J.P. Morgan Junior IB Analyst Program

Does anyone have any insight into this program:

https://jpmchase.taleo.net/careersection/2/jobdetail.ftl?lang=en&job=14…

Says it is a one-year contract, while the typical role would be for two.

938 Comments
 

They are saying bump b/c they want someone to provide information. As it says, it is just a one year role but the expectation is that it would be a feeder program. Expectations are that some will continue on but it will be very competitive. Tailored towards people who wouldn't normally get into the analyst program (at least for now).

I say for now because it is in the first year and most targets probably already have jobs. Pretty sure it is a response to BB's looking to cut junior bankers hours. JPMorgan has said they are giving a weekend a month to all analysts and said they were going to increase analyst headcount a la you get this.

Wouldn't be surprised to see JPMorgan do this recruiting earlier next year. Also be interesting to see if any other BB's are going to open up again to increase headcount.

 

I did...told me they like me, i "made it through the first screening" and are seeing which groups would be a fit. Told me they'd be in touch within a few days. Not sure what all of that means...anyone else hear back?

 

I interviewed Monday in NYC as well; I believe the HR rep said we could expect to hear back in about a week. Although if they've already reached out to some people that doesn't speak highly for my chances.

It might also be worth noting that the position's status on the career website was changed to "interviewing candidates" on 4/3.

 

Wow this is pitiful on JP's part: they're further subjugating the non-target kids, creating a less prestigious "junior analyst" position because these non-targets just aren't good enough for the regular analyst program. You're going to have a 22 y/o Ivy kid who's an analyst shit on a 22 y/o SUNY kid who's a junior analyst. What a load of shit.

 

I heard back on Friday and they extended a verbal offer. I think non-target is being taken out of context here because, yes it does include kids from non-ivy/non-target, but this program also looks for target/ivy kids that didn't go through their traditional recruiting channels. I'm graduating from Columbia this May and thought I wanted to do consulting.

 

I heard back last Thursday.

I'm not concern about the title, I was suppose to go prop trading but decided in February it was not for me so this was a great option . Btw I am from a Ivy-type school and so were alot of others - I think the term non target was taken out of context.

 

Just curious - since this recruiting process is non-traditional and may include people without much of a finance background, how technical were the interviews?

 
TooShort

Any additional information on this program? I.e., how do responsibilities differ your first year, and what are prospects like after your first year?

Would like to know this as well. Also, what is compensation like?
 

So I've been in touch with a JPM recruiter via a referral from an exec. He gave me the following info on this program last week:

Same workload and responsibility as analyst level, though training period is slightly shorter. It is considered a "0 year", compared to 1st year for analysts. It is a one year contract and the 2014 Jr Analysts are competing for 1st year analyst spots now. Phone interviews would be in February, on site interviews in March, offers extended in April, and a start date I think on June 8th. Hope that helps, fellow chimps.

 

Competing for 1st year analyst spots? Do you get the sense that this would be something like... as long as you don't mess up majorly during your Jr Analyst year, you could easily get into the regular analyst program?

 

Competing for 1st year analyst spots? Do you get the sense that this would be something like... as long as you don't mess up majorly during your Jr Analyst year, you could easily get into the regular analyst program?

 
facob24

So I've been in touch with a JPM recruiter via a referral from an exec. He gave me the following info on this program last week:

Same workload and responsibility as analyst level, though training period is slightly shorter. It is considered a "0 year", compared to 1st year for analysts. It is a one year contract and the 2014 Jr Analysts are competing for 1st year analyst spots now. Phone interviews would be in February, on site interviews in March, offers extended in April, and a start date I think on June 8th. Hope that helps, fellow chimps.

'Competing for 1st year analyst spots now?' Thought those spots were filled last summer by the interns. Did I miss something here? Can anyone offer some clarification on this please?
 

I'm sure there would be a separate pool of spots saved for these "junior analysts," and for summer interns that don't get an offer or choose not to go back it seems likely that "junior analysts" can be filled in (based on of course performance).

