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Employee Referral Award Program


Please note: The Employee Referral Award Program only applies to experienced referrals. Campus program referrals are not eligible for award payments.

 

The Firm encourages all employees to refer candidates as they are a valuable source of talent. The Employee Referral Award program is a component of the Hiring of Referred Candidates Policy and a global program whose guidelines govern the payment of all positions offering a referral bonus.

The award component of the employee referral process does not change or influence the decision making of the recruiting/hiring process.

Acknowledgement of Terms and Conditions: By making referrals under this program, participants agree to all terms and conditions of the program and agree to abide by the Hiring of Referred Candidates Policy. The Firm reserves the right to change or terminate any or all of the program at any time, without notice.

To be eligible to receive an award payment the following criteria must be met:

  • The referral was submitted through the Referral Portal prior to the candidate being hired in the system of record
  • The requisition to which the candidate was hired had a referral award listed
  • The position is not considered a campus-recruited entry level (Intern, Analyst & Associate) position
  • The candidate was hired in the system of record (Taleo) within 6 months of your submittal date
  • The referral award is for referrals by in-country employees only at time of referral and payout (Cross country referrals are not eligible for payment)
  • The Referring Party’s right of referral is active at the time of hire
  • The award amount is not above the region’s maximum award amount
  • The referral was submitted with a valid email address
  • Philippines Only: The candidate has confirmed the Referring Party in the system of record prior to an offer of employment

 

The Referring Party may be eligible for an award payment if they:

  • Are a salary grade level of 603 and below at the time of submittal (604+ level employees are not eligible)
  • Are full time/part time JPMC employee (Interns, Temps, Fixed term Contractors*, Fixed Term Employees are not eligible)
  • Are not in a Human Resources role or cost center
  • Are not likely to be part of the recruiting or hiring process for the role (e.g. recruiting staff, hiring managers and their manager hierarchy)
  • Are an active employee at the time of award maturity and payout
  • Are in the same country as the requisition was posted to which they are referring the candidate
  • Are not part of the referred candidate’s management hierarchy two levels up from submittal to payout

 

The referred candidate who was hired satisfied the program requirements if they:

  • Are not an internal transfer
  • Have reached the program maturity period
  • Are not a contractor/contingent worker (e.g. summer interns, fixed term contractors converting to a JPMC employee)
  • Are not part of a campus or SIP program (e.g. interns)
  • Are a new hire or rehire but not a reinstate (i.e. a former employee returning to the firm within one year)
  • Are an active employee at the time of award maturity
  • From the maturity date to the payout date, have not been terminated from the Firm with a termination code of fraud or misconduct

 

If eligible for the award payment, it shall be distributed as follows:

  • One time lump sum single distribution
  • Delivered in the same manner as you receive your normal payroll (e.g. if you receive direct deposit, the award will be paid out via direct deposit or if you receive a check, the award will be paid out by check)
  • Separate from your normal payroll advice/check
  • Subject to all applicable taxes
  • Generally made eight (8) to ten (10) weeks after completion of the maturity period and eligibility review. Therefore, your referral award may take up to 5 months to be paid from the time the candidate starts.
    For example,
    • Your referral starts on January 15
    • Maturity period ends April 15
    • Eligibility review completes on May 5
    • Payment occurs by last pay period in June
  • NAMR Only: If you have multiple referrals due to be paid during the same month, they will paid over consecutive months where the cost center is the same.

 

The maturity period is at the end of the referred candidate’s standard local probationary period or, if there is no local probationary period, after completing 90 days of continuous active employment after starting with the Firm.


 

FAQs

How will I know if a job is offering a referral award payment?
The job posting will have an amount listed in the upper left hand corner. If the amount is listed as 0.0, the job is not offering a referral award payment.

How will I know the amount of the award?
The job posting will have an amount listed in the upper left hand corner. If the amount is listed as 0.0, the job is not offering a referral award payment.

Are there exceptions to the program?
No, from both a line of business and regional perspective, there are no exceptions regarding eligibility and payment. In keeping wit the Firm’s Hiring of Referred Candidates – Global Policy, it is expected that employees refer candidates in a timely manner using the Referral Portal. Campus roles are not payment eligible.

Who can I call if I have questions on the referral award program?
If you have additional questions regarding program guidelines, you can contact accessHR.

