What does it do?
J P Morgan is the investment banking arm of J P Morgan Chase, one of the best known global financial services firms. It has assets of more than $1 trillion and more than 160,000 people working in 50 countries.

What does it employ graduates for?
It expects to have about 300 vacancies in investment banking, finance and IT in 2005.

Where are the graduate jobs?
London, the South East of England and Scotland.

What will it be paying in 2005?
Salaries are described as “highly competitive” — new graduates this year were paid up to £35,000 pa.

What’s the competition like?
The bank received more than 13,000 applications for its 300 graduate vacancies in 2004.

How has J P Morgan done in the Top 100?
2000: 16
2001: 11
2002: 21
2003: 49
2004: 16

THERE ARE no prizes for guessing which aspect of working for an investment bank is most appealing to graduates. More than three quarters of those applying for banking positions in 2003-04 cited “excellent starting salaries” as their main reason for pursuing a career in the City.

With salaries well in excess of £30,000 on offer to new recruits, this focus on remuneration is understandable, but it is just one of the reasons why investment banking is so popular. The allure of prestigious, exciting jobs in a fast-paced, high-powered environment meant that more graduates applied for banking positions last year than any other career destination. J P Morgan is one of several City banks in The Times Top 100 Graduate Employers which has stepped up its recruitment and is poised to hire 50 per cent more graduates in 2005 than it took on two years ago. Although the bank is well known for its investment banking jobs, it also recruits graduates in seven other areas: credit and rate markets; equities; investment management; global credit risk management; treasury and securities services; operations and business services; and technology. Most of these businesses are firmly within the City of London’s “square mile”, but there are opportunities outside the capital, for example at the bank’s technology centres in Bournemouth and Glasgow.

J P Morgan recruits throughout Europe for its graduate programme, so despite the increase in vacancies, competition for places remains intense. Entry standards are predictably high but an exemplary academic record on its own is not enough. Applicants also need a full CV of extracurricular interests, work experience and a passion for the business. A second European language is considered essential for some roles. For the few who make it through the selection process, life at J P Morgan will be demanding. Long working hours are often the reality but the emphasis at the bank is on performance, rewarding achie-vement rather than sacrifice.

Martin Birchall is editor of The Times Top 100 Graduate Employers

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