While this seems like not too bad of an idea, the stigma of being a "0 year" analyst in the group you're placed in seems brutal. 1 year as a "0 year", and the standard 3 year JPM program would make for a 4 year analyst. Unless of course they exit after only 2 years of the standard program.

 
lptse

Anyone can provide some insights on what kind of questions are asked during the phone screening? Thanks lots!

It's a real grey area. I asked HR if the email we got saying that we moved onto the "matching" phase was a concrete offer and the answer was no...

But then at least 2 of the guys I spoke with out of maybe 6 or 7 people said "congratulations on receiving an offer for the Junior Analyst program" so I am not sure what to think.

I think that it is safe to assume that unless you have a piece of paper with a stated salary that you sign, you do not yet have an offer. Or at least that's how I've been treating it.

 

did those 2 guys first get an email saying they have moved onto the "matching" phase, then a separate email with the "congratulations on receiving an offer" email?

 

Its for seniors graduating this semester. Phone interviews over the next week or so, superday in mid March, offers in April.

I have a phone interview this week. Will post anything I find out through that process.

 

I currently work for JP Morgan in another division, and will also be interviewing for this program. I can confirm that it is a "year 0" program, however, I do not know what % of JA's will be offered a position into the regular Analyst program after the year is up. My guess is all who are able to consistently perform at a high enough level and work well with their corresponding analyst team will be offered the opportunity to continue as analysts. If you can keep up with the work, it wouldn't make sense for them to drop you just to have to spend money to train somebody else from scratch.

 

@"Waymon3x6" I recognized that you just interviewed yesterday. I also got an email saying that someone will reach out but still haven't heard anything. How long did you hear from a banking team? Was the initial email from a HR person? I'm a little worried so it'd be great if you can share some details. Thank you very much.

 

Had my phone interview today. A mix of technical and qualitative questions. They didn't ask anything that isn't found in any IB guide. Candidates should be hearing back about the superday early next week.

In pursuit of four monitors...
 

HR emailed me two weeks ago said I will be interviewed in the next two weeks. Not hearing back since. Anybody know anything about it?

 

@"Jimmyxll28" I also got an email from HR on the 10th saying that a person from Product/Coverage group will contact me over the next 2 weeks to conduct phone screening but have not heard from anyone yet. @"Aussie123" Congrats on completing your interview. Did you get an email from HR as well before someone from Product/Coverage group contacted you for the interview or how did it work for you? Thanks.

 

@"Jimmyxll28" I also got an email from HR on the 10th saying that a person from Product/Coverage group will contact me over the next 2 weeks to conduct phone screening but have not heard from anyone yet. @"Aussie123" Congrats on completing your interview. Did you get an email from HR as well before someone from Product/Coverage group contacted you for the interview or how did it work for you? Thanks.

 

Just to be clear on this, the Junior Analyst position is essentially a contractor or intern of the firm rather than a full-time employee, meaning no 401k, health insurance, other benefits, etc., correct? Has anyone got clarity on this during their networking/interviews?

 
cozylizard

did anyone else with a phone interview seem to get placed into a particular coverage group already? (i.e. TMT)

I believe you won't be placed until after the superday. You will meet with bankers from different groups there, and they will assess your fit and technical ability and place you accordingly. Just because you interviewed with a guy in TMT for the phone interview doesn't mean you are interviewing for that group, if that's what you were implying.

 

Had my phone interview yesterday. The person who interviewed me was from the DCM group. Very nice and casual (not too casual, though). Nothing too difficult. Mostly told me about themselves a little, the role, and asked me to explain my background and interest in JPM.

Then they talked about the next steps--that I should be hearing back sometime within the next two weeks about the super day. They explained that, though it was an interview with someone within DCM, it's totally random, so that's not the group you're interviewing for. Something interesting... they asked, given my background, if I would be more interested in a product group or coverage group.

