JPMorgan Chase & Company (JPM) – Get Free Report is the most important financial institution within the U.S., with $3.9 trillion in property and, as of Oct. 24, 2023, a market capitalization of $410 billion. To function such a big monetary establishment and to generate billions of {dollars} in income, the New York-based firm must make use of 1000’s of employees — from executives in wealth administration to financial institution tellers at its retail branches. As of the second quarter of 2023, the financial institution had 300,066 workers within the U.S. and over 60 different nations.
Related: Investment banking salaries: How a lot, and who pays essentially the most?
How to get employed: the method
JPMorgan provides a spread of positions throughout the financial institution, from internship coaching packages for college kids to entry-level, administration, and govt careers, and these are damaged down into two profession tracks for candidates: college students and graduates, and skilled professionals. The financial institution invitations candidates to use in both space and offers directions for the method. However, having an inside observe, by understanding somebody throughout the firm who might present a suggestion, would possibly facilitate a sooner hiring course of.
Mark Wilson/Getty Images
A latest faculty graduate can plan to spend their total profession at JPMorgan. In funding banking, for instance, they will begin as an analyst, after which work their method as much as affiliate and on to director or vice chairman.
An skilled skilled corresponding to vice chairman, govt director, or managing director could make a base wage of at the very least $150,000. Add incentives and advantages, and the annual compensation bundle might exceed $1 million.
According to its 2022 annual report, about two-thirds of the financial institution’s employment alternatives had been stuffed by exterior candidates, with the rest stuffed by current workers. Jobs at JPMorgan’s headquarters in New York City are inclined to pay greater than in workplaces at completely different cities within the U.S. due to the excessive price of dwelling. As of Oct. 24, 2023, the financial institution had 5,567 positions to be stuffed in New York City and globally.
Types of jobs
JPMorgan breaks down employment into six separate companies: asset and wealth administration, business banking, shopper and group banking, company and funding banking, company features, and expertise.
Those companies are then additional divided into profession areas, corresponding to personal banking, quantitative analysis, house lending, auto finance, danger administration and compliance, and human assets.
Positions in asset and wealth administration are inclined to pay greater than these in company features, although seniority and degree of complexity in duties required can skew the pay increased. An govt director in cybersecurity, for instance, would possibly earn greater than that for the same executive-level place in asset administration.
How a lot does JPMorgan Chase’s CEO make?
Jamie Dimon, who has served as chief govt since December 2005, was paid $34.5 million in 2023: a base wage of $1.5 million and a performance-based incentive of $33 million.
Dimon’s base wage is 26 occasions the U.S. annual median wage of $57,200, which is predicated on Bureau of Labor Statistics information, and virtually 40 occasions the bottom reported wage on the financial institution. According to jobs website Glassdoor, which estimates pay primarily based on user-submitted information, salaries at JPMorgan vary from a median of $37,793 for a financial institution teller to $429,473 for a managing director.
Other JPMorgan Chase salaries
JPMorgan posted 5,567 job listings as of Oct. 24, 2023. Below is a number of salaries for New York-based positions:
Asset & Wealth Management Strategy—Vice President
Base wage vary: $155,000 to $225,000
J.P. Morgan Wealth Management—Executive Director, Market Director of Wealth—Manhattan, NY
Base wage vary: $146,800 to $225,000
Asset Management—Data Science Strategy—Executive Director
Base wage vary: $175,750 to $260,000
Wealth Management, Global Investment Strategy, Senior Macroeconomist, Executive Director
Base wage vary: $142,500 to $300,000
Asset & Wealth Management—Training Coordinator—Analyst
Base wage vary: $66,500 to $95,000
Part-Time Associate Banker, South Central Queens (30 Hours)
Base Pay Range: $25.00 to $28.99 per hour
Sponsoring H-1B visas for non-U.S. residents
For non-U.S. residents looking for work within the U.S., JPMorgan is amongst these U.S. corporations that sponsor candidates for H-1B visas. On job data website h1bdata.information, a whole lot of jobs — from analyst to vice chairman — can be found for sponsorship of the visa, and the pay is consistent with that of an applicant within the U.S.
Some of the New York-based job choices and their salaries embrace:
Analyst, Investment Banking
Base wage vary: $100,000 to $125,000
Data Engineer
Base wage: $172,000
Executive Director, Investment Banking
Base wage: $325,000
Vice President, AI Research
Base wage: $177,000
Vice President, Quantitative Research
Base wage vary: $200,000 to $235,000
Source: www.thestreet.com”