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JP Morgan Chase's investment bank has dropped its long-standing intern recruiting visits to college campuses, Business Insider reported. The bank instead will ask students to apply by submitting video interviews and taking online behavioral science tests. The change is designed to create a more level playing field for potential recruits who are from underserved backgrounds or who attended less selective colleges, the bank said.
Last week JP Morgan announced $350 million in grants for high-demand career education programs, many of them offered by community colleges. The five-year grant program follows a similar investment of $250 million by the company.
The bank's elimination of campus recruiting visits for interns follows moves by a small but growing number of large companies to drop degree requirements for some jobs, including IBM, Apple and Google. Likewise, more employers are conducting prehiring assessments of prospective employees, which in some cases allow employers to bypass college credentials in the hiring process.