Overall, I felt great about it and I'm excited about the prospect. Take note, your interview may be totally different than mine.

 

Had my interview today as well, no technicals surprisingly :-/ but they said that they are going to keep phone interviewing until mid next week and that we will find out if we are invited to the superday within two weeks. Interviewer also mentioned that they had 30/35 Junior Analysts last year and "most of them are coming back to join the 3 year analyst program."

 
BernieMadeoff

Had my interview today as well, no technicals surprisingly :-/ but they said that they are going to keep phone interviewing until mid next week and that we will find out if we are invited to the superday within two weeks. Interviewer also mentioned that they had 30/35 Junior Analysts last year and "most of them are coming back to join the 3 year analyst program."

This is very interesting. My interviewer said that it is only February and they wouldn't know how many junior analysts will join the full-time program until later. Anyone else has heard a different story?
 

To everyone/anyone asking for advice on technicals - stop asking. We are all competing for the same spot, so no one in their right mind is going to give their competition a leg up. My best advice would be study the guides, DONT just memorize the answers - have a good understanding of the driving factors behind them. All the questions asked were in the 400 ib interview question guide. Best of luck.

 
Waymon3x6

To everyone/anyone asking for advice on technicals - stop asking. We are all competing for the same spot, so no one in their right mind is going to give their competition a leg up. My best advice would be study the guides, DONT just memorize the answers - have a good understanding of the driving factors behind them. All the questions asked were in the 400 ib interview question guide. Best of luck.

My thoughts exactly. Also, every interviewer is different and some lean on technicals more than others. Just treat it like a normal ib interview.
 

When will the candidates know whether they got selected for superday?

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
 

Just had my screen with a SF tech analyst. Some technicals... but I work at a boutique so for me it was not anything to think about. 400 question guide is probably enough.

She said they are making decisions tomorrow and that I would know if I advanced by this Sunday at the latest.

 
junior B

is anyone sure that super days are during the week of March 16?

In the email they said so. Just done with my interview. No technicals, even though I wish there would be some.
 

What are you studying in school? Have you had finance related internships? I'm wondering why some people go so many technical questions and some didn't..

 

I did my phone interview on Thursday with an associate and they told me that someone would contact me in the next week. I was not told by Sunday..

 

Yea I thought the same.. It probably depends on the experiences of the applicants.. I think some people who have had ib experience got less technical questions and more behavioral.... it also seems like this program isn't just for undergraduate seniors.. but also for people who have graduated about 1-2 years ago as well..

 

I don't have an IB background and didn't get a ton of technicals. I think the interview was mostly based on fit. And yes it is for recently grads as well. Anyone have any idea how many people they are interviewing for x number of spots? Curious how competitive this is compared to their regular analyst program. Any insight would be appreciated

 

Some people are interviewing for positions in San Francisco, others are interviewing for positions in NYC. Those for San Fran will find out sooner than those for NYC. NYC guys will probably find out by the end of this week or early next week.

My interview was strictly walking through the resume and then a little more detail on some of my resume items.

 
WallStreetMoney

Some people are interviewing for positions in San Francisco, others are interviewing for positions in NYC. Those for San Fran will find out sooner than those for NYC. NYC guys will probably find out by the end of this week or early next week.

My interview was strictly walking through the resume and then a little more detail on some of my resume items.

I didn't even know SF was an option..thought the program was only in NY, at least the job posting says NY.
 

Is this position for graduating seniors? why are they interviewing so late, i thought FT recruiting was Sept/Oct for most BB's

"I've never seen a Ferrari paid for by what people think." - ANT
 

It is a non-traditional program man. They are looking for the people how didn't get FT IB jobs and looking to give them 1 year chance to prove themselves (albeit at a reduced salary). It is smart for them because they can hire analysts at a lower costs and have more flexibility in the event of a market downturn

Different note: How many people do you all think are interviewing? 120? 200?

120 people for 30 spots (4 to 1) would definitely be less competitive than their normal analyst program.

