JPMorgan Interview Questions

Application Process

The application, interview and assessment process for graduate roles varies somewhat between different lines of business at JPMorgan. For Technology positions, please see JPMorgan Technology Interview & Assessment. For all other roles, the application process begins the same way:

Online Application Form

In addition to your standard personal details and experience, the JPMorgan application form requires a 500-word covering letter, and includes a number of free-text questions. Application form questions are competency based and likely to address such issues as:

  • Why you wish to work at J.P. Morgan
  • How your background has prepared you for the challenge
  • Why you want to join J.P. Morgan and your chosen team/area
  • Your financial experience (Or, if you have no financial experience demonstrate your interest and aptitude by providing examples of other jobs that have required leadership and quantitative skills)
  • What are your strengths and weaknesses?
  • Where do you see yourself in 10 years’ time?
  • Why do you want to work in this industry / company?
  • Which location do you want to work in and why?
  • Describe a problem you faced and how you dealt with it

TIPS:

  • You can only apply to one business area. Duplicate applications will jeopardise your initial application.
  • Make sure you have done some research on J.P. Morgan, they will be expecting you to demonstrate your knowledge of the company and your chosen area.
  • As part of your application, it is required that you to upload your CV.
  • Download J.P. Morgan’s sample CV for hints and tips on CV writing.

Online Numerical Test

The numerical test is 25 minutes in length, and must be completed within 5 working days of submitting your application (except Asset Management: the test is 20 minutes in length and must be completed in 3 working days). Most questions require the interpretation of charts and tables. The test is designed by SHL.

JPMorgan provides some comprehensive examples of the online numerical and verbal tests here.

Interview and Selection Process

The format of the selection process for each division is listed here, with tips and further information about individual parts of the process detailed below. It should be noted that for Investment Banking, and Sales, Trading, & Research, this process applies to internship positions, as there is no open recruitment for graduate roles. For more information, see JPMorgan Graduate Schemes.

Interviews

Depending on the line of service to which you have applied, you may be asked a combination of competency, motivational, self-awareness, technical, or commercial awareness questions.

You will need to demonstrate your knowledge of J.P Morgan as you answer your interview questions. Prepare by:

  • Going to the on-campus presentations
  • Talking to J.P. Morgan staff
  • Study the J.P. Morgan website, programs and culture.

Most of the J.P Morgan interviews are competency based and be prepared discuss:

  • Previous jobs
  • Experience solving problems
  • Leading teams
  • Topical business issues

J.P. Morgan state a preference for interview answers to be phrased using the Problem-Actions-Results (PAR) as this demonstrates your problem-solving skills.

  • 1. State a problem you encountered at work or university
  • 2. The actions you took to solve it
  • 3.The beneficial outcome
You will also be given the opportunity to ask questions yourself. Be sure to have some prepared.

Competency Questions

  • Describe a time when you exhibited good team work?
  • Provide an example of when you encountered problems in a team?
  • Explain an instance when you influenced someone?
  • Describe a situation in which you changed something?
  • Tell me about a situation where you showed leadership?
  • What is your biggest achievement?
  • How would you invest 10,000 pounds?
  • Tell me about a time when you failed to meet an objective.
  • Provide an example of a situation in which you had multiple competing deadlines –how did you prioritize?
  • Who is a leader you admire and why?
  • Describe a time when you successfully persuaded a group of people or a team to agree with you?
  • Describe a time when you had to give a presentation to a group of people?
  • How do you adapt your presentation style to meet the needs of an audience?
  • Did you meet the deadlines? What did you or would you have done if you were unable to meet the deadlines?
  • You're taking a document to an important client meeting that starts in five minutes and you find a critical typo. There is no time to reprint. What would you do?
  • Which is better: to be respected or to be respectful?
  • Describe a time when you used your negotiation skills?
  • Which is better: meeting a deadline or doing a perfect job?
  • What three things would your friends say about you?

Motivational Questions

  • Why did you choose JP Morgan?
  • Why did you choose this department over the other departments?
  • Where do you see yourself in 5-10 years?
  • Why did you pick your university?
  • Why did you pick your university course?
  • Are you planning to do MBA?
  • What motivates you?
  • Why do you want to work in this industry?

