JP Morgan to fire newcomers if they quit 'within 18 months' after Jamie Dimon's warning

America's largest bank has a problem if you decide to quit working with it within a few months of your joining.

As per a report by Fortune, JP Morgan has informed incoming graduate employees that they will be fired if they accept future-dated roles at other companies. This comes a few months after the bank's CEO said it was ‘unethical’ to accept a job at JP Morgan but wanting to quit for private equity within a few years.

In an email sent welcoming newcomers fresh out of grad school, co-heads of global banking at JP Morgan added a stern warning.

“If you accept a position with another company before joining us or within your first 18 months, you will be provided notice and your employment with the firm will end,” the email read, as per the report by Fotune.

To work at the financial giant with around $750 billion market cap, “your full attention and participation are essential”, the email stated.

A junior employee will also be fired if they fail to show up at mandatory training sessions and meetings, and fulfill their obligations again and again.

The email, as per Fortune, was only sent to new graduating employees in the US as the problem is more relevant in the country than other places.

JP Morgan CEO Jamie Dimon's clear message

While the memo did not specify the states where these new rules will be implemented, JP Morgan CEO Jamie Dimon had made his thoughts clear on quitting early.

“I know a lot of you work at JPMorgan, you take a job at a private equity shop before you even start with us,” he said in September 2024 to a group of undergraduate business school students.

“I’m going to say something a little different, okay, because I didn’t talk about character. The most important thing about people’s character, I think that’s unethical. I don’t like it,” he said.

“It puts us in a bad position, and it puts us in a conflicted position,” Dimon added.

The bank's CEO said he “just” did not like it.

“You are already working for somewhere else, and you’re dealing with highly confidential information from JPMorgan, and I just don’t like it.” he said, making his position clear.