diff --git a/packages/jest/src/migrations/update-15-8-0/__snapshots__/update-configs-jest-29.spec.ts.snap b/packages/jest/src/migrations/update-15-8-0/__snapshots__/update-configs-jest-29.spec.ts.snap
index 42c80fd9c667c..903ff8202052b 100644
--- a/packages/jest/src/migrations/update-15-8-0/__snapshots__/update-configs-jest-29.spec.ts.snap
+++ b/packages/jest/src/migrations/update-15-8-0/__snapshots__/update-configs-jest-29.spec.ts.snap
@@ -1,6 +1,31 @@
 // Jest Snapshot v1, https://goo.gl/fbAQLP
 
-exports[`Jest Migration - jest 29 update configs should be idempotent 1`] = `
+exports[`Jest Migration - jest 29 update configs should NOT update ts-jest with no globals are preset 1`] = `
+"const nxPreset = require('@nrwl/jest/preset').default;
+module.exports = {
+...nxPreset,
+testMatch: ['**/+(*.)+(spec|test).+(ts|js)?(x)'],
+transform: {
+    '^.+\\\\.(ts|js|html)$': 'ts-jest',
+  },
+resolver: '@nrwl/jest/plugins/resolver',
+moduleFileExtensions: ['ts', 'js', 'html'],
+coverageReporters: ['html'],
+/* TODO: Update to latest Jest snapshotFormat
+ * By default Nx has kept the older style of Jest Snapshot formats
+ * to prevent breaking of any existing tests with snapshots.
+ * It's recommend you update to the latest format.
+ * You can do this by removing snapshotFormat property
+ * and running tests with --update-snapshot flag.
+ * Example: \\"nx affected --targets=test --update-snapshot\\"
+ * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
+ */
+snapshotFormat: { escapeString: true, printBasicPrototype: true }
+};
+"
+`;
+
+exports[`Jest Migration - jest 29 update configs should add snapshot config with no root preset 1`] = `
 "/* eslint-disable */
 export default {
 displayName: 'my-lib',
@@ -19,7 +44,7 @@ coverageDirectory: '../../coverage/libs/my-lib',
  * It's recommend you update to the latest format.
  * You can do this by removing snapshotFormat property
  * and running tests with --update-snapshot flag.
- * Example: \\"nx test my-lib --update-snapshot\\"
+ * Example: From within the project directory, run \\"nx test --update-snapshot\\"
  * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
  */
 snapshotFormat: { escapeString: true, printBasicPrototype: true }
@@ -27,7 +52,7 @@ snapshotFormat: { escapeString: true, printBasicPrototype: true }
 "
 `;
 
-exports[`Jest Migration - jest 29 update configs should be idempotent 2`] = `
+exports[`Jest Migration - jest 29 update configs should add snapshot config with no root preset 2`] = `
 "module.exports = {
 transform: {
   '^.+\\\\\\\\.[tj]sx?$': ['ts-jest', {
@@ -50,7 +75,7 @@ preset: '../../jest.preset.js',
  * It's recommend you update to the latest format.
  * You can do this by removing snapshotFormat property
  * and running tests with --update-snapshot flag.
- * Example: \\"nx test my-lib --update-snapshot\\"
+ * Example: From within the project directory, run \\"nx test --update-snapshot\\"
  * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
  */
 snapshotFormat: { escapeString: true, printBasicPrototype: true }
@@ -58,6 +83,44 @@ snapshotFormat: { escapeString: true, printBasicPrototype: true }
 "
 `;
 
