Cheating on your SATs isn't cool. You know what's cool? Cheating on a professional exam for no good reason and getting fired. THAT'S cool.
JPMorgan Chase & Co., the biggest U.S. bank, dismissed 10 analysts last month for cheating on internal training exams, a person briefed on the matter said Friday. Some of the employees were based in New York and some in Latin America, said the person, who asked not to be identified because the moves aren’t public. The analysts are junior bankers, not research analysts who recommend stocks to investors...Goldman Sachs Group Inc. dismissed 20 analysts globally, including some in London and New York, after discovering they had cheated on tests for junior employees, Bloomberg reported earlier Friday, citing people familiar with the matter.
When the first league tables for this sort of thing are reported, JP Morgan's junior team will be content knowing it didn't just roll over and let Goldman take the gold without putting up a fight first.