General Questions for INVESTMENT BANKING 1.

What is the mobility across industry groups and product groups within the firm? For instance, can I after some time (say 1 or 2 years) move from an M&A role to a corporate finance role or from the healthcare sector to the TMT sector? 2. In all investment banks there is a china wall between the investment banking side and research and trading. What is the interaction of the Investment banking team with the research and other departments and how does knowledge sharing take place between them? 3. After a while in any investment bank, an employee gets assigned to an industry coverage group. Industry groups are formed based on the market perception of hot areas. What happens to an average employee if he/she: Gets assigned to an area in which there is relatively less business at the moment. For example telecom in India became hot a couple of years back, before that there was hardly any activity. In such a case does this person get an opportunity to get involved with deals in some other industry group? TMT is one of the primary thrust areas of most Investment banks. What if I get assigned to the TMT sector now, develop skills in this sector and the sector goes out of the markets favour after 3-4 years? How do I then move to another sector and develop skills in a new industry from scratch? 4. Traders are known for having a typical life of 8-10 years before they move out. Is there any such burn-out time for investment bankers too? If yes, what are the kind of exit options that bankers typically have? 5. Are movements to banking from sales/research/trading possible and vice-versa? Why? 6. Investment banking is generally believed to be the most vulnerable to market ups and downs. What has been your experience/observation regarding this? Questions for J.P. Morgan Chase & Co.

For how long does a new recruit work in a generalist role before being assigned to an industry team? How is the organization structured within Investment Banking? Specifically, are M&A and Capital raising the two product groups, or are there separate teams for Syndicated Finance, Debt Capital Markets and Equity Capital Markets within capital raising? What is the hierarchy within the Investment banking group? How do teams typically get formed for a deal? Team size, no. of people from different levels, role of the senior analyst Could you tell me about the training program for new hires in Investment banking? It was mentioned during the PPT that the program is spread over a period of time. How does this work and what are the skill sets that one is trained to develop at each stage? What is the geographical mobility within the firm? How often does one get to work on a deal which is being executed by another office? I believe that that there is a 360 degree evaluation program in the organization. Given the strong team culture in the firm, how is individual performance evaluated? I think, based on the PPT and some articles that I have read about the firm, that JPM has an entrepreneurial culture. How does this culture permeate the investment banking

business given the heavy emphasis on team work, is the accountability also team specific rather than individual specific?

JPM has singled out TMT as the thrust area for the future. What will the thrust regions for the Investment banking team going ahead? What is the commitment to Asia Pacific and India? JPM has been voted No. 1 in Asian M&A ex. Japan by Thompson Financial Survey. What steps are being taken/will be taken to accomplish similar a similar feat in capital raising also? JP Morgan would be having unique strengths in this area given its balance sheet strength, long-standing relationships, innovation and global distribution capabilities. What is the extra effort required to become No. 1 or No. 2 in capital raising too both in equities and debt?