I was wondering if anyone had any thought regarding this JPM group such as WLB, compensation, day-to-day, etc. I couldn’t find out much in their website and was wondering if anyone had any insights.
Also, I was wondering what the interview process for the FT analyst role was like (behavioral, technical, etc). Thanks!!
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Not super familiar with the role, but given no one else has responded here I'll share what I can.
From my understanding, as a payments analyst, you'll be working on a team that partners with corporate bankers to cross sell (and implement) cash management products to bank clients/prospective clients - such as business checking/savings accounts, wires, ACH, credit cards, credit card processing, etc.
Not really similar at all to investment banking which is why you probably aren't getting much info here. At the end of the day, I'd think its closer to a tech sales gig than a true "finance" job (i.e. banking, ER, S&T, Corp Dev, FP&A, etc.).
I'd guess WLB is probably 40-50 hours weekly (slightly more than a general "corporate America" job given you are still working in a client facing roll at a large bank). Couldn't speak to pay, but again would guess more than a generic sales roll at any old company, but markedly less than IB. Maybe $80-90k? all in as an analyst, as an MD, extremely dependent (as all sales jobs) but $200-300k-ish would be my estimation.
I’m a bit familiar with the group although I do not work in it. Payments is basically treasury sales. This mainly involves cash management/FX accounts/payments. It’s essentially a product group that works with CIB clients (large corps, government, financial institutions, etc) alongside coverage bankers (GCB). It’s also important to note that there are many subdivisions within the group such as sales, implementation, and client service. Compensation and WLB should be good but I do not know the exact numbers.
Work at JPM and am somewhat familiar with payments group. Base is same as Corporate Banking at $100k. Bonuses are typically btwn 10-20ish%. This is for Analyst 1. I believe base increases by $5k each year as an analyst.
Like the posters above noted, it’s focused on sales of treasury products to large corporates so you work often with GCB. Your best exit is to move into GCB but can also move to the Commercial Bank as an TMO.
IB exit from payments is extremely difficult / not likely. Most payments guy are lifers. Group is growing very fast and management is focused on expanding the group so it’s less prone to layoffs
If you are interested in actual finance, do not go into payments. It’s a sales role basically with no exposure to actual financial modeling or analysis. Go for GCB or CCBSI if you can - much better roles than payments and can move into IB seamlessly from both GCB and CCBSI
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