JPMorgan Graduate Profile Page

A leading financial services firm with global scale and reach, JPMorgan offer their clients the most complete and innovative solutions in the industry to help them achieve their strategic goals.

JPMorgan is the investment banking business of JPMorgan Chase, a leading global financial services firm with assets of $803 billion and 160 000 people working across 50 countries. JPMorgan serves the interests of clients with complex financial needs, from major corporations and governments to charities and private individuals.

JPMorgan Graduate Recruitment

Why JPMorgan?

JPMorgan offer graduate opportunities in a number of different areas. Researching into each of JPMorgan's offerings, graduates can decide where they want to fit in and what graduates could be doing at JPMorgan:

JPMorgan Graduate Investment Banking Programme

JPMorgan Graduate Sales, Trading & Research Programme

JPMorgan Graduate Asset Management Programme

JPMorgan Graduate Risk Programme

JPMorgan Graduate Operations, Finance & Business Management Programme

JPMorgan Graduate Technology Programme

JPMorgan Quantitative PhD Programme

 

Investment Banking recruits analysts for four key business areas for JPMorgan:

• Country Mergers & Acquisitions teams
• Pan-European Sector teams
• Country Capital Markets teams (Debt and Equity)
• Securitised Products team

As an Investment Banking analyst with JPMorgan, graduates will learn to carry out in-depth company and sector research, analyse the data and draw financial and strategic conclusions from their work.

Country Mergers & Acquisitions teams

Here graduates will be working on transactions within their specific country and across all industry sectors. On a deal team, graduates will work alongside senior Mergers & Acquisitions (M&A) colleagues with knowledge of executing M&A transactions in that country as well as colleagues from the Pan-European Sector teams with a detailed understanding of executing M&A transactions in that industry.

Pan-European Sector teams

Here graduates will use their acquired sector expertise as well as M&A and Capital Markets knowledge to come up with creative transaction ideas to assist JPMorgan's clients in their strategic development. 

Successful graduates will help value the target, assess its merits, define the negotiation arguments and tactics with the M&A team, assess the acquisition's impact on the client and work closely with Capital Markets team to determine the optimal financing structure. 

Country Capital Markets teams

Graduates will be closely involved in the debt financing execution process and would be expected to co-ordinate the production and distribution of bond pre-marketing materials such as investor presentations, Bloomberg roadshows or loan information memoranda. Graduates will work closely with the bank and bond syndicate teams, help focus the respective sales forces on the transaction and assist them in answering credit related questions. Graduates will co-ordinate the documentation process with lawyers and the internal Transaction & Execution group, as well as due diligence sessions with management. As a core part of the team graduates will also assist with the marketing of the transaction internally and to other potential issuers.

The team will rely on the graduates analytical and time-management skills and expect them to take rapid ownership of key components of the interaction with clients. Graduates will be actively involved in all aspects of new business solicitation, developing new ideas and pricing new issue opportunities. Graduates will need to develop skills quickly.

Securitised Products team

From day one graduates will be involved in the marketing and execution of securitised financing solutions for a broad range of JPMorgan's clients. The graduate's analytical skills will be put to the test when it comes to assessing and modelling cash-flows and it will be a steep learning curve as graduates come to understand all the components that make up these highly structured transactions. Graduates will work closely with a broad range of professionals from different areas of the bank and gain a broad understanding of all the bank's products that can be put to use in securitisation.

Being part of a global team means that coordination with JPMorgan's offices worldwide is key.  

 

The main areas within Sales, Trading & Research are Currencies & Commodities, Equities, Credit, Rates, and Emerging Markets.

But what will graduates be doing?  Broadly speaking, the roles are split as follows:  Research, Structuring, Marketing, Sales, Trading, and in Equities only  - Sales Trading.

Research

The role of equity research is to value companies, determine what drives share prices and then make investment recommendations. Credit research focuses on the credit worthiness of companies and the impact of this on the price of corporate bonds. The research role has evolved with the stockbroking business.

The aim remains the same: to help traders and money managers profit from our knowledge base.

Structuring

Graduates will be connecting Sales/Marketing and Trading in the space of complex derivatives, i.e. where an additional layer of expertise regarding financial engineering is required in the workflow.

JPMorgan is renowned for its product innovations in this area and are proud to be constantly at the forefront of the market. The key factor for achieving this position is by making the recruitment and development of the best graduate talent in the market a top priority in JPMorgan's business strategy.

Marketing

Graduate marketing analysts form an integral part of the deal making process, from being responsible for cultivating relationships with clients, to understanding their needs and advising them on the wide range of derivative solutions JPMorgan can provide.

The Marketers act as a hub for the different groups involved in constructing the deal, creating the communication link between the investors, the sales force and the structuring team.

Sales

As a Salesperson, graduates are effectively the link between JPMorgan's Researchers, Traders and the client. Building great relationships with clients is essential as graduates provide the analysis, insight and solutions to their needs.

