Personal Banker at Chase?

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 5 years ago '04        #21
egotistical 1 heat pts
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 LYTE said:
when you say that, do you mean wholesaling medical equipment to medical facilities or general public?
Medical Facilities. You can usually start out as a Durable Marketing Rep (30k + commission (net around 65-80k) selling wheelchairs, oxygen, cpaps, walkers, etc. to hospital, doctors office, rehab places... then move to either a Pharma rep or Medical Equipment usually you need a degree, but if you are really good at sales its looked over... it really is a "perfect" job. Not really much stress, besides when people fu*k up an order on customer service side or delivery. It's basically like an Account Executive for a company most of the times you are just taking people out for lunches and giving gifts.
 11-07-2012, 10:01 PM         #22
siccness 
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Chase is restructuring their personal banker position into two different ones (personal banker and relationship banker) so I would recommend waiting until the end of the year to see which one fits you better.
 5 years ago '06        #23
raw51188 3 heat pts
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what everyone else said. my boy works there and complains all day. and he worked for one of the dopest branches in the country (middle of west hollywood). he made decent money not really having to hustle his a.ss off, but i hear they micro manage like a bi*ch.

he says its terrible and really wants out. btw he makes like 46 after bonuses and before taxes.
 5 years ago '07        #24
Mucz3087 11 heat pts11
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What everyone wrote is right. They micro manage like no where else I've ever seen. I hated the job and never met 1 person while working there for 2 year tht liked it
 5 years ago '04        #25
egotistical 1 heat pts
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 siccness said:
Chase is restructuring their personal banker position into two different ones (personal banker and relationship banker) so I would recommend waiting until the end of the year to see which one fits you better.
my dude on that VP status at Chase. You still rockin nothing but foreign colognes?
 11-08-2012, 03:57 PM         #26
siccness 
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 egotistical said:
my dude on that VP status at Chase. You still rockin nothing but foreign colognes?
Ha, that little fling has passed. Good memory. I'm not with J.P. Morgan any longer but I'm still kept in the loop what happens within the company since I have many friends working at various levels.
 5 years ago '04        #27
egotistical 1 heat pts
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 siccness said:
Ha, that little fling has passed. Good memory. I'm not with J.P. Morgan any longer but I'm still kept in the loop what happens within the company since I have many friends working at various levels.
What you get into now?
 5 years ago '10        #28
GBREEZE 260 heat pts260 OP
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 raw51188 said:
what everyone else said. my boy works there and complains all day. and he worked for one of the dopest branches in the country (middle of west hollywood). he made decent money not really having to hustle his a.ss off, but i hear they micro manage like a bi*ch.

he says its terrible and really wants out. btw he makes like 46 after bonuses and before taxes.
46k? and u get micro managed? F that. I get micro managed now and make 75k. Prolly gonna stay where im at if thats the case lol.
 11-08-2012, 11:58 PM         #29
siccness 
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 egotistical said:
What you get into now?
I am Private Wealth Manager on the analytical research side for a private bank, I mostly deal with large trusts, estates and non-profits.
 11-09-2012, 12:03 AM         #30
siccness 
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 GBREEZE said:
46k? and u get micro managed? F that. I get micro managed now and make 75k. Prolly gonna stay where im at if thats the case lol.
That's not accurate. You only get micromanaged if there is a need for it. A typical manager at Chase will let a good banker do whatever they want. When I was a (licensed) banker at Chase I used to average around $8-9 thousand a month. Most bankers that make less than $60 thousand will leave Chase for other banks that have a higher base but a worse bonus incentive structure. I can safely say that if you're a good banker at Chase you will make more money than any other bank.
 5 years ago '12        #31
BlessInTheSky 6 heat pts
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 siccness said:
That's not accurate. You only get micromanaged if there is a need for it. A typical manager at Chase will let a good banker do whatever they want. When I was a (licensed) banker at Chase I used to average around $8-9 thousand a month. Most bankers that make less than $60 thousand will leave Chase for other banks that have a higher base but a worse bonus incentive structure. I can safely say that if you're a good banker at Chase you will make more money than any other bank.
What does it take to be a good banker? How do the sales usually go?
 5 years ago '04        #32
egotistical 1 heat pts
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 siccness said:
I am Private Wealth Manager on the analytical research side for a private bank, I mostly deal with large trusts, estates and non-profits.
Making those moves... I gotta caught up give me a few years...
 11-09-2012, 02:57 AM         #33
siccness 
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 BlessInTheSky said:
What does it take to be a good banker? How do the sales usually go?