+exports[`Jest Migration - jest 29 update configs should be idempotent 1`] = `
+"/* eslint-disable */
+export default {
+  displayName: 'my-lib',
+  preset: '../../jest.preset.js',
+  globals: {  },
+  transform: {
+    '^.+\\\\\\\\.[tj]sx?$': ['ts-jest', {
+      tsconfig: '<rootDir>/tsconfig.spec.json',
+    }]
+  },
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx'],
+  coverageDirectory: '../../coverage/libs/my-lib'
+};
+"
+`;
+
+exports[`Jest Migration - jest 29 update configs should be idempotent 2`] = `
+"module.exports = {
+transform: {
+  '^.+\\\\\\\\.[tj]sx?$': ['ts-jest', {
+        tsconfig: '<rootDir>/tsconfig.spec.json' 
+    }]
+},
+// I am a comment and shouldn't be removed
+moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html'],
+globals: { something: 'else',
+abc: [1234, true, {abc: 'yes'}] },
+/**
+ * Multi-line comment shouldn't be removed
+ */
+displayName: 'jest',
+testEnvironment: 'node',
+preset: '../../jest.preset.js'
+};
+"
+`;
+
 exports[`Jest Migration - jest 29 update configs should update globalThis.ngJest.teardown to testEnvironmentOptions  1`] = `
 "globalThis.ngJest = {
    
@@ -75,16 +138,6 @@ moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html'],
 displayName: 'jest',
 testEnvironment: 'node',
 preset: '../../jest.preset.js',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test jest-preset-angular --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true },
 testEnvironmentOptions: { teardown: true }, 
 };"
 `;
@@ -97,57 +150,37 @@ globalThis.ngJest = {
 }
 
 module.exports = {
-globals: {  },
-transform: {
+  globals: {  },
+  transform: {
     '^.+.(ts|mjs|js|html)$': ['jest-preset-angular', {
       tsconfig: '<rootDir>/tsconfig.spec.json',
       stringifyContentPathRegex: '\\\\.(html|svg)$',
     }],
   },
-moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html'],
-testEnvironmentOptions: {
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html'],
+  testEnvironmentOptions: {
   blah: 123,
    teardown: false
   },
-displayName: 'jest',
-testEnvironment: 'node',
-preset: '../../jest.preset.js',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test jest-preset-angular --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+  displayName: 'jest',
+  testEnvironment: 'node',
+  preset: '../../jest.preset.js',
 };"
 `;
 
 exports[`Jest Migration - jest 29 update configs should update jest.config.ts 1`] = `
 "/* eslint-disable */
 export default {
-displayName: 'my-lib',
-preset: '../../jest.preset.js',
-globals: {  },
-transform: {
+  displayName: 'my-lib',
+  preset: '../../jest.preset.js',
+  globals: {  },
+  transform: {
     '^.+\\\\\\\\.[tj]sx?$': ['ts-jest', {
       tsconfig: '<rootDir>/tsconfig.spec.json',
     }]
   },
-moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx'],
-coverageDirectory: '../../coverage/libs/my-lib',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test my-lib --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx'],
+  coverageDirectory: '../../coverage/libs/my-lib'
 };
 "
 `;
@@ -168,62 +201,118 @@ abc: [1234, true, {abc: 'yes'}] },
  */
 displayName: 'jest',
 testEnvironment: 'node',
-preset: '../../jest.preset.js',
+preset: '../../jest.preset.js'
+};
+"
+`;
+
+exports[`Jest Migration - jest 29 update configs should update root preset 1`] = `
+"
+      const nxPreset = require('@nrwl/jest/preset').default;
+
+      module.exports = {
+...nxPreset,
 /* TODO: Update to latest Jest snapshotFormat
  * By default Nx has kept the older style of Jest Snapshot formats
  * to prevent breaking of any existing tests with snapshots.
  * It's recommend you update to the latest format.
  * You can do this by removing snapshotFormat property
  * and running tests with --update-snapshot flag.
- * Example: \\"nx test my-lib --update-snapshot\\"
+ * Example: \\"nx affected --targets=test --update-snapshot\\"
  * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
  */
 snapshotFormat: { escapeString: true, printBasicPrototype: true }
+}"
+`;
+
+exports[`Jest Migration - jest 29 update configs should update root preset 2`] = `
+"/* eslint-disable */
+export default {
+  displayName: 'my-lib',
+  preset: '../../jest.preset.js',
+  globals: {  },
+  transform: {
+    '^.+\\\\\\\\.[tj]sx?$': ['ts-jest', {
+      tsconfig: '<rootDir>/tsconfig.spec.json',
+    }]
+  },
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx'],
+  coverageDirectory: '../../coverage/libs/my-lib'
 };
 "
 `;
 
