Covid adjusted bonuses
Curious how people’s bonuses are looking this year. It was my first in the industry (mutual fund) post-mba as a senior analyst bonus was 16k and profit share of 14k... much lower than I had expected as I was told to expect bonuses close to 50% of comp (salary is 130k) and we knocked it out of the park this year. Are people seeing lower bonuses this year?
That is a bit strange, was that prorated? And was the expected bonus including profit sharing? How did the overall firm do? Did you receive any negative feedback?
I’m at a HF so a bit different but from what I’ve seen and from friends in AM I wouldn’t expect bonuses to be any different from previous years (outside of firm getting hit hard or your personal performance being poor).
Did they explicitly say that it was covid adjusted? Given that the performance was good, $16k seems very harsh. I'd speak with the PMs or whoever is in charge.
Assuming you joined in July/August (following the end of your MBA) seems in line with what they told you: ie 65k bonus. Now if you do 5-6 months of this annual bonus it gets you there no?
Thanks for all of your input. I should have clarified that our fiscal year end is June 30th so the bonus was given back in June. It wasn’t prorated as I had been there for a full year. Clearly the landscape has changed somewhat since June but at that time we’d been doing very well AUM was at an all time high (and still is) and our biggest funds were all well ahead of their benchmarks.
It’s obviously too late to fret about it with my manager now. There was some wording in both the bonus and raise letters I got that noted management was concerned about the outlook and focused on improving comp for our account reps and backoffice staff that had to go into the office throughout. Still it felt a bit of a skimp as idle had solid reviews and delivered so quality names that boosted fund performance. Now that it’s bonus season for most I wanted to see what bonuses are looking like elsewhere to have some talking points for my mid-year review.
No impact on bonuses from covid, but can’t say there wouldn’t have been back in the middle of the year when things looked different and I imagine most shops’ management were focused on getting through.
From my experience, the numbers on the bonus seem very low. I don’t know the particulars of your situation or mean to be negative, but I think you definitely want to be looking around at what other places are doing and making sure you’re ok with that.
Not normal at all. This year should be one of the biggest year in terms of bonus. COVID should have helped not hurt bonus/profit. 16k is way too low.
Quae impedit in voluptatem ab. Beatae vel placeat distinctio ut reiciendis.
Est enim officia odio numquam odit. Consequatur iure et sapiente accusantium neque. Et laboriosam aliquid tempora sint et.
Et qui officia quidem pariatur. Et aut sunt sequi magnam eaque nisi. Velit omnis praesentium placeat non exercitationem placeat eos. Eligendi quod consequatur omnis ea nam atque. At est omnis architecto labore.
Accusantium officia odio laborum. Voluptas quaerat ea facilis est consequatur quia saepe. Nihil omnis incidunt fuga autem omnis ipsa ullam repudiandae. Vel quo eum distinctio nam ullam culpa quis velit. Nostrum perferendis mollitia recusandae sequi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...