I’m a VP at a BB (been with the firm for a few years now) and I’ve just received an internal transfer offer to a different IB coverage team. I've been trying to make the move for a while, so I’m excited but there’s some uncertainty around what will happen with my bonus. The transfer is happening before bonus season and since it’s an internal transfer, there’s no new contract or anything formal in place. I’ve been putting in a ton of work this year and was expecting a solid bonus, but the opportunity with the new team is really tempting as it might not come around again. That said, I’m worried about the potential impact on my bonus because my current MD (who’s made personality-driven bonus decisions in the past) is furious that I'm transferring. With several people leaving the team already this year, my departure reflects poorly on her leadership, which could make her withhold my bonus or give me a very low payout (she’s done this to people in the past who she wanted to quit).
Has anyone been in a similar situation? How can I ensure my bonus reflects my current team’s performance up until my transfer? Thanks!
Just to clarify: I'm a top performer and would get a max bonus if I stayed
Forgot to add that bonuses are paid out in Q1 and the proposed transfer date is December 15. The new team is really pushing for me to start on the 15th because they’re slammed with work and my concern is that, even if I stick with my current team until bonus payout, my bonus might end up being much lower than I was expecting, despite my strong performance, just because they know I’m leaving
Bonus is usually out of the pool of the prior year p&l, no? I wouldn’t expect anything amazing.
Thanks for the input! That makes sense, but I’m still a bit worried about the possibility of my bonus being much lower or even withheld because of my transfer. Last year, an associate got just £10k because my MD didn't like her and wanted her to quit. I’m worried something similar might happen to me. My MD has made personality-driven decisions in the past and with several people leaving already this year I’m afraid my departure could reflect poorly on her leadership and impact my bonus
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