New York, NY (July 12, 2017) – Today the Council for Adult and Experiential Learning (CAEL) and JPMorgan Chase & Co. unveiled a new, online interactive career exploration tool called BankingOnMyCareer.com linking New Yorkers to middle skills financial services jobs, those requiring more education and training than a high school diploma but less than a four-year college degree. New York’s labor market for such jobs has grown by six percent since 2010. This interactive offers a powerful job matching tool, career maps, detailed job descriptions and industry information to help give middle skilled users a chance to get their foot in the door in the financial services industry and establish long term, good-paying careers.
“The financial services industry is thriving, giving those just entering the workforce a perfect opportunity to start their careers,” said CAEL CEO and President Pamela Tate. “BankingOnMyCareer.com will open the door to a number of rewarding career opportunities that are suited to a diverse range of education backgrounds and career aspirations. We are tremendously thankful for JPMorgan Chase’s support and for the support of the many stakeholders whose contributions make the site possible.”
There is a wide variety of career options available in the financial services sector and BankingOnMyCareer.com outlines just how many opportunities for roles in retail banking and other career types can be the starting point on a successful career pathway in the industry. Currently there are 7,500 job openings in the industry in New York City where middle-skilled jobs in retail banking pay, on average, $61,000 a year. Other diverse careers include Customer Service Representatives, Operations, Mortgage Assistant, Anti-Money Laundering Analyst and Financial Advisor.
“We want New Yorkers to know there are thousands of good-paying job opportunities in the financial services sector just waiting to be filled by middle-skilled workers,” said Chauncy Lennon, Head of Workforce Initiatives at JPMorgan Chase. “Partnering to incentivize job seekers to seek opportunities that match their skill set is critically important to reducing unemployment and keeping our local economies afloat.”
According to the Partnership for New York City, the financial services industry is responsible for one million direct and indirect jobs, contributing $8 billion in taxes to the city’s annual budget in 2015. The industry represents 39 percent of the city’s economic output, totaling $276 billion in contributions.
“Navigating job opportunities in the banking industry just got a lot easier and more accessible to diverse populations, thanks to JPMorgan Chase’s investment in BankingOnMyCareer.Com,” stated Kathryn Wylde, President & CEO, Partnership for New York City.
This custom-built career exploration site draws from the rich industry and workforce development experience of a breadth of partners including 13 financial services employers including JPMorgan Chase, New York City Mayor Bill de Blasio, and the Partnership for New York City. Several local higher education institutions as well as a number of community based organizations serving all five boroughs of New York City also contributed to the project.
“Banking on My Career is an important and impactful resource for New York City’s workforce,” said Scott Evenbeck, President, Stella and Charles Guttman Community College. “Students at Stella and Charles Guttman Community College, as well as CUNY, aspire to build careers in the financial industry and stay in New York City. This tool will help those students, and their advisors, to navigate potential careers and better define pathways to a strong financial future.”
The tool was created through a unique partnership between CAEL, JPMorgan Chase, Partnership for NYC, and the City University of New York. JPMorgan Chase invested $580,000 to develop the interactive tool as part of its $350 million philanthropic commitment to skills development around the world.
BankingOnMyCareer.com joins platforms Vividfuture.org, PetrochemWorks.com and COCareerActionTools.com, which provide career insight into the telecommunications, petrochemical and advanced manufacturing industries, respectively. BankingOnMyCareer.com is accessible across all platforms including phones and tablets.
About the Council for Adult and Experiential Learning (CAEL)
The Council for Adult and Experiential Learning (CAEL) is a nonprofit 501(c)(3) organization based in Chicago that assists adults with their educational endeavors, finding practical ways to help them earn college credit for learning acquired through life and work experiences toward the completion of a postsecondary degree. CAEL works with the public sector, private sector industries and higher education institutions to ensure that adult students receive the most efficient training and education to occupy a meaningful professional place in a 21st century economy. For more information, visit www.cael.org.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, 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 worlds most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.magverry.com.