Who can I call if I have questions on my award payment?
If you have questions in regards to an award payment, you can contact accessHR. Do not contact the Recruiter. Since the eligibility review does not occur until the end of the maturity period, accessHR will not be able to answer questions regarding your eligibility until after the maturity period ends. Although you should not contact the Recruiter about the status of an award payment, you can contact them for high level status updates in regards to the recruiting process (e.g. interviewing, hired, etc.).

How long is the ownership period of a referral I submitted/How long is my referral valid?
For award purposes, an employee will own the referral relationship for a period of 6 months from the initial referral submittal date. If you submitted a referral for one position and the candidate is hired to another position within the 6 month referral ownership period, you as the Referring Party would be eligible for an award payment on an award eligible posting provided all other program criteria has been met.

What is the right of referral?
Because multiple individuals can refer the same candidate, the first person who refers the candidate would have the right of the referral for the 6 month validity period. Although the Referring Party may have the “right of referral”, it does not mean that they will receive an award payment. All eligibility requirements must be met before an award will be paid out.
Assuming all other eligibility criteria has been met, an example would be as follows:

  • Sponsor 1 submits a referral for Candidate 1 on January 15
  • Sponsor 2 submits a referral for Candidate 1 on February 15
  • Sponsor 1 has the right of referral
  • Candidate 1 is hired to the firm on July 30
  • Sponsor 1’s right of referral has expired and is no longer eligible for the award
  • Sponsor 2 becomes eligible for the award

The right of referral also occurs when the candidate is referred by a recruiting agency. For purposes of the referral award payment, the recruiting agency would have the right of referral for 6 months.

Are other eligibility requirements used when determining the right of the referral?
No, only the 6 month validity period is used when determining which Referring Party has the right of the referral.

Can more than one person be eligible for the referral award payment?
Only one person can be eligible for the referral award payment at any given time. If the 6 month referral validity period expires, and if there is a second Referring Party, that individual would be eligible for the referral award provided that they met all the program criteria.

Can I resubmit a referral if my referral expires at 6 months?
Yes, you can submit a referral a second time if your referral expires. Submitting a referral a second time does not guarantee eligibility or payment of a referral award. There may be circumstances where there are multiple Referring Parties for the same candidates. Eligibility of payment will be determined by the date the referral was submitted, with the earlier date superseding later dated referrals.

What if the Referring Party or Referred Candidate is not active at the time of award maturity?
Both the Referring Party and the Referred Candidate must be active at the time of award maturity to be eligible for the award payment.

Will I still get an award if I am no longer with JPMC after the maturity date?
No, the Referring Party must be active at the time the award is paid out.

Can I submit a referral after the candidate has already been hired and be eligible for an award payment?
To be eligible for an award payment, referrals must be made through the Referral Portal prior to the candidate being hired in the system of record (Taleo). However, you may submit a referral after the hire has occurred for compliance purposes but you will not be eligible for an award payment.

Can I submit a referral and be eligible for a payment if my candidate has already started interviewing for the position?
Yes, provided all other program criteria has been met, referrals can be submitted at any time throughout the recruiting process to be eligible for an award payment.

Am I eligible for payment if I hand or email a Recruiter or Hiring Manager a resume?
No, the referral must be submitted through the Referral Portal prior to the candidate being hired in the system of record (Taleo Please refer to the Submitting a Referral FAQ for your obligations under the Hiring of Referred Candidates – Global Policy.

Am I eligible for payment if my Referred Candidate reports to me?
No, the Referred Candidate cannot be within two subordinate levels of the Referring Party or be part of the recruiting process for that Referred Candidate.

What am I supposed to do with the “Action Required on Your Referral” email?
Review the email and click on the appropriate option regarding your referral. Select “Yes, I was involved” if you were involved in the interview or approval process of the candidate, or select “No, I was not involved” if you were not involved in the interview or approval process of the candidate. Failure to answer correctly or failure to answer will make you ineligible for the award payment.

What if I can’t find the email?
You will receive an initial request and two reminder emails over a three week period. If you can’t find the email, please contact accessHR for assistance.

What if I don’t have a JPMC based email address?
The requirement of completing the email is not applicable to those without a JPMC email address.

Do I need to take any action when I receive the “Update on your Referral” email?
No, you do not need to take any additional actions as you are receiving a status update in regards to your eligibility of a referral award payment as of the day the email was sent. To receive your award payment, there must be no changes to your eligibility status between the date of the update e-mail and the award payment date.

*Unless local law dictates otherwise