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Graduate Programmes
What’s happened to graduate hiring at JP Morgan?
26 October 2009By Sarah Butcher
COMMENTS
With the markets/business picking up, JPM don't want to make the same mistakes banks have made in 2004-07 by hiring hundreds of graduates simply to fill the need for more bodies. Read all comments »RELATED ARTICLES
As some of you have pointed out, JP Morgan, despite doing well out of the financial crisis by most measures (third quarter results included), doesn’t appear to be stocking up on graduate hires to the extent its success might indicate.
As far as we are able to discern from looking at the applications area of JP Morgan’s graduate website, it doesn’t have any full time roles in sales, trading and research available for students graduating this year. Nor does it appear to have many investment banking (M&A/corporate finance/capital markets) opportunities – it’s only advertising a few niche roles for German speakers in ECM.
The obvious conclusion is that JP Morgan has filled all its graduate vacancies in these areas with interns from last summer. Another possibility is that students who accepted to join the bank in 2009 were encouraged to defer until 2010.
JP Morgan is remaining tight lipped about the situation, let alone its possible cause. A spokesman for the bank told us they have “plenty of jobs within lots of different departments,” and that they’re, “encouraging full time graduates to apply for positions.” However, he declined to comment about the situation in particular business areas.
COMMENTS
Frustrated, HR & Recruitment, Mon 26 Oct 09
All this 'article' states is that you have looked at a website and speculated as to the lack of jobs posted in certain business areas. In other words taken what everyone can already see and postulated some possible reasons. Exactly what is the point?
Add your comment »Sarah, Editor, eFinancialCareers, HR & Recruitment, Mon 26 Oct 09
@Frustrated - it's only a short 'article' and is intended to draw attention to the fact that there don't appear to be any jobs at JPMorgan, which is suprising in the current environment. Yes, other people can discover this for themselves - and many have done - but others may be unaware of it. The point is therefore firstly to inform and secondly to stimulate debate and invite comment on the possible reasons for this situation.
Add your comment »AK, Student, Mon 26 Oct 09
I would say they had major issues with staff due to Bear Sterns. I think you have too many over qualified people there. I met one quite senior guy from their HR and he was definitely the most arrogant person I have met in the industry!
Add your comment »I'm in M&A, Tue 27 Oct 09
Excellent article, Sarah!
I get a Factiva news roundup ever morning, and even I didn't know that JPM were so prudent with regards to their hiring - probably a "quality over quantity" strategy. With the markets/business picking up, JPM don't want to make the same mistakes banks have made in 2004-07 by hiring hundreds of graduates simply to fill the need for more bodies, rather than to take their business forwards and be the leaders of tomorrow.
@Frustrated, there is no need to take your frustration out on the messenger simply because you are not good enough to get a job/internship. Such attributes are not what we are looking for at J.T.Marlin.
Didier, Information Technology, Thu 29 Oct 09
I have sent my application to JPMorgan for full time Analyst programme towards the end of September but I haven't heard from them yet.
The status of my application says that "it is under review and will be processed shortly" since end of Sept.
Do they normally process applications after the deadline?
Didier, Information Technology, Thu 29 Oct 09
I have made my application to JPMorgan end of Sept but I haven't heard from them yet. Is anyone in same situation?
Add your comment »amas, Trading, Fri 06 Nov 09
applied for APAC S&T end of September, haven't heard anything either...
Add your comment »Tom, Trading, Fri 06 Nov 09
Guys you need to follow up your application. This is very important. Best advice is to call HR and inquire about the status of your application.
Add your comment »Terry, Asset Management, Thu 12 Nov 09
there isnt a contact number on the website, only an email address but no reply from there
Add your comment »
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