 

gotchya, just out of curiosity did any of you guys have other prospects lined up (outside of IB) during FT recruiting? or is this a last minute effort to find a job post graduation

rising senior here, went through JP IBD SA recruiting with no offer...feel free to pm definitely interested in this program next year

"I've never seen a Ferrari paid for by what people think." - ANT
 

Correct Rob Bob...

I am interested to know how many people they have spots for as well. I believe someone posted that 30/35 were in the program last year and if anything this year the job market is heating up so I would say expect 35/40 if I had to make a ball park assumption. However, who knows how many people are competing for those spots ...

 

I'm not sure how @WallStreetMoney knows, but I can confirm. 300 are getting phone interviews, about 80-90 will advance to super day. Some will get a hard yes, others will get a soft yes. It's for 30-35 spots in SF, Houston, one in Chicago, and the rest in NYC.

That's 30-35 in total. Should be hearing about super day mid- to the end of this week. Just be patient, and best of luck to everyone!

 

Do they also email you even if you don't proceed to the super day? My interviewer didn't tell me when I'd be hearing back on the phone interview result, so are you sure about mid - to end of this week for the result?

 

I don't recall exactly, but I do know that it's only one in Chicago, 20-something in NYC. Don't remember the exact numbers for Houston and SF.

EDIT: Oops! Forgot to say how many in NYC!

 

@"diddy58" They will have a list for those whom they really want (that's what I gathered), and those who will be more on a "waitlist" type thing.

@"TAAJulia" I'm pretty sure sometime between Wednesday and the end of the week. Though I am sure that could vary.

@"lptse" I am under the impression that you will be informed either way. My experience with JPM is that they do tell you when you have not been selected, which is nice.

Just... be patient and hopeful! Know that you did the best you could do and be happy with whatever answer you get. That we got a phone interview to begin with really is a feat. So we should be happy with that, at the least!

 

I heard it depends on the person. Both of the junior analysts I spoke to said don't let the title hold you back. If you're good you will get the same work.

 

Became pretty friendly with my interviewer so we had a pretty candid conversation about the program. Here's three big takeaways that I got from the conversation:

1) They have not decided how many of the current Jr. Analyst class will be returning into the traditional program. However, my interviewer stated that the plan is to bring back those who have done a good job. It did not sound like they had a limit on the number of JAs they would bring back.

2) The type of work a JA does varies based on the person. At first, it will be more basic work -- creating the graphs for a pitch book, general stuff. As time goes on if you prove yourself you could become the only Analyst working on a deal just like someone in the regular Analyst program.

3) You are not working for the traditional Analysts. The JAs are staffed by an Associate. Regardless, those complaining about having to do the grunt work probably shouldn't be applying to this program anyway. You'll do this in any lower level IB role.

All in all, it seems like this is a really good program for those of us that weren't able to break in through the regular process. Yes, you have one year of "less money" and you have the word Junior in front of your title, but who really cares? You're still making good money and have a good job. If you go in there and work your butt off, no one will remember in five years that you started your career with that extra word in front of your title for a year.

 

All in all, it seems like this is a really good program for those of us that weren't able to break in through the regular process. Yes, you have one year of "less money" and you have the word Junior in front of your title, but who really cares? You're still making good money and have a good job. If you go in there and work your butt off, no one will remember in five years that you started your career with that extra word in front of your title for a year.

Word

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
 

She told me I'd receive feedback either way so I think Rob is probably correct. That said, the superday is in two weeks. It's already getting tight to schedule as flying in for a full day of interviews probably means missing 1-2 days of work at a minimum. Seems strange they would be taking so long for decisions.

 

I reached out to HR on Friday, but have gotten no response. Like Rob said, I think we just need to give it a little while. I was told that we would find out either way, so there's that.

I was also under the impression, though I am probably totally wrong, that the no's would come out sooner. But I dunno... we just have to be patient. These things can be very slow (unless they tell you that the turnaround is very quick).

 

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"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
 

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