Hey folks - found some old topics on this (back in 2013), but can any current 2Ys in business school who recruited for consulting comment on the timing of when signing bonuses are typically paid out?
Based on the feedback from 2013, it appears they are generally paid out within 45 days of signing, so that indicates a payout of late November / early December based on the typical timing of business school recruiting. Does it vary by firm and is Nov. / Dec. typical?
Thanks for your help team!
@John-Doe8" , any thoughts on this? I believe you've done the b school --> consulting track
You are correct, you'll typically have your bonus paid out during the school year and have a choice whether to receive it gross or net of taxes. Net will probably make more sense from a tax situation.
Unless something has changed, Deloitte doesn't give you the full signing bonus up front, some portion of it will come to you when you start.
Awesome, thanks @John-Doe8" , +1 SB for you.
I'm not at Deloitte, but do you have any specifics on the typical timing for the other firms? I'm interning at a "Tier 2" firm, think LEK, Parthenon, ATK (i.e. not Strategy& / Accenture Strategy). I was hoping (from a tax perspective) to have that bonus clear this year (Nov. / Dec. 2016) whether or not I end up with my current firm or a different one from 2Y re-recruiting.
Thanks again for the assist.
Not for any Tier 2 firms. If you want to know about a specific firm, just ask. Someone may be willing to tell you (directly or via PM).
Thanks @John-Doe8" - since I'm not 100% sure I'm going back to the same firm for FT, I was looking for a broader coverage across those firms, but I now appreciate that its widely varied with Strategy& as the outlier.
Appreciate the assistance from both you and @Hillary2016" .
Depends on the firm. Strategy& is their infinite wisdom decided to not give their signing bonus until the first paycheck when you start working full time, and blew up the budgets of quite a few classmates. Most give you atleast half within 6-8 weeks. Some let you choose which tax year you want you bonus.
Deloitte gives you $37k out your $52k signing/relocation (assuming you're a returning intern), 6 weeks after signing. So you generally get it in October/November.
Also keep in mind, some firms structure it as a 0% loan that doesn't become compensation for tax purposes until you start working. So you'll get a lump sum of $25-37k in the fall, but won't pay any taxes on it that tax year.
TL;DR: Varies widely by firm
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