Management has lost its way / major compensation issues
Pros
JP Morgan is a great place to start your career -- the training programs are excellent and they make a significant investment in developing junior talent.
Cons
I spent over 10 years at the firm and the first half of my time was great. The firm develops junior talent and the culture of the firm used to be stronger. Over the last few years, management has lost its way. During the pandemic -- a time of record profits -- the firm pulled back on resources and bankers burned out. Following a string of high level Private Bank departures, the bank is now trying to course correct. Banker compensation is also way under market and there is absolutely no transparency year-over-year into what you will make. There is very little correlation between results and pay -- it has more to do with management discretion. There is way too much importance placed on "managers" in the Private Bank -- the result is micromanagement instead of arming bankers with the tools they need to bring in business.