A graduate's day on the sales team will start early as the first task will be to review overnight market activity, and form independent views. Then graduates will be on the phone, calling clients to give them fresh ideas and news, which they cannot get from JPMorgan's competitors. Graduates will also be working proactively to get the best market prices for clients so they trust and value the advice.

Trading

Graduate traders actually price and execute all financial transactions. They buy and sell assets - either for JPMorgan's clients or on behalf of JPMorgan itself. They manage risk - neutralising any exposure JPMorgan might incur by entering a transaction with a client. This is known as hedging.

There are two types of trader: Market-Makers and Proprietary traders. Market-makers provide liquidity and market insights to JPMorgan's clients. Proprietary traders invest on behalf of JPMorgan.

Sales Trading (Equities only)

Graduate Sales Traders speak directly to the dealing desks of JPMorgan's clients, who range from institutional investors to Hedge Funds. As a Sales Trader, graduates would liaise with these dealing desks and traders to facilitate client business either via block, single, electronic or program trading. Graduates would also ensure that they give the best description of the flows and themes occurring within the market place. Graduates will need to ensure that clients are aware of any news flow that may be relevant to their business, so they are in the best position to make decisions. As clients are getting more sophisticated, so are JPMorgan's Sales Traders. 

 

Graduates could begin a career in Asset Management in any one of the following areas: Currency, Equities, Fixed Income, Investment Operations & Client Services, Client Infrastructure, Finance or Real Estate.

JPMorgan work to find a role that fits a graduates interests, skills and ambitions. Wherever a graduate starts they will get to work alongside some of the most dynamic professionals in the business and explore an exciting range of activities.

Currency

Graduates will initially be involved in preparing strategy orders and the daily management of JPMorgan's client portfolios, as well as running and maintaining business-critical spreadsheet models. As a graduate's career progresses, they will have the opportunity to rotate within the team and further enhance skills and experience with professional training, including CFA and the IMTP. 

Equities

Graduates could be working in any one of four teams: European Equities, Global Portfolios, Multi-Asset Portfolios and Emerging Markets Equities.

Graduates will be assigned to one of several roles, depending on the graduates aptitude, interests and JPMorgan's needs.

Fixed Income

A graduate can take several different career paths and roles within Fixed Income and do not necessarily require a background in statistics or mathematics, just a keen interest in the financial markets. A graduate could be working as an analyst within the Credit teams, responsible for analysing potential investments for the JPMorgan group. Alternatively graduates could work in the Client team, which pitches to existing or potential clients to win new business. In Research, graduates will expand their knowledge of fixed income capital markets and products, risk management and performance analysis. Within the Portfolio Management team, graduates will gain an insight into JPMorgan's core fixed income portfolio and transaction management capabilities.

Investment Operations and Client Services

Investment Operations is a middle office function providing operational support to the institutional asset management business, covering the trade flow through to cash management for JPMorgan's portfolios under management. The core teams are Trade Support, Data Management, Initiatives, Cash Management, Vendor Oversight, Fixed Income Middle Office and Transitions where graduates could be involved in a variety of tasks such as liaising with brokers, traders, cash managers and the overseas offices in order to achieve timely resolution of queries, servicing intra day requests from portfolio managers for the creation of new assets for trading purposes and the oversight of daily pricing for portfolio valuations.

European Client Services covers all aspects of client interaction for both retail and institutional clients who invest in a wide range of products ranging from segregated investment mandates to investment trusts. 

Client Infrastructure (Marketing, Sales, Strategy & Planning)

Graduates could be involved in analysing products, client segments and competitors to better understand the market and product positioning. As part of the Sales teams, graduates could provide operational support to clients, co-ordinate the reporting process or assist in the development of internal training programmes to enhance JPMorgan's client's product knowledge. Within Strategy & Planning, graduates could develop their product knowledge by researching and developing business proposals used to win new business or by learning how new funds are registered and launched and how prospectuses are updated. Finally, graduates could gain insight into the business as a whole by producing revenue and profitability reporting used by senior management.

Finance (Accountancy)

A graduate role in Finance could involve assisting with the production of monthly or quarterly management information, giving the business insight into revenues, expenses and profitability. Graduates could be processing legal entity bookings and ensuring adherence to controls around cash payments as well as providing commentary around expense items and forecasting of both revenues and expenses.

Real Estate

As part of the real estate team graduates could be assisting the acquisition officers in analysing potential property transactions. Alternatively graduates could be providing the asset managers with ongoing strategic management of the properties or with market and industry research.

 

JPMorgan break risk down into the five areas of Credit Risk, Market Risk, Operational Risk, Legal Risk and Reputation Risk, but only recruit graduates into Credit Risk. However, in training graduates will be exposed to further Risk areas.

As an analyst in Risk graduates will start their career with a tailor made three-year rotation programme aimed at developing graduates as a rounded Credit Risk professional. Graduates will develop expertise in assessing and managing the risks of both loan products, traded and operating products. Graduates will also have the opportunity to experience a trading environment, the pressures of transaction execution, discuss use of the bank's capital, perform in-depth reviews of various industries, contribute to setting strategies to reduce the firm's overall credit exposure and analyse credit risks on an industry, client and transactional basis.

