Post From An Anonymous Chase Manhattan Bank Employee

I am employed by JPMorgan Chase, and work at one of the biggest branches they have in NYC. It’s considered a “MEGA-BRANCH”. The reason I am typing this post is because I KNOW EXACTLY HOW YOU ALL FEEL!! Imagine working for them! IT SUCKS! Everything that has been posted on this site, is something that I deal with every single day.

The worst part… Chase knows about it, but refuses to do anything about it. The reason the bankers at Chase are so pushy, and recommend specific things are because we make what are called “Personal Value Credits” or PVC’s. That is our commission. We open a checking account: 5 PVCs, we sell a Debit Rewards card: 7 PVCs. Credit cards: 17.5 PVCs. Loans and investments pay the most. Loans are 0.7 PVCs for every $1000 , so a $100,000 loan = 70PVCs.

This is why customer service is horrible… there is a tremendous amount of pressure for each banker to make at least 1150 PVCs. That is 100% payout. Over 1500 PVCs = 125% payout, and over 2,000 PVCs = 150% payout. If we don’t reach our goal of 1150, we get less than 100% of our PVCs. In addition, the managers will push us to stay late and call people at 5:30-8:30 PM to try and get someone to open a checking account, and do direct deposit.

Every quarter, we have “Campaigns” in which we are given a target number of new checking accounts that we have to open. My branch’s target for 3 months was over 1,000 new checking accounts. BUT the account did not count unless we sold another product such as Direct Deposit, a Debit Rewards Card, or a credit card that they generated a statement for that month.

Chase Bank will do anything, at any cost to acquire their business… Ethical or unethical. It isn’t the banker’s fault. We have our jobs threatened unless we push the products they say, when they say. If we don’t food is taken off of our tables, and we can’t earn commission.

I work with Chase Bank, and have still been charged over $1,200 in Overdraft fees which weren’t my fault. I’ve been told “you work at a bank… you should know better”.

With that said, I hope you all know how horrible of a company Chase Bank has become since merging with BankOne. It’s just as bad to work for as it is to bank with.


  • And this is this largest problem that Chase has. They do not hire bankers, they hire salespeople. I work in a business where I need to speak to chase reps a lot. I am consistently shocked by the number of Chase representatives that I talk to that don’t seem to know much about banking. I am not talking about floating variable rates on LOCs, I am talking about basic stuff that many of us know just from using checking accounts and watching movies. Chase does not give people proper training they just say “go sell”. I am not saying that Chase employees are dumb, simply that they do not have the training or the skill set that most of their customers think they should have.

  • Everything this person has said has been true. I recently quit my job at Chase for one at a Verizon store just so I wouldn’t have to deal with it anymore. I was a teller but we had a much smaller branch so we all worked closely with each other ( tellers and pbs [pb = personal banker]). I had started with Washington Mutual over two years ago. Amazing company to work for( Though admittedly, that may have been part of their demise) and was sad to see us bought by Chase but I figured “Well, they’re huge, wont have to worry about going under again and they must know what they’re doing”. WRONG. They completely mishandled the transition from WaMu to Chase and didn’t do much to help employees help disgruntled (rightfully so) customers. It just made people close accounts and not want new ones which in turn hurt our goals which makes Chase angry, which makes your branch manager angry because she’s not getting her fat bonus. There is just too much wrong with Chase. If you have the opportunity, bank at a credit union. Most of the big banks all suck the same.

    In closing, as much as you may want to hate Chase employees, please don’t. Except the managers because quite frankly they make enough to deal with it. Tellers and pb’s don’t. Or go ahead and hate them. I don’t care anymore…I’m out of that hellhole…

  • Chase is not that bad of a bank to work for. I feel that your struggles to make full payout are due to the fact that you’re not a good banker. How could you possibly be a banker and still run up over $1,200 in overdraft fees. Whoever told you that you should know better because you work in a bank is 100% correct. How can you be someones “personal banker” when you can’t even manage your own account?

