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Hello, what is working in retail banking like at JPMorgan Chase ? Specially the branch manager role. I’m looking in the Columbus area. How is pay, culture, benefits, sales environment, meetings, etc. How easy is it to transition from retail banking to corporate. I hear the Polaris campus has great opportunities, I was thinking about getting my foot in the door through retail then transferring to corporate ?
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After submitting my resume for the Global Finance and Business Management full time position at JP Morgan (my dream job!), I got a HireVue invite the next day! However, I completed it 9 days ago and still have no response....
When do we get a response in average, and after how much time does it mean I probably am not getting an offer to continue?
Thanks!
JPMorgan Chase JPMorgan Investment Management
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Think about expenses and city and state taxes
I’ll be honest, it does much less than cover expenses. You’re going from 0% state tax to state and city tax. That, combined with higher rent + COL, can make that higher salary completely wash out. I’ve been back and forth between NYC and Dallas for the past 8 years. I’m actively interviewing to move back to Dallas for a $30K total comp payout, but our quality of life will be substantially improved. Our situation is likely different, though, we have expanded our family and could not, in good conscience, pay $6K for a 2bedroom here and $3k for daycare. For those reasons, we are heading back south.
If you're contemplating moving from Texas to NYC, you'll need to get a massive bump to live as you're living. And let's be honest, you're really not going to be living in a familiar way. Life in New York can be a challenge, and unless you've already had some experience in the city it's really not a great idea to just jump into it. Life in the city honestly isn't for everyone.
Cost of living and cost of labor can be much different. From Texas to NYC you typically will not receive the pay increase to maintain a similar lifestyle. People that make the move "want" to be in NYC for a period of time.
Heres my perspective to give you an idea. Before coming to a high cost area I worked in Wisconsin. Salary more than double by moving to high cost but cost of living more than tripple. rent alone in high cost for the year is 1.5 times what i spent on every thing for the year in low cost. lol. barely can saved in high cost after mainting same lifestyle. low cost saved a decent % of salary.
What do you mean by a $30,000 total comp payout? Is that a reduction of salary?
I wouldn't want to leave Texas for NY. It's a higher cost of living and the winters are worse there than what Texas normally sees. NY also has state and local income taxes.
Here is a cost of living calculator, enter your current city and the city you are planning to move to, along with your current salary, and it will show you what you need to be making there, just to maintain your current lifestyle.
https://www.bankrate.com/personal-finance/cost-of-living-calculator/
It does look like between Dallas and NYC, you will need to make more than double what you are now, just to maintain your current lifestyle.
I moved from suburbs of Chicago to suburbs of LA and only lasted 3 years. So many things are more expensive than just rent and income taxes. Coincidentally then moved to DFW and am so happy I did. Best financial decision of my life.
There’s more to life than local tax rates…