J.P. Morgan

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

2 people found this helpful  

Not what you would expect.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - AML Analyst- KYC in Newark, DE
Current Employee - AML Analyst- KYC in Newark, DE

I have been working at J.P. Morgan full-time (more than an year)

Pros

Reputable name and people outside of banking seem to hold it to high esteem because it's the biggest bank.

Cons

Disorganization - Everything changes every week and managers lack serious competency; you cannot seek their expertise (b/c they lack any). Loyalty/Compensation- Management will try to low-ball individuals over their salary and have employees perform management functions without any extra pay. Additionally, the pay is below the industry average. Location- Newark and Wilmington, DE are less than desirable and living in a major metropolitan city (i.e., Philadelphia) is unrealistic now that the 495 is shut down. Talent pool- very weak in the DE market and new employees are getting paid higher wages b/c of this, causing discontent among the workers who have been their longer and possess a higher skill-set. Worker morale- Management presses for unrealistic numbers and there are rumors of/actual layoffs every month or two.

Advice to ManagementAdvice

Hire a legitimate consulting group to come in and determine re-organization needs. Have the consulting groups reduce redundancies - there are numerous redundancies and lots of waste (labor-cost wise). Have management re-apply for their jobs. Move out of the DE locations - you get what you pay for remaining in a weak talent pool.

Doesn't Recommend
Neutral Outlook
No opinion of CEO

4312 Other Employee Reviews for J.P. Morgan (View Most Recent)

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  1. 1 person found this helpful  

    Waves of reorganizatoin with the stated goal of reducing IT headcount

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Systems Engineer -≫ Tech Ops Analyst in Houston, TX
    Former Employee - Senior Systems Engineer -≫ Tech Ops Analyst in Houston, TX

    I worked at J.P. Morgan full-time (more than 5 years)

    Pros

    Total immersion in state-of-the-art banking and financial technology -- such as it is. The sink-or-swim "training" makes for great camaraderie in the trenches.

    Cons

    The almost yearly reorganizations and the succession of the person behind the intent to streamline IT suggests another 100% outsourcing attempt. I took a job with JPMC right after Jamie Dimon "fired" IBM and their total outsourcing agreement. It was exciting, massive internal growth as the bank staffed up for what was pitched as an investment in a critical resource. I happened to draw a rookie manager who had the leftovers of the support teams and simply didn't get the negotiation-based culture for managers to win new resources, compensation for current resources, and desirable support responsibilities. I left, and interviewed with Chase again, seven years later. I happened to get on with a unit that had been part of BankOne, and it was one of the best teams I've worked on in a 30-year career. Unfortunately, that team and many others were consolidated into a centralized monolith whose focus was putting out the fires started by the consolidation itself. While this was a great learning experience -- many different approaches to disaster recovery, for example, had to be reconciled and documented -- it was very frustrating as management turned from Follow The Sun to Everyone In Your Time Zone Must Have Odd Shifts. Further, we were converted to hourly employees so that shifts could be defined -- and changed with short and in some cases, no notice.

    Then came the day when we were all on an enormous conference call for an announcement about the latest change, and the architect of the change slipped and recited a talking point clearly meant only for senior management: "Ultimately, we must train the organization to regard IT as a fungible reosurce, to enable outsourcing wherever necessary to bolster short-term and long-term revenue and profit." I counted it fortunate that everyone on the call was muted by design. The unheard uproar didn't disguise the fumbling and muttered curses about not havnig the correct text for the presentation. I appreciated the view into the true intent of the organizational changes, and I found it very telling that the IT organization was being run as a profit/loss center.

    Another case of excellent co-workers and out-of-touch management with no apparent desire to improve the workplace.

    Advice to ManagementAdvice

    Consider that employees are valuable assets to be cared for. JPMC has become an employer of last resort.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2.  

    manager new and disconnected. very political and no open/honest communication

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

    I have been working at J.P. Morgan full-time (more than an year)

    Pros

    great benefits
    great talk about employee work/life balance and customer first culture

    Cons

    lip service to employee life/balance
    no career growth opportunities

    Advice to ManagementAdvice

    focus on actually delivering great employee experience vs saying you do it

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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