My Summer Internship with J.P. Morgan Chase & Co.

This summer, I was lucky enough to intern with J.P. Morgan Chase & Co. as a Summer Analyst in the Private Bank in San Francisco. For context, the Private Bank services some of the most wealthy individuals and helps them find solutions to further achieve their financial needs. This comes in the form of a broad group of capabilities including: investing, trust and estate planning, lending, philanthropy, banking, etc.

I don't even know where to begin about the amazing time that I have had with J.P. Morgan this summer. I have been able to immerse myself in an environment that encourages intellectual curiosity, constant learning, mentorship, and personal growth. From the first day at training up until my final week, I felt like I was a part of a team that I could be proud of.

The company devotes so much of its time and resources to helping our communities, and that is something that I personally value. We were given the opportunity to volunteer through the firm twice in my 9 weeks with them, and I believe that says a lot about the company's culture towards giving back. I also learned about how much they have invested in Detroit to help rebuild the city, and it spoke volumes to me about the kind of company I want to associate myself with.

The most valuable part of my experience has been the people. I have been able to build relationships with, work with, and learn from some of the most intelligent people in the world. The people I have met at J.P. Morgan make me excited and energized to go in to work everyday.

I thought it might be interesting to hear a few of the things I have learned this summer. Below, I have given a high level summary of two random, but extremely interesting, things that I have learned this summer:

1) Qualified Opportunity Zones/Funds: Under the new tax code, Qualified Opportunity Zones are economically-distressed communities where new investments, under certain conditions, may be eligible for preferential tax treatment. They are designed to spur economic development and job creation in distressed communities. There is still a lot to be figured out around this new investment vehicle, and there are still a lot of unanswered questions.

2) Incentive Stock Options and Non-Qualified Stock Options: In the Bay Area, many founders and C-Suite executives of private and public companies receive ISOs and NQSOs for their companies. One of the differences between the two is how they are taxed at the time of exercise and at the sale of the security. This is one of the many complicated financial situations in which the J.P. Morgan Private Bank can add value for their client. There are a lot of other rules and conditions to consider when running analysis on stock options.

My summer with J.P. Morgan Chase has been extremely valuable and rewarding. From the incredible company culture, the amazing work environment, and the endless learning opportunities, I couldn't think of a better place to have spent the last 9 weeks.

#UTDBSFIN #JSOMINTERN