NEW YORK, AUGUST 31, 2011 - JPMorgan Chase (NYSE:JPM) today announced it has committed to double the number of engineering interns it hires in 2012 and will be joining the President's Council on Jobs and Competitiveness initiative. The initiative aims to add 10,000 engineering graduates each year.
"It is critical, particularly in today's challenging economic times, that we do all we can to grow a highly trained workforce in the U.S.," said Frank Bisignano, JPMorgan Chase & Co. Chief Administrative Officer and CEO of Chase Mortgage Banking. "The private sector plays an important role in preparing college students and giving them exposure to workplace mechanics and what it takes to run a company. We are committed to helping the President's Council on this initiative and believe that improving college graduation rates for engineering students is a step toward our nation's ability to remain a leader in innovation and help the global economy recover."
JPMorgan Chase has been committed to hiring engineering majors into its technology and operations programs in the U.S., steadily increasing the number of engineering interns it hires each year since 2009. Over the last two years, the firm has partnered with Syracuse University and the University of Delaware to develop an innovative approach to strengthening America's STEM education program. Working with the two universities, JPMorgan Chase has helped create an interdisciplinary Global Enterprise Technology (GET) Program to better engage and prepare students for successful technology careers in complex, large-scale and global operating environments, through curriculum development, experiential learning opportunities for students, joint applied research projects and community engagement. Program components include:
GET Undergraduate Curriculum and Minor. Cross-listed in Syracuse University's School of Information Studies, LC Smith College of Engineering and Computer Science, and Whitman School of Management, this program captures a broad range of STEM disciplines. It provides students with an experiential, problem-based learning environment that connects them with the real world-providing context for learning and exposing students to the excitement of solving problems, all of which encourages retention in the field. To encourage open access to GET course materials, a course repository is being developed to allow other educators access to the curriculum. The GET Curriculum and Minor will be available to University of Delaware students this Fall.
GET Immersion Experience Internships. Sophomores and juniors are embedded in full -time work at JPMorgan Chase and other global firms from January to August to solve real technology problems while taking GET courses designed to connect specific topics with challenges and opportunities in the workplace. Students are assigned peer and senior mentors to facilitate their professional development. The number of students enrolled in GET Immersion Experience internships program has quadrupled since it launched two years ago, and is expected to double next year.
GET Certificate of Advanced Studies. This is a one-year graduate-level GET program which will launch this Fall at Syracuse University.
GET Veterans Technology Program. The Veterans Technology Program is a non-credit certificate program offered by Syracuse University. This program is available to both employed and unemployed, post 9/11 veterans with a minimum of a high school diploma, and is comprised of two certificates, VET 1: Career Skills for Global Enterprises and VET 2: Applied Technology Education. The GET content was leveraged in developing this program.
Technology Center at Syracuse University. JPMorgan Chase established a 125-seat Technology Center on Syracuse University campus, through which the company has increased the number of year-round internship opportunities for Syracuse University students. This Fall, 75 full-time students will be interning at the Center.
Innovation Center at University of Delaware. This Summer, JPMorgan Chase opened an Innovation Center on University of Delaware's campus, which will help facilitate and significantly increase the number of internship opportunities available for University of Delaware's technology students. The firm, through its Technology for Social Good initiative, has also engaged students to work on technology projects in support of non-profit organizations, such as building a National Eating Disorders Association (NEDA) website and a technology application for PerScholas, a non-profit technology training organization.
In addition to the initiatives above, JPMorgan Chase employees and faculty from Syracuse University and University of Delaware have been working with graduate students on applied research projects focused on the JPMorgan Chase's technology challenges. The firm has started including undergraduate students in these applied research opportunities as well. JPMorgan Chase and the National Science Foundation co-sponsored a GET Curriculum Workshop hosted by Syracuse University this past May at which approximately 35 universities and colleges were represented.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The Firm is a leader in investment banking, financial services for consumers, small-business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.