JPMorgan warns new hires against job-hopping in first 18 months

JPMorgan Chase issued a stern warning to incoming analysts, stating that they would be fired if found to have accepted a job offer elsewhere within the first 18 months of joining America’s largest bank.

The details were revealed in a leaked memo meant for new hires.

CEO Jamie Dimon has consistently pushed against private equity firms’ aggressive recruiting of junior bankers. He called the practice “unethical” and a conflict of interest during his recent speech at Georgetown University.

While JPMorgan doesn’t explicitly name private equity, the message targets the “on-cycle” recruitment trend, where PE firms lock in hires years in advance.

The bank is tightening its stance by making participation in training mandatory and limiting job searches to personal time.

The memo also shortens the analyst program from three years to two and a half, with earlier promotion opportunities, as JPMorgan looks to retain top talent amid fierce competition.