-exports[`Jest Migration - jest 29 update configs should work if not using ts-jest transformer 1`] = `
-"export default {
+exports[`Jest Migration - jest 29 update configs should update root preset 3`] = `
+"module.exports = {
 transform: {
-    '^.+\\\\\\\\.[tj]sx?$': 'babel-jest',
-  },
+  '^.+\\\\\\\\.[tj]sx?$': ['ts-jest', {
+        tsconfig: '<rootDir>/tsconfig.spec.json' 
+    }]
+},
+// I am a comment and shouldn't be removed
 moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html'],
+globals: { something: 'else',
+abc: [1234, true, {abc: 'yes'}] },
+/**
+ * Multi-line comment shouldn't be removed
+ */
 displayName: 'jest',
 testEnvironment: 'node',
-preset: '../../jest.preset.js',
+preset: '../../jest.preset.js'
+};
+"
+`;
+
+exports[`Jest Migration - jest 29 update configs should update root preset if ts-jest is preset 1`] = `
+"const nxPreset = require('@nrwl/jest/preset').default;
+module.exports = {
+...nxPreset,
+testMatch: ['**/+(*.)+(spec|test).+(ts|js)?(x)'],
+globals: { something: 'else',
+abc: [1234, true, {abc: 'yes'}] },
+transform: {
+    '^.+\\\\.(ts|js|html)$': ['ts-jest', {
+        tsconfig: '<rootDir>/tsconfig.spec.json' 
+    }],
+  },
+resolver: '@nrwl/jest/plugins/resolver',
+moduleFileExtensions: ['ts', 'js', 'html'],
+coverageReporters: ['html'],
 /* TODO: Update to latest Jest snapshotFormat
  * By default Nx has kept the older style of Jest Snapshot formats
  * to prevent breaking of any existing tests with snapshots.
  * It's recommend you update to the latest format.
  * You can do this by removing snapshotFormat property
  * and running tests with --update-snapshot flag.
- * Example: \\"nx test no-ts-jest --update-snapshot\\"
+ * Example: \\"nx affected --targets=test --update-snapshot\\"
  * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
  */
 snapshotFormat: { escapeString: true, printBasicPrototype: true }
+};
+"
+`;
+
+exports[`Jest Migration - jest 29 update configs should work if not using ts-jest transformer 1`] = `
+"export default {
+  transform: {
+    '^.+\\\\\\\\.[tj]sx?$': 'babel-jest',
+  },
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html']
+  displayName: 'jest',
+  testEnvironment: 'node',
+  preset: '../../jest.preset.js',
 };"
 `;
 
 exports[`Jest Migration - jest 29 update configs should work if not using ts-jest transformer 2`] = `
 "module.exports = {
-transform: {
+  transform: {
     '^.+\\\\\\\\.[tj]sx?$': 'babel-jest',
   },
-moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html'],
-displayName: 'jest',
-testEnvironment: 'node',
-preset: '../../jest.preset.js',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test no-ts-jest --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html']
+  displayName: 'jest',
+  testEnvironment: 'node',
+  preset: '../../jest.preset.js',
 };"
 `;
 