  • I work for Chase as a SBS or Small Business Specialist, first let me say that I work at one of the worst managed branches in the entire company! My boss is 25, has no people skills and only cares about one thing MONEY and his bonus! He was never a banker! The funny thing is when I first started I was just a regular banker, and then I got promoted or at least they called it a promotion but my salary didn’t change in fact my commissions got worse, now I only make 85% consumer while I make 120% of my business accounts. Oh, and business accounts are actually very hard to get! Most of my accounts are still consumer so that means that I actually got a pay-cut while management told me oh no you are getting a raise BS!!! I have a lot of experience in banking as I have been a banker for ten years and worked for three different banks! Chase is the worst when it comes to sales, and it is very true that they encourage unethical behavior like lying to customers to get accounts. It is the car sales of banks! I once told my manager that I did not agree with the sales tactics and he now does everything he can to cut me off from all sales and also one of my fellow bankers has lied to customers even had a a customer complain because he told them they would get 100.00 bonus when they won’t and he knew it. They even called all the way up to Corporate, in the office of Executive Relations and he was investigated by HR but they did nothing because he got so many sales in fact he even got promoted! WTF! Its ridiculous and these sort of actions are exactly why and how we got into the financial mess we are in! Chase does not pay us enough to live off, we have to sell to survive this is the first time I have ever worked for a bank that does not pay bankers enough to live off. This tactic is so that we are made to sell harder and more! Something has to be done!! But I to don’t understand how a banker can get 1,200 in od fees. I mean I have had an occasional bank error which is something being processed in error and they told me since I was a Chase employee I could not have my fee waived AND IT WAS A BANK ERROR!! But all the things that this employee from NYC said about Chase’s sales practices are true and in fact worse at my branch! Personally I am looking for other opportunities and I am done with banking which is sad cause I used to love it and wanted to be a manager! BTW I could get fired for posting this!

  • All these post are corrct chase is horrible. The have what is called the 1-2-3 drill this is where bankers work the lobby and make customer sit with them to try to get them to open creidt cards, sign up for debit rewards, and open new accounts. One thing a lot of bankers push is out of towm people opening up new accounts because they can’t fully fuction if they have a out of state account. there are a list of unethical things chase does I can go on for days!!!

  • Nothing new. That’s all chicken feed. How about when Chase moved all the suckers, oops, I mean employees to Brooklyn because NY State and City paid the bank bonuses as a corporation to “save jobs” in New York. They took the money and subcontracted out many of the jobs.

    They can get away with anything because they have a variety of “ins” with this crooked government.

  • Everything said on this post is correct. Chase uses a whip and a Chair on their employees constantly. Would’nt be so bad but they are so unethical top to bottom, from manipulating silver, to foreclosures on military people, to cheating people on their credit cards its all part of the Chase plan lie, cheat , steal. Break the law systematically, when caught apologize. And then go on to another scam. Chase epitomizes what is wrong with corporate banks in America. If you think they care about you as a customer think again.

  • These employees sound like a bunch of losers that couldn’t make a living out of it. It’s not the fact that they can’t sell that makes them such losers, it’s the fact that they whine about people who are making money within the system, and working hard for it. If you don’t like it, MOVE ON to something else that will perpetuate your underclass and pissed off existence. Nobody put a gun to an applicant’s head and forced them to accept the job.

  • Well said B. Go find another job if you think yours is so bad. Be happy that you have a job or go milk unemployment.

  • Steve-O, current employee of Chase Bank according to your IP address. What is your current position at the bank? Here, have a look at what your IP address returns: Busted! hahaha

  • Steve-O you dim witted f#@%, can you honestly tell us that it is okay for a company to force people into doing unethical things just to earn a living? And, if that person sees a problem with the way things are run or if they are conscientiously objecting the perfidious tactics of the said company, they should simply quit? Huh???

