What it does: J.P. Morgan India provides asset management, commercial and investment banking, institutional asset management, markets and securities services, and treasury services.
Best known for: J.P. Morgan India’s office in Mumbai is one of the global company’s biggest regional hubs outside the U.S.
Staff stats: approximately 34,000 employees
Financials: US$119.54 billion in global revenue for 2020
The good bits: Freshers and students have several options for a potential career at J.P. Morgan India, including the Early Insights Pre-Internship Program.
The not-so-good bits: J.P. Morgan India scrutinizes applicants for internship and full-time roles by conducting multiple interviews. An applicant’s success rate is believed to be as low as 20%.
J.P. Morgan India started in 1945 after Chase National Bank opened an office in Mumbai at the Taj Mahal Palace hotel. The company has since expanded with service centers in Bangalore, Hyderabad, and Mumbai.
The Mumbai office is one of the multinational investment banking firm’s biggest regional hubs outside the U.S. J.P. Morgan India supports the global company’s operations by offering:
These services have allowed Indian corporations to raise over US$20 billion since 2008. J.P. Morgan India has helped its clients with domestic and international offerings.
The company claims to be the first bank to execute long-tenure foreign exchange rupee options and the first foreign primary dealer with the Reserve Bank of India.
As an investment banking firm, J.P. Morgan India’s work environment tends to have a strictly professional vibe. While most people are competitive, insiders described a culture of approachability and friendliness.
The company often chooses to promote people from within, which partly explains a competitive workplace. Some jobs like financial analysts can be overwhelming for freshers because of too much pressure.
J.P. Morgan India’s top competitors are Goldman Sachs, Morgan Stanley, and Wells Fargo.
In 2019, a forensic auditor accused J.P. Morgan India of being involved in real estate fraud. The company allegedly invested US$12 million in Amrapali Group, a property company that failed to deliver 46,000 homes at 28 development sites.
J.P. Morgan India’s corporate social responsibility program focuses on awarding funding grants to non-profit organizations. The company also earmarked US$3.8 million in financial aid for employees during the COVID-19 pandemic.
A low success rate for joining J.P. Morgan India should compel freshers to be extra critical of their CVs. Applicants can achieve this by making sure that their credentials match their target roles as much as possible.
J.P. Morgan India encourages freshers to explore career opportunities by joining its Talent Network from the careers site. This provides them with timely updates on new and existing roles at the company.
Once they find an opportunity that excites them, applicants should then customize their CVs to fit the job description. J.P. Morgan India prefers concise CVs that highlight a candidate’s past projects, metrics for success, and leadership skills.
The selection process for pre-screened candidates varies for freshers and students.
The first round may involve an aptitude test with up to four sections. These will test a candidate’s verbal and logical skills, as well as quantitative abilities. If it’s a tech role, candidates will also need to complete a coding challenge.
Those who pass the test will need to ace a panel interview. The questions during this stage will range from personality to skill-based topics. A short interview with an HR representative comes next for shortlisted candidates.
The usual questions will focus more on a candidate’s background. Depending on the role, J.P. Morgan India may take 30 days to complete the hiring process.
The company will ask students to record video responses for the initial interview via HireVue. There may be at least five questions during the video interview.
Applicants should practice as much as they want before recording the session. Once they start, the company only allows each response to be re-recorded once. An HR representative will contact shortlisted candidates, which will be followed by one or more interviews.
Tech roles will also require a coding test in between the behavioral and technical interviews. The hiring process for students may last for at least two weeks.
Freshers and students can join J.P. Morgan India through apprenticeships and student programs, Early Insights Pre-Internship, internships, and full-time roles.
The company’s Program Navigator makes it easier for students to find a relevant internship opportunity. It’s a game-based platform that analyzes ‘cognitive, behavioral, and social attributes’.
Students will then see a shortlist of programs based on the game’s results, aside from a personalized report about them.
The Code for Good hackathon is an example of the Early Insights program. Participants have the chance to transition as a tech intern or full-time employee based on their performance.
J.P. Morgan India offers internship roles in as many as nine departments:
Interns can become full-time employees in their designated departments. Most freshers start as analysts when they join the company in an entry-level role.
The average salaries for freshers at J.P. Morgan India range from INR226,000 to INR841,000 per year. Interns can earn up to INR41,000 per month.
Insiders said that there are two kinds of bonuses every year. Employees also enjoy discounts, free food and transportation, and gym memberships.