@@ -261,79 +350,49 @@ abc: [1234, true, {abc: 'yes'}] },
 
 exports[`Jest Migration - jest 29 update configs should work with jest-preset-angular 1`] = `
 "export default {
-globals: {  },
-transform: {
+  globals: {  },
+  transform: {
     '^.+.(ts|mjs|js|html)$': ['jest-preset-angular', {
       tsconfig: '<rootDir>/tsconfig.spec.json',
       stringifyContentPathRegex: '\\\\.(html|svg)$',
     }],
   },
-moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html'],
-displayName: 'jest',
-testEnvironment: 'node',
-preset: '../../jest.preset.js',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test jest-preset-angular --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html']
+  displayName: 'jest',
+  testEnvironment: 'node',
+  preset: '../../jest.preset.js',
 };"
 `;
 
 exports[`Jest Migration - jest 29 update configs should work with jest-preset-angular 2`] = `
 "module.exports = {
-globals: {  },
-transform: {
+  globals: {  },
+  transform: {
     '^.+.(ts|mjs|js|html)$': ['jest-preset-angular', {
       tsconfig: '<rootDir>/tsconfig.spec.json',
       stringifyContentPathRegex: '\\\\.(html|svg)$',
     }],
   },
-moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html'],
-displayName: 'jest',
-testEnvironment: 'node',
-preset: '../../jest.preset.js',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test jest-preset-angular --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx', 'html']
+  displayName: 'jest',
+  testEnvironment: 'node',
+  preset: '../../jest.preset.js',
 };"
 `;
 
 exports[`Jest Migration - jest 29 update configs should work with multiple projects + configs 1`] = `
 "/* eslint-disable */
 export default {
-displayName: 'my-lib',
-preset: '../../jest.preset.js',
-globals: {  },
-transform: {
+  displayName: 'my-lib',
+  preset: '../../jest.preset.js',
+  globals: {  },
+  transform: {
     '^.+\\\\\\\\.[tj]sx?$': ['ts-jest', {
       tsconfig: '<rootDir>/tsconfig.spec.json',
     }]
   },
-moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx'],
-coverageDirectory: '../../coverage/libs/my-lib',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test my-lib --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx'],
+  coverageDirectory: '../../coverage/libs/my-lib'
 };
 "
 `;
@@ -354,17 +413,7 @@ abc: [1234, true, {abc: 'yes'}] },
  */
 displayName: 'jest',
 testEnvironment: 'node',
-preset: '../../jest.preset.js',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test my-lib --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+preset: '../../jest.preset.js'
 };
 "
 `;
@@ -372,26 +421,16 @@ snapshotFormat: { escapeString: true, printBasicPrototype: true }
 exports[`Jest Migration - jest 29 update configs should work with multiple projects + configs 3`] = `
 "/* eslint-disable */
 export default {
-displayName: 'another-lib',
-preset: '../../jest.preset.js',
-globals: {  },
-transform: {
+  displayName: 'another-lib',
+  preset: '../../jest.preset.js',
+  globals: {  },
+  transform: {
     '^.+\\\\\\\\.[tj]sx?$': ['ts-jest', {
       tsconfig: '<rootDir>/tsconfig.spec.json',
     }]
   },
-moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx'],
-coverageDirectory: '../../coverage/libs/another-lib',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test another-lib --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+  moduleFileExtensions: ['ts', 'tsx', 'js', 'jsx'],
+  coverageDirectory: '../../coverage/libs/another-lib'
 };
 "
 `;
@@ -412,17 +451,7 @@ abc: [1234, true, {abc: 'yes'}] },
  */
 displayName: 'jest',
 testEnvironment: 'node',
-preset: '../../jest.preset.js',
-/* TODO: Update to latest Jest snapshotFormat
- * By default Nx has kept the older style of Jest Snapshot formats
- * to prevent breaking of any existing tests with snapshots.
- * It's recommend you update to the latest format.
- * You can do this by removing snapshotFormat property
- * and running tests with --update-snapshot flag.
- * Example: \\"nx test another-lib --update-snapshot\\"
- * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
- */
-snapshotFormat: { escapeString: true, printBasicPrototype: true }
+preset: '../../jest.preset.js'
 };
 "
 `;
diff --git a/packages/jest/src/migrations/update-15-8-0/update-configs-jest-29.spec.ts b/packages/jest/src/migrations/update-15-8-0/update-configs-jest-29.spec.ts
index f006df5eb3a6f..9bea2ef8bce04 100644
--- a/packages/jest/src/migrations/update-15-8-0/update-configs-jest-29.spec.ts
+++ b/packages/jest/src/migrations/update-15-8-0/update-configs-jest-29.spec.ts
@@ -35,6 +35,86 @@ describe('Jest Migration - jest 29 update configs', () => {
     expect(actualJestConfigJs).toMatchSnapshot();
   });
 