    I want to shed light on it because I am smart enough to know that the very products/excrements that Chase is forcing me to stuff down people’s throat, while it may not directly affect me today, it affects my family and my community and can potentially affect me later as one never know how things may turn out in the future. And, even though I get paid to do it that does not make it right. I don’t get paid a lot because I refuse to do the shenanigans that a lot of bankers, under the directives of their branch managers, are doing to get a buck or two because that pvc money gets taxed at a whopping 44% and unless the client keeps that convenience product or investment for 7 months Chase will deduct the credit from your next month pvc pay. So to stay ahead of the deductions bankers just simply do more, screw over more and more people and after a while it becomes a steamroller set on autopilot. Chase retail also reward thugs and bullies by sending them to annual bankers and managers all expense paid sales trips (by the way, you Mr. Customer is paying for all of it).

    Managers often use schoolyard techniques to get noncompliant bankers like myself (chuckle) into mimicking the unethical behaviors of unscrupulous bankers. [Note: not all bankers who make good pvc’s do shady things. Some just know how to exploit this god awful broken system but most have a little bit of dirt on their hands.] Example, a manager would often highlight one banker’s production at a daily staff meeting “Dick has 1500 pvc’s – 7 credit cards, 12 checking accounts, 5 savings, $200,000 in investments, good job Dick- what do you have Jane?” – Pvc production: Dick 1500, Jill 437, Jack 250, Jane 96 in trying to humiliate the person on the lower end on the pvc spectrum – and they think this infantile tactic works when it only makes Jane hate her job even more. Chase managers are not good coaches, they’re thugs and bullies. Teamwork in most branches is non-existent and business is run on a vicious cycle. One unscrupulous employee screws up a bunch of customers and the miserable employees end up servicing those customers so he or she delivers horrible customer service and the cycle goes on from one stupid campaign to the next. In the midst of it all customers are getting the shaft on both ends.

    Judging by the trends of his comments Steve-O is a branch manager whose head is so far up his district’s manager’s butt that he can neither see the truth nor smell the good sense of objectivity. It’s a tough economy out there so you want people to either choose between earning a living or act as Chase’s goon squads regardless if their consciences object the directives they are given? What would you do, correction, what wouldn’t you do for money Steve-O, seriously? Is there anything you stand for besides being someone’s b!tch for your whole pathetic existence? I’m going on a limb and say that most Chase bankers would quit if they could find another job paying them just 5k over their base salaries if such job did not involve shenanigans like Chase.

    Chase base salary in NY ranges from 32k to the max 42k (people hired before 2006 aren’t subject to the 42k cap). Non-licensed bankers (PB II) probably range from 26 to 32k. Younger people from out of state are probably on the lower end of that pay scale. They promise you that the earning potential is unlimited, especially if you are new to New York, with the Products Sales Credit crap yet they impose caps upon caps that limit your earning potential, even for those who put PVC-greed before any decency.

    Investments payout is the highest but you’re not only capped at 1000 pvc’s per ticket per customer but you’re also capped on the household, meaning you cannot get paid more than a 1000 pvc on the entire household (on paper – some bankers find ways around it. That is why crooked bankers and managers do well at Chase because they know how to exploit those technicalities) and if you’re nifty and shifty enough to bend things here and there, coerce the client into allowing you to do certain things, you can get up to 2500 on that household. Once you can no longer get paid on a client, naturally he/she/they become less valuable to you, see how bad customer service and financial abuse of clients is intrinsic to the way the company is run? I thought you would, lol.

    Quick Chase math to help you guys understand better. 1 pvc = $1 (only if you have accumulated 1,000 pvc for that month [formerly 1150] because it is set on a recently revised range. If not your value credit is less.) PB II get whatever pvc they make up to 1500 for their first 7 months, i.e. 179 pvc = $179, 399 pvc = $399, 1499 pvc = $1499 and so forth. After 1500 they get on the same pay scale as regular bankers.

    Licensed Bankers Incentive Pay Scale:
    At 400 pvc, 1 pvc = $0.80, so 400 pvc is $320 that’s before the 44% incentive tax people.
    At 1000 pvc, 1 pvc = $1, so 1000 pvc is $1000
    At 1500, 1 pvc = $1.25 which is $1875
    and at 2000, 1 pvc = $1.50 which is $3000

    The range is 0 to 399 pvc you don’t get squat.
    400 to 999 you get $0.80 per pvc
    1000 to 1499 you get $1 per
    1500 to 1999 you get $1.25 per
    2000 to 9,999,999 you get $150 per.

