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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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@ Consumed - the only reason US workers mightn't want to get trained and compete for very highly paid jobs in the tech sector - is that they listen to folks like you and Yvonne. Your post made virtually zero sense.
Let me put it another way. Jamie Dimon isn't planning to set up shop in JC to outsource those tech jobs overseas. He isn't an idiot.
Posted on: 2015/8/6 20:44
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Just can't stay away
 
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see i actually have not only worked in tech but have run corporate IT departments as well as being a consultant who was brought in to either help replace dysfunctional teams or find the cause of the problem and "fix it".
I made it a point not to hire H1B. and this is my problem with this situation. i will admit you are correct in the point of having a hard time finding qualified people but it stems from the H1B system in itself. i got the same story from most of my candidates as well as my full time team. not seeing a long term investment in US workers they were worried about putting all the money and time into taking courses if they were not going to be able to get work because of outsourcing. most companies i have worked for didn't go the h1b route because of not finding qualified people it was because originally they knew once they locked one of them in they became slaves. their future relied on them keeping that job so they would put in insane amounts of time and deal with ridiculous workloads because they would get threatened with being let go and they would have to ether start the process all over again or move back home. so why would a home grown employee kill themselves not knowing if there would be a job for them when they received all the training? but now let me tell you the truth of outsourcing and h1b at least from my experience. i have had family members work for some of these outsourcing groups. let me tell you how they operate and this still is relevant especially in jersey city. first off. a majority (not all) of h1b in jersey have either fake certifications or someone else took the tests for them. some flat out pay others or even the schools to "pass" the courses. again not all as i have worked with some very smart foreign workers who earned their way up the ladder while they are in "training" they get put up in apartments and houses sometimes up to 6 to a room in bunk beds and minimal living conditions. i had the opportunity to "get" any certs wanted. would take a couple of months to spread them out and of course would cost more than the actual course but int he end i would be recorded with any cert i wanted without taking the training (no i didnt take any) they work for pennies as part of their "training and education" till they "pass their certs. once they get certified then a handler interviews them pretty much tells them what they are going to do and how much it will cost them to get hired. so again its not all of them but it is a huge shady industry. they work from the inside out, i dont blame them for trying to better themselves but at our citizens expense. companies who outsource should pay even a higher tax me i got tired of wondering when the bubble would fully burst on the tech sector and made my way out to operations. at least i think i can ride the rest of my career through that till i can hopefully retire so dont go blaming the loss of talent on workers. is just no one wants to take expensive risks not knowing what the job market is going to do. lets not even get into the crazyness companies are asking from some techs nowdays where they want someone who can do every aspect of tech, doesnt work that way. you will find someone who can do some of everything but not well. then again i guess people will say its because we are lazy. Quote:
Posted on: 2015/8/6 18:23
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Censorship is for pussies!!!!
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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How many hedge funds and technology companies have you worked for, Yvonne? How many candidates for these companies have you interviewed and managed? Oh, right; zero and zero. Even with H1Bs being considered, there are still numerous positions at the firm I work for that are simply sitting unfilled because we cannot find qualified people... even when we expand the search to include less experienced people that we can invest in (which slows down the work of our engineering team because of having to get people up to speed, so it can't be done lightly). We pay headhunters tens of thousands of dollars per candidate and still can't find enough talent.
Posted on: 2015/8/6 16:42
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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J.P. Morgan to Move 2,150 Jobs From Manhattan to Jersey CityBank will get $19 million in subsidies for move to New JerseyBy Peter Grant And Heather Haddon The Wall Street Journal - Aug. 5, 2015 3:11 p.m. ET The largest U.S. bank by assets has leased 400,000 square feet of a building at 545 Washington Boulevard, according to Harrison LeFrak, vice chairman of the family controlled business that owns the building. The groups being moved to the building are primarily involved in technology and operations, he said. J.P. Morgan last year bought the building next door, 575 Washington Boulevard, where it consolidated its New Jersey operations. Read more: http://www.wsj.com/articles/j-p-morga ... to-jersey-city-1438801909
Posted on: 2015/8/6 16:26
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Your statements that H1bs fill a gap in homegrown talent to meet US business demand locally is false. Furthermore, my comment about the so-called 200 to 500 workers on these tax abated projects are examples of the city inflating the numbers. There are no 200 to 500 jobs. I do not like Donald Trump, but I can understand the support he is getting by placing either 1st or 2nd in a crowded field when he is talking about illegal immigration and American jobs.
Posted on: 2015/7/12 13:34
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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in the case of disney, those visa-workers were simply working for less than an american worker!
