JPMorgan Chase (JPMC) is a leading global financial services firm whose success depends on recruiting top talent across a wide range of roles and locations. Knowing that the business thrives when its customers thrive, JPMC also understands the importance of investing in the communities it serves. JPMC’s deep and multi-dimensional partnership with Year Up has allowed JPMC to advance both of these efforts, gaining access to a new and dynamic pipeline of talent while simultaneously investing in the economic prosperity of its communities. JPMC has gone on to deepen its commitment to communities through new initiatives like New Skills at Work and the Opportunity Forum, becoming a leader in advancing opportunity for young adults while closing the skills gap plaguing the business community.
“Year Up enhances our diverse talent pipeline, while internships provide candidates with hands on training that better prepare them for candidacy.”
– John Galante, CIO, Consumer & Business Banking
Partner Profile Overview
- Partner since 2007
- $6 million philanthropic commitment
- Co-founded Opportunity Forum, brining industry leaders together to advance investment
- Develop a strong pipeline of entry-level for a variety of departments
- Establish a trusted, market-responsive resource for training
- Increase workforce diversity
- Boost morale and motivation among current employees
- Rally employers across the financial services industry to participate in creating pathways to employment for young people
- Empower young adults to be successful in professional careers
- Create training and career opportunities for young adults in new fields
- Foster economic growth and prosperity in local communities served
A new pipeline of high-quality talent
At the core of JPMC’s partnership with Year Up is access to a new pipeline of high-quality talent that the company otherwise would not have.
How it works
Year Up students acquire fundamental professional and technical skills through six months of intensive training in the classroom. JPMC then hosts these students for six-month internships in IT, Financial Operations, Customer Service, and Quality Assurance. These corporate internships provide an opportunity for the young adults to take their skills to the next level and gain the experience they need for entry-level positions in the professional world. For JPMC, the internships provide an opportunity to gain access to and assess potential new employees with no obligation to hire.
Helping motivated young adults enter the workforce
Managers at JPMC observe that above all, Year Up interns are “hungry.” They are highly motivated to contribute to the company, are eager to learn, and have already developed professionalism and reliability through their Year Up training. These qualities make the young adults highly valuable in roles that are often challenging to fill across a wide variety of disciplines, from customer service-centered teller roles to more technology-and critical thinking-centered roles in global technology infrastructure. Additionally, these young adults increase the diversity of JPMC’s workforce, introducing new and valuable perspectives to the business.
As a result, since JPMC’s partnership with Year Up began in 2007, it has grown to include over fifteen departments in eight cities, and continues to expand to new areas.
Meet Year Up Alumni Building their Careers at JPMorgan Chase
My manager and mentor was a Year Up alum. She never cut me any slack and held me to high standards, and that was exactly what I needed.
A strong and mutually beneficial partnership
In addition to gaining access to a new pipeline of talent, partnering with Year Up has created new, innovative ways for JPMC to develop its workforce, and to invest in new employment opportunities for young adults.
A responsive partner in training
When faced with a large-scale recruitment challenge, leaders at JPMC know they can work with Year Up to develop custom business solutions. Sometimes this means opening up a new field to Year Up interns or even partnering in the development of an entirely new curriculum to prepare Year Up’s young adults for careers in a particular field, as JPMC did to fill its Teller and Quality Assurance positions. Understanding the value Year Up’s graduates offer the workforce, JPMC has also sponsored the expansion of Year Up to new cities where there is a need for qualified talent. These efforts have helped JPMC connect with the talent the company needs while also helping young adults gain access to new training and career opportunities.
“Year Up is a strong partner in part because they listen to companies and work to understand what the needs are, what they can do better. And they take action. It’s a highly relevant partnership and we have systematic success.”
– Patricia David, Global Head of Diversity
PIONEERING TRAINING FOR QUALITY ASSURANCE
In 2010, JPMC faced a challenge recruiting Quality Assurance (QA) professionals. The company needed to build a team quickly and had little luck with traditional hiring methods. Facing a limited number of hiring services, a limited number of qualified applicants, and no QA training programs that would build a reliable source of talent in the near future, JPMC had to find a better solution.
Leaders at JPMC discussed this challenge with Year Up, and the two companies worked together to establish a new QA track within the Year Up program. Low-income young adults, most of whom had never heard of QA previously, could now learn the basic skills and tools needed for testing software, thanks to guidance and training from JPMC’s staff. In less than a year, more than a dozen Year Up participants were ready to start internships in QA – and not just at JPMC, but at other companies facing similar QA hiring challenges as well.
The QA training pioneered by JPMC and Year Up continued and grew, ensuring a long-term and cost-effective pipeline of talent for JPMC and other companies in the field. This helped the businesses fulfill business objectives such as smoother operations and more on-time software releases. At the same time, it opened up a new career pathway to hundreds of young adults who would otherwise lacked the access, despite their now-proven ability to succeed and add value to the field.
Boost Employee Motivation
JPMC’s partnership with Year Up boosts employee morale within the company. The opportunity to act as mentors for young adults provides a meaningful way for employees to give back to the community, a value that is strongly connected with the company’s core commitments. JPMC sees teams rally around the opportunity to support Year Up participants who are launching their careers and realizing their potential. Whether managing an intern or volunteering at Year Up during spare time, JPMC staff are energized by the chance to be part of the company-wide commitment to service in a deeper and more personal way.
A leader in the employer community
JPMC is deeply committed to supporting communities, and in Year Up, the firm has found a strong partner in advancing this commitment. Alongside Year Up graduates and staff, JPMC executives have advocated for stronger pathways to employment on Capitol Hill. JPMC also made a landmark $250 million investment in efforts to close the global skills gap, including additional support for the Year Up program. And finally, JPMC professionals have rallied other members of the financial services industry to learn more about employment initiatives like Year Up, and to work together to open more doors for young adults in their communities.
“The most important thing we can do as a company is invest in the economic prosperity of our communities. If we can help close the skills gap, we can reduce unemployment and be a force for broadly shared economic opportunity.”
– Jamie Dimon, Chairman and CEO
JPMC’s partnership with Year Up has yielded strong results – including access to a new, high-quality pipeline of talent, unique training and talent development opportunities, and leadership in investing in communities’ growth and prosperity. These strong results continue to show the power of investing in young adults and new pathways to employment.