JPM Private Banking - Opinions?
Does anyone have an opinion on JP Morgan's summer analyst program for private banking?
More specifically - Which groups are the most desirable to be in? What are the hours/lifestlye/culture of the NY office? Is this a good place to start a career (considering all the regulations that are about to hit banks)?
If anyone has any info I'd be really grateful.
did u just get an offer? interviewed more than a week ago and havnt heard back...
Any news on superdays for JPM Private Bank?
I didn't go through the normal recruiting process so I can comment on superdays. Does anyone have any info about my questions?
do a search, there is a wealth of applicable (even if it's from a couple of years ago) information. Make sure to pay close attention to what tan86 writes, he hits the nail on the head
regulations aren't a problem....it's private banking not prop trading. Only way the regulations have affected this arena is how many forms the clients have to fill out.....which can be very annoying.
From my experience as a summer intern in NY:
product groups are most desirable to be in. It is a good place to start a career but will pigeon hole you into wealth management....getting in a product group...FI, alternatives, credit, or others will help to be more transferrable to other areas. That being said, it doesn't mean you couldn't move to another area in finance....just not as easily as IBD. JPM PB probably is the best out of all wealth management to transfer to other divisions because of its name and broad platform.
As for the internship, it is not going to be a cakewalk like this site seems to think of wealth management. It also depends on your specific team. It is a fast paced environment and a lot will be expected of you as an intern. interns work on avg 14 hours a day, some more some less. Def not less than 12, expect 14 to be the norm.....again it really depends on your specific team...I cannot stress that enough. Culture is conservative and there are very bright people there.
Good place to start a career...not as good as IBD though. A lot of room for upward mobility. If you are a decent intern...you will get a FT offer most likely...get coffee with senior people as often as possible. They like to promote from within and push hard for Analyst to Associate promote after 3 years.
Let me elaborate on the transferring to other areas in finance. It will not be NEARLY as easy to transfer to other areas of finance as IBD. You will have to pull all your strings and do well in interviews. If you are not good in interviews....you will not make it..because you will have to spin your experience a lot. It is like coming from a non-target. So if you want to go into IBD or PE in the future, a boutique (or BB obviously) IB would be a better path...not private banking.
Only if your definition of "other areas of finance" is PE. There is a whole wide world out there and IBD experience can be pretty irrelevant too despite what some people seem to think.
JPM Private Bank Program (Originally Posted: 03/28/2013)
Is the JPM PB program just for recent college grads? I was searching for jobs at JPM for "experienced professionals" and the PB program came up.
I graduated with a degree in international affairs in 2012 and got a job with a small hedge fund (just shy of 100 AUM) in June. I really like my job but it's a very small team and the growth opportunities are quite limited. I'd love to do a program like the PB program at a big bank where there are more growth opportunities, not to mention name notoriety. Unfortunately, most of the "professional" jobs at JPM require a lot more experience and CFA/MBA/etc.
So is the PB program an option for me? Any advice/suggestions would be greatly appreciated :)
I would say yes. From what I understand through research and experience (I interviewed with JPM PB) the analyst roles are for recent college grads and possibly people with 1-2 years industry experience. If you get your licenses and 2 years ish experience you can try and lateral into a "banker" role within the PB and then begin working your way up from there.
Most new bankers are in their early 30's. 2ish yrs exp and licenses you'd come in as a 2nd or 3rd year analyst, 3-5 yrs ish exp and licenses you'd come in as an associate
So if i only have 9 months of industry experience, i could still theoretically be a JPM PB analyst?
Are you located in DC by any chance? Just wondering because I have an international affairs background (graduated in '10), am located in the greater DC-area, and will take your job once you leave! :)
JP Morgan Private Banking Analyst program HK 2014 (Originally Posted: 10/25/2013)
Hi everyone
I'm currently interviewing for the 2014 JPM PB analyst program, anyone else doing the same?
I am doing the same thing. I had a first round interview with them this Monday and haven't heard anything back from them. I thought that I passed the 1st round interview because my interviewer mentioned HR will reach out to me for a 2nd round interview anytime soon by this week... Anyone who has heard back from them?
Hi mainstack Is this for HK? Also, did s/he mention the nature of the interview? Ie whether it would be phone or otherwise? Did s/he say they will contact you with an outcome or did you have to ask for it? Also, are you based in Hk or overseas?
have an interview today actually... keep you guys posted
Hey am-worthersee
Is this first round phone interview?
My cousin is doing the same i heard. Best of luck to you.
2nd round Interview on Nov 15 at the SF office. Anyone coming from the Bay area?
2nd round at NY office on the 18th
Good job mainstack and bwanaD! Although I'm going for the HK office....
Hey guys, I did my 2nd round last week too in Cali. Did you get much info about when we'll hear back regarding superdays? Cheers!
Mid December it should be according to the HR guy during the lunch. (i asked him)
Yup, got mid-December as an answer as well.
Hey mainstack and bwanaD, have you guys received any updates yet? I got an email about a networking session but I know of a HK friend that said he's "through to final rounds", though not sure if he's talking about PB.
no, i haven't heard anything. Are you based in California?
When did you hear back?
Hey guys, you guys can check your application status for next step on the JPM Career website. Mine is ..'unsuccessful.' I am too sad... and it's really depressing because I really put my heart in it... gluck guys
Hey how did you guys go in the superday?
I haven't heard back about the superday yet.
