Likely leaving my IBD seat early for buyside after my first year is up. Do banks typically enforce clawbacks on EOY and signing bonuses? Thanks for any info
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Signing and Relocation, 100% of the time yes. EOY stub not usually unless specifically outlined. Throw your contract in ChatGPT and ask it.
Haven't personally heard of a bank clawing back the signing bonus. Source - I left 10 months into my stint and know several more who left in under 1 year without being asked for the signing bonus back.
they’re in the offer letter when you sign
Yeah, it's clearly written out, but my bank (BB) hasn't actually asked for it back in the 3 cases I know of.
Same situation, my bank is 50/50
I had to payback my signing bonus and training costs, bonus was all fine
training costs? what?
Highly firm dependent
From experience (myself and friends when I was in banking years ago), if you’re a good leaver there’s a better chance they wouldn’t try. If you went scorched earth then they might.
would just recommend you read your contract carefully and see what it says, and assume that to be your base case. Ideally your new gig can buy you out if needed (which I know some funds like my old shop did)
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