Commercial Awareness/Technical Questions

  • What do you think Finance at J.P. Morgan does?
  • What's going on in the markets currently?
  • How do any new regulations influence the bank?
  • Tell us any recent financial news?
  • Who are J.P. Morgan's key competitors?
  • What caused the recession?
  • How could a financial crisis be prevented/solved?
  • What do you think you will be doing in your first year/internship at JPMorgan?
  • What's 17 x 18?
  • What is share capital?
  • What is IPO?

For certain positions, you will also likely to have to:

  • Solve a riddle
  • Draw some graphs
  • Do percentages and arithmetic mentally

TIP:The most important thing to do in this interview is keep your cool. They will be trying to find your breaking point. Do not panic and become flustered, this is the response that they are trying to achieve. Take your time when solving problems, and do not be afraid to speak your reasoning out loud.

Self-Awareness Questions

These types of questions will likely follow a group or individual task at an Assessment Centre. You will be asked to evaluate your own performance as well as your group's, and to identify your own strengths, weaknesses, and areas for improvement.

'You can take practice aptitude tests to improve your interview performance here

Written Numerical Test

The numerical test is performed on paper. The test is designed by SHL. The test is timed and you will be allowed to use a calculator. Calculator (you may bring your own), pencil, eraser and scrap paper will be given. The test is 25 minutes long and there are 18 questions.

The test will require you to:

  • Perform basic calculations
  • Interpret information contained in tables, charts and graphs
  • Use percentages
  • Use ratios
  • Use fractions
  • Use logical thinking
  • Perform calculations and reasoning using time and dates.

No mathematical experience beyond GCSE is required, although a degree with a technical background will be an advantage. There will be extreme time pressure during this test. You should work as swiftly and accurately as possible. It is extremely important that you manage your time appropriately on the test, and move on once a question's allocated time has passed.

Most people will need to practise the numerical reasoning test to pass it. Pages 7-23 of this book may prove extremely useful in preparing for any of the numerical tests.

Assessment Centres

The format of your assessment centre will depend on the division to which you have applied. See the list above to view the formats for each division.

Case Study

In some cases, preparation material will be sent to you by email before you attend the Assessment Centre. You will then be given a package of documents that provides information on a scenario similar to the kind you are likely to face in your department. The case study will either present you with a business problem - for which you have to come up with possible solutions - or a choice, such as a choice of possible acquisitions/investments, and you will have to decide on the best option. You will be given time to read over the material and answer the questions given. The format of your answers will vary depending on your department: for example, IB Risk applicants write down their answers on a computer, whereas Operations applicants prepare their answers in the form of a presentation.

Role Play/Presentation

You will then have either present your answers to the case study to a manager using a flip chart, or you will engage in a role-play exercise in which you will act as though you are briefing a client or superior. You can expect to be questioned on your reasoning, so make sure you can justify your choices and solutions.

Group Exercise

The topic of this exercise will likely be the same as the previous case study, possibly with new information added. The group will have 35 minutes to discuss the topic, demonstrating that they can work well as a team. This exercise may simply take the form of a discussion, or you may be required to reach a conclusion/solution as a group, or you may have specific goals to achieve within the time frame. In the case of Asset Management, the group has the opportunity to choose from 4 possible discussion topics. The exercise then involves working collaboratively to select the main points to present to a panel, followed by a 5 minute presentation as a group. Be sure that you speak enough but not too much during the discussion. Do not interrupt other candidates or dismiss their ideas. Even if the exercise takes the form of a debate, it is important to remember that this is first and foremost a teamwork exercise.

Problem Solving (Fast Track) Exercise

The fast track exercise will vary, and they are designed to test you data analysis and problem solving abilities. As these do not require any outside information and rely largely on logic, they are difficult to prepare for. For example, you may be given a set of cards and have to find a logical pattern in them to determine the missing information.

You can prepare for your Assessment Centres with online training - click here

Usually, you will be notified within 72 hours of their decision.

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