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JP Morgan Junior Investment Banking Analyst Program

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!

Comments (376)

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Feb 15, 2018

Had my interview last week, was exactly 30 minutes. 5 minutes of introductory talk and then 20 minutes of technical questions and then 5 minutes for my follow up questions.

I think the technical stuff depends on what you do currently. I work for another financial institution and so I'm assuming some of the technical stuff asked to me would not be asked of someone who isn't currently working for a bank or financial institution.

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Feb 15, 2018

Has anyone not had their phone interview yet?

Feb 15, 2018

I got a mix of behavioral (50%), technical (50%), including one brain teaser.

Overall, nothing crazy - although the brain teaser through me off.

Feb 15, 2018

Hey guys what are your thoughts on this:

Was supposed to have a 30mim interview but the interviewer called late and had another meeting afterwards so it was only 10min with a few questions.
Should I email them asking if they would like to continue the conversation/ speak more? Should I let HR know? I felt that it was incomplete and didn't get to sel myself

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Feb 15, 2018

i would just email the person if i were you, if you have the contact information unless you absolutely nailed it its hard to make a good overall impression in 10 mins

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Feb 15, 2018

Hey guys, been losing some sleep over this and could use some feedback.

I'm guessing a lot of people who received returns have signed at this point. Have you all let HR know?

Feb 15, 2018

Why did you sign a return offer and then recruit for a program that pays you sub-street?

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Feb 15, 2018

.

Apr 1, 2018

delete

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Feb 16, 2018

Asked me to walk through my resume, but the rest were technical Qs.

There is one more in-person interview after the phone screen. My interviewer said we should hear back within the next two weeks.

"The ceiling is the roof"

Feb 15, 2018

i was told that the next day is superday. So not everyone gets to have 2 phone interviews?

Feb 16, 2018

I had two phone interviews, was everyone supposed to? Or was that for interviewing with different groups?

Feb 16, 2018

I had my phone interview today. First question was give me your elevator pitch in 30 seconds. The rest was all technical.

Best Response
Feb 17, 2018

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.

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Feb 17, 2018

Thank you for taking the time to write this.

Feb 16, 2018

No bonus? I heard that it was a haircut relative to the 1st year analyst bonus.

"The ceiling is the roof"

Feb 15, 2018

If an intern, doing "intern" things during their summer, can find FT work at another firm, then surely your friend can do the same in lateraling to another position. Something doesn't sit right with your post.

I also know happen to know someone who went through the program, and I was told a bonus of around 20-30k, not zero.

Feb 18, 2018
RGee:

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?

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Feb 17, 2018

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.

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Feb 21, 2018

Why did you not get a return offer?

Feb 17, 2018

It seemed from the post that the first guy did not fall gracefully after getting fired, and received 0 bonus due to getting fired. That is fairly standard industry practice.

Many programs at JP appear to be a sham, but its surely better than being unemployed. If I were a college senior, I would apply and work my butt off to prove myself to ideally get the return, then work another year to build better experience and try to exit. Good luck everyone.

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Feb 17, 2018

If you are fired, it may be likely that you did not deserve a bonus.

Feb 15, 2018

.

Feb 18, 2018

what do you mean by sham? I can only think of this program being slightly sketchy as they are def saving money on the analysts and tying them down for longer,

Feb 16, 2018

So from when people spoke to their phone interviewer, did majority get feedback saying that HR will reach back out to them this week?

Feb 15, 2018

mine said we'll hear back within 1-2 weeks

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Feb 16, 2018

did they say the next step would be superday? mine wasn't specific.

Feb 19, 2018

.

Feb 21, 2018

Any updates?

Feb 15, 2018

Nada

Feb 21, 2018

Seemed like last year people began finding out about whether or not they were moving on in the process the last week of February/1st couple days in March. Could be different this year, but I'm guessing that's probably when decisions will be out

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Feb 21, 2018

has anybody been networking at all?? Wondering if that makes a difference at this point?

