JP Morgan Chase Commercial Banking Analyst Program

Highlight23's picture
Rank: Chimp | banana points 15

Hey everyone. I have a interview for the JP Morgan Chase Commercial Banking Analyst Program coming up, and I was wondering if anyone knows anything about this interview or the analyst program?

Has anybody ever had this this interview? What types of questions are asked?
Anyone know the salary they pay someone in this program?

JPM Commercial Banking Program Overview

JP Morgan describes the division below.

JP Morgan Chase:

Commercial banking provides a range of financial solutions to help corporations, organizations, real estate investors and owners achieve their business goals. We help our clients succeed while making a positive difference in our communities.


Source: https://www.jpmorgan.com/pdfdoc/Commercial_Banking...

Commercial Banking Intern Experience

One user shared a specific experience working in commercial banking at JPM within the middle market banking group.

Sunny45 - Private Equity Associate:

I am currently interning in Middle Market Banking for JPM CB. TheKid1, you are actually not quite correct. In the Middle Market, you do not actually do any IB work. You may work with IB products through the IB and be exposed to some of their deals but the IB does mostly all the structuring and face time, etc. Mostly in the Middle Market you deal with local clients with revenues between $20mm-$500mm - sometimes more or less depending on the client and their situation. Now, when I say "deal with", I mean literally structuring deals for these clients mostly in the form of a term loan or revolving line of credit. The Bankers will try to bring in other JPM products like TSS, IB, and PB to increase profitability, but mostly the team deals with credit exposure. I think the only exception is GNPH (Government Not for Profit Healthcare) and I dont think they roll up in the MM specifically.

There are two primary groups of individuals who make up the deal teams in the MM. It's usually one underwriter, who performs all the due diligence, credit analysis, etc. on the client, and then the Banker, who meets with the client and discusses their needs and evaluates management.

There are also several other segments within the CB that take interns. I see Commercial Term Lending and Real Estate Banking here. They are all similar to what you do in the Middle Market but more specialized in that group and you are not constrained to revenue limitations (I believe). Commercial Term Lending could be debt for an apartment complex that leases rooms. Real Estate Banking could be structuring the capital lease debt for a companies new office. If you want the best exposure to other LOBs and more of the IB feel, definitely go with Middle Market or if you can Corporate Client Banking (very similar to MM but with larger sized companies).

IMO, there is almost no better place to intern. The people I work with at JPM are very helpful and want to help you learn and find your niche. So, if you are interested more in the IB side, you may be able to sit it on some IB calls and get some exposure into how they run their line of business. Same goes for Private Banking and TSS. I happened to do them all. You also get to exposure to great research tools and get a general feel on how to structure a deal as an underwriter.

I know everyone thinks about pay, so I will mention it. The pay is a little less than the IB on an hourly rate for internship (2012 numbers) at around $26. As an underwriter (2-4 years) you will make close to, if not, six figures. As a Banker, you may make more than that - somewhere around $200k average but the range is much greater. Make rain and you will be rewarded. It is parallel to any other sales position.

Cries takes a subjective point of view. I also like the CB because I can get out of the office at 6pm and have a life and still make good money. You can also work until midnight if you want to stay on top of all your work, but it's usually not required (in MM). Find what you like to do and get good at it. Just my opinion.

I got the position coming out of a large school but not even close to Ivy League at all. Just understand what Commercial Banking does, be able to articulate your past experiences well, explain why you want to work for JPM and CB, and get to know the people you're interviewing with (They will most likely be senior individuals with a lot of experience in the bank and will probably have some interesting stories). Enjoy your superday.

Read more about JP Morgan Chase on the Wall Street Oasis Company Database.

Read More About Commercial Banking on WSO

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Comments (68)

Mar 6, 2012

Where? What group? Questions will depend on the group. Mostly fit and maybe some basic technicals. All about credit though,

Do what you want not what you can!

Mar 6, 2012

The group is the Middle Market Banking

Mar 6, 2012

My interview was pretty much all fit as far as I remember. It was a 2 on 1 interview. I believe starting salary is in the neighborhood of $60k.

Mar 6, 2012

okay great. Thank you. how recent was your interview? and where? was there a skills test involved?

Mar 6, 2012
Highlight23:

okay great. Thank you. how recent was your interview? and where? was there a skills test involved?

My interview was this past Fall. It was on-campus at the University of Illinois. There were no skills tests in the interview, but I'm sure that would be a part of any second round they would have.

Be sure to understand exactly what commercial banking is and know why you want to work for JP Morgan instead of other companies.

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Mar 6, 2012

does anyone have any good ideas for questions I should ask after the interview? (about the analyst program, chase commercial banking trends, recent news, etc.)

Mar 6, 2012

...

Mar 6, 2012

okay thank you very much for the information.

Mar 7, 2012

Is this for summer analyst or full-time? What city?

