Case study: Why J.P. Morgan believes in investing in early career development for its talent

Brandon Coate, Head of New Joiner Experience Asia, J.P. Morgan on why the firm believes in providing students with realistic career experiences, the challenges he and his team overcome in adapting each programme to evolving needs, the ROI to measure success, and more.

Financial services firm J.P. Morgan Singapore takes pride in its approach to nurturing early career talent through a range of programmes, some that begin even before they formally apply for a programme.

Over the past decade, these initiatives have evolved to meet the dynamic needs of the new-age workforce, now comprising mandatory internships, global exchange programmes, and community service opportunities, aimed at attracting top young talent in a highly competitive landscape.

At the helm of these initiatives today is Brandon Coate, Head of New Joiner Experience Asia, J.P. Morgan (pictured above), who plays a pivotal role in shaping and refining the programmes.

In this interview with Priya Sunil, the leader talks about why the firm believes in providing students with realistic career experiences, the challenges he and his team overcome in adapting each programme to evolving needs, the ROI to measure success, and more.

As you conclude the read, don't miss his take on the three historical figures he would invite to speak to the new joiners at J.P. Morgan!

Q J.P. Morgan has launched quite a few initiatives as part of your early career talent programme — be it the Software Engineer Programme, the Apprenticeship, or more — over the past decade or so. How have these evolved over the years to meet the evolving needs of today's talent?

Over the past decade, universities in Singapore have made great progress in preparing graduates for the workplace, equipping them with mandatory internships, global exchange programmes and opportunities for community service. Graduates now enter the job market with more confidence, eager to understand real-world issues and ready to solve complex problems. This has resulted in an increasingly competitive landscape for young talent, who are often sought after by multiple top employers for summer internships.

To remain competitive, our initiatives have been focused on identifying talent early, to help students learn about opportunities at J.P. Morgan Singapore and allow them to build their network at the firm even before they formally apply to our programmes. We also recognise that there is strong talent that may not have taken the traditional route of going to university.

As such, the firm has invested in apprenticeship and work-study programmes to help create additional pathways to fulfilling careers for young talent in polytechnics and ITEs. We have seen increasing business demand for diverse talent across various lines of business and the Singapore Apprenticeship Programme, in particular, continues to grow — tripling in size since its inception in 2015.

Q With different groups of talent bringing unique expectations and needs, what challenges did the team have to overcome in adapting the programme to their needs?

We are committed to offering students a realistic career experience by involving them in meaningful projects, so that they can gain as many transferable skills from their experience at J.P. Morgan as they can. Our teams partner closely with business managers to design programmes that run from nine weeks to 2.5 years.

Given the highly regulated environment we operate in, we need to ensure that we build a well-structured and informative orientation and training programme, embedding our culture, code of conduct, values and business principles.

Our teams have also been successful in managing generational diversity for young employees. With four generations (Baby boomers, Generation X, Millennials and Generation Z) in the workplace, we welcome different mindsets and points of view that help shape the dynamics and productivity of teams.

We invest in intergenerational diversity and leadership training for our intern managers and we continue to explore how diverse age groups can work together to drive innovation, creativity and success at the firm.

Q Tell us a little more about each programme — what makes them attractive to young talent, and how do they elevate your employer branding?

As a global leader in financial services, we have a rich history and play a critical role in powering economic growth. These programmes reflect how we attract world-class talent and ensure that we create an environment where they can thrive. In the early careers space, we offer three main programmes for young talent:

Summer internship – a nine-week programme open to university students. Interns take part in an induction & development programme where they will learn from their teams and the firm as a whole, engage with their colleagues and senior leaders, and grow their capabilities.

Each of them will also be assigned an experienced colleague as their mentor to provide guidance and support over the summer. This programme is particularly attractive to students as the internship is a pipeline for our full-time analyst programmes. Many summer interns who have performed well are still building their careers with us today after graduation.

Apprenticeship programme – a one-year programme that is open to polytechnic diploma holders and features a competitive selection process. The programme offers apprentices potential entryways to full-time opportunities into various lines of business at the firm.

Through the year-long programme, apprentices will be given opportunities to expand their business knowledge, professional skills, and network for their future careers.

Work Study programme – a 2.5-year programme that provides students with opportunities to develop and apply skills and knowledge that they have acquired in school. Upon completion of the programme, these students gain relevant work experience and skills on the job that helps them build a strong foundation for their future career aspirations.

Q How do you measure ROI on the programmes to determine success, and what tools do you use to do so?

Our brand positioning and success is linked to the strong relationships that we have forged with the universities and polytechnics – with their career services, faculties, student clubs and societies. These partnerships help to ensure that we attract the right talent for our programmes and has helped us achieve strong standing in the region as an employer of choice. This year, we ranked the No. 1 Most Attractive Employer among business students by Universum Survey Ranking in Singapore. This is a great recognition and ROI on our events and initiatives.

We also rely heavily on data – our applicant tracking system and events management systems. There are multiple data points that we proactively monitor to determine year-on-year success of our programmes and efforts – these include student attendance at information sessions and events, applications to our programmes, intern performance and feedback from both interns and managers.

We have also recently enhanced our health benefits coverage, increasing reimbursement limits for major medical benefits, as well as outpatient coverage such as traditional Chinese medicine and chiropractor. These enhancements reflect our firm’s ongoing commitment to supporting our employees and their families, which has contributed to our position as an employer of choice, especially for young talent seeking an environment that prioritises the employees' wellbeing.

Q You recently participated in the IBF Golden Jubilee ITE Scholarship in mid-May. Why did J.P. Morgan decide to be part of it, and to include a slot for AI applications?

We have always partnered very closely with the MAS/IBF to help develop the local talent pool. Being a firm that has a wide range of roles requiring different skillsets, we saw the opportunity to utilise the skills that the ITE students bring to the table within a specific set of roles. This would also give us the opportunity to work closely with ITE to feedback on the curriculum which they are keenly developing to ensure they are preparing talent for the current market.

As you can imagine, AI/ML is a space that the company is keenly investing in at the moment and as with many of our teams internally, introducing diverse talent into the space is often a good catalyst for innovation

We will keep a close eye on how the programme progresses and stay close to IBF and ITE to provide feedback. The partnership will hopefully help to shape an alternative talent pool for the industry and create meaningful opportunities for students with these non-traditional and diverse skillsets.

Q On the personal front, how do you, as an individual and a leader, stay up to date with the latest trends and advancements in talent development and training, especially in the fast-evolving financial and technology sectors?

The honest answer is that it isn’t easy as we all have limited time, and the pace of change is quite exceptional. I try to stay up to date by being curious – I start the day by reading the news to understand what is happening in the markets; I stay connected to my colleagues and industry network to gain knowledge and insights within their respective areas and businesses.

Q Let's end on a fun note! If you could invite any three historical figures to speak to the new joiners at J.P. Morgan, who would you choose and why?

Steve Jobs – Experience in innovation, financial success through creativity and customer engagement would provide insights to new joiners on what we achieve here at J.P. Morgan.

Lee Kuan Yew – A home pick for me, as the founding Prime Minister of Singapore was a visionary who implemented policies that transformed Singapore into the modern city-state that it is today. He would be able to teach new joiners the importance of planning and governance to support a vision.

John Pierpont Morgan – His belief in the importance of character and trust – before money or anything else – laid a strong foundation for the firm. Today, we do right by our clients, colleagues and communities, based on the principles he had imbued into the fabric of our organisation from the very start. I’m sure he will be a fascinating speaker for new joiners!

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Photo: Provided