay for less hours.
就个人而言，我在IBand am heavily considering making the switch to JPM'sPBdepartment. The solutions group will offer great stability while collecting decent pay (granted, it will be capped lower to the client-facing group at the senior level). If you believe you have a good sales-person skill set, I'd recommend lateraling to the client-facing advisor group. You're comp will be much higher later on and more human interaction. It is higher risk tho
I'm an analyst in thePB现在，尽管时间少于IB, analysts are still putting in 60+ a week which is not great imo. Plus bankers/investors still work a fuck ton (my bankers work even more than I do), so long term that only gets worse. And pay is salary + bonus at thePB银行家获得报酬,方法是法律t constantly sell and bring new business, which contributes to those hours, and since we don't get paid fees, our compensation lacks heavily when compared to Goldman, MS,UBS, etc.
As an analyst, sure, make good money and not workIB个小时。但长期不是“k + whi的500美元le working 30 hours a week." I'm not coming for you personally, just wanna make it clear that imo it's not that great lol
Thanks for your insight. Appreciate hearing someone who's actually on the job.
IfPBis not as glorious as it's painted out to be, I'm sure many analysts will leave for greener grass. That said, I'd be especially curious to hear if you have any color on the exits for mostPBanalysts.
Have you seen many stay up to the VP level? Do most leave to Wealth Management or leave the industry completely?
Just asking because I've seen quite a couple people from my college go toJPMPB在分析师级别，但我不知道之后会发生什么（假设大多数不进步？）
First, congrats on your offer - you should be excited. Second, who cares what other people think, especially if you think you will enjoy it. I have friends at the D/MD level and make good money and really like their jobs. Ultimately, if you find out you don't enjoy the career path you can always pivot to something else - this happens in most sectors,不只是PWM。
Good friend is an MD inPBand makes over 500k (closer to 750k).
CurrentJPMPBanalyst here. ISTG this is so underrated. This might be the chillest/least stressful high finance six figure job. Making $100k out of college without yelling VPs. Clients are interesting families/entrepreneurs/founders and their family offices. No facetime culture. Can log off at 6 most days and finish up at home. Rarely have to work weekends unless you have just been slacking during the week. Culture is awesome. Most seniors are exIB/S＆T的人。有趣的是向周围的高素质人学习。作为同事，您可以戴上帽子作为投资者和银行家。我办公室中的大多数员工都参加客户午餐和参加活动。但还要回到桌子上，以帮助客户交易并谈论市场/投资。私人银行业务不是典型的WM。它更复杂的IMO。
Day to day is mix between client servicing/account openings/putting investment proposals (pitchbooks)/client reviews/credit docs/Alts deals/helping bankers with prospecting.JPMPBalso does a ton of Alts (PE/HF) deals for clients so its always cool to be part of fundraising. Most common exits are IR/Fundraising type roles.
Can you provide any clarity into the comp progression?
以上列出的信息是否准确？
yes comp info above is accurate. Analyst years: 100 > 105 > 110. Our Comp progression is same as S&T.
well said. this sounds accurate ^
。
Anyone know if it's easy to move from an investment role inPB扮演AM的投资角色？
这re's a decent amount who love internally to eitherIBor是from JPMPB
thanks for the reply!:)
I've heard internal mobility atJPM好的，考虑到您刚才所说的支持，您对此有何看法？
我是一个区域办事处(顾问分析师跟踪）。My advice is to not give a fuck what other people say or think (especially on here lol). The pay is great (albeit advisors make more than the investors since they "own" the clients) and long term is probably one of the few ways to make 7 figures while still having a life.
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