JPMorgan Ranks Number 1 As Best Firm To Work For: SurveyVW Staff
JPMorgan Chase & Co. (NYSE:JPM) may have made a staggering $2 billion trading loss in the money markets, but Jamie Dimon and the rest of the company’s staff can brace themselves now, and through 2013, as JPMorgan is set to maintain its current position as the best place to work.
In a survey that involved about 3500 Wall Street professionals, JPMorgan Chase & Co. (NYSE:JPM)’s Investment bank emerged top of the pack as the preferred choice for many as a place of work. The parameters evaluated included the quality of life and the overall prestige experienced by workers within the North American territory.
This report is in reference to a survey conducted by the Career research Firm, Voult, which ranked the company in the first positions in 2012 and 2013, that’s two different rankings, after scoring 8.585 out of 10, overall. According to Voult, its top 50 ranking combines different factors that bankers value most, which include, culture, satisfaction, work/life balance, and compensation.
The Blackstone Group LP (NYSE:BX), a private equity firm based in New York, was ranked second, after averaging 8.408 points for the year 2013, as it rose 22 places up from its 2012 ranking of 24th position.On the third position, was yet another investment banker, this time around, Goldman Sachs & Co. (NYSE:GS), after racking 8.067 points, and consequently sealing the top three spots, that also represented companies that collected at least eight points out of ten.
Morgan Stanley (NYSE:MS), the Facebook Inc (NADAQ:FB) IPO underwriter, was ranked a distance fifth, with 7.684 points, which also brought the number of companies, either directly or indirectly, involved in the process of Facebook Inc (NASDAQ:FB)’s IPO , to three, among the best five places to work. They must have enjoyed preparing the botched IPO, judging by the level of their company’s ratings.
Switzerland-based investment bank Credit Suisse Group (NYSE:CS) sealed the top ten best places to work, with a couple hedge funds and investment advisors coming in between six and nine. The Swiss banker, which recently faced allegations from the German Media claiming that it helped German tycoons dodge taxes, collected 7.306 points, wrapping the list of companies that attracted at least seven points. However, this survey only involved its New York location.
Citigroup Inc. (NYSE:C)’s Citi Institutional Clients Group, based in New York, collected 6.647 points, to earn it the 14th spot in the rankings, while The Royal Bank of Scotland Group Plc (NYSE:RBS) (LON:RBS), located in Edinburgh in the United Kingdom, was ranked 20th down from 14th after collecting 5.981 points, the highest of the companies that scored less than six points. Piper Jaffray Companies came right after it with 5.677, at position twenty one.
Germany’s Deutsche Bank AG (NYSE:DB), and Barclays Plc (NYSE:BCS) (LON:BARC), Investment banking wing in New York were ranked 24th and 25th respectively, with 2.734 and 2.628 points accordingly, to wrap the top best places to work in 2013.