An American multinational investment bank and financial services company, JPMorgan Chase & Co plans to hire about 2,000 engineers worldwide.
The hiring will be across various roles in the bank including in general software engineering, data science, cybersecurity, and cloud computing, among other areas.
Global Chief Information Officer, Lori Beer has said that the hiring will be done by the end of the year despite a worsening economy.
Beer said in an interview at the bank’s office in Plano, Texas, at DevUp, an internal JPMorgan conference said, “We’re definitely still hiring, gathering 500 of the company’s top engineers.”
“The investment signals JPMorgan is a safe place through the uncertain economic times. When you’re going into a tough economic time and things are very volatile, it does play into our favor,” Beer said.
The competition in technology job markets such as Silicon Valley, Seattle, Texas, and India has abated slightly.
Global Chief Information Officer, Lori Beer said, “There have been candidates weighing multiple job offers at the same time. JPMorgan aims to debunk that perception.”
By contrast, banks were sometimes seen as stuffy businesses running on older technology where innovation was stifled by strict regulations.
In recent years, banks have faced fierce competition for workers from tech companies that paid large chunks of compensation in company stock. The engineer generally has competent and multiple offers at the same time. They also get attracted by tech companies’ casual cultures and abundant perks.
“How do we bust the myth and help people understand the innovation that’s happening here, the complex problems?” Beer said, highlighting opportunities to work on projects that affect millions of customers or move trillions of dollars.
JPMorgan Chase & Co had a net of 5,000 software developers and data scientists last year. The company aims to attract a couple of thousand.
The company has workforce strength comprises of nearly 20% of Tech workers in its 278,000-strong global workforce.
JPMorgan Chase & Co is hiring employees at a time when major companies across the globe have stopped hiring or are cutting jobs.
