Do Banks actually claw back A2A sign-on bonuses? Hearing a lot of conflicting replies based on banks. Can someone who has left before the end of a claw-back period opine? How aggressively do the banks chase? I really don't think I can stomach another year.
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If I leave before 2 years I owe back the sign on bonus. Also takes 3 years to become an associate. Well below market pay.
What firm
Following.
Following
Not sure what you're looking for. You already mentioned that there are many conflicting replies because obviously, not every bank is the same. You aren't going to get more clarity than that. You should expect/prepare to pay it back, and if they don't go after you, great - they didn't end up enforcing a contract that you entered in of your own free will.
The other threads have a ton of vague answers like this. I am asking for answers specifically from people who have quit before the end of the claw-back period.
I understand I entered the contract of my own free will and am prepared to pay the bonus back but if banks informally don't enforce claw-back clauses then I would like to know as that will influence some of my decisions. Don't think that's unreasonable.
You're missing the point. Yes, some banks DO go after the bonuses. An MBA associate in my group paid back his signing bonus. But the individual data points are irrelevant to your decision because it's not an industry wide, black and white standard practice. So you will never know if they will or won't go after you. Glad to see you are prepared. But no one here is going to give you certainty as to what will happen.
My former firm (Lazard) made me repay the A2A signing bonus, though I didn't fight it much. Anecdotally, I have heard of others who left and refused to repay their bonus and were able to keep it. Murky topic...
Yeah I've heard at multiple places if you just don't reply you can usually keep the bonus
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