Please forgive the naïveté, I don’t come from the corporate finance industry— I’m trying to understand if it’s a big deal to be an MD at JP Morgan and how that translates to future opportunities at the company and beyond. I received an offer that I’m evaluating against a VC fund and trying to understand what the title holds at JPM and what that means for career progression, opportunities, etc. Thanks for your feedback! #finance #jpmorgan #offer
MD at JPM is a big deal. What’s the VC role?
COO/Operating Partner. Running the day to day fund operations, not check writing
IMHO JPMC will open more doors in the future as an MD
Pretty big. Heard at my summer 2022 internship there that only 3-5% of all employees are MDs
MD (at GS) maps to L6 or L7 at tech companies.
JP and GS don't use the MD title the same. GS MD = JP ED (executive dir) = tech L6/L7/low end of L8 GS Partner = JP MD = tech L8/L9/VP The CIO of JP is an MD. It's a very broad title. When I left, my reporting chain had 5 levels of MD starting at lowest one with org of ~250 up to the highest was the CIO.
A Finance MD is an industry VP. Statement above is false... Or GS standards are slipping
It's what we all wanna be.
Hahaha,,, not really though😊
I'm a VP. If anybody is offering MD, I'm snatching their arms off along with the stress.
MD is big title within JP and you can jump to BNY or Barclays or UBS with that position or become a EM in G or Meta or Amazon which is a downgrade. Check GS MDs who are EM in Meta now.. Being within chase it’s almost impossible to be MD but if you are EM in Faang then it’s easy to become MD in chase. Job responsibilities as MD is not much but just maintain existing platforms. All they do every year is move existing legacy platforms to cloud or move from one cloud provider to another like PCF to AWS. Perks are good as MD and you manage a bulk of H1B Indians or boot camp/CS grad American kids who got rejected in Faang
Does EM = executive management?
Engineering Manager title in Faang
MD in FS is equivalent to VP or above in other sectors. A JPM MD business card will open most doors, and provides excellent exit opportunities if an MD doesn't want to stay. Typically an MD is running at least an 8-digit budget; most of the MD roles are in revenue-generating / client-facing roles in the wholesale businesses, or leading large product / ops / tech organizations in the retail businesses.
Its the highest title there is. They get paid well. Not really sure what they do much as I am IC.
Yes they worship those letters in the finance industry