What makes JPM stand out compared to Goldman and Morgan Stanley? Like why JPM and not Goldman?

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In terms of how they treat their employees- JPM has much better compensation, benefits and culture than Goldman. The two are really close in terms of the business they bring in within the industry and over the years it’s been pretty similar. Goldman used to be the best bank on the street but since Covid there has been a decline in performance and also heavy attrition as employees have finally started speaking up about how toxic the firm is

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Goldman is considered better than JPM in the same way that Harvard is better than Dartmouth.

Morgan Stanley isn’t in the same league, it’s more like University of Michigan.

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There are many different of rankings out there. How about the one where MS and GS are not even on? :)

https://www.linkedin.com/pulse/top-companies-2022-50-best-workplaces-grow-your-career-us-

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If this is to prepare for an interview question, I’d avoid trying to compare the firms objectively and focus on why JPM is a better fit for you

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GS and MS are the only true large scale investment banks left. Every other BB is a investment/Comercial bank hybrid. Before the crisis it gave them a different regulatory scheme, but now days they are in essence regulated the same.

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My SO worked at both JPM and MS.

MS paid a little better but also for longer hours, including late nights and weekends. Not sure if you calculate pay/hour, it’s still worth it—likely not. They also decided the downsize my SO’s team at the beginning of Covid and chose not to pay the bonus from the previous year. It’s pretty shitty.

Besides the above, not much else is different. People in both places are competent and not hierarchical, which is good.

Also, it’s known for IBD that the cream of the crop talents would go to MS or GS before JPM, although I’m not sure it works like that in the recent years.

If you get both offers and they are the same TC, go to JPM. If you choose MS, make sure you ask for more money.

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Sure

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There is heavy attrition at JPM too.

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Main differences in my opinion, GS more strict in terms of culture, more sink or swim generally bc of the sheer size of it being less than 50k employees globally.

JPMs culture is like that at certain senior levels but juniors are exempt typically, culture at JPM can be more relaxed depending on your function.

Both firms pay decently well if you negotiate your salary. MS is about 60k employees and heard mixed reviews about their culture, great but very result driven. But then again that’s all the banks across the street.

For more insight can you be a tad more specific? Are you looking into specific functions or what each bank is known for?

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Thanks! Strictly speaking, I’m looking for an answer to «why JPM? (and not MS for instance). I’m meeting with JPM and MS in a couple of weeks, so I suppose it could be easier after, but rn I find it hard to answer «why JPM» instead of GS or MS…

Are we better than GS at comp?

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