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JP Morgan Internship: Duties, Pay, Role & How To Apply

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JP Morgan is one of the largest and most well-known institutions in the world of finance.

It offers investment banking, asset management, and transaction services to millions of clients worldwide.

One of the main pathways to employment with this company is through the JP Morgan internship program.

It’s a competitive and sought-after experience that offers unparalleled career growth and learning opportunities to qualified candidates.

In this guide, we’ll run through the requirements, preparation tips, and key considerations for getting an internship in this prestigious organization.

Does JP Morgan Have an Internship Program?

Yes! JP Morgan offers internships for a wide variety of specializations, such as Computer Science, Investment Banking, and Human Resources.

JP Morgan internship locations include the United States, Australia, China, Singapore, India, and other countries across the globe.

Types of Internships Offered by JP Morgan

You can choose to apply for any of the following JP Morgan internships:

  • Pre-Internships: Programs for early-year undergraduates and MBA students interested in the industry, lasting for one day to a few weeks long
  • Summer Internships: 10–12 week internships intended for penultimate-year undergraduates
  • Apprenticeships: Opportunities for high school students who want to begin their careers in the firm

How Many Interns Does JP Morgan Have?

Each year, JP Morgan hires about 3,000 interns, pre-interns, and apprentices.

JP Morgan internship programs are available both globally and virtually.

In 2020, 55% of the company’s internship class identified as Asian, Hispanic, or Black.

This highlights the company’s commitment to providing meaningful internship opportunities from a diverse perspective.

JP Morgan Internship Positions

Some of JP Morgan’s major departments and business lines include Operations, Technology, Wealth Management, Investment Banking, and Audit.

Depending on your specialization, you may be interested in the following internship opportunities:

  • Software Engineer Intern: This role involves developing mobile banking features, trading systems, and new digital products for clients.
  • Real Estate Analyst: Interns in this role work alongside developers and investors in creating financial models for real estate projects.
  • Corporate Banking Analyst: This role involves managing the company’s relations with customers, stakeholders, and other financial institutions.
  • Markets Summer Analyst: Interns in this role perform various market analyses and sales research to assist and advise the company’s clients and partners.

What Does an Intern at JP Morgan Do?

As an intern at JP Morgan, you’ll work with industry experts to improve the company’s banking systems, investment products, and financial services.

You’ll also perform market research and data analysis to discover new economic opportunities and provide creative solutions to client concerns.

What Does an Intern at JP Morgan Usually Focus On?

Intern responsibilities at JP Morgan vary greatly depending on role and area of assignment.

Generally, interns’ daily tasks revolve around commercial banking operations, financial transaction processing, and customer service.

Interns also collaborate with teammates and mentors on high-impact projects that advance the company’s marketing, investment, real estate, and product development initiatives.

Who Does JP Morgan Target for Internships?

JP Morgan internships are open to all penultimate-year undergraduate students who want to gain valuable experience in the banking and finance industry.

Special programs and internships are also available for high school students, veterans, postgraduate students, and Ph.D.-level candidates.

Recent graduates can apply directly for their full-time positions.

What Is a JP Morgan Internship Like?

A JP Morgan internship provides limitless opportunities for interns to sharpen their skills through technical training, hands-on experience, and client interaction.

The program also includes numerous networking opportunities, peer collaboration, and mentorship from managers and executives.

JP Morgan Internship Process

For successful candidates, the JP Morgan internship typically begins with a week of formal training.

You’ll get to learn about the company’s business practices, services, and products.

Interns also have the chance to join meetings and network with industry professionals, as well as attend upcoming events at the firm.

Is It Hard to Intern at JP Morgan?

Some of the challenges for JP Morgan interns are long hours, heavy workloads, and a competitive environment.

They also have to fulfill the high-performance expectations of senior leaders and team managers.

Since JP Morgan is a financial services firm, dealing with cyclical transactions can be difficult, tedious, and repetitive for some interns.

What Notable Projects Can Interns Potentially Work On?

Mobile banking apps, payment platforms, and credit card features are some of the exciting projects that JP Morgan interns get to work on.

As an intern, you’ll have the opportunity to develop new products, marketing materials, and financial models as well.