+  it('should update root preset', async () => {
+    await setup(tree, 'my-lib');
+    await updateConfigsJest29(tree);
+
+    const actualPreset = tree.read('jest.preset.js', 'utf-8');
+    expect(actualPreset).toMatchSnapshot();
+    const actualJestConfigTs = tree.read('libs/my-lib/jest.config.ts', 'utf-8');
+    expect(actualJestConfigTs).toMatchSnapshot();
+    const actualJestConfigJs = tree.read('libs/my-lib/jest.config.js', 'utf-8');
+    expect(actualJestConfigJs).toMatchSnapshot();
+  });
+
+  it('should update root preset if ts-jest is preset', async () => {
+    await setup(tree, 'my-lib');
+    tree.write(
+      'jest.preset.js',
+      `const nxPreset = require('@nrwl/jest/preset').default;
+module.exports = {
+  ...nxPreset,
+  testMatch: ['**/+(*.)+(spec|test).+(ts|js)?(x)'],
+  globals: { 
+    'ts-jest': {
+        tsconfig: '<rootDir>/tsconfig.spec.json' 
+    },
+    something: 'else',
+    abc: [1234, true, {abc: 'yes'}]
+  },
+  transform: {
+    '^.+\\.(ts|js|html)$': 'ts-jest',
+  },
+  resolver: '@nrwl/jest/plugins/resolver',
+  moduleFileExtensions: ['ts', 'js', 'html'],
+  coverageReporters: ['html'],
+};
+`
+    );
+
+    await updateConfigsJest29(tree);
+
+    const actualPreset = tree.read('jest.preset.js', 'utf-8');
+    expect(actualPreset).toMatchSnapshot();
+  });
+
+  it('should NOT update ts-jest with no globals are preset', async () => {
+    await setup(tree, 'my-lib');
+    tree.write(
+      'jest.preset.js',
+      `const nxPreset = require('@nrwl/jest/preset').default;
+module.exports = {
+  ...nxPreset,
+  testMatch: ['**/+(*.)+(spec|test).+(ts|js)?(x)'],
+  transform: {
+    '^.+\\.(ts|js|html)$': 'ts-jest',
+  },
+  resolver: '@nrwl/jest/plugins/resolver',
+  moduleFileExtensions: ['ts', 'js', 'html'],
+  coverageReporters: ['html'],
+};
+`
+    );
+
+    await updateConfigsJest29(tree);
+
+    const actualPreset = tree.read('jest.preset.js', 'utf-8');
+    expect(actualPreset).toMatchSnapshot();
+  });
+
+  it('should add snapshot config with no root preset', async () => {
+    await setup(tree, 'my-lib');
+
+    tree.delete('jest.preset.js');
+
+    await updateConfigsJest29(tree);
+
+    const actualJestConfigTs = tree.read('libs/my-lib/jest.config.ts', 'utf-8');
+    expect(actualJestConfigTs).toMatchSnapshot();
+    const actualJestConfigJs = tree.read('libs/my-lib/jest.config.js', 'utf-8');
+    expect(actualJestConfigJs).toMatchSnapshot();
+  });
+
   it('should work with multiple projects + configs', async () => {
     await setup(tree, 'my-lib');
     await setup(tree, 'another-lib', projectGraph);
diff --git a/packages/jest/src/migrations/update-15-8-0/update-configs-jest-29.ts b/packages/jest/src/migrations/update-15-8-0/update-configs-jest-29.ts
index 316cd0397a2c6..369750da33bfd 100644
--- a/packages/jest/src/migrations/update-15-8-0/update-configs-jest-29.ts
+++ b/packages/jest/src/migrations/update-15-8-0/update-configs-jest-29.ts
@@ -10,8 +10,11 @@ import { tsquery } from '@phenomnomnominal/tsquery';
 import * as ts from 'typescript';
 import { JestExecutorOptions } from '../../executors/jest/schema';
 import { forEachExecutorOptionsInGraph } from '@nrwl/workspace/src/utilities/executor-options-utils';
+import { findRootJestPreset } from '../../utils/config/find-root-jest-files';
 