It's hard to say because what worked for me might not necessarily work for others. I'm not a hustler by any means but what I was good at was projecting confidence, trust and putting my best foot forward. I was as comfortable with a client that had their account overdrawn as with a client that had a few million with us.
The key for me was not to be a salesperson because people (especially wealthy ones) will see right through that. I would genuinely recommend a product or service and tell my client why I think it will benefit and be relevant to them. Initially it was slow but after a while my clients were referring (unsolicited) friends and family.
I would also recommend getting your securities licenses. That will allow you to get paid on investments whether you do those yourself or refer to an advisor. I worked with my partners (investments, lending and business) on getting clients in front of them since you get paid on the business they do from your referrals. By creating a pipeline I could go on a two-week vacation and still get a few thousand without being in the branch.
Chase also does a good job of training their bankers and provide the resources to help them succeed. They like promoting internally so there is a lot of opportunity to move within the company.
 5 years ago '12        #34
BlessInTheSky 6 heat pts
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 siccness said:
It's hard to say because what worked for me might not necessarily work for others. I'm not a hustler by any means but what I was good at was projecting confidence, trust and putting my best foot forward. I was as comfortable with a client that had their account overdrawn as with a client that had a few million with us.
The key for me was not to be a salesperson because people (especially wealthy ones) will see right through that. I would genuinely recommend a product or service and tell my client why I think it will benefit and be relevant to them. Initially it was slow but after a while my clients were referring (unsolicited) friends and family.
I would also recommend getting your securities licenses. That will allow you to get paid on investments whether you do those yourself or refer to an advisor. I worked with my partners (investments, lending and business) on getting clients in front of them since you get paid on the business they do from your referrals. By creating a pipeline I could go on a two-week vacation and still get a few thousand without being in the branch.
Chase also does a good job of training their bankers and provide the resources to help them succeed. They like promoting internally so there is a lot of opportunity to move within the company.
What was your background like before you became a PB at Chase?
 5 years ago '10        #35
GBREEZE 260 heat pts260 OP
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great thread good discussion. I'm liking all the feedback from everyone's experiences.
 11-09-2012, 11:32 PM         #36
siccness 
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 BlessInTheSky said:
What was your background like before you became a PB at Chase?
I started with an internship while in high school then dropped out my junior year to take a full time teller position. I was promoted to a banker after a year and a half. After that I took a position with their mid-level private bank and shortly after with the their ultra high net worth private bank. All of that without a high school or college degree. A series of fortunate events really. I was lucky enough to have had good managers and mentors so I will be forever thankful to the company for letting me move within. Now I get recurring serious offers from some of the most prestigious firms on a quarterly basis. Don't get me wrong, I think education is very important and I will eventually get a degree however these days companies really value experience. I can get a job at pretty much any Wall Street firm I desire after they review my resume even without graduating from high school or college.
 5 years ago '12        #37
BlessInTheSky 6 heat pts
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 siccness said:
I started with an internship while in high school then dropped out my junior year to take a full time teller position. I was promoted to a banker after a year and a half. After that I took a position with their mid-level private bank and shortly after with the their ultra high net worth private bank. All of that without a high school or college degree. A series of fortunate events really. I was lucky enough to have had good managers and mentors so I will be forever thankful to the company for letting me move within. Now I get recurring serious offers from some of the most prestigious firms on a quarterly basis. Don't get me wrong, I think education is very important and I will eventually get a degree however these days companies really value experience. I can get a job at pretty much any Wall Street firm I desire after they review my resume even without graduating from high school or college.
Wow, you were very lucky to have good managers and mentors. I've heard alot of horror stories of horrible managers that micromanage. Can you offer some insight as to what the interview process was like for the personal banker position and how did the training go?
 5 years ago '10        #38
GBREEZE 260 heat pts260 OP
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 BlessInTheSky said:
Wow, you were very lucky to have good managers and mentors. I've heard alot of horror stories of horrible managers that micromanage. Can you offer some insight as to what the interview process was like for the personal banker position and how did the training go?
dont know about the interview process but I went and did the online a.ssessment just to see what it was about. of course with fake info, so when i really do apply i know what to expect.



Q #1: Which language would you prefer to take the a.ssessment questions?
A: Submitted and Final
Q #2: 103 is 20% of what number?
A: Submitted and Final
Q #3: The average amount of annual interest earned across three investment accounts was $2,709.00. If one account yielded $1,345.00 in the twelve month period, and the second yielded $568.00, what did the third account yield?
