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SendIt's picture

GS Signing Bonus Structure

by SendIt (Monkey, 30 Banana Points Points) on 9/26/08 at 8:02pm

Are IBD signing bonuses generally structured as "advances" on the first stub bonus? Or are they simply no-strings-attached compensation for signing the employment agreement?

I think GS uses the "advance" structure. Would be interested in learning how different banks approach this.

Thanks in advance.

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unct91's picture

people are worried about

by unct91 (Senior Baboon, 195 Banana Points Points) on 9/26/08 at 11:29pm

people are worried about getting jobs, and you're concerned about signing bonuses? lol

CompBanker's picture

I'm not exactly sure how

by CompBanker Certified User(Senior Gorilla, 983 Banana Points Points) on 9/27/08 at 11:24am

I'm not exactly sure how Goldman's signing bonus works, but at my bank, we were paid a lump sum in advance of our start. If we decided to leave in our first year, we would owe back a pro-rated amount. At bonus time, it was not credited against our bonuses, so I wouldn't consider it as an advance, if that's the way you're thinking about it.

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CompBanker

SendIt's picture

Excellent, thanks for the

by SendIt (Monkey, 30 Banana Points Points) on 9/27/08 at 11:46am

Excellent, thanks for the help CompBanker.