For Recruiters
Competition for staff is particularly intense here.

JPMorgan increases the notice period for its most valuable staff

JPMorgan is making it more difficult for some of its hardest to replace staff to leave. They're not traders in New York or investment bankers in London. They're technologists in India.

Insiders at JPMorgan Services India say the U.S. bank is increasing its notice period from April 1st 2022.

"It was 30 days for VPs and below and 60/90 days for EDs," says one Indian employee. "Now, it's 60 days for VP and below and 90 days for EDs."

JPMorgan declined to comment on the changes. They're understood to bring the bank in line with rivals in the Indian market. Morgan Stanley and Goldman Sachs are thought to have 60 day notice periods in India, while banks like Nomura and BNP Paribas have 90 day notice periods. 

JPMorgan's move to extend its Indian notice periods comes as competition for talent heats up in the subcontinent. Credit Suisse and Deutsche Bank are both hiring around 1,000 people there. Goldman Sachs has over 6,000 people at its Bengaluru office. JPMorgan has 7,000 employees in Hyderabad and space for 1,000 more. 

Last year, banks were already struggling to retain staff in India as start-ups and corporates increased their own recruitment in the country, particularly of technologists.  Tata Consultancy Services alone onboarded 43,000 "fresh engineers" in the first half of the year.

The war in Ukraine stands to increase banks' reliance on Indian technologists still further. Deutsche Bank, for example, has a large team of technologists in Russia working on its key Autobahn trading system. 

JPMorgan currently has nearly 2,500 jobs open in India. They include roles in its Mumbai-based Global Quants Group, which works on systematic trading quantitative research.

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance. 

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by rehan shaik on Unsplash

author-card-avatar
AUTHORSarah Butcher Global Editor
Cancel
  • Ho
    Hoboken Skier
    18 March 2022

    Like their European and Canadian peers.

  • Sh
    Shishir Malviya
    18 March 2022

    Very good move. It is should be further increased to 180 days

Apply for jobs

Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs
Selby Jennings
Securities Finance Sales
Selby Jennings
London, United Kingdom
Qatar National Bank (QNB)
Senior System Analyst
Qatar National Bank (QNB)
Doha, Qatar
Axa Investment Managers
Commercial Reporting Officer
Axa Investment Managers
Puteaux, France
eFinancialCareers Global
Demand Generation Manager
eFinancialCareers Global
London, United Kingdom