Intern at JP
Hey guys, I just started as an intern at JP Morgan. I am not gonna lie, I wanted a job in IB because like finance and wanted the nice salaries and big bonuses and thought it was going to be nice to start during my second year at college (computer engineering). But I am in the controls area, I didn’t even know what it was before getting in and I’ve just realized it is kinda boring and doesn’t pay as well. So here goes my question: I am full of energy, hard working and wanted to do something related to finance and/or programming and earn a lot of money as well. Is it possible to go to front office or becoming a trader? If so, what are the steps to it? Or do you think I should stick to computer engineering? #finance #trader
Join any decent fintech as a SWE, then once you have some skills join the next hot pre-ipo Fintech at a decent valuation. Doesn't this solve all 3 problems? I mean a decent senior trader in NY (non-eng) makes $500k so it's not bad, but compared to SF engineering hours it's pennies on the dollar.
What department are you in?
Controls in CIB
Stick to computer engineering. The alluring salaries get less attractive the moment you start working +70 hour weeks and have no time to spend the money with the people you care about.
Just figure out what you want to do, those are very different paths. The money will follow if you’re passionate about what you’re doing.
There is a lot of money in software engineering. Maybe change company?
I know several people who became tempted by the large $ signs that ib offers but quickly fizzled out due to insane work hours
Depends on where you go to school. I was in the exact same situation at JPM, ended up going the tech route.
And how did it work out for you?
Not great. I’m a first year SWE at a tech company now which is not ideal. I foolishly thought accepting a back office SWE internship at JPM would lead to IB or trading SA roles the next summer. It didn’t - I’m not from the best school and because of this had basically zero access or visibility into that side of the firm. Generally recruiting for entry level FO roles happens almost 100% on campus compared to from BO/MO interns. As I mentioned though, a lot of it depends on school. One of my coworkers from a good school in SWE at JPM ended up getting front office offers for the next summer at JPM as well as a different BB. If your school is not good, though, I’d cut my losses and go do SWE at FANG or back office at a bank or something - basically focus on optimizing your GPA, getting an “average” job after college, and getting into an M7 MBA program ASAP to escape the middle class hell, lol. All hope is not lost 🙏 you’ve got this!
You need to make the most of your internship and do some networking. Find people working in those areas and organise coffee with them.
What do people do in controls?
it’s like an audit, we call it the first line of defense. Basically revising and taking care of what the middle office has done
Trading is dying nowadays. Unless you are really passion about it, think again about what you want to pursue.
Oh shit
Hahah not including you. The ETF Market maker king.