Leave Before Bonus for $40K raise?
I’m currently exploring lateral opportunities and I have the opportunity to secure a new position with a $40K increase to my base. However, I’ve already made it 3/4 through the year and bonuses get paid out in February. My bonuses so far have been around $50Kish. Is it worth sticking out until bonuses are paid before making the switch?
I’d say you have to ask yourself, if this new job is one that is hard to come by. If you can land something similar post your bonus, they I would stay, otherwise take the job.
If this new place is decent and they like you, they’ll pay your bonus upfront as a sign on. If not, you tell them you’re waiting until bonus payout - push timeline? If you’re young-ish, they should understand ~$30k goes a long way in your 20s…. If they don’t, then you ask yourself why you’re moving in the first place and your brain should be able to work out the equation (long term comp, culture, hours, better name, etc.).
Did you ask if they will pay you out?
I haven’t discussed that yet, wanted to get some input first but it seems like the logical next step
Makes sense. I went through a lateral process recently and they offered 100% payout as a signing bonus and said that was standard practice, although I’m sure it depends on the bank. Seemed like generally a good sign for how they approached comp.
If your bonus is paid out in February you are halfway through the year, not 3/4, regardless of what time your HR says the bonus is paid in reference to.
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