Mar 6, 2012

.

Mar 6, 2012

Dude, writing sample means something you've written in the past!!!

Do what you want not what you can!

Mar 7, 2012

Is the position full-time or summer analyst?

Mar 6, 2012

full-time

Mar 8, 2012

mine was for sa but i got dinged :/

Mar 8, 2012

they picked 5 iu candidates and 5 purdue candidates think there was like 12 ppl interviewing

Mar 7, 2012
blastoise:

they picked 5 iu candidates and 5 purdue candidates think there was like 12 ppl interviewing

Could you expand on that a little bit.

Mar 8, 2012
TheKid1:
blastoise:

they picked 5 iu candidates and 5 purdue candidates think there was like 12 ppl interviewing

Could you expand on that a little bit.

yea sure np

it was for Indianapolis branch, they said they picked 5 of the top kids from purdue and 5 of the top kids from iu, i had a big disadvantage from the start bc of major and me asking him if you could value a company using one of the three financial statements which one and why he said income statement

can't remember arguments but they were pretty solid on why

Mar 6, 2012

o okay. are you saying they hired 10 total candidates out of the 12 canidates that interviewed?......."picked" meaning hired or "picked" meaning interviewed?

Mar 6, 2012

...

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Mar 6, 2012

..

Mar 6, 2012

Does anyone know about how many full-time analyst they hire each year for a branch?
did they hire 10 full-time analysts as well as 10 summer analysts for the indianapolis branch?

Mar 8, 2012

i want to say 6/7 interns iirc they didn't say anything about ft other then if interns were good they would get offers

Feb 6, 2013

bump...have a SA CB interview tomorrow trying to know what to expct...what type of questions.

Jun 6, 2013

i know this is old but how did this turn out? i have an interview coming up in florida, any specifics you can give? thanks

Jun 6, 2013

I just got the same interview for commercial banking for the summer please let me know if you hear omething about it

Jun 6, 2013

I just got the same interview for commercial banking for the summer please let me know if you hear omething about it

Jun 6, 2013

After meeting many people in commercial banking at WF, I will address the 4 topics you wanted info on in the order you presented them:

sucks, sucks, less, suicide(or startover as a first-year analyst in IB after you get promoted to associate)

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Jun 6, 2013

^ This is discouraging. lol

Jun 6, 2013

Take commercial banking if you can. I came from non target and now work BO. Trust me, this will be more interesting than what I do, which is print reports, say "yeah, that looks like everything is in order" and sign my initials on the documents. I also interviewed for this same job two years back for full time 1st post bachelors job. Got crushed for my mid tier school that I attended. Also, say you are interested in number crunching, challenging work environment and have a story on how you can give a client bad news. These are all areas I could have improved on. Needless to say I didn't get the offer.

Mar 7, 2012

JP Morgan Commercial banking analyst , has a MM group which is Ibanking but you take part on smaller deals. So if your lucky and get placed into the MM group your good to go and a year later you can lateral into coverage or product group (as people on WSO have stated)..

https://JPMorgan.tal.net/vx/lang-en-GB/system-48/a...
if this is the only offer you get take it and run beats B.O..

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Mar 7, 2012

Can anyone elaborate on this?

"Middle Market Banking covers companies with annual revenues from $10 million to $500 million, offering cash management, credit, investment banking and wealth management."- Its from JPM Career website..

Jun 6, 2013

I got an interview for specifically Real Estate Commercial Banking.

I'm researching it right now, but perhaps some of you know more about it?

Thanks.

Jun 6, 2013

What tech questions are you likely to get asked? Just financial statements?

Best Response
Jun 6, 2013

Stumbled across this and figured I would give my input for others to reference in the future.

I am currently interning in Middle Market Banking for JPM CB. TheKid1, you are actually not quite correct. In the Middle Market, you do not actually do any IB work. You may work with IB products through the IB and be exposed to some of their deals but the IB does mostly all the structuring and face time, etc. Mostly in the Middle Market you deal with local clients with revenues between $20mm-$500mm - sometimes more or less depending on the client and their situation. Now, when I say "deal with", I mean literally structuring deals for these clients mostly in the form of a term loan or revolving line of credit. The Bankers will try to bring in other JPM products like TSS, IB, and PB to increase profitability, but mostly the team deals with credit exposure. I think the only exception is GNPH (Government Not for Profit Healthcare) and I dont think they roll up in the MM specifically.

There are two primary groups of individuals who make up the deal teams in the MM. It's usually one underwriter, who performs all the due diligence, credit analysis, etc. on the client, and then the Banker, who meets with the client and discusses their needs and evaluates management.