Posted on: 2015/7/12 11:10
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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+1. Yvonne is arguing H1b workers will steal American jobs and take them overseas - given her Disney example. The truth is simply - H1bs fill a gap in homegrown talent to meet US business demand locally. Quote:
These aren't your grandfather's jobs-for-life. Turnover in finance and tech is between 10-20% every year. In the US, we call that "opportunity".
Posted on: 2015/7/12 10:21
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Home away from home
Joined:
2014/6/9 22:10 Last Login : 2017/6/16 11:22 From Jersey City, NJ
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Again with the parking. You'll be surprised how many of those folks take transit from near and far. I'm a former JPM worker btw. Relocated to JC and moved here as well from manhattan as I saw the obvious real estate possibilities. Also, I'm a US citizen who won't meet your visual of one.
Posted on: 2015/7/12 2:07
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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I want any business who receives a tax break to show the figures of who they hire. The burden should be on the business. This reminds of the abatement deals when they say they are hiring 200 or 500 workers for the project. Really, where do these 200 to 500 workers park their cars? Those numbers are in the ordinance, but there is never any hard proof when I ask.
Posted on: 2015/7/12 1:18
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Newbie
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A few corrections.
The job listing are for 575 Washington. I'm pretty sure the news story is about JP Morgan are moving into 545 Washington. So to say that jobs are being 'created' is a little loose with the truth. JPM are taking over the space Knight/KCG are currently occupying and moving their 800'ish employees into a new office in NYC (consolidating their existing NYC and JC offices). This was announced to the staff by the CEO a couple of weeks ago. Seems crazy to me, but I guess JPM are getting a nice tax break out of it
Posted on: 2015/7/12 1:06
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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This argument is idiotic. H1Bs represent the best and the brightest that foreign countries have to offer, and they want to come to the U.S. and contribute to our economy, culture, and diversity. Why is that a problem, at all?
Yvonne is overstating the number of H1Bs that a major bank hires (and, yes, the process of applying for H1Bs is a huge pain in the ass, so of course they would prefer to hire citizens), and Dtjcview is probably understating, but the point is that it doesn't matter. They work hard, they pay their taxes, they contribute to the economy. Citizen or no, they're a hell of a lot more "American" than the lazy-ass who can't even be bothered to learn a salable skill and expects a good job to be handed to him because he's a citizen.
Posted on: 2015/7/11 23:36
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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First, I am retired, I am not looking for a job. Second, posting jobs mean nothing. Political people post jobs all the time in requirements of state statues and they still hire their friends. Business post jobs and still hire overseas. I know what is happening. It is the same that happened to Disney. In source employees work cheaper than American workers.
Posted on: 2015/7/11 21:22
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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I've posted the numbers and real job openings. You haven't given any facts. Just your typical mix of supposition, innuendo, fear-mongering and now persecution complex. There is a huge tech skills shortage in the US. The president realises this. The mayor realises this. JP Morgan is providing job opportunities directly in JC. It's down to local talent to make sure they're the best candidates for those jobs. And they won't do that by listening to failed, protectionist educators like yourself. http://www.theverge.com/2015/3/10/817 ... llion-fund-for-tech-hires http://www.cityofjerseycity.com/uploa ... ement%20Jeresy%20City.pdf
Posted on: 2015/7/11 20:39
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Amazing, how people don't like the answer, the result is twisted to be xenophobia. This reminds me of seeing the old news reels on Senator Joe McCarthy, when he didn't like the answer he would called his opponent a Communist so they would back down. You substitute xenophobia instead. I don't care what you call me. If you are getting tax breaks from the state and or city, then your employees should be American citizens. It is too bad, jtjcview, you missed the News12 interview of the employees of AIG when the company closed their office in JC, they were not American citizens and expressed a concern they would have to return to their country.
Posted on: 2015/7/11 19:46
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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All that proves is your xenophobia. 23.67% of Jersey City is Asian-American - and the majority of those are US citizens. Asian-Americans top every US education measure by a long way - is it surprising they are highly represented in the professional job numbers at JPM Chase? JP Morgan's total H1/Green Card apps for professional workers represented a tiny fraction of their total workforce in 2014 - and it's generally only to backfill what they can't find locally. Quit complaining and get educated. http://www.visasquare.com/visa-greenc ... p-morgan-chase-49589.html
Posted on: 2015/7/11 19:06
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Just can't stay away
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i see the gestapo deleted another post. amazing.
Posted on: 2015/7/11 19:05
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Censorship is for pussies!!!!
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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I see the Asian population for professional is 19.8% in their work force, while the US cenus 2010 is 4.8%. Since the people who take these jobs are usually from Asian countries, I believe the data they provided makes my point. The term is called insourcing, or bringing nonresidents to take the jobs of residents.
