Barclays Screws You Over One Last Time on the Way Out
Just found out that - after 2 years of hard labor as an analyst and making it to the buyside - Barclays’ 2 year NYC IB analyst program is seemingly very precisely targeted to be 1 year, 11 months and 2 weeks or so, which very suspiciously lands you 2 weeks shy of 50% of your 401k matching contributions vesting (vs. 25% vesting prior to hitting the 2 year mark). I can’t shake the feeling that Barclays intentionally did this to nickel-and-dime all of us one last time out of a few grand.
No real upshot here just felt like venting / hating on former employer thanks
Guy who replied below me gets no play
The fuck is wrong with you
Yeah, it's an incentive to try and keep people at Barclays. The sellside doesn't want top analysts leaving all the time, but they can't always compete with what the buyside can offer. It's shitty, but it's just how these things go. And as a result, they end up pissing off former employees who could end up bringing business elsewhere, so it's not all a win for them,.
Can confirm this is true
yep, some people at the top, who are making millions, will literally take a candy from a baby just so they can have more. no shame, no regard for others, no empathy.
UBS is even worse. 3 year cliff vesting
This happened to me 2 years ago when I left Barclays and I remember being pissed about it. Also the dog shit 2nd year bonuses. But that’s why you leave Barclays 🤷
Ultimately it is a bit stupid on their end because for the ~$30k they screw you out of it leaves a sour taste in your mouth. If I ever am in a position where I need to hire an investment bank I will do everything in my power to make sure it’s not Barclays.
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