A: Submitted and Final
Q #4: A customer has a debit card that gives monthly cash back bonuses. If the customer spends from $10.00 to $499.99, he earns 1% cash back. If he spends $500.00 to $999.99, he earns 2% cash back. For monthly purchases of $1,000.00 and more, he earns a 3% cash back bonus. His monthly purchases for the past 6 months are as follows: $345.00, $592.00, $609.00, $280.00, $1,020.00, and $452.00. How much did he earn in cash back bonuses over the past six months (rounded to the nearest cent)?
A: Submitted and Final
Q #5: A new branch in its first year opened new accounts at a rate of 40 for every 100 customer calls. The total number of new accounts opened in the year was 10,000. How many customer calls were made?
A: Submitted and Final
Q #6: What is 20% of 40% of 600?
A: Submitted and Final
Q #7: Seventy-six percent of all students who apply for a student loan are approved for the loan. Of the students who are approved, 84% pay the loan back in full. If 5,000 students from State School applied for a student loan 10 years ago, how many of them paid the loan back in full?
A: Submitted and Final
Q #8: Which of the following is an advantage of savings accounts?
A: Submitted and Final
Q #9: For which of the following customers would a savings account be a wise investment?
A: Submitted and Final
Q #10: Budgets are most important to
A: Submitted and Final
Q #11: One of the advantages of having a budget is
A: Submitted and Final
Q #12: Thinking about winning the lottery is one way to make people
A: Submitted and Final
Q #13: Which of the following statements is true, according to the passage?
A: Submitted and Final
Q #14: Which of the following work environments do you most prefer?
A: Team focused and cooperative.
Q #15: Which of the following would your coworkers say is most descriptive of you?
A: You are good at clearly explaining the featur
Q #16: Which of the following is most important to you?
A: Meeting sales goals and targets.
Q #17: Which of the following words is most descriptive of you at work?
A: Diligent
Q #18: Of the following job characteristics, you most prefer
A: learning new job skills and expanding your kn
Q #19: One of the best ways to establish effective long-term relationships with customers is to
A: be polite, on time, and well prepared.
Q #20: You do not hesitate to try new things.
A: Strongly Agree
Q #21: Throughout a typical work day, you often change what you are working on to make better use of your time.
A: Strongly Agree
Q #22: Often the best way to do a job is to use a standard, proven approach.
A: Neither Agree nor Disagree
Q #23: Rules and regulations must be followed even when they "get in the way".
A: Strongly Agree
Q #24: You tend to use lists as a reminder of deadlines and commitments.
A: Agree
Q #25: It is very difficult for you to
A: wait for customers to approach you or to make
Q #26: If you worked very hard to make a sale only to have it fall through, you would be most likely to think that
A: you need to take a different approach the nex
Q #27: When a customer expresses a variety of concerns or doubts in response to your recommendations, it is best to
A: provide the rationale for your recommendation
Q #28: Scott is choosing between two checking account options. At Bank A, Scott will pay a $5 monthly maintenance fee and will earn 0.5% interest on his average monthly balance. At Bank Z, Scott is not charged a monthly fee and earns interest at the rate of 0.25% a month on his average monthly balance. [The amount to be credited or subtracted for the month is determined by first calculating the interest to be paid, then subtracting all bank fees or charges from this amount]. Based on the information provided, which of the following is true?
A: If Scott’s average monthly balance is $2,000,
Q #29: Sonya has $120,000 in her college fund and Marta has $135,000 in hers. If they need more than that to attend college, they will have to pay the additional amount. An in-state college costs $22,000 a year in room and board. A private college costs 50% more than the in-state college, and an out-of-state college costs 70% more than in-state college. They estimate they will need an additional $9,000 a year for miscellaneous expenses no matter which college they choose. Which of the following is true?
A: Marta would have to pay an additional $33,000
Q #30: Joe makes $60,000 a year and wants to begin saving for his retirement in a 401K account. He can contribute a maximum of 15% of his gross salary each year, and, if he contributes 15%, his employer will contribute 5% of his salary to his 401K. Joe’s tax rate is 22% of his income, but any money he contributes to his 401K will not be taxed; only the money remaining after he makes his contribution will be taxed. Based on this information, which of the following statements is true?
A: If Joe contributes the maximum amount he is a
Q #31: Three friends want to buy a house together, and estimate it will cost each of them $3,500 for the down payment. Sue earns $2,500 a month and is saving 7% each month towards the down payment. Alana earns $500 more than Sue each month and is saving 6% a month for the down payment. Eve earns $2,200 a month and is saving 10% of that for the down payment. Which of the following is true?
