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Some fresh kicks, a few suits and a trip to AC - obviously can't ball out hardbody, but still kinda exciting.

How did/are you going to blow your signing bonus?

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Comments (18)

  • jonnyseed's picture

    Well I'm not in IB or on Wall St, so I haven't gotten a big bonus yet in my career, but I can say that after I got my first year-end bonus, I blew it in similar fashion.

    Traveled to visit my friends from college on the weekends in a few weekends: 3 trips, about $600 airfare total, about $100 spending cash total (Since I visited my friends usually payed for the tab)

    Significantly upgraded my wardrobe: A couple suits for $600 total, about $300 at Banana Republic, and about $300 at J Crew, Couple pairs of shoes from Jos A Bank for $200

    Xbox360 and games: $500 total

    My bonus was about 2k after tax, so I went a little bit over that, but since I'm young and have some savings, I could afford it.

  • CompBanker's picture

    Store a small portion of it if you don't have any savings built up. If you do -- hop on some planes and travel. Buy a nice gift for your girlfriend (you're about to fall off the face of the earth for two years). If you don't have one, purchase a nice big TV for your apt. Use the rest to improve your general lifestyle - nicer dinners, take taxi's instead of public transportation, few nicer clothes, etc.

    I wouldn't recommend blowing it on a single large purchase. I know a guy who purchased a new BMW months in advance of receiving his bonus. When bonus time came, he regretted having to give it all back to the car dealership while the rest of us were able to blow the cash.

    CompBanker

  • In reply to cartman
    yellowpunch's picture

    noway:
    hmm i thought your signing bonus is part of your first pay check, aka you don't get it until you're already working?

    It depends and usually the contract says when you'll get your signing bonus

  • In reply to cartman
    CompBanker's picture

    noway:
    hmm i thought your signing bonus is part of your first pay check, aka you don't get it until you're already working?
    Depends on the shop. My MM sent it in February / March and said to use it to cover moving expenses etc. Some places include it in your first paycheck.

    CompBanker

  • In reply to yellowpunch
    cartman's picture

    yellowpunch:
    noway:
    hmm i thought your signing bonus is part of your first pay check, aka you don't get it until you're already working?

    It depends and usually the contract says when you'll get your signing bonus


    ah icic thanks
  • PossumBelly's picture

    "fresh kicks" "trips to ac". "ball out hardbody"? Do they give bonuses at Rutgers now?

    Be sure to help "ya moms" and invest in things that can't fail, like restaurants, night clubs, and record labels.

  • In reply to cartman
    jonnyseed's picture

    noway:
    hmm i thought your signing bonus is part of your first pay check, aka you don't get it until you're already working?

    You're right. I actually completely overlooked the "signing" part and thought he was speaking of first bonus in general. My year-end was part guaranteed for me signing, but I guess not officially a signing bonus.

  • 2x2Matrix's picture

    +1 on everything compbanker said: save at least some if you don't have much saved yet, then spread most of it out so your overall quality of life is better. you'll get the biggest return on it if you improve multiple aspects of your lifestyle.

    of course, the signing bonus in one of my offers was split 50-50 between when you sign and your first paycheck, so you might not even have the option of blowing it all at once.

    One of those lights, slightly brighter than the rest, will be my wingtip passing over.

  • guest007's picture

    How about a 401k plan?

  • MissingNo.'s picture

    Pay off the ludicrous amount of debt accrued to this point?

    Still not sure if I want to spend the next 30+ years grinding away in corporate finance and the WSO dream chase or look to have enough passive income to live simply and work minimally.

  • In reply to cartman
    snooki212's picture

    noway:
    hmm i thought your signing bonus is part of your first pay check, aka you don't get it until you're already working?

    My bank (BB) is paying them out next spring. Its going to be taxed about 50% so there isn't much to blow/save

  • dublin's picture

    came with first paycheck for me, wish they had told me that beforehand though...offer letter said 'prior to your start date', and i asked a couple of times in between and was told 'soon' or 'at least two weeks before you start', etc...

  • bulge4lyf's picture

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    I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

  • Anonymous1's picture
  • streetlegend's picture

    Let n be a fixed positive integer greater than 1...