There are also several other segments within the CB that take interns. I see Commercial Term Lending and Real Estate Banking here. They are all similar to what you do in the Middle Market but more specialized in that group and you are not constrained to revenue limitations (I believe). Commercial Term Lending could be debt for an apartment complex that leases rooms. Real Estate Banking could be structuring the capital lease debt for a companies new office. If you want the best exposure to other LOBs and more of the IB feel, definitely go with Middle Market or if you can Corporate Client Banking (very similar to MM but with larger sized companies).

IMO, there is almost no better place to intern. The people I work with at JPM are very helpful and want to help you learn and find your niche. So, if you are interested more in the IB side, you may be able to sit it on some IB calls and get some exposure into how they run their line of business. Same goes for Private Banking and TSS. I happened to do them all. You also get to exposure to great research tools and get a general feel on how to structure a deal as an underwriter.

I know everyone thinks about pay, so I will mention it. The pay is a little less than the IB on an hourly rate for internship (2012 numbers) at around $26. As an underwriter (2-4 years) you will make close to, if not, six figures. As a Banker, you may make more than that - somewhere around $200k average but the range is much greater. Make rain and you will be rewarded. It is parallel to any other sales position.

Cries takes a subjective point of view. I also like the CB because I can get out of the office at 6pm and have a life and still make good money. You can also work until midnight if you want to stay on top of all your work, but it's usually not required (in MM). Find what you like to do and get good at it. Just my opinion.

I got the position coming out of a large school but not even close to Ivy League at all. Just understand what Commercial Banking does, be able to articulate your past experiences well, explain why you want to work for JPM and CB, and get to know the people you're interviewing with (They will most likely be senior individuals with a lot of experience in the bank and will probably have some interesting stories). Enjoy your superday.

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Jun 6, 2013

I interviewed for SA and 1st round was all behavioral. So was the superday also. There were no technicals, but mine was for SA.

Jun 6, 2013

Interviewed for full time commercial banking at JPM/BOA/Citi. Had three interviews, all were mostly behavioral with the exception of some corporate finance questions (WACC, cash flow analysis, etc.) nothing crazy.

"Money doesn't talk, it swears." -Bob Dylan

Jun 6, 2013

Thanks

Jun 6, 2013

Do you think I can use this experience to transition to FO, if I got a full-time offer?

Jun 6, 2013

what exactly is commercial banking? I have an interview tomorrow and I was blindly applying the other day because i was just demoralized after graduating with no job.

Jun 6, 2013

when did you apply for the position? I applied in December but never heard back

Jun 6, 2013

Commercial banking is going to provide loans and banking services to businesses. I can't speak much to JP Morgan's program, but the program I'm about to start has me doing credit analyst work for the first two years. During these two years, they're also grooming the analysts to eventually bring in new business for the bank.

Hours will be a lot better than IB.

Jun 6, 2013

Never mind

Jun 6, 2013

Why not ask this to alums from your school who did this program/anyone else you are in contact with at the bank.

Could be wrong but I'd seriously doubt pe or a hf would even be a possibility.
Boutique/lesser known consulting firms might be a possibiity.

Jun 6, 2013

The people I've been in contact with at the bank are lifers, more or less. No one from my school really works at that branch, it was a blind apply.

Jun 6, 2013

since it is not in the investment banking group, your option is very limited.

Jun 6, 2013

Know what commercial banking is, how to analyze a companies financials and what makes a good borrower. Other than that, everything else is fit.

Jun 6, 2013

commercial banking is the devil. and he sucks.

Jun 6, 2013
bmwhype:

commercial banking is the devil. and he sucks.

Does all retail banking suck? From Private Bank to Commercial? What is the pay and hours?

Jun 6, 2013

I was in commercial banking this past summer. (well risk mgmgt. for retail banking i.e. checking out deliquency of commercial banking customers). I found it very boring. I've heard there is great potential there, but personally, I didn't like it.

Mind you that if you ever want to move to the front office of wholesale banking, I think it might be harder than for someone trying to come in through back /middle of wholesale bank.

Jun 6, 2013

Hey,

Not really answering your question, but have a question for you?
by SA do you mean Senior Associate? And are you in the operations side of the investment banking arm or the commercial arm?
If so, why the move into commercial banking? I'm interested because I am in a similar position.

Thanks

Jun 6, 2013

He probably means summer analyst.

Jun 6, 2013

Bump.

Jun 6, 2013

Just had mine phone convo roughly 45 minutes. Questions were all behavioral. Walk me through your resume, why JPM and commercial banking. If you can talk about yourself, you will be fine..

Jun 6, 2013

You'll basically be lending to MM firms (their corporate client banking division handles the big guys). You're job will be basically analyzing the creditworthiness of firms and probably some pitching. Not even comparable to IB if that's what you're thinking in terms of modeling work/hours/exit ops/pay. Expect interview to be mostly behavioral with one or two softball "what are the three financial statements how to they relate/what kind of ratios do yo use to analyze the creditworthiness of firms/here's two companies tell me which one is more creditworthy"

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