A: Eve will be the first one to have enough mone
Q #32: Beth has a checking account that comes with a points reward card. She earns one point for each $50 spent on purchases. [She does not have to spend the $50 all at once, her total purchases for the month are tracked and points are then rewarded for the month]. Beth also earns 1 point each time she withdraws or deposits at least $25 into her account using the ATM. Points are accumulated monthly, and no ‘extra’ points can be rolled over into the next month. Each month there is a special feature item that earns extra points. During May she will earn 2 points for each $50 spent at any grocery store, and in June she will earn 2 points for each $50 spent at any gas station. Which of the following is true?
A: If Beth has five checks to deposit, worth $12
Q #33: The best way to build a customer base is to
A: be attentive, helpful, and thorough.
Q #34: Great customer service is
A: easy to do, but not commonly done.
Q #35: According to the passage, which of the following actions would be most likely to impress a customer?
A: Offering help simply because they need it.
Q #36: Which of the following statements about customer service is true?
A: Listening to the customer describe the proble
Q #37: The primary goal of providing great customer service is to
A: encourage customers to come back.
Q #38: One of your established customers has come into a large amount of money that she plans to transfer to an investment account with a different financial institution. She has her checking and savings accounts at your branch. She is only interested in a short term account that will pay some interest while she sets up the long term investment accounts at the other financial institution. You would
A: present the long term investment opportunitie
Q #39: At the team meeting each morning, the branch staff shares goals for the day. Your coworker always states a goal that is easily attainable, and receives recognition for always meeting the goal. You have historically set very aggressive goals, yet do not always meet them. You would
A: challenge your coworker to set more aggressiv
Q #40: You are very busy and realize that you will not be able to do all you have to do by week’s end - meet with the customers you have on your schedule, make initial calls to potential customers, make follow up calls already due, and complete and process all pending applications. What would you do?
A: Give your coworkers the names and contact inf
Q #41: You have just met with a new customer who is interested in opening a standard checking account. She has no idea what her typical balance will be or the services she is most interested in. After reviewing her circumstances and financial goals, you would
A: suggest that you set up the products and serv
Q #42: One of your long-term customers comes into your branch and asks to speak with you. He does not have an appointment, but would like to meet now. He indicates that he is interested in moving his home equity loan to the bank, and wants to discuss terms and options in detail. You already have several customers waiting for you. You would
A: pull together home equity loan brochures for
Q #43: A new product was just introduced and has been heavily promoted in the media. You have been on vacation and have not had a chance to learn much about the product and its features. On your first day back, several new customers have called and come into the branch, all of whom are interested in the new product. You would
A: explain that you have been out of the office,
Q #44: You volunteer for a project that no one else in the branch wanted to take on. Although you get the project done, you did not receive the kind or amount of help you were expecting from your coworkers nor did you reach the goal you had initially set. Your Branch Manager brings up the project during your annual performance review. You would
A: ask for an evaluation of your effectiveness a
Q #45: You are meeting with a new customer who wants to know about options your bank offers for her $5,000 investment. After you have described several products to her, you sense that she is not following the conversation and is in fact confused about the options and alternatives you have presented. You would
A: ask her to tell you her thoughts about the pr
Q #46: There are a variety of recommended steps to be used in handling a new customer inquiry. You are helping a new customer who is clearly in a hurry. The best approach in this situation would be to
A: schedule a follow up call or meeting at the c
 5 years ago '10        #39
GBREEZE 260 heat pts260 OP
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bands a make her dance
 5 years ago '10        #40
Swiph Mix 14 heat pts14
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 siccness said:
I started with an internship while in high school then dropped out my junior year to take a full time teller position. I was promoted to a banker after a year and a half. After that I took a position with their mid-level private bank and shortly after with the their ultra high net worth private bank. All of that without a high school or college degree. A series of fortunate events really. I was lucky enough to have had good managers and mentors so I will be forever thankful to the company for letting me move within. Now I get recurring serious offers from some of the most prestigious firms on a quarterly basis. Don't get me wrong, I think education is very important and I will eventually get a degree however these days companies really value experience. I can get a job at pretty much any Wall Street firm I desire after they review my resume even without graduating from high school or college.
Hell of a story sir. But I have to ask....
Why did you leave? And more importantly....how were you able to forfeit your loyalty to another company after the opportunity have given you?
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