Pros
This is a huge company with plenty of room to move around. Pretty much no matter what you want to do, you can do it here. The benefits here are great with the 401(k) being matched by the employer up to 5% of your paycheck as well as a comprehensive pension program. After a year of service they start to contribute a percentage of your check into an account that pays interest. This percentage is between 3 and 9 percent of your pay. Vacation time is standard here, 2-3 weeks a year. Bank branches have varying hours, but not having to work too late is a plus. Most branches are closed on Sundays, and most employees alternate having weekends off within the branches. The environment you work in varies greatly depending on the personality of your manager. I've been through a few managers and the atmosphere at work changes greatly. Some managers are laid back and others really like to micro-manage, but these problems come with any place of business. The bonus program is good here compared to other banks in my area. They pay you a MONTHLY commission based on your sales numbers. They give you "PVC's," or points, for everything you do. A checking account is 5PVC's, Direct Deposit is 15 PVC's, Online BillPay is 25 PVC's, a credit card is 17.5 PVC's, a fee-based debit card is 7 PVC's, a business checking is 25 PVC's. For loans, every $1000 loaned is 0.7 PVC's, so a larger Home Equity, say 100k is 70 PVC's. Investments pay you 2 PVC's for every $1000, so $50,000 invested with JPMorgan is 100 PVC's. The bank wants you to make 1200 PVC's each month, you need 1150 per month to acheive 100% payout, which means they pay you $1 for every PVC, so 1200 PVC's = $1200. At 1500 PVC's you make 125% and at 2000 PVC's you make 150% and there is no cap to what you can make. If you are in a good location and you are great at what you do, I know of bankers that make 120,000 a year, so yes, that is definitely possible. Not common, but possible. 1200 PVC's is achievable, and it does require quite a bit of hard work and being very proactive, calling people, setting appointments for them to come see you, pulling people from the teller line so you can sell them products. It's a very aggressive sales atmosphere, but if that's something you like, you will do great and love this job. If it's not, you will want to get as far away as possible from there. If you make 500-750 PVC's you make only 50% and 750-1150 is 75% and below 500 you don't get a penny. Salaries range from 28,000-32,000 with no raises. If you want a raise, you have to give it to yourself.
Cons
As a banker, it's all about sales numbers and goals. They constantly tell you that the goals are set so we can help customers, but many times I feel like we have to push products on customers that don't really need them. You also spend a great deal of time dealing with customer complaints, many times about fees that the bank will refuse to reverse, even if it means making a customer so upset that they will close their accounts. Obviously we are in the business to make money, but it just doesn't feel like the customer really comes first here, the bank does. I'm a very service-related person and enjoy getting to really know my customers, so therefore I have been repremanded by management for "spending too much time with customers when I could be using that time to sell." In my eyes it is very important to build a relationship with a customer and build that trust as opposed to just pushing products, and the bank will tell you they feel the same way, but when it comes down to it, they really couldn't care less about that and just want you to sell, sell, sell. We even have a banker here in the branch that used to be a car salesman and he is getting frustrated by the aggressive sales goals and is looking for employment elsewhere. I also am looking elsewhere, but within the company. JPMorgan Chase is a great company to work for with outstanding benefits. This doesn't mean that this job isn't for anyone, because at my branch there is a banker who has been with the company for over 20 years and loves every part of her job, is a genuinely nice person and makes great money.