We've negotiated many JP Morgan offers. Don't leave $100K+ on the table.
JP Morgan does negotiate, however, it is also important to note that JP Morgan does not pay competitively for technical roles - especially when you compare it to FAANG company compensation. That said, if you have competing offers from companies such as Facebook or Google, JP Morgan will very likely not be willing to match them. You also have to be mindful that the first offer they make you is almost never your current market value.
- Base salary
- Equity Package (It is not included in all JPM offer packages and is usually only offered starting at the VP level. Please see JPM’s RSU vesting schedule below)
- Performance Bonus
- Signing Bonus (not included in all JPM offer packages)
JP Morgan offers an Annual Incentive Compensation in cash which is awarded under the company’s performance-based incentive plan and paid in January. Even if you start mid-year, you can still potentially earn the full target bonus since it is technically based on employee and business performance. Some employees claim they received their full target bonus after their first year of employment but it would no longer be a guarantee to receive the full amount in the succeeding years of employment.
JP Morgan rarely offers fully remote roles but there have been rare cases - these are subject to leadership approval or your manager’s discretion. For hybrid arrangements, JPM requires at least 3 work days in the office.
JP Morgan does offer relocation packages ranging between $5k-10k. We have not seen JPM go above $10k for relocation. They also offer green card assistance after your 1st year.
JP Morgan does not usually offer equity and most of its compensation package is in the form of cash. In our negotiations with JPM, we’ve been able to move both the base salary and the performance bonuses by negotiating. Relocation is also negotiable considering JPM rarely offers remote roles.
JP Morgan does not usually require competing offers in writing but they will, however, ask questions about other opportunities and will also potentially ask for the breakdown of those offers in terms of base, bonus, and equity.
JP Morgan rarely goes above band and would usually require strong negotiation leverage such as a high competing offer from other companies in a similar pay band such as Goldman Sachs and Morgan Stanley.
Your relationship with the hiring manager can play a big part in successfully negotiating with JPM. For example, we’ve seen JPM recruiters defer some decisions to the hiring manager, such as extending the deadline for an offer. However - as with most companies - this varies by team and individual hiring manager.
JP Morgan’s hiring process usually consists of 4 rounds of interviews before the offer stage..
- Online numerical test
- HireVue interview - a video-based interview that uses an algorithm to test non-verbal cues – such as facial expressions, eye movements, body movements, and nuances of voice.
- Technical interview
- HR round - usually the final round which involves technical and behavioral interview questions.
While JPM's base salary and performance bonus should be the focus of your negotiation, it's worth comparing perks with your other offers.
- Health and wellness benefits: They offer insurance plans for dental, vision, life, accidents and disabilities. Their healthcare packages can also cover family dependents.
- Time off programs: The company provides 20 days PTO.
- Retirement savings and programs: Includes 401(k) savings plan, retirement plan, and stock purchase schemes.
- Employee programs including parental leaves, back-up childcare services, flexible work options, discounts on banking services, electronics, entertainment, fitness programs, travel and more.
Analyst (entry) - 502 to Associate - 601
Senior Associate - 602
Vice President - 603
Executive Director - 604
Managing Director - 605
Equivalent Level at Google
L3
L4
L5
L6
L7-L8
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Coming from a non-FAANG background, I was shocked to find out how much I could be earning. Before I signed up with Rora, I made the mistake of telling Amazon my current compensation. Thankfully, Rora knew exactly how to fix it and ended up getting me an offer that was 2.3X what I previously made and more than $600K higher than Amazon’s initial offer!
Through several weeks of interviews, Ganesh was always available to make sure I knew what to say for each conversation. I interviewed with start ups, Google, Facebook and Amazon and was really impressed that Rora knew the comp ranges and were able to give me tailored advice for each – even the start ups.
There ended up being two particularly complex moments in my negotiation. One of the start-ups I had a personal relationship with and I wasn’t sure how it would affect the negotiation. I like that there was a focus on my individual circumstances and that they were leveraged to get me a higher offer. The other situation is that Amazon made a mistake on my written offer and initially wouldn’t rectify it. Ganesh was able to guide me through a challenging conversation to get it resolved.
