J P Morgan Operations and Business Services
Does anyone know how to go about preparing for this interview? What kind of questions are asked and what kind of things should I know?
Does anyone know how to go about preparing for this interview? What kind of questions are asked and what kind of things should I know?
Career Resources
Interview is pretty easy 30-45 minute... mostly behavioral questions (i.e. tell me a time you failed, what are you're biggest strengths) also make sure to know the history of JPM and the 6 divisions within the firm / relevant statistics, any relevant recent events (Implementation of the volkner rule, card act, etc ) depending who you are interviewing
what location are you interviewing for?
Do they ask what are the 6 divisions? Or u just spit it to show that you researched
They actually have 6 major divisions in the bank: IB AM Retail banking Commercial banking Card Services TSS
hey is there a round 2 for this interview? my interview slot is one hour and most of the other round 1's are only half an hour long
I'm interviewing for the position in Newark, DE. Also, what kind of information should I know on the history of JP? In regards to the six divisions of the company, how detailed should I know them?
great group and great division. JPM rocks and is on the way up. i know kids who take ops and business services over IBD at BBs like ubs and ms.
The kids you know that did that are stupid... unless they wanted a career in Ops?
i thought people mostly do ops as a way to get into the industry? / high turnover
Know the leadership as well. Dimon, Staley, Erdoes, etc.......
Ok, thanks for the advice...I'll make sure to prepare for that...i have a feeling they are going to ask why this position, and I really don't have a great answer to that, any ideas?
Cobra what's your gpa if you don't mind me asking. I applied for this position as well.
Yeah that helps a lot....If anyone else has anymore advice on the preparation for this interview, I'd appreciate it...Otherwise, thanks
make sure you know your resume cold (goes with out saying), know company history (i.e. bear stearns and washington mutual), the 6 division of the firm and how it plays into their "fortress balance sheet", strong emphasis on fit questions, if you have any technical abilities make sure to note them (can be a BIG leg up in OPS), if you have any experience in making a process more efficient / add value thats the stuff they wanna hear... also make sure you have good questions.. (i.e. company culture, typical work day, etc )
are you rolling up under the CDP program or is it separate?
I am looking to get into ibd eventually...I am only a sophomore though so I feel like this opportunity is much better than working at a restaurant for another summer
Has anyone heard back from this yet?
Has anyone heard back from this? My interviewers didn't notify me when I would hear back.
yeah i heard back on Monday. I had my interview about 1.5 weeks ago. they said they'd get back to me in 2 weeks though
I got an offer last week, which was a week and a half after my interview. I am waiting for other offers from other companies to roll in before I accept anything. Does anybody know what exactly operation really does and what the starting salary is? The internship pays $20-$25 per hour and $1000-$2000 stipend.
The interview is relatively easy compared to other interviews I have done with BB and Hedge. There are two interviews that are 30 minutes that are one after the other: fit (behavioral) and technical (company and industry). At my school there were at least 20 other students on the list interviewing for the one internship spot. I think they want someone who has financial experience and technical skills. I still don't have a clue in what operation does, anyone knows what operations does on a day to day basis?
JPM has like 5 different groups i think. I just know the IB Ops is like trade settlement and shit and Asset Mgmt is like new fund development, product marketing, risk mgmt etc.....But if you get a postion at a Hedge fund definetly take that of course
6 LOBs/Functional areas, no way in hell will you land in the HF portion (Highbridge and the HF they just scooped up in Brazil will not be part of the program)
The program itself is alright, nothing flashy. Operations is such a general title, as you will find yourself doing completely different work depending on the role. Some with be more finance related, others will have more to do with IT and database administration, others will have a much higher HR focus. It will completely depend on where you land.
Pay is probably 55-60k in NY, 45-50k everywhere else. Bonuses will probably be pretty minimal and you should not expect to use this as an "in". You will have a very very difficult time transferring into more prestigious areas and you will also be contractually obligated to stick out your time in the ops program for two years. After that, you will be in a really awkward spot with 2 years of experience (old for an analyst and young for an associate) and your experience wont really help you transition. If you do make the jump, it will be from pure networking.
Thanks 1Man, I heard If you get an full time offer, there is a possibility that you can do the 2 year rotational program with JPMorgan. So in the front office are you like always trying to arrange a sale and pitch a product to your clients? I am person that does not like to sale and rather do research or solve a problem.
just to clear things up, the rotational program is within the operations program, not across the firm. so you'd be switching from like HR to IT etc. you wouldn't be going into FO positions.
@1man, you're right. I was just trying to say that you can't rotate into a front office position.
Mad late on this thread, but this isn't actually true. Having been a CDP graduate, I've known people in my class who land sales and trading roles before the program contract is up. They go off to do their thing, and CDP can't do much about it. Further, there are the occasional FO rotations for the CLOB analysts-- though the competition to get these is fierce. Lastly, I graduated from this program and recently landed a FO IBD offer straight out-- as a 2nd year IBD analyst. Super rare, but obviously it can happen.
The problem is, though, that the structure of the program has now changed. Your class will have structured rotations that require you to engage in what sound like very Ops-oriented roles-- it seems like they've eliminated the opportunities to wander throughout the bank into FO-- and likely on purpose, as a LOT of analysts used this program in the past to get into FO (S&T especially) through the back door. I could be wrong about how this new structure is to work, but it seems like they're working harder to steer you into Ops and keep you there with this new program.
What the big deal with front office, is the work more interesting. I thought FO is PWM, IB, and S&T. Also I know that back office work is being outsourced to India, so is there room for growth in BO in the future? What is the career path of BO?
I was talking to an employee at JPMorgan, and she said half their support staff is in India. Also the WSJ has been reporting a lot about JPMorgan outsourcing to India and Philippine. I don't have a clue at what happens inside a large BB, sorry for my nativity.
Cobra, how did your interview go? If they like you, they usually call back in a week or so. You should take the initiative and call HR.
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