Chase

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8 people found this helpful  

If you love sales, you will love this job, otherwise, don't even come close!

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Licensed Personal Banker in Mesa, AZ
Current Employee - Licensed Personal Banker in Mesa, AZ

I have been working at Chase

Pros

This is a huge company with plenty of room to move around. Pretty much no matter what you want to do, you can do it here. The benefits here are great with the 401(k) being matched by the employer up to 5% of your paycheck as well as a comprehensive pension program. After a year of service they start to contribute a percentage of your check into an account that pays interest. This percentage is between 3 and 9 percent of your pay. Vacation time is standard here, 2-3 weeks a year. Bank branches have varying hours, but not having to work too late is a plus. Most branches are closed on Sundays, and most employees alternate having weekends off within the branches. The environment you work in varies greatly depending on the personality of your manager. I've been through a few managers and the atmosphere at work changes greatly. Some managers are laid back and others really like to micro-manage, but these problems come with any place of business.

The bonus program is good here compared to other banks in my area. They pay you a MONTHLY commission based on your sales numbers. They give you "PVC's," or points, for everything you do. A checking account is 5PVC's, Direct Deposit is 15 PVC's, Online BillPay is 25 PVC's, a credit card is 17.5 PVC's, a fee-based debit card is 7 PVC's, a business checking is 25 PVC's. For loans, every $1000 loaned is 0.7 PVC's, so a larger Home Equity, say 100k is 70 PVC's. Investments pay you 2 PVC's for every $1000, so $50,000 invested with JPMorgan is 100 PVC's. The bank wants you to make 1200 PVC's each month, you need 1150 per month to acheive 100% payout, which means they pay you $1 for every PVC, so 1200 PVC's = $1200. At 1500 PVC's you make 125% and at 2000 PVC's you make 150% and there is no cap to what you can make. If you are in a good location and you are great at what you do, I know of bankers that make 120,000 a year, so yes, that is definitely possible. Not common, but possible. 1200 PVC's is achievable, and it does require quite a bit of hard work and being very proactive, calling people, setting appointments for them to come see you, pulling people from the teller line so you can sell them products. It's a very aggressive sales atmosphere, but if that's something you like, you will do great and love this job. If it's not, you will want to get as far away as possible from there. If you make 500-750 PVC's you make only 50% and 750-1150 is 75% and below 500 you don't get a penny. Salaries range from 28,000-32,000 with no raises. If you want a raise, you have to give it to yourself.

Cons

As a banker, it's all about sales numbers and goals. They constantly tell you that the goals are set so we can help customers, but many times I feel like we have to push products on customers that don't really need them. You also spend a great deal of time dealing with customer complaints, many times about fees that the bank will refuse to reverse, even if it means making a customer so upset that they will close their accounts. Obviously we are in the business to make money, but it just doesn't feel like the customer really comes first here, the bank does. I'm a very service-related person and enjoy getting to really know my customers, so therefore I have been repremanded by management for "spending too much time with customers when I could be using that time to sell." In my eyes it is very important to build a relationship with a customer and build that trust as opposed to just pushing products, and the bank will tell you they feel the same way, but when it comes down to it, they really couldn't care less about that and just want you to sell, sell, sell. We even have a banker here in the branch that used to be a car salesman and he is getting frustrated by the aggressive sales goals and is looking for employment elsewhere. I also am looking elsewhere, but within the company. JPMorgan Chase is a great company to work for with outstanding benefits. This doesn't mean that this job isn't for anyone, because at my branch there is a banker who has been with the company for over 20 years and loves every part of her job, is a genuinely nice person and makes great money.

Advice to ManagementAdvice

Senior management runs the company very well, but sometimes, they just seem too cheap. The budgets have been cut back significantly, we don't even have a Christmas party any more, and if we do, we have to pay for it. But cutbacks are definitely necessary in today's struggling economy.

Recommends
Approves of CEO

2569 Other Employee Reviews for Chase (View Most Recent)

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  1.  

    JP Morgan Chase entry level position

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Customer Care Professional in Monroe, LA
    Current Employee - Customer Care Professional in Monroe, LA

    I have been working at Chase

    Pros

    The best reason for working at JP Morgan Chase is because the company really recognizes its employees. It is a fun environment to work in. They are constantly making fun activities every week. Every week there's something new going on in the lobby. The give away free food sometimes. The best part is they have a cafeteria. It's convenient for those who don't have a car.

    Cons

    The downside of working at Chase is that you are always busy. The customers are always rude and the information changes too often. It's very hard to remember things when things change everyday.

    Advice to ManagementAdvice

    Senior Management is always there to help. No matter what the problem is, if you have questions please ask. Everyone working at Chase is so very helpful.

    Recommends
    Approves of CEO
  2.  

    Great company to work for even in troubled times

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Licensed Personal Banker in Scottsdale, AZ
    Current Employee - Licensed Personal Banker in Scottsdale, AZ

    I have been working at Chase

    Pros

    Benefits are very good. It appears they promote from within the company.

    Cons

    Comp plan changes each year

    Advice to ManagementAdvice

    Micro management works for some but not for all and can sometimes waste time.

    Recommends
    Approves of CEO
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