Does the JP Morgan strategy team underpay? I was quoted 90k base for a senior analyst role with 2.5 YOE. They told me they wouldn’t consider me for the next level up, which would pay only 110k base anyway.

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Wow. Yeah. Some parts of their team might not underpay but clearly that one does. I’m sure their hours aren’t great either.

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Apparently lol.

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That’s not a good look.

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And yet they probably have no trouble filling the roles. I think it’s buyers market and don’t expect banks to overpay for talent for the next couple of years until things become more predictable. Also Jamie Dimon wants his employees back in the office so as soon as the vaccine is available, wfh there is over.

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I did consulting to a jpmorgan strategy team at VP level. I came in $180k base and $50k bonus. Which is decent I guess. But the raises have been pretty atrocious (3% last year despite good reviews). Also can be tough to make ED in many strategy groups, and there’s not many exits into the business so people get stuck. On the positive the projects have been super cool and I get frequent interaction with my LOB CEO. Work life balance was great before Covid, but has been atrocious the last 8 months or so. Re: Op, I’m REALLY surprised they wouldn’t bring you in as associate with 2.5 YE...did you not get ur first promotion from consulting?

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Strategy world is small, so don’t want to give further details and doxx myself. I will say most strategy teams are about 2/3 ex consultant (remainder being ex-IB, and direct hires into analyst or associate rotational programs), and of the consultants, about 2/3 are MBB and 1/3 tier-2. It’s my perception that there’s been more non-MBB hires the last few years, presumably because the comp has gotten less competitive...

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What’s their bonus structure

Recruiter didn’t say explicitly the bonus ranges but told me to expect ~10%

Was that NYC or TX

Ouch

Yikes

At that rate, it looks like they want to hire warm bodies rather than talent. It tells you something about the scope of the work, their culture or both.

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Hard pass

JP usually underpays in a lot of things based on industry. You can find better salaries at competing FS companies. (Worked there for 3.5 years). Best option is to try and negotiate or look for a better officer if money is your leading factor. You won’t see substantial pay at the analyst level.

Surely this isnt ideal, but I don’t think this is egregious, either. You’ll be just shy of $100K with the bonus. What are your expectations? With 2.5 YOE I think thats probably in line, albeit at the low end of the range

I’m up for promotion at my firm to make 140-160 TC this year end ... so I was expecting it to be roughly in line with that.

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I found that F500 corporate strategy teams didn’t have great comp in my job search. Tech was a lot better.

@JPM- can you shed any light onto when teams will be informed of 2020 bonus? Moved recently and specifically negotiated bonus eligibility but no idea how it normally works. Waiting with baited breath here...

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