J.P. Morgan

  www.jpmorganchase.com
  www.jpmorganchase.com
There are newer employer reviews for J.P. Morgan

 

Horrible heartless company

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Anonymous Employee
Former Employee - Anonymous Employee

I worked at J.P. Morgan

Pros

There's nothing positive to tell

Cons

Greedy, heartless, moronic managers, favortism

Advice to ManagementAdvice

Ditch all managers in SA and start from scratch

Doesn't Recommend
Disapproves of CEO

4403 Other Employee Reviews for J.P. Morgan (View Most Recent)

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  1. 2 people found this helpful  

    Be very careful about the position you are offered. If you have multiple opportunites, strongly consider others.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Information Analyst in Irving, TX
    Former Employee - Information Analyst in Irving, TX

    I worked at J.P. Morgan full-time (more than an year)

    Pros

    Name brand company with Ivy league status (not too sure how helpful that is)
    Relatively low likelihood of getting laid off
    Good chances to move around in company although mostly lateral with no salary increase
    Many locations to work from
    You can make many long lasting professional relationships

    Cons

    MAJOR issues with compensation planning and salary increases for promoted employees
    Unimaginable levels of red tape that hinder nearly everyone from being even 80% productive
    Total 'cover your ass' culture that is highly reactionary in day to day operations
    Really cold East Coast corporate culture that lacks any meaningful sense of humanity
    Severely short-staffed in most departments

    Advice to ManagementAdvice

    To anyone looking at Chase for a job: Please strongly consider working elsewhere. If you receive an offer and have the luxury to compare against other companies, you must research the best you can on who you will be working for and the projects you will be involved in. This company is so big with so many regulations and controls that you are very likely to experience a high degree of job dissatisfaction. For most people, there are about 10 to 12 levels of management above them. This unusually top heavy hierarchy causes huge communication gaps between senior leaders and ground level employees. My experience is limited to a group in the mortgage space at the Irving (Ridge point) location. The benefits are standard faire compared to other companies but the real issue is compensation. Time and time again I saw wonderful employees accept promotions only to not get compensated for an average of six months to a year and in many cases, they never saw what was promised to them. It’s truly sickening to witness this in such a large and prominent company like Chase. Nearly all talent gets fed up with this and leaves. To be fair, there are some amazing managers that do make differences but they are rare. Low performers are commonplace and never seem to get fired or held accountable for their poor performance/actions. Chase culture is highly reactionary in everything they do. A negative story hit the newsstands and all hell breaks loose internally with no plan or direction. The company literally lives day to day with no sound technologies in place to protect itself. The servicing systems are extremely outdated and very few people understand them. I often heard the phrase, “It’s amazing this place makes money given all the system problems”. This cycle just keeps going and going. There is a ton of money pumped into the PR department so that “reputational risk” is minimized at all times. I have to say, the PR department has built an effective Chase image and facade that keeps other bigger issues well hidden from public view. If the public knew about some of the day to day issues, Chase would be in big trouble. I’m very serious in saying that. This place is a true house of cards. Work life balance is horrible in all of the IT and MIS groups in Mortgage Banking. I’d say the average time worked by most good employees is well over 60 hours per week. Most managers even expect you to work long hours because everyone is so short staffed with no reprieve in sight. I heard for two years, “we should all step up during these challenging times” but yet we were recording stronger profits quarter after quarter. Trust me when I tell you that this is a VERY hard company to work for if you are an IT or MIS person. If you need to have a sense of accomplishment at your job, this is not the company for you. There are so many other companies that have better values and know how to maintain an effective workforce. Just please do your research and be informed by talking to whoever you can before you trap yourself. Best wishes and good luck!

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2.  

    Needs to work on better work-life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Banking Analyst in New York, NY
    Former Employee - Investment Banking Analyst in New York, NY

    I worked at J.P. Morgan full-time (more than an year)

    Pros

    +Very well run company
    +Depending on what department (CIB) very good salary
    +Great benefits

    Cons

    - Not a fair game; very bureaucratic
    - People are very superficial; who you interview with are not the ones you will work with (personality wise)
    - People seem pretty miserable working there; only there for paycheck
    - Terrible work-life balance

    Advice to ManagementAdvice

    Take the time to learn juniors and recognition for the work they do.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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