    Only a few bankers ever top 10,000+ pvcs in one month and if you consistently do that month after month, they will get rid of you because the goal is never for you to make any money on that scale. It is there solely for managers to allude to the fact that you potentially could earn unlimited production pay but if you actually manage to do 10,000+ they know you have to be cheating. They don’t mind the cheating if you nickel and dime customers because they pay you $10 on a checking account that the customer has to keep for at least 7 months with all types of confusing conditions imposed on that customer or the customer has to pay $12/month in maintenance fees and just one overdraft fee at $34 per transaction allows them to recuperate the $10 they paid you and then some. Plus if the account closes the account before the 7th month you’re decked that pay regardless why the account closed.

    So at Chase bankers can’t afford the luxury of letting things organically fall into place. A few months of less than 1000 pvc, you may be calling the state’s unemployment insurance line every Sunday for a Tuesday paycheck. Banker’s are overstressed; abused emotionally and overworked .Overtime doesn’t exist at Chase retail. If you work because your manager asked you to stay over your standard 8hr day shift, they make you flex at their convenience and time sheets are manipulated to show exactly 40hr/week for each full time employee regardless how many hrs that employee really worked. Imagine if you have a family? You get two weeks vacation that they guilt you into not taking. A manager once told me that he did not take any days off, not even a sick day for 3 years when he was a banker, I played stupid and say wow, Brett Favre and Carl Ripken don’t have sh!t on you knowing the ignoramus would have no idea of what I am talking about, he shook his head yes smiled and walked away. My way of fighting back is to make them feel stupid by using 9th grade english (yep that is all it takes. Anything above that would confuse those dimwitted greedy souls) and satirical puns all while pretending to be interested in the shenanigans they’re preaching. Some avoid talking to me altogether because they lack the ability to communicate effectively.

    Another way they try to get free labor is the practice of managers asking other employees to bring two or three checking accounts from home. Now this is a company that doesn’t pay over time (officially they do, but they really don’t. Its just for formalities, just in case they are investigated so they can say, well our policy says blah blah blah – god I hate Chase!!!!) You have to chase customers around and harass them all day long whether it’s at the ATM lobby, the check writing desk or even in the streets, your one hour lunch is unpaid, your base pay is marginal and you have to pull magic tricks over customers to make pvc’s (sorry Florida and Michigan but 42k/yr + a few hundred pvc bucks minus taxes and insurance will not cut it in NYC). The work hours don’t allow much time for anything else during the day yet you are at times ordered to bring checking accounts from home with you the next day. How the f#$% are you supposed to get them? The sad thing is some idiot bankers actually do bring accounts with them. That, to me is hilarious! Of course I don’t tell them how stupid it is/they are to their faces because until I find a better job this shithole is what helps me pay the bills, but why would anyone actually do it, that baffles me till this very day. I always exhale a feverish yeah when they propose it but I’d rather talk people out of opening account at Chase at this point because I fucking hate this god-awful bank. When they ask me the next day I say “I didn’t get a chance to because my baby wasn’t feeling well – my wife was sick – my dog pooped on the carpet – I even went as far as saying I was trying to have sex with my wife for a change” and amazingly they stopped asking after that. Bah-zing!!!!! Mel 1 – Chase 0, winning like Charlie Sheen baby! Lol

    So to sum it all up, Chase retail sucks! Unless you’re a complete moron as an employee you hate your job. You hate your manager, you hate Jennifer Hudson’s knotted knees (oops, she’s not down with Chase. Sorry Jen, I was on a roll lol) you hate everything this company stands for. If you’re like me, you do what you can to survive, you ridicule your BM and DM, you pretend to care, you tell most customers about Chase devious ways (beware disgruntled bankers some customers love the abuse, they will tell on you in a heart beat). You make sure you educate as many as you can about the company’s ploys even though it may not change anything, you look for another job and you thank god for this forum that allows you this therapeutic way of exposing the truth about the Gestapo, I mean Chase Retail Financial Services. Encourage more people to post and always remember: the truth shall set you free! To hell with Chase!!!