Graduateswill gain a broad and enriching insight into JPMorgan's core business functions. JPMorgan offer a specialist rotational programme which allows graduates to experience a wide range of roles across diverse business areas and strategic functions. Graduates will get the chance to work in both line and project based roles. These rotations will give graduates the exposure required to develop and enhance cross-business understanding, which is critical for a graduates career development at JPMorgan.

On the Operations, Finance & Business Management graduate programme, graduates could be working in Investment Banking, Asset & Wealth Management or Treasury & Securities Services. Graduates will have the opportunity to experience a number of different roles in functions such as Client Services, Trade Management, Risk Management and Finance & Business Management.

 

Join the IT Employer of the Year 2006/7

Joining Technology at JPMorgan will place graduates at the heart of an organisation where fast-changing business priorities and market conditions call for constant innovation and cutting edge technologies. The variety of roles on offer to graduates is vast and constantly evolving, with numerous opportunities to gain technology experience across all business areas. This creates a very exciting environment for graduates in which to launch a career.

JPMorgan recruit a significant number of graduates from non-technical backgrounds with an interest in technology and an aptitude for this graduate programme. JPMorgan also welcome graduates from mathematical and analytical backgrounds or technical specialists in areas such as infrastructure, software or information architecture, who are interested in design and engineering. In this instance it is advantageous for graduates to have Real Time system experience, Unix, SQL and one of a number of application languages such as Java, .Net, C++ or VB. Whatever the graduates background, graduates will develop skills on some of the most advanced systems in the market place and enjoy opportunities to build uniquely broad experiences as graduates tackle challenges across JPMorgan's business.

 

JPMorgan offer a variety of roles within business areas such as Exotics & Hybrids, Proprietary Trading, Foreign Exchange (FX) and Quantitative Research.

Quantitative Research

Quantitative Research at JPMorgan is the industry leader in financial engineering, derivatives modeling and risk management. It plays a central role in product innovation, hedging and control. The group consists of more than 180 analysts who work with traders, marketers and risk managers across all regions and asset classes.

The team develops and maintains sophisticated mathematical models, cutting-edge methodologies and infrastructure that are used to value and hedge financial transactions, ranging from flow products to complex derivatives. It develops portfolio risk measurement methodologies as well as working on models for economic capital and credit and market risk exposures.

A role in Quantitative Research will be varied. It could include developing mathematical models for pricing, hedging and risk measurement or supporting trading activities by explaining model behaviour or implementing risk measurement and valuation models, to name just a few.

Why JPMorgan?

When JPMorgan asked their people 'why work at JPMorgan?' they couldn't think of a single reason. They thought of six. Graduates can take these six reasons as JPMorgan's promise of what you can expect when working with JPMorgan:

1. The scale, scope and prestige of the bank.

Graduates will benefit from JPMorgan's global success. With 34,000 of the world's finest minds, across the Investment Bank and Asset Management, in over 50 different countries, successful graduates could be doing business just about anywhere.

2. A reputation as a business innovator.

Successful graduates will be trained to think in new ways. Innovation has driven JPMorgan from the earliest days, and continues to drive JPMorgan now. New products, new ways of servicing clients, new partnerships and new ways of doing business. Relentless change is a principle that JPMorgan embrace. They are the bank that built corporate America, rescued the New York Stock Exchange, created the world's first billion-dollar corporation, invented the concept of relationship banking and pioneered in derivatives.

3. The quality of training and development.

JPMorgan will never say that they know it all. JPMorgan don't. There will always be new aspects of global finance that are new to them. It is essential that JPMorgan keep thoroughly abreast of any new developments.

Graduates development, then, will never stop. Training doesn't automatically cease as soon as graduates finish being a 'graduate'. JPMorgan take it very, very seriously. On one hand, JPMorgan's trainers include some of the finest minds from the world's best business schools; on the other hand, they include over 500 of JPMorgan's most senior people. The theoretical and the practical are combined at JPMorgan like nowhere else.

4. The chance to make a personal impact.

This is where a graduate can make a name for themselves. All told, JPMorgan are proud to employ over 34,000 people worldwide They may well share many common characteristics - intellect, ambition, commitment, for example ? but they share them in 34,000 different ways. JPMorgan expect ? no, demand ? that every employee have opinions, goals and a desire to make their voices heard. JPMorgan encourage and celebrate high performance. JPMorgan's best performers love their work and work as part of the team. 

5. The exceptional quality of work.

At JPMorgan graduates will master complex challenges. Challenges are usually difficult. JPMorgan test you professionally. JPMorgan force you to develop personally. And a successful JPMorgan graduate would not have it any other way. Graduates can work on the world's top deals, make the most complex trades, or launch the most cutting-edge products in global finance.  

6. The spirit of cooperation and teamwork.

Graduates will inspire, support, and connect. None of JPMorgan's many successes would have happened were it not for JPMorgan's open, intellectually productive culture. JPMorgan are a global network of the finest minds. JPMorgan expect their people to bounce ideas off one another, to support one another and to respect one another.