Vault’s Verdict

Exciting times
Chase provides an “exciting,†“fun†and “challenging workplace,†respondents say.  The bank also provides a “highly ethical,†“very relaxed,†“very open†“great†environment with a “flat structure.† “All the employees are helpful and treat everybody with respect.† Workers at the firm “get the work done when they need to get it done, but they try to have fun and interact with other people while doing it.† You’re also “given responsibility early in your career†within a flat structure—â€you can go into anyone’s office and ask them for help.† And the firm trims the fat where it can—â€we are goal-oriented to cut costs and achieve results while being a diverse firm that provides the best financial services.† While there can be “lots of politics,†insiders generally give the overall company culture high marks.

Layer after layer
Insiders report mixed feelings regarding management.  One insider says there are “too many layers of management,†although he concedes that “it is easy to see how unproductive the bureaucracy can be.† Another contact concedes that “in the nearly five years I’ve worked at Chase, I’ve reported to 12 different managers,†but adds that “you have to embrace change and get used to the manager shuffle that goes on there.† And while there are also “people there who have managed to hold onto the same position and job for long periods of time,†“even they cycle through many managers.† But there is also “constant team-building throughout the firm—not just managers paying lip service to corporate mandates.† “Managers were flattered when you reached out to them,†one insider.

Expect to work mixed hours, too.  Although most employees “leave at 5 p.m.,†there is a “strong group of people who stay late.† In spite of this, “hours are flexible†and “many work from home on Fridays.† Mostly, “as long as you get your work done and make your meetings, it’s not mandatory to be in the building.† (Of course, “if your team worked with a remote group in India, you would need to be at work by 8:30 for conference calls, but “if you are not working with a remote team, it would be very feasible to show up at 10.â€)  And “turbulent market conditions†frequently make for longer hours, one insider confesses.

For the most part, the dress code is a “generally business casual†one when client meetings aren’t involved, where “slacks and a button-down†become many employees’ standard dress.  Depending on the department, however, “some would go quite casual with dark tennis shoes and rolled up sleeves—but most stick with the standard.†

Mixed bag
One thing insiders aren’t particularly keen on, however, is the pay.  “Poor compensation†is an issue, according to insiders.  It’s not all about cold hard cash, though—the company also offers “full benefits,†“four weeks’ vacation†and “five personal and six sick days.†  “You also have the opportunity to buy company stock at a 5 percent discount.† As far as advancing goes, opportunities happen “pretty much through the grapevine.† “You get to know people and they ask your superior if they could acquire you for their team.†

Diversity is mandatory
Insiders call the diversity at the firm “amazing.† Diversity efforts put forth by Chase include “mandatory group sessions that used large physical maps that included details like what the diversity mix will be in 2050,†says one insider.  Another contact adds that “people from all races and socioeconomic levels work hand in hand at the firm.â€

The future
The outlook for the firm is “strong,†maybe because the firm is “highly regarded.† Chase is “seen as the only bank lately that can add value to shareholders,†says one insider.  Indeed, it’s “the only publicly owned bank that can utilize its size and strength to lend credibility in shaky times.† It’s also “very well positioned relative to other banks suffering from credit write-downs and liquidity issues.â€