JPMorganChase To Hire 10,000 during 2010

JPMorganChase jobsJPMorganChase announced it will complete hiring 10,000 new employees by the end of 2010.

That's good news from JPMorganChase. Jobs in financial services tend to pay better than other sectors. Moreover, they can lead to quick upward mobility. The clerical becomes a trader. The trader becomes an investment banker, The investment banker becomes the chief executive officer. In addition, this hiring trend could signal that Wall Street is in a recovery mode after its crash, which, some contend, helped generate the global downturn.

JPMorganChase balances this good news with the reality that, reports Kyle Stock in Fins Finance, the "bank shelled out 9 percent less in compensation, which comprised a measly 28 percent of total revenue... the industry typically shovels almost half of every dollar to its staff."

How to get a job in the financial sector? Answer: differently than in other industries.

Often you don't need a very specific background to match what the position will demand. Those who once worked there, ranging from Lawrence McDonald to Michael Lewis, point out that personality traits tend to trump experience and skills. Those include the ability to fit into the organizational culture, high energy, and love of money.

If you are determined to get in, try applying to lots of different firms since they tend to have unique cultures. For example, Bear Stearns had been a hustler's kind of place and Salomon Brothers white shoe. Most, however, respect push.

Therefore, you can be direct in asking those you contact how you could position and package yourself to be hired. The most common way in is through sales. There are frequently ads on online job boards for training programs for financial planners. While training, simultaneously you will have to prepare for licensing examinations such as Series 6. Once you are licensed, you might say that you got your ticket punched for diverse kinds of opportunities in financial services.

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thereshegoz

this article isn't very helpful in that it doesn't state where the jobs are within chase. which locations in the u.s.? they laid off a lot of employees in the past two years - are they getting first dibs on the new jobs?

October 19 2010 at 2:13 PM Report abuse rate up rate down Reply
TEVA

Hire 10,000 by the end of 2010???
What country?? Who they think there kidding??
How do these bailout compaines get to the point that they need to
hire 10,000 white collar workers is less than three months??
As they say this one does not pass the smell test...

October 19 2010 at 1:15 PM Report abuse rate up rate down Reply
Mike in Phoenix

JANE, you don't know crap! I worked for Chase for many years in a branch office as a licensed investment banker. They salary is low, the promise of comissions never coming true, long hours, 6 day work weeks, and an environment that would make a used car salesman cry! They demanded that you sell products and services to clients that did not fit their needs and often could harm their finances. I work at a different bank now and 40% of my co-workers are former Chase employees! When I worked there they had a 107% attrition rate, meaning each job in the branch rolled over more than once a year, the average time of employment was about 8 months. Learn about the companies you write about, honey!

October 19 2010 at 1:09 PM Report abuse rate up rate down Reply
Lori

Try applying at Chase when you in your early fifties and out of work for close to a year....I don't believe the article at all. I never get approached
at the door. I'm sure they rotate that job.

October 19 2010 at 11:24 AM Report abuse rate up rate down Reply
2 replies to Lori's comment
Wayne

They won't hire you .... Then Rob them. If ya get caught you get free room and board with all medical expenses paid.

October 19 2010 at 12:23 PM Report abuse rate up rate down Reply
tonya

try getting any job when you are in your early fifties and have been out of work for awhile and if thats not bad enough try haveing a disibility on top of that, and i know that people get tired of hearing of the disibility woes but if you are over i say about thirty or so and aren't somewhat pleasing to the eye to look at forget banking and retail. some employers prefer young and dumb so that they don't know they (the employee) are getting screwed anyway

October 19 2010 at 1:04 PM Report abuse rate up rate down Reply
Amber

I am happy that people that need jobs are getting hired as long as it is for an actual job that is needed ie: teller, loan agent etc. But what I find amazing and incredibly irritating is that JP MorganChase is hiring people to stand at the doors to greet you (which is incredibly irritating as it feels like you are getting accosted coming and going in to the bank) they are doing nothing else. I would rather have Chase put that money instead of irritating me to take money off of all of our banking fees!

October 19 2010 at 11:10 AM Report abuse rate up rate down Reply
TomW

So they are going to hire 10,000 employees in the next 90 days. Thats a lot of baloney and I am surprised that more have not questioned this article. I think we are supposed to feel better about the bankers who got billions in our tax dollars, or maybe its a favor to OBama two weeks before the election. Nearly a half million people filed for unemployement last month buts nice to know that a bank is willing to lie to us to make us feel better and the writer was happy to spread that baloney around.

October 19 2010 at 11:04 AM Report abuse rate up rate down Reply
2 replies to TomW's comment
Mike in Phoenix

Bank employees in the branch usually make less than $30,000, I know I worked there.

October 19 2010 at 1:12 PM Report abuse rate up rate down Reply
OBB

I think you are absolutely right. Liberal media for Democratic votes.An article about "shovel the shite ready" jobs. AOL is like the O'bama. If you read it it is usually a lie for entertainment value only. Wonder how long this truth will stay posted

October 19 2010 at 1:32 PM Report abuse rate up rate down Reply
bmac

The article header talks about hiring for bank jobs and the story is about hustling to become a stock broker

October 19 2010 at 10:25 AM Report abuse rate up rate down Reply
kevin

They must be joking when they say people in finance are paid well. Banks pay some of the lowest wages around. Sure, they give fancy titles, but pay nothing.

October 19 2010 at 7:50 AM Report abuse rate up rate down Reply
1 reply to kevin's comment
k

Your right Banks dont pay much. I worked for JPM Case. Their not very nice to work for. As for moving up the chain. Good Luck. One will really need to suck up.

October 19 2010 at 11:02 AM Report abuse rate up rate down Reply
fuss1

What a pollyannaish article this was! No mention at all of JPM's foreclosure woes, which is probably the real reason for all of the hiring. But it's nice to know that the mail room clerk can eventually become CEO! LMAO.

October 19 2010 at 6:12 AM Report abuse rate up rate down Reply
1 reply to fuss1's comment
Roseann

It happened at Comerica Bank. Our former CEO started many years earlier in the mailroom

October 19 2010 at 12:22 PM Report abuse rate up rate down Reply

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