Our senior bankers are promoted solely based on ability to bring in revenue, big revenue. Nobody is looking at actual leadership ability or skill outside of bring in revenue. When you have situation like this internal business processes tend to be very inefficient as people who are supposed to lead and manage are unable to do so, they do bring in a ton of revenue for JPMorgan Chase. I am surprised that we do not have more layoffs since this practice really hurts the firm. At the same time, this affects pretty much all Investment Banking houses, so cannot complain much about this.
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At JPM it is VERY HARD to move up, and you may be laid off along the way, you never know. But if you like and know how to kiss up and and do things by kissing up you will move up. On the compensation side, be careful as Pay does not start out will but in the end it could go up. Focus on your work, do not worry about pay and layoffs, money will come at some point if you stick around long enough.
Advancements within the firm are not as straightforward as it was put out to as it will be communicated to you during the recruitment process. I myself did everything that's was put out to get your name known around at the firm to move up into desired positions and after almost four years I still haven't moved forward.
This is so true