This year, JPM was once again named the world's #1 private bank by Euromoney, and it's not just their AUM that's impressive - their compensation is becoming increasingly attractive too! Ever wonder about JPM PB's recruitment strategy? Or their secret interview sources? Read on to find out!
💡How Does JPM Ensure They Recruit Top Talent?
JPM Private Banking is divided into:
▶️PB Advisor Team: Follows a Single Coverage model, where RMs are responsible for both client relationship management and investment consulting.
▶️PB Solutions: Equivalent to a Product Team, responsible for providing market advice and insights to support investors. They have higher technical knowledge requirements.
Interview Process: They're Already Assessing Summer Analysts (and some of their application deadlines expire in mid-August!
JPM interviews involve 3 key stages:
▶️1st: Video Interview
▶️2nd: Face-to-face / Phone Interview
▶️3rd: Final Panel Interview / Superday
The assessment content is quite rigorous, with a guaranteed Case Study in the final Superday round. Candidates will be given a client profile including their:
Background: Family, age, retirement goals, lifestyle, children's education plans
Risk Appetite: Aggressive vs. conservative
Existing assets, investments, and returns
Financial goals
Macroeconomic trends
Based on this information, you and your team will need to complete various tasks:
- Investment recommendations (propose a portfolio to meet the client's lifestyle needs)
- Key challenges (how macroeconomic conditions may impact their investments)
- During your team discussion, the interviewers will regularly interject with new client requests, challenging your Asset Allocation. This not only tests your analytical abilities, but also your capacity to handle pressure.
If you don't even know what skills and experiences you need to highlight in JPM interviews, or lack the ability to handle such challenges, how can you expect to join the premier private bank?
And speaking of interview sources, did you know...
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