According to a leaked memo, JPMorgan is telling junior analysts that they will be fired if they accept another job in advance. Private equity firms offer candidates jobs up to two years in advance of a start date. Now, JPMorgan is warning incoming U.S. analysts that they will be fired if they accept a future-dated job offer within 18 months of joining the firm. Associates at private equity firms make a median of $236,000 per year, including base pay and bonuses, according to Glassdoor data. Investment banking hours are also longer than private equity hours, though JPMorgan began restricting junior investment bankers' working hours to 80 hours a week in September.