AI & Data Science interns are welcome to participate in projects involving robotics, blockchain technology, and artificial intelligence.

How Many Hours Do JP Morgan Interns Work?

Most internship positions at JP Morgan are full-time. They require at least 40 working hours per week for up to 12 weeks.

Long-term internships are also available.

They can last for up to 12 months, depending on the specific program.

JP Morgan also has a free Software Engineering virtual internship program that takes about 5 hours to complete.

JP Morgan Internship Benefits

As an intern at JP Morgan, you’ll gain exclusive access to numerous benefits, such as training, career opportunities, and exposure to the company’s business lines.

If you plan on pursuing a career in the finance industry, a JP Morgan internship will definitely enhance your resume and credentials.

What Do You Learn in a Finance Internship?

A finance internship will provide you with the necessary analytical and technical skills to thrive in the finance, investment, and banking industry.

You’ll also boost your problem-solving and communication skills when dealing with clients and teammates on projects.

You’ll sharpen your time management and decision-making capabilities as well.

Are JP Morgan Interns Paid?

Yes, interns at JP Morgan receive hourly pay.

Aside from base pay, the internship program provides bonuses and a benefits package as well.

Interns can also request several days off, reasonable accommodations in schedule, and a work-from-home arrangement.

How Much Are JP Morgan Interns Paid?

Internship salaries at JP Morgan can vary depending on an intern’s role and assigned location.

According to Glassdoor, JP  Morgan interns receive an estimated monthly salary of $5,205.

This includes a base pay of $4,786 and a bonus of $419 per month.

Requirements for Getting an Internship at JP Morgan

To qualify for a JP Morgan internship, candidates must have good academic standing, relevant education and experience, and strong technical and communication skills.

They must also pass the company’s pre-employment screening procedures, which include a background check and a drug test.

JP Morgan Internship Acceptance Rate

Prestigious banks and financial institutions usually accept a select few candidates for limited internship positions. JP Morgan is no exception to this.

This year, the company received 270,855 applications for only 4,604 internship positions.

This is equivalent to an acceptance rate of 1.7%.

Suggested Areas of Study for JP Morgan Interns

An educational background in the following areas is ideal for most internship positions:

  • Computer science: Proficiency in developing, maintaining, and improving banking applications and systems
  • Economics and finance: Awareness of economic principles, market trends, and financial transactions that govern the world of business
  • Data analytics: Expertise in understanding, organizing, and presenting an analysis of financial data

Does JP Morgan Care About GPA?

Academic requirements for JP Morgan internships differ on a per-position basis.

Generally, the company favors candidates who have well-rounded academic backgrounds.

Most internship listings mention that the company prefers a minimum cumulative GPA of 3.2 (on a 4.0 scale).

Recommended Skills for JP Morgan Interns

The following skills are necessary for an internship with a financial services firm such as JP Morgan:

  • Office programs proficiency: Familiarity with Word, PowerPoint, and spreadsheet tools used in reporting and collaboration
  • Research and analytical skills: Capability to analyze market trends and use financial data in making business decisions
  • Programming expertise: A foundational knowledge of algorithms, databases, and programming languages

Does JP Morgan Background Check Their Interns?

Before employment, JP Morgan conducts a comprehensive background check on chosen candidates.

The company verifies candidates’  educational backgrounds, criminal records, references, and other pertinent information.

The background check also involves verifying interns’ previous employment, including their position and time spent with past employers.

Does JP Morgan Drug Test Their Interns?

As part of JP Morgan’s drug testing policy, interns are required to take a urine test at a local testing center.

Only a Substance Abuse Mental Health Service Administration (SAMHSA) certified laboratory can conduct the test.

The process usually takes place right before the internship start date or during your first week at the firm.

Do JP Morgan Interns Get Hired?

Yes, JP Morgan provides high-performing interns with full-time offers after finishing their internship.

Career progression is one of the reasons why this company is known for having top-ranking internship opportunities.

How Likely Will an Internship at JP Morgan Turn Into a Full-Time Job?

JP Morgan’s internship program is one of the main pathways to landing a coveted full-time position in the company.

