Recently saw a posting for this program go up. Can anyone cast any light on what it actually is? From what I understand it's a 1 year program, then after do they cut you or are you asked to stay on given good performance? Insight into comp and details about the program would be appreciated as well!
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Just means that you get to work 100+ hours a week for 3 years instead of 2.
I took the video interview a couple nights ago. Was some behavioral but mostly technical.
Why did this get monkey shit...
because there were not technical questions at all and this guy is just trying to scare off people doing the Hirevue.
Can you shut up? Thanks
lol didnt you just troll too tho...
if anybody is interested:
1) strengths 2) why JPM 3) team work 4) challenges
Has anyone heard from JPM yet?
They said in the video invite email that we'd be getting a status update in mid-January so I'm just trying to see if anyone has gotten said status update.
is it really phone interview the next step since other big banks would simply give you a superday invit
Invited for a phone screen as well. I am assuming it will be behavioral. Any insight?
judging by prior years forums seems like it can vary based on your interviewer. some people reported having stumbled on technicals while others didn't seem to encounter as many.
I'm wondering if its 1 phone screen or multiple phone screens?
Contacted HR & they replied that next round will be a Super Day in early March if you pass the phone screen. Expect an update in the coming weeks after you complete your phone interview
delete
Best of luck to those applying to the role. I had previously interned at JPM and worked with the IB group where I became acquainted with 2 people in the Junior IB Analyst program. A few months after my internship ended, I followed up with them to see how they were doing.
One was dropped after the program ended, along with at least 7 other junior analysts out of approximately 30. There was no bonus for anyone, return offer or not, and the team worked them 110+ hours every week for the last 2-3 months of the program to fully utilize them knowing that they would do anything to receive the full-time offer. Based on what he said, the Associates just maximized the ability to get the JR analysts to complete as much grunt work as they possibly could. And since he was originally placed in a group that did not officially staff him on any significant live deals, nor was he enable to develop many transferrable skills, he had a very difficult time looking for full-time positions after getting dropped.
The other one I knew had received his 1st year offer; he was very charismatic and seemed very well-liked by the associates on his team. However, the Junior IB Program is essentially a "Year 0" analyst program, so he will need to work another 3 years in order to be promoted to Associate. He is currently beginning his 3rd (but actually his 4th) year as an Analyst.
TLDR - just beware: 1 year long internship entailing very typical intern responsibilities; few transferable skills to lateral afterwards; no bonus; constantly get taken advantage of; "Year 0 Analyst program" -> 4 years of Analyst to become Associate. Great deal for JPM to utilize unemployed college seniors at a discount.
Pretty familiar with the program. Everything about this post with the exception of spending 4 years as an analyst is wrong. JPM made $25bn in net profit last year. You really think they're concerned about saving a few bucks on a couple analysts?
I am simply going off of what I was told by two people who were actually in the program. Both felt it was very exploitative. My apologies for the misleading TDLR - The one who received an offer had received a paltry $20k stub bonus, which served essentially as his signing bonus into his Year 1 Analyst role. So despite the fact JPM made $25bn in net profit, the firm is quite evidently not highly focused on using these billions of dollars in profits to highly compensate junior employees.
Additionally, there are not just "a couple" of analysts, there are at least 30 junior analysts, so yes, it would be quite smart for a firm with profit-maximizing incentives to hire junior analysts (who otherwise would be unemployed) and pay them $80 to 100k all-in to work at JPM, and overwork them for a whole year doing grunt work and menial tasks that can't translate well in a PE interview, while motivating jr analysts with the hopes of getting a return offer, rather than hire 30 regular analysts and pay them all $120-150k and witness half of them "check-out" after receiving their buyside offers several months into the job and then leave after 2 years.
Furthermore, the 4 years problem that you confirmed just further supports the idea that the Jr analysts get exploited to the max. If the junior analysts truly developed significant transferrable skills during year 0, and if the firm was truly all about growth and mobility and compensating employees well, then it would not make any sense to force the junior analysts to spend an additional 3 years as an analyst before allowing them to become an associate. Firms such as Goldman Sachs, promote analysts to associate after their 2nd year, rather than after their 4th year. The management strategically holds junior analysts back professionally in order to milk them for their labor.
While this is still a great opportunity for students who have nothing, it is clearly just a better opportunity for JPM to trap desperate students. A great dealmaker knows how to make the other party believe that they are the winners from the deal, and that is exactly what the JPM junior analyst program does.
Looks like you owe a lot of people your left nut
First of all, sincere congratulations to those who got invited to the Superday. Hopefully you guys will make it through.
As for those of us who didn't, life goes on and it's just on to the next one. You realize how great your life is when the worst thing that could happen is that you didn't get a job at JP Morgan. Don't get me wrong, I was devastated when I saw that people were getting those e-mails, but then I realized that life goes on and when one door is closed, another one opens.
So tonight I celebrated life, I bought myself a nice filet mignon steak and a good bottle of red wine, had a great dinner with my girlfriend and toasted for the future. I hope we can all learn from this experience and live our dream, even if we might have to take a detour on our way there.