Feb 16, 2018

bump.

Feb 21, 2018

Is there still a matching part after the superday for everyone or will some get direct offers and the rest go into matching after the superday? If so, can people still get cut after the matching round?

Looking through the 2015-2017 threads it looks like it has been changing into a more conventional process like regular recruitment.

Feb 22, 2018

from what I've been told by a few former JA's, the matching round is going to be right after the superday, Monday>Tuesday in March. Some get brought back in, some just get a phone call. offers would go out the latest that Tuesday I think

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Feb 24, 2018

delete --

Feb 22, 2018

Any updates? my recruiter said they needed to get all their info sent in by yesterday so I'm hoping to hear something back monday, did anyone else hear something similar?

Feb 21, 2018

I was told the same

Feb 22, 2018

Has anyone heard back about the result of phone screening yet? I did my phone interview last week and was told to expect a response in 4-6 weeks.... Hopefully they were just trying to manage my expectation

Feb 16, 2018

i don't think it'd be 4-6weeks, thats way too long haha

Feb 22, 2018

4-6 weeks huh? Yeah... sounds like you have a great shot

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Feb 22, 2018

I had a phone screen yesterday and was told that next steps would be communicated sometime this week...

Feb 15, 2018

Yeah, I have a feeling we will get the email today.

Feb 22, 2018

No way. It took them two weeks to schedule my phone screen lol.

Feb 15, 2018

will there be only one superday or multiple?

Feb 23, 2018

Probably going to be a superday for both SF and NY... In the past it seems that SF has a different recruiting style, but I'm not sure about this year. There hasn't been much chatter about the SF office yet.

Feb 21, 2018

My yello portal reflects a status change of 'interview-2nd round' , all these days it said 'interview-1st round'. Has this happened to anyone or is it reflecting the phone screen round still?

Feb 15, 2018

Congrats! Mine hasn't changed. It might take some time to update for everyone like it did for the phone screening round.

Feb 21, 2018

I don't know if the system is behind on updating each round because I thought that the phone screen is the second round, does your's still say first?

Feb 23, 2018

Mine was updated as well. I'm NY.

Feb 22, 2018

I'll bet my left nut we don't hear back today

Feb 23, 2018

Looks like you owe a lot of people your left nut

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Feb 15, 2018

You got an email?

Feb 23, 2018

Is the superday interview invite sent to everybody at the same time? i.e. if I havent gotten any superday invite, does that mean I'm out for sure?

Feb 15, 2018

Anyone other than Sanctified has gotten an email?

Feb 21, 2018

Anyone get a rejection email or portal status?

Feb 21, 2018

got a superday invite as well!

Feb 23, 2018

Email went out today. Based on the content of the travel arrangements, you are likely out of luck if you do not receive it today.

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Feb 23, 2018

Agreed, email looked very generic and was probably sent to everyone at once.

Feb 21, 2018

So based on content of email no way it could be sent out on Monday or later next week?

Feb 15, 2018

When is the super day?

Feb 22, 2018

Congrats to all I owe my left nut. Still haven't heard anything but will keep you posted

Feb 23, 2018

What is the date of the superday? Last year, the email was sent out as a blast, so if you didn't get one with the rest of those that did, it's very unlikely that you will be getting one. Didn't get one either.

Best of luck guys & gals

Feb 23, 2018

Invite blast was sent out. Congrats to all that got it

Feb 22, 2018

is there a chance they're doing more than one super day? seems weird they didn't send out rejection notices but maybe I'm just being annoying because i didn't get an invite

Feb 23, 2018

Unless you're going for SF and timing is different, very unlikely

Feb 16, 2018

It seems that everyone who's got updates/invites is aiming for NY....anybody going for SF that received either an invite or rejection yet?

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Feb 26, 2018

I am going to SF, how about you?

