Jamie Dimon doesn't think business school grads should take private equity jobs while working at JPMorgan.
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00:00The other thing I don't like, I just want to mention this, I know a lot of you, you
00:03work at J.P. Morgan, you take a job at a private equity shop before you even start with us.
00:07It's crazy.
00:08Yeah.
00:09Okay, wait.
00:10I'm going to say something a little different, okay, because I didn't talk about character.
00:13The most important thing about people is character.
00:16I think that's unethical.
00:18I don't like it.
00:19And I've already, I may eliminate it regardless of what the private equity guy say or the
00:24people in the company.
00:25First of all, I want patriots, not mercenaries.
00:28And I think it's wrong to put you in the position where you have to kind of decide
00:31the next career move before you've had a chance to see what one company's like.
00:34So where do you-
00:35Jamie, there's another problem.
00:37So the banks used to come and hire students for the internship after the junior year,
00:44when they were sophomores and well into the junior year, and it keeps moving early and
00:48early.
00:49They haven't even declared a major.
00:50They haven't even tried to figure out what they want to major in, what they want to do.
00:55You know what?
00:56So we had to get together some schools and some of the banks and we, you know, remember
01:00there's antitrust law, but this is called decency and respect.
01:04Can we come up with the policies, you know, get some lawyers in the room that we all agree
01:08to do it because it puts the kid in a terrible position.
01:11And so I think that's wrong.
01:12And it puts us in a bad position and it puts us in a conflicted position.
01:16You are already working for somewhere else and you're dealing with highly confidential
01:19information from JP Morgan.
01:21And I just don't like it.