JPMorgan Chase requires tech workers give 6 months notice before quitting
A veteran JPMorgan Chase banker fumed over the financial giant’s policy requiring certain staffers to give six months’ notice before being allowed to leave for another job.
The Wall Street worker, who claims to earn around $400,000 annually in total compensation after accumulating 15 years of experience, griped that the lengthy notice period likely means a lucrative job offer from another company will be rescinded.
Taking to the social media platform Blind — which allows career professionals anonymity so that they can freely post without concern about retribution from their bosses — the worker in the e-trade division lamented over the policy.
A spokesperson for JPMorgan Chase told The Post: “In line with other e-trading organizations, some of our algo trading technology employees have an extended notice period. This affects a very small portion – less than 100 – of our 57,000 technologists.”
The Blind note went on to say the worker was amenable to staying through the notice period, “but I am pretty sure the new employer will rescind the offer and not wait 6 months.”
A source with knowledge of the situation said that the bank adopted the practice of requiring long notice periods because it was short-staffed when the notice periods were shorter.
The source added that the shorter notice periods resulted in “having a longer lead time for new hires to start which created business challenges from a talent perspective.”
They don't say what the 'penalty' is. Because, without some kind of actually enforceable penalty, otherwise I'd just say "here's my 6 month notice" and not come in anymore.
Oh wait I wonder if this is a work around to the coming FTC elimination of non-complete clauses?
A veteran JPMorgan Chase banker fumed over the financial giant’s policy requiring certain staffers to give six months’ notice before being allowed to leave for another job.
The Wall Street worker, who claims to earn around $400,000 annually in total compensation after accumulating 15 years of experience, griped that the lengthy notice period likely means a lucrative job offer from another company will be rescinded.
Taking to the social media platform Blind — which allows career professionals anonymity so that they can freely post without concern about retribution from their bosses — the worker in the e-trade division lamented over the policy.
A spokesperson for JPMorgan Chase told The Post: “In line with other e-trading organizations, some of our algo trading technology employees have an extended notice period. This affects a very small portion – less than 100 – of our 57,000 technologists.”
The Blind note went on to say the worker was amenable to staying through the notice period, “but I am pretty sure the new employer will rescind the offer and not wait 6 months.”
A source with knowledge of the situation said that the bank adopted the practice of requiring long notice periods because it was short-staffed when the notice periods were shorter.
The source added that the shorter notice periods resulted in “having a longer lead time for new hires to start which created business challenges from a talent perspective.”
They don't say what the 'penalty' is. Because, without some kind of actually enforceable penalty, otherwise I'd just say "here's my 6 month notice" and not come in anymore.
Oh wait I wonder if this is a work around to the coming FTC elimination of non-complete clauses?
