JP Morgan VP | Product Manager thoughts?
Hi, I've recently been offered a VP Product Manager role at JP Morgan and wanted to get the communities thoughts on working at JP Morgan. I'd be coming from a midsize tech company with the ability to work remotely forever. Based on JPM's CEO, there would be a small chance they would be ok with remote work. This wouldn't be a move for the TC, since it is essentially the same (see below). The move would be more to learn and gain experience in the financial industry. I'm curious what the culture is like at JPM. Would this being going backwards in ones career? Does the VP title at financial institutions even mean anything (at future tech companies)? YOE: 3.5 Current TC: 130K + 10% bonus + Equity JPM TC offer: 135K + potential of 20K annual bonus - Recruiter said it could be 20K, but could be zero. No stock. #jpmorgan #product #productmanagement #finance
Not a good idea to move here
Why do you say that? I’m on the fence, but leaning towards that as well. The recruiting process itself has been horrible. My recruiter ghosted me for 2 weeks and then calls me with an offer. Told him what I wanted my min base to be on our first call and he said that’s in this roles pay band, but then offers me lower than what we talked about and said this is the final offer.
I was recruited, so my experience was different, but this is a shit experience
I have the same title and PM role at JPM. A few things: 1) I have the same comp structure, though I have 21 YOE. 2) many people at banks are totally content with a VP role forever 3) VP at a bank basically means “a person with experience” - I’ve worked with some VPs that have 3-4 years total experience (like you) and others with 20+ (like myself) 4) I think it’s kind of hard to move to the next level and some of it comes with tenure - just being the longest on a team and stepping up when your ED leaves 5) Jamie Dimon wants people back in the office - read the last annual report 6) my WLB improved quite a bit after joining JPM as it’s primarily a US bank. Previously I was a global PM which meant I was working 18 hour days. 7) this is a massive organization- larger than most you’ve ever worked at. Every other company will seem small 8) you may get frustrated with the tech stack. Even if you are working on cloud stuff (GCP, Azure, AWS, IBM etc) JPM has restricted what you can run and what data goes in there. 9) I have been here for 2 bonus cycles - received 100% of my bonus 1st year and 95% in the 2nd year. Also, I got a small bump in base in my 2nd year after all bonuses were paid out. Feel free to ping me - happy to chat.
I also heard of you want to make it to the next level you have to get sponsors from the ED level.