Company: J-P-Morgan
Date: 2010-01-30
Overall rating: 2/5
Employment status: current

Great Overall Firm, unless your in Retail Financial Services
Pros: Excellent name and Reputation.  With all the problems most financial institutions have had, people recognize JPM Chase as best of the best

Excellent, Pay and Benefits package

Huge market share, access to existing client base.

Worldwide operations, spanning many countries.  Opportunities for advancement and transfer across lines of business are endless.
Cons: Aggressive Sales Techniques:  Managers telling you that if you work at a bank long enough you will eventually have a compliant filed against you.  You are encouraged to tell clients one thing to get them to move assets over to JPM Chase and then do something different once the assets get under our control.

Unrealistic sales goals:  Sales goals are based on National not regional averages.  Which means what is low to mid in NYC, is high in Texas.  In addition select people who are mediocre/average hang around long enough and are able to accumulate assets through others leaving, after a while this person is held up as a shining example for producing revenue and bringing in clients over a 5-10 year basis.

Building client relationships is a no-no:  We are not allowed to communicate with clients by cell phone and not encouraged to communicate by email.  Appointments are encouraged to last less than 45 minutes, with 2-4 minutes of rapport building.  

Managers have no experience in your field:  Many of the managers have 10 years+ experience, with 3-5 in management, but none in your field.  So they lead you in theory and by what they read in a book or what they learned in a week long training class.  Not actual job experience.  That’s akin to a recent political science graduate from Harvard, telling Karl Rove or David Plouffe (both college dropouts with real world experience) how to run a presidential campaign.  Who would you listen to?