BAML cancelled IB bonuses?
Saw this on a fin meme account.
Is this true? If so, does that apply to all juniors or everyone else above as well?
Regardless, that’s shitty.
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Heard layoffs for juniors on Fri?
Sounds like some people got 0s and others laid off. Not sure if everyone had a goose egg though
goose egg, fuck
Which fin meme?
Unstructuredcapital and High yield Harry both posted about it. It’s making the rounds
There is almost no way this is true across everyone but wouldn’t be surprised if there were zeroes given out
Fake news. Bonuses will be communicated this Friday for BofA. There will probably be a fair share of very low bonuses (under $40k) given out to associates who they want to leave, since most groups have very high numbers of associates and no way can promote all to VP when their promotion time comes up. Have never heard of them giving $0… I have heard of $10k bonuses before though given to low performing associates in the past.
The above is correct.
Tons of idiot associates at the firm following Covid hiring spree that ask people in product “we’re looking to do a follow on offering for a private company, can you send us your standard pages?” Or “we’re looking to run an LBO analysis on this cash burning business. What terms could we do the debt at?”
If the above sounds like nonsense, that is intentional.
I’m not in IB why is Q1 stupid other than just seeming lazy?
I could see how Q2 is stupid cuz they could have trouble servicing debt but if they have enough cash and are expected to be profitable in, say, NFY+1 why is that unreasonable? Base leverage covenants off of revenue
Maybe their bonus payroll department wanted to set the bar and expectations low so people aren’t as angry if they only get 40k (unlike at Citi and Baird where people were quite upset about 40k)
I’m told it’s important to get sunlight first thing in the morning. Can I get an equivalent benefit from putting the Vault 50 bank guide on my monitor and basking in the prestige?
What were bonus numbers like last year for aso and vps?
analysts were already paid bonuses in august
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