Feb 22, 2018

anyone know where else they're gonna apply now lol... i feel screwed

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Feb 16, 2018

so if we didn't get an e-mail that means we are out of the running?

Feb 15, 2018

Did the superday and rejection emails go out the same day last year?

Feb 22, 2018

I feel like no one has gotten rejection yet which means anyone who didn't get a super day invite got a rejection and they just haven't bothered to send them out yet.

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Feb 21, 2018

No chance there's a second wave of emails going out?

    • 1
Feb 15, 2018

I'm just in denial mode, but chances are this is it. Congrats to those who are getting a left nut.

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Feb 21, 2018

Delete

Feb 23, 2018

Better question-- Is this wave purely for NY? Or both NY and SF?

    • 1
Feb 21, 2018

Anybody's portal change overnight?

Feb 22, 2018

No, did yours?

Feb 21, 2018

Nope lol I think that's probably it. It seemed like portals updated over a couple days for the phone screening so I was hoping for the same but I don't think that'll be the case

Feb 21, 2018

Anybody get a rejection?

Feb 22, 2018

If it was a blast, and that's it, then wouldn't the rest get rejection emails?

Feb 21, 2018

Let's hope!

Feb 26, 2018

Deleted

Feb 21, 2018

Did you get it today?

Feb 26, 2018

Deleted

Feb 24, 2018

I have an interview scheduled with mid-market group, I like to schedule a coffee meet with someone at the same firm. Wondering how I should approach this, have 4 days. Any feedback would be greatly appreciated.
thanks

Feb 24, 2018

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.

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Feb 26, 2018

Got mine as well. I was invited to San Francisco the first week of March. Anyone else got San Francisco?

Feb 21, 2018

Does anybody know- how many people were invited to the NYC super day in march? How many will get dinged before day 2/group specific matching round? How many offers are on the table?

    • 1
Feb 21, 2018

Does everyone have the same Superday date?

Feb 21, 2018

whats your date?

Feb 26, 2018

Is anybody preparing for a case study? Does anyone know how the process will be? Tech related for SF?

Feb 26, 2018

.

Feb 16, 2018

We'll just got my rejection letter...not sure what to do as I'm an employee of the firm already and though I'd at least get to the super day. Anyone else know of boutiques hiring in sf? Haha

Feb 15, 2018

Also at JP already. I wonder if that actually might have hurt our chances. Thoughts? Tbh, I think my interview went very well, including the technicals, so I wonder if it was another factor that drove their decision.

Feb 21, 2018

Same...

Feb 26, 2018

did anyone get superday for both NY and SF?

Feb 26, 2018

Only San Francisco, how about you?

Feb 26, 2018

same

Feb 24, 2018

Do SF and NY superdays happen at the same time? Anyone can confirm?

Feb 26, 2018

PM me.

Feb 26, 2018

flny2270 PM me

Feb 26, 2018

Are any of you guys who advanced to the next round international students who require visa sponsorship?

Feb 21, 2018

I am

Feb 26, 2018

I am, PM me

Feb 23, 2018

Anyone know which groups do not take JAs?

Apr 1, 2018

delete

Feb 26, 2018

Has anybody heard back about hotel arrangements yet?

Mar 2, 2018

I heard back last week and got SF superday. I'm confused about what the interviews will entail. Because they give us 4 hours, but only 3 "30 min interviews." I wonder if there will be a lot of waiting in between.

Feb 26, 2018

There is a networking breakfast on Friday. Pm me, I am going to SF as well.

Mar 2, 2018

going to NY superday.. my guess is that it's just going to be a mix of technicals and behavioral, maybe they focus more on the "fit" but I think the best advice is to prep for everything?

Feb 17, 2018

I forgot which groups I applied for lol. Is there any way to check this somehow? Can't review my app from Yello website.

Feb 16, 2018

If you find out, PM me lol

"The ceiling is the roof"

Feb 17, 2018

Good luck to everyone in NY today

Mar 5, 2018

Going to SF Superday as well. Anybody know how long the decision process usually takes after interviews are held?