Thanks to Wilson and the team at Rora I got a ~$250K increase on my remote Facebook offer! I was initially worried I wouldn’t have much leverage because Facebook reached out to me, and I wasn’t interviewing anywhere else. Rora introduced me to an Amazon L7 recruiter and helped me get that process started. I didn’t even end up needing to finish the Amazon interviews, since we were able to use some early compensation conversations to justify our numbers to Facebook.
At one point I was also considering pushing for an E7 role, and they wrote up a great script for me to broach the subject with my recruiter. She ended up giving me the option to do an additional interview to be considered for the higher-level position.
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As an engineering leader with decades of experience and having now gone through the negotiation with the team at Rora, the only thing I can say is — get the help. Whether you realize you need it, or even if you think you don’t. Just because you have done well in engineering doesn't mean that you understand the tactics and limits of the recruiting process.
Rora helped me get a $200K increase on my original Facebook offer without any competing offers. It was clear that Rora was deeply familiar with Facebook's negotiation playbook. I’d honestly give the experience an 11/10.
In addition, Rora guided me on how to get the position switched to a revised remote role which was a huge deal at a personal level. They showed me how to redirect FB’s questions so that I could explore the possibility of not relocating, without ever having to say no to my original offer.
This is my first FAANG role and I'm so happy I worked with Rora (thanks again Annie!) for the negotiation. My goal was to increase my Google offer, but I was in a tricky situation where I only had 1 other interview (no offer yet) at a small startup. With their guidance, I managed to get a $240K increase on my Google offer, despite Google's policy of requiring cross offers in writing to justify an increase.
The mock negotiations were a big part of why I was able to get this increase. Going into the negotiation, I assumed the key factor was what to say but I quickly learned that how you say it is equally if not more important. This was clear when over the course of the call"no" turned into "I'll see what I can do" and eventually"I think we can make this work". A big part of this was also having someone with me on the calls to provide real time guidance. This took a lot of the stress out of the situation. I can't recommend this team highly enough!
After receiving several job offers, I needed to make a decision within a few days. I wanted to make sure I was getting the best offer possible, so I decided to use Rora. I was very pleased with their service. My coach, Sameer, was well prepared and had information about what compensation increases were likely possible. He provided detailed scripts covering a range of scenarios, and he did practice negotiations with me that helped me feel confident when I had the actual conversations.
With his help I was able to increase one offer by $45k per year plus get a $50k signing bonus and then use that to increase my offer from Square, which was my first choice. All throughout he was very responsive as I was dealing with some tight deadlines and looking to wrap things up quickly. Rora's fee was only a tiny fraction of the increase they helped me negotiate, and even though they would have made more money if I had taken the highest offer, Sameer always put my goals first and never pressured me to do so. I highly recommend Rora!
My friend introduced me to Rora and I’m so glad they did. I initially did some calculations to see if working with them would be worth it - my final increase ended up being ~3x higher than what I had estimated to be possible!
Their data is much more accurate than anything I found online. Without Sameer's guidance, I would have never known (and would have probably been too nervous) to ask for >$800K for anAmazon L7 offer. Of course, it's not just not enough to throw out a big number, you also need to be able to justify it. Sameer guided me through negotiating an up-level at another company, which I didn’t even know was possible at my level. With their scripts, I was able to leverage my competing offer to get exec approval for my Amazon offer. They also knew all the tricks Amazon would play (e.g., assuming 15% stock appreciation) and exactly how to counter them.
My total 4-year compensation increased by $570K. I don't think I've ever had a higher ROI – I’m very thankful that this service exists!
JP Morgan
has a unique set of negotiation policies. If you don’t have experience negotiating with them, you risk losing out on large amounts of money because of very small mistakes.
There are many of these rules you need to know to get the highest
JP Morgan
offer possible