 export async function updateConfigsJest29(tree: Tree) {
+  const rootPreset = findRootJestPreset(tree);
+  const targetsWithJest = new Set<string>();
   // have to use graph so the negative configuration targets are expanded
   const graph = await createProjectGraphAsync();
   forEachExecutorOptionsInGraph<JestExecutorOptions>(
@@ -19,18 +22,31 @@ export async function updateConfigsJest29(tree: Tree) {
     '@nrwl/jest:jest',
     (options, projectName, targetName) => {
       if (options.jestConfig && tree.exists(options.jestConfig)) {
-        addSnapshotOptionsToConfig(
-          tree,
-          options.jestConfig,
-          projectName,
-          targetName
-        );
+        targetsWithJest.add(targetName);
+        // if the default root preset exists or if the project doesn't have a 'preset' configured
+        //  -> update snapshot config
+        if (!rootPreset || !hasPresetConfigured(tree, options.jestConfig)) {
+          addSnapshotOptionsToConfig(
+            tree,
+            options.jestConfig,
+            `From within the project directory, run "nx test --update-snapshot"`
+          );
+        }
         updateTsJestOptions(tree, options.jestConfig);
         updateNgJestOptions(tree, options.jestConfig);
       }
     }
   );
 
+  if (rootPreset && tree.exists(rootPreset)) {
+    const cmd = `"nx affected --targets=${Array.from(targetsWithJest).join(
+      ','
+    )} --update-snapshot"`;
+    addSnapshotOptionsToConfig(tree, rootPreset, cmd);
+    updateTsJestOptions(tree, rootPreset);
+    updateNgJestOptions(tree, rootPreset);
+  }
+
   await formatFiles(tree);
   logger.info(stripIndents`NX Jest Snapshot format changed in v29.
 By default Nx kept the older style to prevent breaking of existing tests with snapshots.
@@ -43,8 +59,7 @@ More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format`);
 function addSnapshotOptionsToConfig(
   tree: Tree,
   configPath: string,
-  projectName: string,
-  targetName: string
+  updateSnapshotExample: string
 ) {
   const config = tree.read(configPath, 'utf-8');
   const hasSnapshotOptions = tsquery.query(
@@ -66,7 +81,7 @@ ${node.properties.map((p) => getNodeWithComments(config, p)).join(',\n')},
  * It's recommend you update to the latest format.
  * You can do this by removing snapshotFormat property
  * and running tests with --update-snapshot flag.
- * Example: "nx ${targetName} ${projectName} --update-snapshot"
+ * Example: ${updateSnapshotExample}
  * More info: https://jestjs.io/docs/upgrading-to-jest29#snapshot-format
  */
 snapshotFormat: { escapeString: true, printBasicPrototype: true }
@@ -78,6 +93,17 @@ snapshotFormat: { escapeString: true, printBasicPrototype: true }
   tree.write(configPath, updatedConfig);
 }
 
+function hasPresetConfigured(tree: Tree, configPath: string): boolean {
+  const contents = tree.read(configPath, 'utf-8');
+
+  return (
+    tsquery.query(
+      contents,
+      `${TS_QUERY_JEST_CONFIG_PREFIX} > ObjectLiteralExpression PropertyAssignment:has(Identifier[name="preset"])`
+    )?.length > 0
+  );
+}
+
 function updateTsJestOptions(tree: Tree, configPath: string) {
   // query for the globals property, if they don't have one then there's nothing to modify.
   const contents = tree.read(configPath, 'utf-8');