Company: J-P-Morgan
Date: 2015-08-05
Overall rating: 2/5
Employment status: former
Experience level: Confirmed

Private Client Banker
Pros: The Co. has bar none the best technology in the business. The most up-to date software out there along with security measures for customer's information protection. There is a lot of training access to materials to help you. It has benefits that are typical of any Fortune 500 Co. even though the health benefits for the retail side isn't all that great. The benefits include: 401k/Co. 5% yearly/match, ESPP 5% employee discount, etc.
Cons: I don't know even where to start, so lets start with the Career Choices: if you work in JPMorgan on the Retail side, you are screwed, to put it lightly. The Co. doesn't care for your future. You are STUCK in Retail for EVER. Management is useless and almost ALWAYS younger than you or close to your age. If you are a manager, that doesn't mean opportunity for you, but: Low Pay, Just "Winging" your career and not a solid foundation, because you cannot RUSH experience. What it means for JPMorgan is: Make a "Quick Buck" because they have very aggressive people, by “piles”, that just want to "move up" and JPMorgan can in the mean time pay them less as employees, with the promise to get promoted,, in other words, they will take advantage of that.
This is a recipe for disaster in your career. They have an incentive Plan called "PVCs" (Product Value Credits) that are based on a Monthly Plan, you have to meet the goals EVERY month, not quarterly like most financial sales positions in this level, but yes monthly! Your stress level is high because you are always thinking about PVCs. And I know some of you may be thinking: "Well you knew what you were getting into when you took the position". That is not entirely correct. Pre/Mid Jaime Dimon, CEO of JPM, these super aggressive goals didn't exist. The company is moving VERY swiftly to technology assisted based banking, which it should, but in the mean time the employees get no slack, the branches still open till 6pm, even though the rest of the "Big Banks" close at 4-5pm, they keep paying the lowest salaries, because they justify it by saying: "this is a performance based Co.", but they keep cutting the incentive plan sometimes every quarter, therefore reducing your ability to make more money. At the end there are 2 victims here: Clients, because there is less service, and employees, because there is less "walk-ins" and more "cold-calling"= more tough commission environment. Management, since they have an incentive to make their yearly goals have no idea how to be honest because the system is pit against your best interest and theirs, and the latter ALWAYS wins. The bankers and Mgers treat customer by importance of bank account size, in other words you are treated well based on how "big" your next bonus check could be. Horrible. This is how bad it is, when you leave, it's against Co. policy to not even give you a recommendation letter, regardless if you leave on good terms.
The employees satisfaction is abysmal, you cannot find people that say it is worth it to work in an environment like this that are being honest with themselves.   
If you want stability in your income, family time, and also, most importantly, peace of mind for your health, stay away.