It's that time of year. My question: How much are you going to give your assistant? Was talking to someone at my bank for guidance and they suggested:
Analyst: $100 to $150
Associate: $200
VP: $300
Seemed a bit low, but wanted to do some comps. Interested in what you gave / guidance you were given. Would also be curious to see what more senior levels are giving (I've seen numbers all over the place).
From a culture perspective, I'm also interested in "execution". For example, at a previous bank, the most senior person who had shared that assistant would email all the bankers with the same assistant soliciting contributions with some guidance. There were also different ranges the more senior the assistant and the more senior the banker. My current bank is a bit more hodge podge: up to you to step up and do it yourself.
On a side note:
Canadian banks have October 31 year end so bankers would get their numbers in early December and paid out before the end of the year. U.S. banks have December 31 year ends so bankers get their numbers in January and paid out in February. Doesn't make December feel very festive.
As always, SB's for new info or insightful comments.
I asked the other analysts around the office since I'm a first-year, and basically got a "Why would you give the admins a bonus?". Should I give something and risk being "that guy", or just fall in line with everyone else?
On one hand you def dont wanna show up the other guys and have them give you a cold shoulder; but if the admin really made your life easier and yall have that relationship then I would give something but keep it private.
I'm an associate and gave her $200. I've only been here for like 5 months though. I think $200-$400 for associates is good. A lot will depend on your relationship with your admin, though. I can definitely see some of the VPs / Principals giving significantly more.
Analyst $75 Associate $150 VP $200 MD $500
Small group, she get's around $3,500 total each year.
Perhaps I am just a dick, but I don't really use my admin other than a couple taxi receipts once a month and I'm an associate. Should I really give an assistant 200 bucks for that.
I think of it this way. You'll easily spend that much on a bar tab. In the grand scheme of things, it's nothing to you, but it is probably actually meaningful to them. It builds good will that lasts a long time and when you might be trying to push an expense through that is iffy, they might actually be able to help you with it. Not to mention it makes you feel better, unless you're just a soulless scrooge.
Agree 100%. Besides being nice, admins take care of you. I've started traveling and had my assistant reschedule flights etc. last minute. Assistant has also been good about helping me coordinate senior banker schedules, organizing meeting amenities (food, conference rooms etc.) in other cities. Also sometimes books me in nicer hotel rooms when traveling.
Point taken. I will give her the 200.
$50 - Analyst $200 - VP $500 - Director & Up
Wait - why am I seeing numbers for VP, Director + up here? Am I missing something?
Unless you're a Group Head or MD posting on here, you shouldn't be giving your colleagues that are above your pay grade or higher than you any $, otherwise, you're just showing them up. Makes sense if say you're a VP, and giving your Associate or Analyst some small change.
I think you're confused. The money all goes to administrative assistants.
Just re-read it really slowly, my bad. My brain has been fried with lack of sleep and excessive consumption of alcohol for the last 24 hours.
Fuck that. You gotta kick some up the food chain or you ain't getting shit throughout the rest of the year.
I agree with your previous post, and I'd recommend doing it across the board for people. I've had my own non-shared assistant for a while and give her a Christmas bonus in her paycheck and separately in cash and my case is different, but get used to giving all of your service people a Christmas/Holiday tip. It's not necessary but like you wrote it shouldn't be a lot to you but it means a lot to them, and not just symbolically but it helps put food on their table or gets their kids Christmas presents. And in a non-altruistic sense, it gets you more shit during the year. Doorman, mailman (although they can't accept cash), trashmen (you don't see them unless you move to the burbs), barber/hairdresser, house cleaner, personal trainers and anyone who regularly does a service for you. My wife and I frequent a bar/restaurant and give a Christmas card with cash to the bartenders because we eat at the bar all the time-best annual investment ever. We're not assholes and don't do this but they've offered to ask people to leave so we could sit, and I've texted them on our way in and they'll save seats at the bar and not let anyone else sit there (and they don't normally reserve bar seats, or give out their phone #'s). We give the trashmen a card with cash and a case of beer and I'm pretty sure I could throw out a Toyota and they'd take it away.
I'd tier it like this: Analyst $50-100 Associate $150-200 VP $250-350 Director or Above (or however the firm does similar titles): $500+
If your Admin has done you right, throw in something a bit more personal as well that goes above and beyond. If you want to try and get in their good graces, go with something simple and fairly appreciable. Even if it's something like a nice bottle of reasonably priced wine or a bottle of her favorite brand of liquor, it's a small gesture that gets you in their good graces.
ah shit, good thing this reminded me.
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