JPMorgan Treasury & Securities Services Analyst Program
I recently accepted an offer to join the T&SS Analyst Program at JPMorgan; the program is comprised of four, six-month rotations with an eligibility to go abroad after the 2nd rotation (1 Year).
I wanted to know if anyone is currently in this program and if so how is the pay compared to being in IBD? I know the starting salary and sign on bonus are both the same but how about the “incentive compensation”?
I would also like to know analyst’s first hand experience in this program
Thanks
Way to add FO in the job title, hope it makes you feel better.
Way to add FO in the job title, hope it makes you feel better.
I added FO to the title because not many people know about the program and often people mistakenly call it a BO/MO program. If it makes you feel any better Ill remove it
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anyone?
end of year bonus tops out at 10k from what I've heard hours are good, but depend on the group (some work 12+ hours a day, others 8-10)
Are you positive the sign-on is 10K, no way the bonuses top out at 10K.
I was thinking around 30K? maybe even 40K
I might rethink what I do, after the program. I might just go to b-school and apply to IB
How does the pay change between WSS and TS?
?
It's positive that the sign on is $10k if you are right out of undergrad. the bonus for first yr is around $10k confirmed, it's not 30 or 40k. This isn't IBD LIFinancier. TSS is like a middle office job, same as WSS - although WSS includes some back office jobs.
yep, positive. I would be compelled to say that TSS is front office-ish, since they are revenue creating-ish roles and the base is on par with other front office, etc
ok thanks guys
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Does anyone know how much 2nd year analyst bonuses are?
The same. AVP's barely break 100k all in. VP's I'm not sure, but you can see the trend ... I wouldn't go in expecting to break the bank working there
Any idea if its difficult to move into the investment bank after the 2 year program?
Don't go in expecting to get into investment banking after two years. TSS people rarely will move to investment banking even after an MBA.
I'm sure, but it is still possible. Just like my move from the finance program to T&SS Analyst Program its not the same but you get the idea.
LIFinancier, Im guessing you moved from the CDP to TSS then? How far into the grad programme was this?
Would be interested in knowing how feasible is the CDP (Ops) to TSS move once on the grad programme? Personal opinion would be that the move is easier than CDP to IBD (or something entirely FO) but obviously have to make the effort to make it happen. Would be interested in any advice anyone could offer on this!
I will the starting on the CDP (Ops) in July.
(Just quoted you on another thread, hadn't seen this post till then). Could you PM me pls?
u work in the mid office stfu
Just because it's not ib or st, doesn't mean its not front office. Look up the definition of front office and then read up on JPM website on the role of TS. Though it is not in the same league as ib in terms of the challenging atmosphere, comp, and prestige, it is still a solid role with good work life balance.
"stfu"?
JPM Securities and Treasury Services (Originally Posted: 10/24/2007)
my roomate is a first yr analyst in jpm securities & treasury services, and is completely delusional about his job. he claims that they are the smartest people in the firm and that jamie dimon sent his group head a personal e-mail saying the new analysts should not worry about layoffs because they are the future senior management of the company. most disturbing is that he is adament that his bonus is the same as ibd. now i have never known this kid to be a liar, but this just sounds like total bullshit. can anyone add any insight about this group?
lol, isnt treasury services not even related to IBD? Im sure they dont get as bonus/compensation as those in investment banking. How many hours does he work? I Bet 9 - 5 right?
i think..the "personal email" was sent to all the heads of every department at JPM... his group head was probably bcc-ed on the email...along with heads of ops, finance, ib, s&t and cafeteria...
job doesnt sound too bad.. but no way same bonus as ibd... 30% max...
the guy works 9-530 tops. around 6 o clock you can find him sitting on the couch, dinner already made, and into his third game of fifa.
sorry to bring this thread up again guys, but anyone hear anything on comp for 2009?
JPM Treasury and Securities Services (Originally Posted: 09/20/2011)
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please help!
I did a summer analyst gig in TSS the summer after my sophomore year. Back office in its purest form. I would go with AM if you have the opportunity.
Read the position description. It's not in any way back office. http://careers.JPMorgan.com/student/jpmorgan/careers/us/business/tss
It's a completely separate division that brings in revenue and has its own clients.
They have their seperate B/O and F/O divisions. The revenue model is very interesting. It is a lot to do with providing retail banking and cash management solutions to corporate and HNI's. Worked here for 2 and a half years. PM me for queries.
^What torreador said is correct. However, you really don't have a say as to which division you can get in, at least as a summer- you could be put in a FO role, or a B/O role.
anyone hear anything on comp for 2009?
JPM treasury and securities services (Originally Posted: 04/16/2008)
Does anyone know about this department? How is it viewed? This is a post-Bear option being offered up.
Depends what you want to do. While, TSS isn't "back office" it isn't one of the more prestigious/competitive FO positions (like IB, AM, S&T etc). Also, while the back office-to-front office lateral is difficult, I would imagine it would be easier than the TSS-to-IB lateral as they aren't very relevant.
I have a friend who works there now. Quality and nature of the experience depend very much on the rotations you get. He hated his first rotation, which he felt was pretty much worthless from a skills building perspective, but is much happier now in his second and is getting good transaction experience that could help him lateral to banking if he decides to pursue that option. He was, however I would add, particularly lucky to get his current placement as from what I understand transaction experience is not typical for most analysts in the program. Overall I would say it's probably most similar to a consulting gig in terms of experience and probably worth taking over an ops offer, but you definitely need to take charge of your rotation placements and make sure you don't get stuck with something you don't want to do.
I've read the job description, but I still do not understand exactly what this group does. Security lending sounds a bit like a prime brokerage function but it clearly is not since they just picked up Bear's PB. Can anyone help clear up what exactly TSS entails? Thanks.
Securities Lending is exactly what it sounds like, you loan out securities(stocks and bonds) to a 3rd party, usually brokers, who use those securities to facilitate short sales. Its at some other banks under the Custodies umbrella term. Which basically means you hold custody of your clients portfolio and allow them to earn an additional return on their portfolios by lending out pieces of it.
PM me for more details.
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