JP Morgan is one of the largest banking organisations in the U.S.A., with services including commercial banking, investment banking and asset management. JP Morgan offer a broad variety of graduate schemes and internships, making them extremely popular to work for. This requires them to implement a stringent selection procedure, which can vary depending the nature of the role. Generally, this will involve undertaking a number of psychometric tests consisting of Aptitude Tests and Situational Judgement Tests. Candidates will be informed in advance as to which assessments they will need to complete.
Due to the competitive nature of gaining a place with JP Morgan, it is advised that all candidates attending interviews should take time to learn about the company, its divisions and history; as this will demonstrate motivation and enthusiasm. JP Morgan tests are provided by (CEB) SHL, so practice tests are recommended.
The JP Morgan Process
The JP Morgan selection process is made up of four stages:
- Application: Applicants will be required to provide their contact details, education and work experience, this is to ensure that they meet the necessary entry criteria. A copy of the candidates CV must be uploaded and submitted with their initial application.
- Testing: Candidates will then be invited to take an online Numerical Reasoning test which will have a completion deadline, this is normally between 3-5 days of receiving the test link. Successful completion of the Numerical Reasoning test may result in undertaking some or all of the following psychometric tests; Verbal Reasoning, Inductive Reasoning and Situational Judgement (SJT) depending on the nature of graduate scheme or internship applied for. The tests used have strict time limits, so practice tests are recommended.
- Interviews: Those who are successful during the testing stage, will progress to a round of interviews. The number of interviews required will differ depending on each graduate scheme, although they tend to be either competency based, technical or motivational interviews and last approximately 30 – 45 minutes.
- Assessment Centre: The final stage is attendance at an assessment centre, in which candidates will complete a combination of the following: a fast-track test, a role play, a case study and presentation, a group exercise and a written exercise to gauge the candidate’s abilities. Successful applications at stage 4 will be given an offer of a place on one of the Graduate Schemes or internships offered by the JP Morgan.
JP Morgan Numerical Test
In these tests, numerical data is provided to a candidate, usually in the form of graphs, tables, statistics and financial data. To answer these questions, candidates must analyse this data and make a logical conclusion from it, allowing them to select the correct answer. Typical numerical skills which are tested include addition/subtraction, multiplication/division, ratios, fractions and percentages.
JP Morgan Verbal Test
In these tests, candidates are provided with a passage of written information and asked to analyse and draw logical inferences from that written information. The questions will be multiple choice with the answer options being: true; false; cannot say. The key here is to answer the questions based on purely the information contained within the passage (ignore any prior knowledge you may have). Think literally and go only on what you have been told in the passage.
JP Morgan Inductive Test
Inductive reasoning tests are one type of psychometric test frequently used in selecting applicants for job roles such as engineering and IT. You have to think logically and methodically against the clock to spot patterns in the sequence of graphics. Usually the best way to approach inductive reasoning tests is to spot a pattern in the first two or three figures and quickly test out your theory by checking if this fits with the next figures.
JP Morgan Situational Judgement Test
Situational judgement tests (SJT) describe fictional scenarios and provide a selection of potential actions. Throughout different sections of the test, candidates are instructed either to select the course of action they are most or least likely to adopt, the most or least effective option, to rank the options in order of effectiveness and to rate responses in terms of effectiveness and counter-productivity.