Company: J-P-Morgan
Date: 2008-09-24
Overall rating: 3/5
Employment status: current

JPMorgan Chase - Good for the investors and fat cats; not so much for the person-on-the-street
Pros: Flextime as a corporate institution--but subject to individual managers' whims; benefits coverage for domestic partners of both sexes; generally good communication about the "big picture" in the company; salary competitive and bonuses available for jobs well done; good technology (although sometimes cumbersome); benefits include so-so visual, so-so dental, good medical, health care and dependent care accounts, parking accounts (pre-tax); 401K with 100% match of first 5% of salary;
Cons: Outsourcing of jobs that should be done locally to Mumbai, India (e.g., court accountings to be filed in county courts are done in India!  The courts are very specific about their rules.  How will Mumbai know those rules?); centralization of other functions such as Tax Units, etc.  Elitist attitude about clients--"We only want clients with $5M+ in assets"; There are many clients out there with "only" $3M or $1M who may grow to $5M.  Shortsighted  management in terms of policies, etc., and not receiving input from employees who are on the front lines.  Technology is good in terms of having it, but much of it is not user-friendly to employees, and it takes at least 50% more time to use the systems while trying to help a client.  It's frustrating and demoralizing.  JPMorgan sees itself as a saviour of Wall Street (which, perhaps it was), but it's to the detriment of employees and customers/clients.  The corporate culture is not an inclusive one.  If it's not done in NY, it's not done in OH, or WV, or KY or any of the other states far-removed from NY.