A JPMorgan Chase banker, who earns around $400,000 annually in total compensation after working for 15 years, expressed frustration over the bank’s policy requiring six months’ notice from employees who are leaving for another job. The worker fears that a lengthy notice period may result in a rescinded job offer from another company.
The banker took to the anonymous career professional social media platform, Blind, to express his concern, saying he was considering giving a shorter notice period of one to two months and saying goodbye. However, the employee was worried about possible legal repercussions.
JPMorgan Chase has a reputation for requiring lengthy notice periods from employees who are leaving the company. In India, for instance, the bank increased the notice period from 30 days to 60 days for vice presidents and below and to 90 days for bankers at the executive director level.
Some posts on financial sector bulletin boards and websites suggest that it is common for banks and hedge funds to include non-compete clauses in employees’ contracts that prohibit them from being employed by a competitor for up to six months. The Post has sought comment from JPMorgan Chase on its notice policy.