J.P. Morgan

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

1 person found this helpful  

Competitive, but regard just for the business can demoralize technologists

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Applications Developer in Dallas, TX
Former Employee - Applications Developer in Dallas, TX

I worked at J.P. Morgan

Pros

-Smart present CEO (Jamie Dimon)
-Compensation
-PTO
-Benefits
-Helpful people

Cons

-Very competitive finance industry causes disregard for technology by business
-Offshoring has caused great cultural and preofessional gaps and sometimes leads to demoralizing the workforce
-Too much to be accomplished in a unit of time (a year, a month, a week etc)
-Fixed bid projects by contractors affects full timers such that full timers have to put up with sometimes questionable development practices and designs
-Too much competition at lower levels to get promotion

Advice to ManagementAdvice

Once the financial crisis has subdued, please invest in people management, giving more career advancement and training opportunities.

Recommends
Approves of CEO

4422 Other Employee Reviews for J.P. Morgan (View Most Recent)

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  1.  

    JPMorgan Chase excellent place to work if you can square the ethical questions currently surrounding the 'big banks'

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Business Analyst Senior in New York, NY
    Current Employee - Business Analyst Senior in New York, NY

    I have been working at J.P. Morgan

    Pros

    - excellent salary/benefits
     - flex scheduling and WFH
     - support for personal/career development
     - internal mobility/growth encouraged

    Cons

    - difficult to maintain healthy work/life balance

    Advice to ManagementAdvice

    There is more to life than money. Corporations can be moral/ethical just as people can.

    Approves of CEO
  2. 1 person found this helpful  

    It's Over

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Vice President in Columbus, OH
    Former Employee - Vice President in Columbus, OH

    I worked at J.P. Morgan

    Pros

    The flexibility and ability to work remote continues to be a strength; however, more areas are starting to limit and revoke this policy completely.

    Cons

    It finally reached a point where I decided it was time to move on. My reasons are below:

    1. Career advancement is decreasing significantly. Regardless of what anyone tells you, this is a New York-centric business and those that live in that area are going to enjoy mobility.

    2. My management chain above my immediate manager is terrible. Being in a different location was a real challenge for this individual. The director showed little to know interest in his team and he lacked core knowledge in the function he ran.

    3. The company continues to beat analyst expectations and there isn't a willingness of senior management to share that with the employees. Clearly, the company is taking advantage of the current economic climate and making changes while they can. That is what is causing the high performing employees to ultimately quit and seek outside employee and it isn't driven by compensation. Ultimately, this is going to really bite the company in the behind because the meets to exceeds expectation employees are going to leave and not return. Even the Wall Street Journal noted this trend of more people quiting instead of being laid off.

    4. Job postings have been placed as a check box and very little movement is occurring within unless the person knows the hiring manager. Although things are picking up locally, the number of postings is low and for some of the positions I inquired about, the compensation was significantly below my current level. If I would have taken the position, I would have experience a deep cut in compensation.

    5. The way the overall compensation program is handle is down right strange. Performance is not linked to compensation and ultimately it's a subjective decision that is driven by which director can get the most for their team. My review and compensation didn't match.

    6. Benefits continue to decrease, so the overall level of compensation is decreasing. The 401(k) match is now annual and there isn't a clear understanding as to how the decision is made. Additionally, the pension plan was significantly reduced and I anticipate it will be eliminated in the next few years. The level of contributions continues to rise year after year at rates above inflation and without any type of compensation adjustments, overall income continues to decrease.

    7. Lastly, JPMC is a very impersonal company. You are known as a number and at times this bugged me, but I general accepted it because of the company's size.

    Advice to ManagementAdvice

    Realize, your employees are what makes the company work. Compensation isn't the reason people are leaving and HR is lying if that is what they are telling you.

    Doesn't Recommend
    Approves of CEO
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