JPMorgan Chase & Co is not only a major leader in the global financial services industry but also in the philanthropy and diversity sectors as well. What many don’t know is that the firm uses its vast resources to strive towards parity across race and gender in the financial world. Find out more about the global financial services firm, including an inside look at diversity, company culture, and how to get hired.
JPMorgan Chase & Co. rundown
Size: Over 250,000 employees
Industry: Financial Services
Locations: The company’s headquarters is in New York, New York, but it also has offices in Westerville, Ohio, Tampa, Florida, Dallas, Texas, Toronto, Canada, London, England, and Bengaluru, India. The firm has operations servicing clients in more than 100 countries.
Founded: “The firm is built on the foundation of more than 1,200 predecessor institutions that have come together through the years to form today’s company,” the company’s website states. “We trace our roots to 1799 in New York City, and our many well-known heritage firms include J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, Cazenove Group and the business acquired in the WaMu transaction. Each of these firms, in its time, was closely tied to innovations in finance and the growth of the U.S. and global economies.”
CEO: Jamie Dimon
How much do JPMorgan Chase & Co. employees make?
The average salary for a JPMorgan Chase & Co employee is $129,931 per year. Ladders’ estimates are based on our calculations.
JPMorgan Chase & Co. jobs
The Plano, Texas office is looking for an Assistant General Counsel in the Consumer Collection Advisory Legal department. Find a full list of open roles on Ladders’ JP Morgan Chase & Co. Jobs page.
We teamed up with Rock the Street, Wall Street to give high school students real experience in the finance industry and…
While company culture at a massive company like JP Morgan Chase might be harder to pin down than most, it’s this size and diversity that makes working there so interesting, according to Samantha Saperstein, head of the Women on the Move program.
“It’s a respectful blend of cultures and people with different backgrounds,” Saperstein said. “In the same day, you might be on a video call with colleagues from London, Singapore, Denver, or Seattle – all working on the same project but bringing their perspectives and skills.”
One way a company of this size can create a solid company culture is by setting principles for employees to refer to at any point.
“JPMorgan Chase has a set of business principles that every single employee receives and is brought to life in the way we run our company and treat our 60 million customers,” Saperstein said.
The business principles set expectations for exceptional client services, operational excellence, integrity, fairness, and responsibility. Part of company culture at the firm is facing facts and working hard to solve difficult issues, whether those issues are related to banking products and services or increasing diversity within the company.
According to the company’s website, these are JPMorgan Chase’s four leading business principles:
- Exceptional client service: Throughout our 200-year history, JPMorgan Chase has always been there for our constituents around the world. In the toughest of times when strong banks are needed the most, we never waver in our support, and we never lose sight of our main mission: serving our clients.
- Operational excellence: As important as strategy is, we have to execute to win. Execution involves every employee and every contact we have with customers. The devil is in the details. We must act quickly on problems; drive results, not just activities; and ensure detailed follow-up so that we meet our commitments.
- A commitment to integrity, fairness, and responsibility: Maintaining the highest standards of integrity involves faithfully meeting our commitments to all our constituents — customers, employees, the Board, shareholders, regulators – and to ourselves.
- A great team and winning culture: Teams succeed because they are disciplined, they work well together, they execute consistently and they have a passion to win.
Diversity at JPMorgan Chase
Diversity is important to the firm, so it makes sure to invest time and resources in creating diversity programs that actually work.
Advancing Black Pathways
The Advancing Black Pathways program is a philanthropic effort paired with the firm’s business resources. The program focuses on increasing wealth, educational opportunities, and careers for black people.
“It can’t be throwing good money at the bad,” said CEO Jamie Dimon at the 2019 annual Women on the Move Leadership Day. “It’s got to be that we create a sustainable path that these entrepreneurs are given the help they need, cheap loans and help…so they change to a real banking system afterward…that’s a success and we’ll find a way to actually bring people success.”
Veterans Jobs Mission
In 2011, the firm co-founded the Veterans Jobs Mission, a coalition of over 200 companies that are dedicated to employing U.S. military veterans. The program aims to not only hire veterans, but also focus on their engagement and career development in the private sector. The firm itself has hired 14,000 veterans, and, as of spring 2019, there were 500,000 veterans hired by companies in the Veterans Jobs Mission.
Women on the Move
Women on the Move is both an internal and external effort to provide women with opportunities to succeed in their professional and personal lives.
The program has three main goals:
- Expand women-run businesses. The firm is committed to lending $10 billion in new credit to women-run businesses by the end of 2021. According to Saperstein, they are already ahead of pace.
- Improve women’s financial health. The firm just announced its call to action for one million women to start saving automatically through a tool on Chase.com by mid-2020.
- Empower women’s career growth. This goal is widespread, from the firm’s recruiting efforts to its promotion statistics. “I’m proud to say we had a record number of senior women promoted at JPMorgan Chase in the past year,” Saperstein said.
The program has also resulted in an annual conference, the Women on the Move Leadership Day, which features impressive speakers like Condoleezza Rice, Gwyneth Paltrow, Abby Wambach, and Lindsey Vonn.
1 day, 14 guest speakers, and 2,400 employees and clients at Radio City Music Hall. It was amazing to hear from business…
Interview advice from the head of Women on the Move
Saperstein, who spearheaded the expansion of the Women on the Move program, highly recommends the company as a great place to work and build a long-term career.
In terms of interview advice, Saperstein recommends taking time to do your homework before heading into the discussion.
“I’d encourage people considering a career at JPMorgan Chase to spend a considerable amount of time on our website to get a sense of who we are as a company and how we fit in the industry and the community,” she said. “We do some pretty incredible things.”
Other advice includes expressing your curiosity during the interview by asking thoughtful questions. Finally, she recommends bringing your whole self to not only the interview, but the job as well.
Funding and acquisitions
JPMorgan Chase has raised a total of $1.1 billion over two funding rounds, with the latest being a JP Morgan European Corporate Finance Institutional Investors V. This round was announced on Aug. 29, 2014 and raised a total of $82.4 million.
The company has acquired 10 organizations, with the most recent being InstaMed on May 17.
Employee benefits and perks
“JPMorgan Chase offers a wide range of programs and services to help our employees improve their skills, grow in their careers, and meet their commitments to both their personal lives and their jobs,” reads the employer summary on the Glassdoor page.
Employee reviews 2019
Reviews on Glassdoor range from two-star reviews stating that they experienced “career stagnation” to five-star reviews stating that the company has a “start-up feel with an amazing culture!”
“This isn’t your average big corporate company where you’re just a number. Your work/input gets noticed,” one reviewer wrote. “I truly believe 8×8 is just getting started,” the reviewer continued. “Our CEO has big plans for this company and that starts with investing in the right people.”
The company has good ratings on Glassdoor, with 79% of reviewers recommending the company to a friend, and 93% of reviewers saying they approve of the CEO.
What does JPMorgan Chase do?
JPMorgan Chase is one of the oldest financials institutions in the Unites States, and one of the leading global financial services firms in the world. The firm has its hands in many areas of finance, but it lists its services as the following:
- investment banking
- financial services for consumers and small businesses
- commercial banking
- financial transaction processing
- asset management