Jumped ship earlier this year and asked the new shop to lateral me in for 2021 (they agreed but had never put things on paper. I guess this is a big fucking lesson I learnt). The actual bonus/FY comp turned out to be much less than if I had stayed at my prior role for calendar 2021. My life so far not bad at my new role but just pissed. Am I over-reacting?
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Did you structure a sign-on bonus at the new shop that would make up for the money you left on the table at the previous shop? If not, then yes - that sucks. Personally, I don't think this is a huge issue - although beginning a relationship with the context of not delivering what is promised isn't the best way to start. Did you address this directly and bring up the fact that the verbal offer did not reconcile with what you received? If not, I would do so in a tactful manner.
For now just sit and wait/observe. If you notice larger inconsistencies and red flags on a consistent basis - run.
I truly appreciate your comments dude. I might have to take this bullet for now and just learn this the hard way while looking for buy-side exits at the same time. What they told me really was a forward looking statement 😂 I guess but they got me cheap.
Not sure I’m following, you switched firms, the bonus is discretionary (unless in writing) and determined by your and the firm’s performance. Was your bonus at your new place out of line with your peers at the new place? If not, that’s sort of how it works, you take a bet on the firm, if your old firm did better those VPs got paid more. Maybe I’m misunderstanding your situation.
I am a top performer under a top analyst, might have to gut it. Plus I told them what I used to get paid (I am using last years number to compare) to ensure lateral.
I don't know what all other folks got but surely lower than the few I know. Making me think they prorated my bonus but they did not admit, which really generate uncertainty.
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