As the title notes. I recently received an A2A promote and as such will be changing from a 6/30 year end period to the end of year. When I asked HR about details they said I would be moving to an AS1 for the remainder of the year, and will also be an AS1 for all of 2024. Is this normal across the street? I had expected that I would get moved to an AS2 in 2024, not sure the justification for keeping me at the same level for 1.5yrs. Any insight here would be helpful
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Yes that’s how it works. Think of it as you get an extra 6 months of AS pay before starting your real first year as an associate. Your stub bonus next Q1 will also be relatively small so prepare for that.
12/2023: AS 0.5
12/2024: AS 1.5
12/2025: AS 2.5
12/2026: AS 3.5
Q1 2027 -> Promoted to VP
Yes you will be a "stub year Associate" for the remainder of this year, then next year will be your first year as an Associate. Same thing happens to MBA hires. They are stubs for 6 months + 3 full years as Associate. Your stub bonus will be small (40-60k if your bank pays street), but you should be getting a proper bonus right about now so think of your stub bonus as a "top up" you'll get just 6 months after your mid-year 2023 full year bonus.
Is the stub year bonus the equivalent to “promotion bonus” or should these be separate?
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