A large number of full-time analysts at JP Morgan were previously interns.

The majority of summer interns at JP Morgan receive entry-level offers after completing the firm’s rigorous assessment program during the internship.

How Do I Get an Internship at JP Morgan?

The steps of how to get an internship at JP Morgan include submitting an application and passing a round of interviews with the company’s recruiting team and hiring managers.

Where to Find JP Morgan Internship Opportunities

You can find and apply for JP Morgan internship opportunities through the following channels:

  • JP Morgan internships website: Displays the listings for open programs, available locations, and corresponding application requirements
  • Campus career center: Visit your university career center to find out if JP Morgan will be visiting your campus for recruiting events.

Interview for a JP Morgan Internship

After applying, chosen candidates will receive an email invitation for a video interview using a virtual interview tool called HireVue.

This gives candidates a chance to showcase their individual achievements and professional experience to the company’s hiring team.

The virtual interview involves three to five competency-based questions and a total time of ten minutes.

After this step, successful applicants are invited to an in-person interview.

What Should I Wear to a JP Morgan Internship Interview?

For both virtual and face-to-face interviews, JP Morgan advises applicants to dress professionally.

Suitable clothing examples include a suit, a blazer, a dress, or dress pants and a necktie.

How to Answer “Why Do You Want to Work at JP Morgan?”

In answering this question, emphasize your interest in the financial services industry and your passion for your chosen specialization.

Display your willingness and motivation to thrive in a dynamic, fast-paced work environment.

You can also highlight how your skills, experience, and personal values align with the company’s mission.

How Do I Prepare for a JP Morgan Internship?

You can kickstart your internship preparation by contacting the onboarding team regarding training and pre-employment procedures.

Brushing up on software technicalities, financial concepts, or current market trends might help you excel and make a good impression on your internship.

You can also start making arrangements for any travel and relocation needed for the internship.

Is JP Morgan a Good Internship?

Yes, a JP Morgan internship provides unparalleled opportunities for career growth, mentorship, and technical training.

It’s one of the best ways to jumpstart your career in the financial services industry.

Is an Internship at JP Morgan Worth It?

For individuals who are passionate about business, banking, and finance, a JP Morgan internship is definitely worth considering.

Interns who thrive in the company’s fast-paced and challenging environment enjoy great compensation, benefits, career growth, and hands-on experience.

Similar Internships to Check Out

Aside from JP Morgan, there are plenty of prominent financial institutions that offer highly-rated and competitive programs as well.

While searching for an internship, you may want to consider the following similar programs:

Northwestern Mutual Internship

Northwestern Mutual is a top-ranking firm in the insurance and investments sector.

For 24 years straight, the company’s programs have been on the list of top 100 internship programs in the U.S.

A Northwestern Mutual internship will help you build an excellent foundation in finance while earning performance-based compensation.

Deloitte Internship

Deloitte is a professional services organization that provides finance, consulting, and accounting services to over 20 industries.

A Deloitte internship is a unique opportunity to gain exposure to various business lines while doing high-impact and meaningful work.

Goldman Sachs Internship

Goldman Sachs is an investment banking and securities company with clients and offices all over the world.

A Goldman Sachs internship is a great way to jumpstart your career and expand your network of finance professionals.

Frequently Asked Questions

Here are the answers to some common queries about JP Morgan internships:

Does JP Morgan hire international students?

International students are eligible to apply as long as they meet the requirements for the specific internship position.

For most programs, students must be authorized to work in the United States on a permanent basis.

The company also mentions that they don’t offer employment-based immigration sponsorship for some of its listed programs.

Does JP Morgan require a cover letter?

JP Morgan doesn’t require a cover letter for internship applications, so submitting one is optional.

Most of the company’s internship listings only require applicants to submit a resume and location preference.

Applicants will also be asked to answer several relevant application questions

Wrapping Up

A JP Morgan internship is an excellent first step toward establishing a career in the financial services industry.

With so many candidates applying each year, it’s essential to have the right qualifications, suitable skills, and a resume that stands out.

Make sure to follow the preparation tips and suggestions in this guide to ensure a successful internship!

Kickstart your JP Morgan experience by viewing the available programs here.

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