Returning Relocation and Sign on Bonuses
IB
Tags:
(Senior Chimp, 17
Points)
on 7/23/08 at 11:43am
Hi All,
I haven't seen a previous post on this so wanted to get everyone's thoughts on relocation bonuses. If you are a starting analyst but decide not to join (after signing the contract) or if you get fired in this market before you start, are you still expected to repay the bank the relocation bonus that is normally give to you (the $10,000) payment. On most contracts I've seen, it says you have to but I wasn't sure...
Thanks!





well
if you are fired/let go, then you do not have to repay the bonus.
if you leave willingly, then yes, they will enforce the repayment of the bonus including the tax return you will receive in april/may.
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I'm making it up as I go along.