JPMorgan Chase Reviews in Austin, TX Area

Pros

Good pay compared to other personal bankers
Nice commision incentives

Cons

Uniform
It's still retail banking
Only advancement in financial area is to become financial advisor
JPMorgan does not usually promote people from Chase into JPMorgan

Pros

looks good on your resume that you are trustworthy and worked at a bank; they have an old school pension system (good) that you don't see anymore but vesting ( you get to keep it) after you are there for 3-5 years; better than working at Wells Fargo and Bank of America; can't believe I lasted 3 years there but start planting seeds and making connections with people in your community; it's not about what you know, it's who you know; best of luck

Cons

work environment sucks; people only go to the bank to complain; think about the last time you went; if you have a family and need good health insurance then this is a good place to be but if your focus is on getting a job where you are happy and find rewarding then don't stop her; It's a great bank and in fact, I still have my account and credit card there but I would never work there again; some of the people that work there are downright crooked people who don't have a criminal record but I guess that's everywhere;

Advice to Senior Management

If someone is not happy with what they do, help them move on; don't try to sell them some BS on how this career path has potential; if they are not happy then lead them in the right direction; "to get where you want to be, you have to help people get to where they want to be" zig ziglar

Pros

Good benefits, good intranet, well organized company.

Cons

promotion opportunity within the company is limited

Pros

location- you can transfer to other parts of the country and world fairly easily

Cons

no salary increases for personal bankers; commission structure includes chargebacks for products closed before seven month period; personal bankers are supposed to force everyone to sit down who comes into the bank for a simple transaction

Advice to Senior Management

if you are going to make checking accounts more difficult to open without service fees, then either start paying us on all work done, or quit charging back for account closures or let us get paid for all accounts opened, regardless of whether the client is brand new to Chase or not.

Pros

access to thousands of bank customer
prospects will take a call (or return a call) when it comes from their bank
ability to compensate bankers for referrals
tremendous flexibility of schedule

Cons

extraordinarily high turnover in management
low payout percentages and routine haircuts
high monthly revenue goals
disincentive to build book of managed money
equality of sales expectations, but great disparity in opportunity set (income potential dependent on affluence of customers in branch assignment - don't accept an offer if it's tied to a branch in a low-to-moderate income neighborhood... doomed to fail)

Advice to Senior Management

Don't take an Investment Management job unless you intend to stick around. If you're the 4th or 5th Investment Manager in your position in the last three years, don't expect your FAs to immediately change the way they manage their books to conform to you new initiatives. Demonstrate your staying power before you start shaking things up.

Pros

they are very involved in the development of the employee. works are are semi flexible, and has a decent pay

Cons

the company is very micromanaged, so anything that is done out of the guidelines or not following standard procedure is not ok

Advice to Senior Management

i think j p morgan chase is doing a great job, very focused on employee training, and keeping a high standard for customer satisfation

Pros

What I enjoyed most about working at Bear Stearns was the amount of respect the associates and management had towards one another. These individuals were driven and very knowledgeable about sound financial advice.

Cons

The balance between work and personal life was difficult.

Advice to Senior Management

I think that what's happening with the economy is greatly impacting the amount of tension happening with the department heads in the organization and that pressure is trickling down to the associates. The office environment is very unpleasant to be effective.

Pros

As an employee of Chase you have a lot of room to grow. There are many possible roads to take to learn knew jobs and move into different positions. There are many tools available to use to help you move on and up to different positions and depending on your manager, they are usually helpful. Chase has a wide range of technology that helps you to do your job. Their programs are very users friendly and easy to pick up and learn. The intranet is constantly being updated and full of useful information.

Cons

Chase sees there customers as well as their employees as numbers, but you would expect this from a large corporation. All upper Management cares about is sales, so long as you meet their goals they will be happy. Upper Management knows little about operations, and if you are in the operations side you will get little recognition or help. If you are in Branch Banking Upper management treats you like babies, or robots giving you scripts on what to say and when. It makes for a boring relationship between you and your customer.