Feb 21, 2018

Has anyone heard back from super day this morning in NYC? (for the networking event invite and matching day tomorrow)

    • 1
Feb 16, 2018

Yeah, got rejected. Congrats and best of luck to everyone else.

"The ceiling is the roof"

Mar 5, 2018

How long after the morning session did you hear back?

Feb 23, 2018

Anybody from the afternoon session hear back yet?

Mar 5, 2018

yeah im moving on

    • 1
Mar 5, 2018

What exactly is happening tomorrow?

Feb 26, 2018

So what is next after the super day?

Feb 26, 2018

.

Mar 7, 2018

Did anyone receive a group ranking email yet, for NYC?

Mar 5, 2018

no i think they said like end of the week or beggining of next week

Mar 5, 2018

They sent them out and want responses quick. I don't really understand why its going to weeks to find out.

Mar 9, 2018

Anyone hear from any groups/reach out yet?

Mar 5, 2018

no have you?

Feb 26, 2018

Anyone who advanced to the matching hear back yet?

Mar 5, 2018

nah but has anyone from any groups reached out?

Feb 26, 2018

Anyone who made it to to the final round group interview in SF PM me

Mar 12, 2018

Anybody reached out to you yet?

Feb 23, 2018

Anyone from NY hear anything yet post matching day?

Feb 23, 2018

Anyone from NY hear anything yet post matching day?

Mar 12, 2018

Haven't heard anything formally from HR since Tuesday. Three coverage groups that I clicked with reached out and wanted to continue conversations/etc. We've had brief 10-15 minute calls since.

So far the 'Post Superday' process seems to be both candidate driven and JP Morgan driven. One of the associates told me after candidates rank their preferences from 1-10, each groups eventually sees how the candidate ranked them and places bids for each of us. HR then uses a matching algorithm to pair each group to a candidate, and confirms with the group whether they'd like to extend an offer before sending out the formal letter.

There were 40-50 candidates at the final rounds on Tuesday. I'd imagine there's 15-20~ offers that will be sent out in total.

TLDR; very nebulous how this 'post-interview' networking process goes. Would expect an outreach from a team that you vibed closely with; if not, it never hurts to reach out to re-express your interest in the group.

    • 1
Mar 5, 2018

anyone else freaking out? Only talked to one group dont know how likely it is to get an offer

Mar 12, 2018

which group did you talk to?

Feb 23, 2018

In a similar boat shar333. Spoke with one, emailed briefly with another

Mar 5, 2018

well sounds like youve got two options at least. Feel like I shot myself in the foot by only speaking to one.

Mar 19, 2018

anyone waiting to hear from SF healthcare?

Mar 21, 2018

Did anyone receive an offer yet?

Array

Mar 12, 2018

Suspense is killing me.

Also surprised the Healthcare has reached out to so many people. Is it all SF or NY?

Mar 5, 2018

I think people mean they were talked to not that they received an offer

Feb 23, 2018

Did anyone hear back?

Mar 12, 2018

Someone called me and said HR will give formal letters out by Friday.

Mar 21, 2018

Someone from HR or one of the groups you were talking to?

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Mar 21, 2018

....

Array

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Mar 5, 2018

sf or ny?

Mar 21, 2018

Ny

Array

Mar 12, 2018

Anyone knows do they give rejections over the phone too? I'm for SF and heard nothing yet.

Mar 22, 2018

Did anyone hear from cnr or tech?

Mar 23, 2018

Has anyone received rejections from last rounds?

Mar 19, 2018

No. You waiting on SF or NY?

Mar 12, 2018

Any experienced hires receive their offers yet? Have gotten phone calls from the team and a few congratulatory emails, but nothing from HR yet. It's been over a week.

Apr 11, 2018

Anyone hear any more details/onboarding since signing?

Mar 2, 2018

no but glad I'm not the only one

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