Bonus clawback - EB Analyst
Hi,
at my EB we have a two years bonus clawback (i.e. if you leave before the second year, you need to give back the first year bonus). Do you think is really possible that the bank will ask you the bonus back if you leave, let's say, after 1.5 year? The clawback clause is reasonable on the signign bonus given it's an advanced payment, but the year end bonus it's money that you have earned. Reading on internet, it seems that usually clawback clause on year end bonus applies to top executives who are charged whit misconduct/fraud etc.
Long story short, do you think it's a clause used by the bank to "scare" the analyst so that they don't leave before the two years or they would really use it? (that would mean also take you to court in case you refuse to pay) It just seems a bit excessive to me...
Thanks
Hey jepgambardella, I'm here to break the silence...any of these links help you?:
More suggestions...
You're welcome.
Clawbacks (Originally Posted: 12/18/2008)
So I have been hearing a lot lately about "clawbacks" on bonuses. The idea being that if you leave a firm you have to give back some bonus pay.
However, if you get fired or laid off do you still have to give it back? Or is it only if you leave voluntarily? And if that is the case then if you decide to look for another job and sleep in every day so you get fired then are we not incentivizing people to slough off their work when they think they may have an opportunity to go somewhere else?
We're about to enter a Great Depression. Don't you want a president who's already dressed for it?
that was the best comment i've ever seen on here
in addition to what you mentioned, there are also clawbacks for losing money, not just for leaving.
You guys have a recapture clause in your employment contracts?
Agreed. Great comment by Cornelius...god damn my ex girlfriends
They say some men are really married to their jobs. At least in a situation like this everything is rational unlike ex gf's and their mood swings and bitching and why the hell should i give a 100 per cent when all i hear is nagging! Cornelius, beautiful analogy and i completly agree, when we'll we be able to implement that type of structure in gender relations?
Come to think of it, women will end up acting like they are the employer and telling us they are keeping everything because of the lack of emotional commitment men put them through, it just never works, damn...
Clawback provisions (Originally Posted: 12/23/2008)
Doesn't the clawback provision remind you of the Grinch who stole christmas?
It reminds me of when my girl friend is drunk and is a little sloppy with the teeth.
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