  • @B– “Within the system”? Are you suffering from a drug related brain injury?

    You really think Chase is working within the system? There is certainly more than enough evidence to prove that they MANIPULATE the system to their own advantage.

    I don’t think all Chase Managers are evil or stupid. But I think the evil increases exponentially as you go up the corporate ladder.

    Currently I’m sitting here at my desk with a stack of papers over two inches high that documents illegal foreclosure practices by Chase. I have promises in writing that were broken, letters that were robo-signed and an entire log I kept while they continued to attempt to take my house.

    It is an undisputed fact JPMorgan Chase has put families out on the street through illegal practices.

    If you don’t find that evil, then you are a true sociopath with no moral compass whatsoever.

  • A little food for thought… I found out that all of the major banks are using some dirty tactics to fill the pockets of their senior executives, and doing so is beneficial from all angles. A tax escape route, in which life insurance policies are taken on the lives of their employees and are often used to pay huge profits to senior execs escaping all taxes. A disregard for the employees health and well being because dead or alive, that employee is a cash cow for them. Alive employees are exploited to the max, overworked and underpaid and if they so happen to drop dead well, a tax free check to be shared by senior execs will soon follow. No wonder Chase screws their employees as much as they do.

  • here is the link for the article.

  • I worked for Chase for 15 years and before Chase took over I was a top performer…I made about $40k a year (which isnt great)….but Chase took over and my salary went down to $35k, $34k, $33k, $32k, $31k, $30k <—each year…I finally got fired this month…I always stayed postive and worked very hard….I guess there is a reason why Chase stayed above the competition….but I do remember speaking to a ex Wamu banker who told me that Chase bought out Wamu and she started crying on the phone….I will never forget that…I can say…Chase does not care about the customers…they make the employees into slaves…something they believed in a very long time ago…as well as helping Hitler.

  • Chase is nothing short of the Anti-Christ

  • I used to work for that pathetic company years back and I felt like I got a taste of heaven after leaving that terrorist-funding, communistic organization.

  • One more thing , when it comes to overtime , their policies are borderline illegal which is to say they are geniuses when it comes to that fine line between unethical and illegal…..NYS bank auditors, I suggest you audit their time reporting and interview the employees regarding how they were berated everytime they got OT.

  • Hi can someone tell me what would be consequences for this…Hi I been with chase for 2 yrs i saw ur post in indeed and was wondering if u can give me some advice was in training for my series 6 licsence and global security came and took me out and then questioned me reguarding a customer whom I know over a year and helped him out so much be because his account was frozen by court order.

    When I opened the account me and the customer discussed
    That he wanted to specific amount in his account… Last month he opened the account and he deposited around 3k then I noticed towards end of the month he took out around 2500 so I called him but he didn’t answer then I transferred 600 from his checking to his saving.

    They asked me why I did that transfer and that the customer made the complain and also customer didn’t want to get me in trouble wth and they told me it looks like you did that to get credit for the account you opened. And they told me to write that down on the paper, so I did they to me if I did as they say then they ll just move no further investigation or serve consequences, one. I finished they took my work id and told me I m on suspension with pay. And that they re done and will forward or to hr and hr will contact my branch manager and then come to a decision…manager adores me and would back me up!! But what usally happens in this type of situations…. Can someone help!

    Would you happen to know what are my chances???

  • If I had a problem with my employer, I wouldn’t waste my time making a website about it. I would move on and stop looking back. I am shocked that sales people are outraged by being asked to make sales. Sounds like most of you were unsuccessful in your positions and ypu are whining about how it wasn’t your fault. Own it and get over yourselves.

  • I love working for Chase. I have had great success finding ways to help people. Those who complain are bankers that don’t know how to speak to clients. At least I don’t push products to my clients. I make sure that what they are getting is what they need and that it is a product that is going to help them. It is horrible to hear that some bankers can’t appreciate a company that offers so much to its employees. Like I said before, I love working for Chase and I encourage anyone to come work for a company as wonderful as ours.

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