Posted on: 2015/7/11 18:16
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Why don't you ask them if you're interested? They don't seem to have an issue with providing stats: http://www.jpmorganchase.com/corporate/About-JPMC/careers.htm
Posted on: 2015/7/11 17:51
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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I suggest JP Morgan show the list of people on their payroll for the last 4 years of hires. If they want public tax breaks then that information should also be public.
Posted on: 2015/7/11 17:19
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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I post real jobs in JC on offer at JP Morgan - and you post Disney tales and complaints from imaginary friends?
Posted on: 2015/7/11 17:03
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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I know what I am talking about, I have friends in this industry who have complained about this all the time. Let's now forget that American workers had to train foreign workers for their jobs at Disney. http://www.uscis.gov/news/uscis-reaches-fy-2015-h-1b-cap-0
Posted on: 2015/7/11 15:49
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Here's a small sample of the near 300 job openings available in Jersey City from JP's career site:
Lead Business Process Re-Engineer - Organizational Performance Management-Full-time US-DE-Newark-MCC - Ops 4 / 00778, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 10, 2015-Requisition ID 150048478 Apply|Add to My Job Cart| Third Party Risk Assessor - Corporate Technology & Risk-Full-time US-OH-Columbus-Polaris McCoy Center / 54101, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 10, 2015-Requisition ID 150054850 Apply|Add to My Job Cart| Service Improvement Project Manager-Full-time US-NY-New York-270 Park Avenue / 02317, US-NY-Brooklyn-3 Chase Metrotech Ctr / 03355, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 10, 2015-Requisition ID 150055434 Apply|Add to My Job Cart| Java/Database Application Developer-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 10, 2015-Requisition ID 150016591 Apply|Add to My Job Cart| Information Risk Director-Full-time US-NY-New York-277 Park Avenue / 03363, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969, US-DE-Wilmington-One Christina Center / 52381 Job Posting:Jul 10, 2015-Requisition ID 150025949 Apply|Add to My Job Cart| AIX System Administrator, Global Services Operations-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969, US-OH-Columbus-1000 Polaris / 58421, US-TX-Houston-1111 Fannin / 01632 Job Posting:Jul 10, 2015-Requisition ID 150065764 Apply|Add to My Job Cart| Senior Enterprise Java Application Developer-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969, US-OH-Columbus-Polaris McCoy Center / 54101 Job Posting:Jul 10, 2015-Requisition ID 150074264 Apply|Add to My Job Cart| Database Management Analyst-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 10, 2015-Requisition ID 150073546 Apply|Add to My Job Cart| Network Instrumentation Engineer Lead, Global Network Services-Full-time US-DE-Newark-MCC Commons Bldg / 00771, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969, US-OH-Columbus-Polaris McCoy Center / 54101 Job Posting:Jul 9, 2015-Requisition ID 140100890 Apply|Add to My Job Cart| IT Audit Risk Security Compliance Lead, Global Service Operations-Full-time US-TX-Houston-1111 Fannin / 01632, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969, US-OH-Columbus-Polaris McCoy Center / 54101 Job Posting:Jul 9, 2015-Requisition ID 150053149 Apply|Add to My Job Cart| Business Applications Support Analyst-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 9, 2015-Requisition ID 150063910 Apply|Add to My Job Cart| Applications Solutions Engineer Lead - Control Systems Technology-Full-time US-NY-Brooklyn-3 Chase Metrotech Ctr / 03355, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 9, 2015-Requisition ID 150052486 Apply|Add to My Job Cart| Tech Ops Production Manager-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 9, 2015-Requisition ID 150071724 Apply|Add to My Job Cart| Executive Director, Sr. Application Manager - Identity & Access Management-Full-time US-NY-Brooklyn-3 Chase Metrotech Ctr / 03355, US-FL-Tampa-One Memorial Center / 02981, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 More... Job Posting:Jul 9, 2015-Requisition ID 150063667 Apply|Add to My Job Cart| Senior Oracle DBA, Global Service Operations-Full-time US-TX-Houston-1111 Fannin / 01632, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 9, 2015-Requisition ID 150032718 Apply|Add to My Job Cart| Lead Business Analyst-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 9, 2015-Requisition ID 150073400 Apply|Add to My Job Cart| QA Engineer-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 9, 2015-Requisition ID 150047213 Apply|Add to My Job Cart| Applications Support-Full-time US-OH-Columbus-Polaris McCoy Center / 54101, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 9, 2015-Requisition ID 150037130 Apply|Add to My Job Cart| Third Party Vulnerability Manager - Corporate Technology & Risk-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969, US-OH-Columbus-Polaris McCoy Center / 54101 Job Posting:Jul 8, 2015-Requisition ID 150024811 Apply|Add to My Job Cart| Business Management Analyst / Administrator-Full-time US-NJ-Whippany-300 Jefferson Park,Bldg D (BSC / 41031, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 8, 2015-Requisition ID 150067163 Apply|Add to My Job Cart| Information Risk Lead- Cyber Security-Full-time US-OH-Columbus-Polaris McCoy Center / 54101, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 8, 2015-Requisition ID 150070988 Apply|Add to My Job Cart| Applications Developer-Full-time US-OH-Columbus-Polaris McCoy Center / 54101, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 7, 2015-Requisition ID 150073079 Apply|Add to My Job Cart| Information Risk Analyst-Full-time US-NJ-Jersey City-NOC 7 - 480 Washington Blvd / 59199 Job Posting:Jul 7, 2015-Requisition ID 150051499 Apply|Add to My Job Cart| Applications Developer Lead-Full-time US-NJ-Whippany-300 Jefferson Park,Bldg D (BSC / 41031, US-NJ-Jersey City-NOC 5 - 575 Washington / 02969 Job Posting:Jul 7, 2015-Requisition ID 150070191 Apply|Add to My Job Cart| Business Analyst Lead-Full-time US-NJ-Jersey City-NOC 5 - 575 Washington / 02969, US-NY-Brooklyn-4 Chase Metrotech Ctr / 03357 Job Posting:Jul 7, 2015-Requisition ID 150050869 Apply|Add to My Job Cart|
Posted on: 2015/7/11 14:41
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Pretty sure JP Morgan - like most large US companies - post all their job openings online - and will give preference to US applicants. Stop whining - get a good education and learn to compete. Course, you wouldn't know much about education these days. https://careers.jpmorganchase.com/career/jpmc/careers/search-apply
Posted on: 2015/7/11 14:26
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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JP Morgan as the rest of the banking industry are hiring H1B Visa workers from overseas. This is nothing but window dressing the giving of $1 million for job training. They are not hiring locally and they are not hiring Americans, so why give them a tax break? The only people benefit is the food industry service, but the PATH will have more crowded passengers.
Posted on: 2015/7/11 14:03
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It's the other way around for tech - R&D is mostly onshore, tech ops offshore.
Posted on: 2015/7/10 13:11
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Re: JP Morgan is looking for a $18M tax break to move jobs to JC
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Quite a regular
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for financial service firms, probably Goldman -- moved most of their US back office operations to Salt Lake City Fidelity -- in Dallas Blackrock -- in Delaware JPM -- in Dallas WF -- in Charlotte these are just operations. the R&D staff is global in low cost countries (1,000s of developers in countries like India and Eastern Europe) banks are moving all operations to low cost states/cities where they have access to cheap, smart college grads. primarily because video conferencing and shared networks have become so cheap that it makes sense for them to do
Posted on: 2015/7/10 13:07
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Home away from home
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JPMorgan awarded $188M N.J. tax break to move to Jersey City
Samantha Marcus | NJ Advance Media for NJ.com JPMorgan Chase Bank will receive $188 million in tax credits over 10 years to move more than 2,000 jobs from New York to Jersey City. New Jersey's Economic Development Authority on Thursday approved the $18.8 million-a-year, $8,734 per job corporate tax incentive to entice the financial giant across the Hudson River. Officials said the tax breaks were necessary to boost Jersey City over less expensive locations in Delaware and Ohio. "The location analysis submitted to the authority shows New Jersey to be the more expensive option and, as a result, the management of JPMorgan Chase Bank has indicated that the grant of tax credits is a material factor in the company's location decision," an EDA analysis said. Story
Posted on: 2015/7/10 10:42
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are tax incentives the only way for nj to create/steal jobs
Posted on: 2015/7/8 0:39
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JP Morgan is looking for a $18M tax break to move jobs to JC
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Home away from home
Joined:
2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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J.P. Morgan Chase Seeks to Move 2,150 Jobs From NYC to Jersey City
By HEATHER HADDON July 7, 2015 4:19 p.m. ET J.P. Morgan Chase & Co. is looking to move 2,150 jobs from New York City to Jersey City, the latest expansion of the financial institution across the Hudson River. http://www.wsj.com/articles/j-p-morga ... to-jersey-city-1436300285 http://www.nj.com/hudson/index.ssf/20 ... to_jers.html#incart_river
Posted on: 2015/7/8 0:00
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