I am currently a 1st year analyst at a big BB in New York and have an offer to leave after my two years. If people in my office know im leaving including the senior bankers, will my bonus be affected because they have no need to incentivize me to stay? I performed well and had great reviews but just dont know how bonus season works after your first year given that people know you will not be sticking around for the 3rd year. Thanks!
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You're at a "big" BB?
Interested. What time of the year did you usually get your bonus in previous years?
This is for my first year bonus.
When I was in banking it was usually only during the second year that they gave people staying on better than the people that left. Bonuses were paid after the second year was over, so you were already gone and couldn't complain. Additionally, its risky to just pay somebody more if they don't have a job because 1) maybe they are just private about it 2) does not mean they still won't leave 3) sets the precedent that you actually SHOULD check out once you get a job and 4) you may actually signal to people that should move on that they are more wanted than they really are. Lastly, if you are good, then the people that determine bonuses want you to work for them, so its really a down payment for them to keep you engaged until you leave.
First year should be fine, but next year you may not get paid as well compared to those staying.
I think it's a legitimate concern that your compensation and opportunities suffer if it's known you're leaving.
Assuming you haven't already spilled the beans, why would you?
it is generally accepted in the finance world that you give ZERO days notice before leaving a firm for another job...for this precise reason. If a BB were to fire you or downsize or lay you off, they would also give you ZERO days notice. Whats good for the goose is good for the gander.
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