Hey bwanaD, any news from your end??
News anyone?
Nothing yet...but I'm not expecting it anyway, it's holiday season. Relax and enjoy, we can worry in Jan.
Where'd you do your second round Hopeful?
Hey so did anyone hear back?
Hey hopeful, no news either..it's been pretty long.
Hi Hope5 and Gigi-W! How are you guys! So has any of you got any updates? I ve attended this christmas event at HK Office and haven't heard back since. So just to check if anyone receives the final notice~
Hi chimpchimp, didn't hear back.. You're HK based?
I attended 2 rounds of interview and a networking session so far. Last round was in Jan. Still awaiting any answer
So has anyone got any updates so far? Do you think it's appropriate to ask HR about our status?
I had the final round recently. I know a few others who had it and some have already got offers. But I think the schedules really vary greatly depending on the roles and teams your are considered for.
Hey Toa
Do you mind telling us a little bit about your background in terms of what previous experiences you have and in which country you're currently based? What did they do at the superday? (might reapply this year, already rejected)
Hey everyone, seems like this thread is for HK applicants … don't suppose there's anyone here that applied for Singapore? I am in the same boat as most people, waiting for news after the 2nd round.
actually I applied for singapore, and didn't hear anything since AC....what's the matter now?
Hey so did anyone end up getting an offer?
Still haven't heard back.. Am I still in the running?
Did you guys eventually hear back from them in the end?
Best approach to getting into JPM private banking (Originally Posted: 06/10/2016)
I'm interested to trying to get into PB/PWM at JPM and curious as to what would be the best way for me to try to get it. My situation is that I go to a non target school but I have a bit of work experience. My work experience will be three internships with two large companies, one including a GS operations internship. After this summer I'll be an off season intern at GS in their operations division. This offseason internship will allow me to do one of two things.
First, I could complete the GS off season internship and finish my schooling that next summer and try to get into JPM PB/PWM fulltime. Or second, I could complete my internship but try to get into JPMs PB/PWM internship program and finish school that following fall after another internship. Also, note that I have been talking to a few people within JPM which could be of help as referrals.
I'm also wondering when recruitment will start?
Also interested in the full time JPM PB recruiting timeline.
Why are you so dead set on JPM? It's not a good choice to pigeon hole yourself to a single firm when all BBs offer the career path you're interested in...
I'm not dead set on them. Of course I'll try my hand with all BB but i'm just using them because it's the PB that I'm most familiar with and most connections with.
Just keep doing what you're doing and plug away. I was a non-target with similar work experience. Aside from that: 1. Network, meet as many people as you can and leave a good impression. 2. If you have any savings, put them in a portfolio (mutual funds, ETFs, investment trusts), win lose or draw, your knowledge will improve and you'll keep up to date with the markets. Super-useful for interview.
JP Morgan Private Bank Chicago Office (Originally Posted: 02/09/2013)
Fellow Chimps,
I am currently interviewing with JP Morgan and their Private Bank in Chicago. I was curious if someone can tell me more about the products offered and the investment solution teams based in this office. For instance, I read that the Alternative Investments Group (AIG) is present only in New York, Hong Kong, London and Geneva, but not in Chicago.
Thank you in advance for the help, In-the-money
Hey In-the-money
How did you go? DId you get an offer?
I'm pretty sure all the solutions teams are based in the geographical HQ for each region while the branch offices are more for the local touch
JP Morgan Asia Private Banking 2012 (Originally Posted: 01/17/2012)
Has anyone heard back from them for the 2012 full time analyst position after the final round interview?
BUMP
For banking (or any job) in general is it true that you will get a better compensation package if you start out in the US and then have your employer send you overseas after say 2 years?
I heard this from an inside source who currently works at JPM PB overseas but would like to verify it or know to what extent will the package be better.
It's probably true.
WOW... no one on WSO interviewed for the same position? Come on guys, don't be shy.
hi, i interviewed for an asia analyst position and it has been 3 weeks and i havent heard back.
well yeah, decisions haven't been made yet, but it should be soon tho
thanks for the info Gekko. btw how do u know, campus recruitment aint replying my emails :(
hmm, was your final round interview for positions in Hong Kong or Singapore?
Singapore. though i understand campus recruitment for the program is based in hk. how was your interview?
Ah, for me, the final round was for Hong Kong.
all the best & do keep me posted if you get any news :) tks!
Will do. Keep me updated too.
JPM PB London (Originally Posted: 03/19/2013)
I applied to JP for the Private Banking FT analyst program last Oct. I completed the numerical tests but I never heard anything back until the last few weeks. I already have an offer from another BB but I wanted to try out the process.They emailed last month to ask if I had any pending offers and emailed again today to tell me they're still considering me.
Surely this is just a glitch....no way they're still recruiting for FT??
This all started out when GS got rid of the "structured" analyst program since to many analysts were leaving for other positions before the 2 years was up. BBs wanted to find a way to weed out candidates before they start so there is a new honor system among the BBs.
HR talks to each other to see who has offers and then have other banks reach out to candidates. The point is to make sure you won't just jump ship when a better offer arrives, proceed with caution.
reality: a position opened up, have extra headcount, someone declined offer, etc
Someone could have dropped, someone could have said no, andy number of things could have happened. If you haven't accepted your offer at the other BB and want to consider JPM then respond to the HR person and tell her that. If they know you have another offer maybe they will quit fucking around and give you an answer.
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