If a IB firm has their bonus given out in August then what happens if you accepted a PE offer and the start date is before the 2nd year IB bonus is given out? Are you fucked or does the PE firm pay out an additional bonus to cover that? Not in the position right now but just curious.
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No, what happens is that your 2 year analyst stint has an end date, ie you have to be renewed to continue on as an associate or analyst 3. What usually happens is that those headed to PE do not renew and they leave at the end of June. They are still eligible for their bonuses that are paid out in August if they have completed the program.
Interesting. Does not renewing affect your bonus #? If those that leave PE in June but don’t get their payout in IB until August, so that means I would still get my bonus no matter what?
At my bank, it does not. We often have people leave in March / April, and they get a pro-rated bonus. They won’t get top bucket, but they’ll get a fair number.
I would assume it has to be a bank that is open to exit opps right? From what I understand GS is one of those that gets unhappy if you leave and I would assume they wouldn’t give you a bonus. My assumption can be wrong tho.
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