Horrible place to work - Licensed Relationship Banker Chase Employee Review

Theres a reason chase is always hiring. Recruiters will claim you will make over $75 per year when in fact most licensed bankers average closer to $50k per year. This is in California btw. Chase has been cost cutting at the expense of employees for the last 3 years. No annual raises coupled with the fact the commission /incentive is lower every year. Half of the products you can earn incentive on are arbitrary. A 3rd of your sales should come from lending but it's nearly impossible to get a loan approved through chase. Average 45 days to close a helicopter and 60 days to close a refi. Purchases average 35 days. Basically chase has opted to make lending very difficult as it is not profitable to the bank. Sadly, your pay was contingent upon you closing "x" amount of loans. Get paid on checking or savings accounts, but only if it's the first for the household and they have to fund it with $1k minimum. If you don't earn at least $1k in monthly incentives, they only give you a small portion of what you earned. Assistant managers were laid off last year. Tellers are part time only and have been downsized through attrition. Don't get me started on the fact that Chase doesn't believe in bad PR. Rather than have a round of layoffs, chase's M.O. is to push people to quit on their own accord. Thus avoiding layoffs in the news or having to deal with unemployment benefits. You must refer your loans and investments to your financial advisor or loan officer in hopes they close the deal. Most districts which consist of 10 to 15 branches share 1 or 2 financial advisors (because they keep quitting) and 1 or 2 loan officers (again because the keep quitting). How do you make.money on referrals when there is no one to refer to? Only match 3% of your 401k which takes 5 years to vest. Offers a stock purchase plan with so much red tape, it doesn't make financial sense. Medical insurance has high premiums with a $2500 deductible at the lowest. A tuition reimbursement plan where no one in 7 years of my time at chase has anyone successfully received. One of the lowest base salaries around, roughly $36k annually. Uncapped incentive is an outright lie. For example, by some miracle you bring in $1M of new money you only get paid on $500k of it. It's all lies. Another example, for half your sales, you have to track it, then request to get credit for it, then make sure you actually did get credit for it. On the flip side, if you got paid on something and lets say it closes out or balance drops to a lower threshold, chase's system conveniently knows to deduct this from your pay. Even several months later the system knows to take money from you yet can't credit you automatically for the sales you make. Back office support is horrible. The bulk of it is based overseas. Good luck trying to get technical support from the Phillipines or HR support.from India. Nothing against those countries, but it would be nice to have support from someone with English as a first language. Have I mentioned yet that most the equipment in the branches are over 20 years old. Trying to put Windows 7 on a 20 year old pc may not work out to well. Sending faxes from a 20 year old machine may prove futile. Don't take my word for it. Call a few branches, see how many financial advisors, business bankers, or loan officers are available in the area. These are the partners you must refer to to make money, yet they are few and far between. Go meet your licensed bankers, ask how long they've been there (average is less than 13 months due to high turnover). Ask where they worked prior to chase. Many came from best buy and selling mobile phones, not the finance industry.