Signing Bonus
(Chimp, 13
Points)
on 1/6/13 at 3:34pm
So as signing bonuses for IBD start to roll in. What are some of you guys planning on doing with it?





Unless you're an associate,
Unless you're an associate, it will barely cover your security deposit + first month's rent on an apartment.
Investing the money's too risky imo.
What exactly do you mean by "doing with it?"
^ Truth. Say your signing
^ Truth. Say your signing bonus is $10k pretax, after tax that's around $7500. If you're in NYC, you'll often be paying 2 months rent, security deposit, broker's fee, and moving expenses before you get your first paycheck. Even if you chose a cheap NYC apartment, that's still going to be a significant chunk of your signing bonus... so don't bank on using those funds to bankroll your pre-graduation globehopping adventures.
If you're in a region with better COL, then carry on.
when i started at GS/MS NYC
when i started at GS/MS NYC my after tax signing bonus was more like 6K (10K pretax) - note that signing bonus is taxed like a bonus i.e. much higher than regular salary. you should use this for your first month's rent/deposit/fee, since you will need to pay all of those things before you have received your first real paycheck
ricottacheese: when i started
when i started at GS/MS NYC my after tax signing bonus was more like 6K (10K pretax) - note that signing bonus is taxed like a bonus i.e. much higher than regular salary. you should use this for your first month's rent/deposit/fee, since you will need to pay all of those things before you have received your first real paycheck
im pretty sure this is correct. from my understanding my signing bonus (when i receive it) will be taxed the same as performance bonus, roughly ~40%
also for incoming first years, what bonus do you think we'll get? i was told based off of this years for 1st years i should expect 50k-60k from the head of my office
I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG
AnalystMonkey2769: ricottac
when i started at GS/MS NYC my after tax signing bonus was more like 6K (10K pretax) - note that signing bonus is taxed like a bonus i.e. much higher than regular salary. you should use this for your first month's rent/deposit/fee, since you will need to pay all of those things before you have received your first real paycheck
im pretty sure this is correct. from my understanding my signing bonus (when i receive it) will be taxed the same as performance bonus, roughly ~40%
also for incoming first years, what bonus do you think we'll get? i was told based off of this years for 1st years i should expect 50k-60k from the head of my office
Typically you will receive your signing bonus with your first pay check, not before. It's a minimum of 7 months before 1st year bonuses are handed out so nobody can really tell yet. Basically if you get over 30k pretax, be happy.
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Asatar: AnalystMonkey2769:
when i started at GS/MS NYC my after tax signing bonus was more like 6K (10K pretax) - note that signing bonus is taxed like a bonus i.e. much higher than regular salary. you should use this for your first month's rent/deposit/fee, since you will need to pay all of those things before you have received your first real paycheck
im pretty sure this is correct. from my understanding my signing bonus (when i receive it) will be taxed the same as performance bonus, roughly ~40%
also for incoming first years, what bonus do you think we'll get? i was told based off of this years for 1st years i should expect 50k-60k from the head of my office
Typically you will receive your signing bonus with your first pay check, not before. It's a minimum of 7 months before 1st year bonuses are handed out so nobody can really tell yet. Basically if you get over 30k pretax, be happy.
ya true i get my signing bonus they said w/1st paycheck. but really, 30k pretax? i think thats super low judging from the people i've been talking to past 12 months. i personally know people at MMs that told me 45k, 50k and 55k for performance bonus..
I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG
AnalystMonkey2769: Asatar:
when i started at GS/MS NYC my after tax signing bonus was more like 6K (10K pretax) - note that signing bonus is taxed like a bonus i.e. much higher than regular salary. you should use this for your first month's rent/deposit/fee, since you will need to pay all of those things before you have received your first real paycheck
im pretty sure this is correct. from my understanding my signing bonus (when i receive it) will be taxed the same as performance bonus, roughly ~40%
also for incoming first years, what bonus do you think we'll get? i was told based off of this years for 1st years i should expect 50k-60k from the head of my office
Typically you will receive your signing bonus with your first pay check, not before. It's a minimum of 7 months before 1st year bonuses are handed out so nobody can really tell yet. Basically if you get over 30k pretax, be happy.
ya true i get my signing bonus they said w/1st paycheck. but really, 30k pretax? i think thats super low judging from the people i've been talking to past 12 months. i personally know people at MMs that told me 45k, 50k and 55k for performance bonus..
I believe the $30K he was referring to was for a stub bonus, not a full 12 mos.
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
I believe the $30K he was
I believe the $30K he was referring to was for a stub bonus, not a full 12 mos.[/quote]
Mis-read it. you're correct, my b
I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG
I'll be in Chicago. We got it
I'll be in Chicago. We got it last month and was taxed at 40% but expect that a lot of is coming back from tax returns as well.