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Too many managers

Vice President - Technology
Former Employee
Worked at JPMorgan Chase for 9 years
October 8, 2015
Jersey City, New Jersey
1.0
Doesn't RecommendPositive OutlookNo CEO Opinion
Pros

The benefits and salaries are decent, at least initially. These benefits include health insurance, dental insurance, legal coverage (Hyatt Legal Plans), and a 5% match to 401K.

Cons

While the money is decent, you're going to work a lot of hours, both evenings and weekends. Expect a minimum of 50 and up to 80.

Very top-heavy in management and a small amount of people to do the technical work. This creates a highly stressful environment in which to work, and it is reflected in a high turnover of skilled technicians.

Advice to Management

The highest level of management seems to be driving the company quite well, as reflected by profits and dividends. However, they clearly are unaware of how the mid-level management functions, or how many levels of managers there really are.

Recognize and appropriately reward your employees. Getting a bonus of $4000 at the end of the year is nice, but if you break that down into how many evening and weekend hours were actually worked, it winds up being just a few dollars an hour.

Employee Satisfaction Surveys are completely invalid, as the user must enter their SID, and the reports go back to managers who only have 10 or fewer direct reports. It's very easy to figure out who said what, and the takers of the survey know that, so they lie. Use an external company and don't require an SID. That will give you a report of actual feedback.

Be aware that the "good ole boy network" is alive and well at JPMC. There are people who only have the job they have because of it. It's costing you money.

Any manager should have manager training and learn how to encourage their staff. Managers should be rewarded based on the team output and the team satisfaction.

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