Advice to Senior Management

My advice would be, help your employees grow with their needs and goals or you will lose them. Also lay off the scripts if the customers wanted scripts they would go to the ATM. Most of the employees have the skills to create a lasting relationship with the customer without sounding like a robot. As upper management you should learn everything in detail about what goes on so you can fully understand as well as recognize when someone is doing a good job. Last but not least at all is, sales aren't everything if anything they should come in a close second to customer service. If you have poor customer service you wont keep the customers you just sold something too.

Pros

I believe that Chase is a good company to work for, and you can receive just as much back as you put into it. The benifits are great, and everyone seems to have a helping attitude.

Cons

The only down side i can see is working in the mortgage department. Constant changes in policy make it difficult to stay productive and profitable. The home finance side of the house doesn't work together as a team. its always operations against originations. If a company can't work together, how to you expect them to move forward together? You've got your originations staff processing their loans. If their going to process them, then get rid of the damn processors who sit on their ass and collect a salary. That would probably resolve the majority of your issues and get you from the red into the black. Then perhaps we can start to be competative on rates and fees and close more loans. I've never worked for a company that said lets set the expectation of 60 days for a refinance. We are expecting an influx of sales, so lets drag our feet and take twice as long as the competition to get it done. Then if we can manage to get the customer to accept that fact, its going to take another 30 days to get paid on that. So from application to pay day that makes 90 days you have to wait. Who in their right mind wants to wait 90 days to get paid for a sale? It doesn't make any sense to me. Which I bet is a large part of the reason the company is losing employees who have called Chase home for 20 years??

Advice to Senior Management

Hire people who are going to get the job done, focus on the positive aspects and not the negative. Your quick to try to develop business in smaller markets, but get crushed by the local mortgage companies. I believed in this company from day one, but lost devotion soon their after. You have to help the people the sales froce when they ask for it, and not manage them from a desk. I think chase inspires with a lot of far fetched hopes and dreams.

Pros

It looks great on a resume when you eventually start looking around for another job. Kidding, but only slightly. The company is so huge that my opinions only reflect my area of work. And in reality, my area of work and my experience thus far (a year and a half) has been greatly shaped by my immediate boss(es). We have, as a result of guidance at the VERY top (CEO, Jamie Dimon), done very well in the financial crisis. Everyday when I deal with customers/clients they realize they are banking with a stable company. It is rewarding to be a financial advisor because I act as a guide during difficult times. I am heavily relied upon by hundreds of families and that is the most important part of what I do. I spend a lot of time taking something very complicated and explaining it to clients of all different backgrounds and different financial literacy levels. It can as well be financially rewarding as well, the top advisors will make more than 300k.

Cons

SIZE: When problems arise, the company is SO huge that finding the right answers can be difficult. Sometimes tracking down parties responsible for errors is impossible.
MID-MANAGEMENT: Very little concern of, or desire for, employee feedback. Prefer we put very little thought into our work and follow the company line. Of course I understand this is necessary to an extent, but they have taken it too far. The middle-management group are pros at CYA and not listening— whataya gonna do there? And my particular bosses have perfected micromanagement...it's almost embarrassing.
SALES: my biggest frustration is not specific to JPMorgan Chase, but it is definitely prevalent here. My role as a financial advisor is, at the end of the day, a sales job. I act as a guide and all like I said above, but I'm only paid to sell new investments, not manage them well.

Advice to Senior Management

Listen to what your folks on the ground are saying. And at the very least, give the appearance that their opinions matter. Obviously senior management is "senior" for a reason, but your biggest asset (and liability) is the group of employees that see customers everyday. When times get tough for your customers, then times are tough for your employees as well. When my job gets more difficult, as it has in the past few months due to market movement, then I need encouragement, not more micro-management.