CITI manipulating IB Analysts to return to office with bonuses
As the title says --
CITI keeps on pushing out the bonus timeline in an effort to manipulate analysts to return to the office.
Essentially management has a suspicion that analysts are just waiting on their bonus to bail. This is probably true of those that have a desire to leave as they aren't happy with the company.
The bonus although totally discretionary is a huge chunk of salary and different from most industries. Pushing out the deadline in an effort to get people back in the office/quit before receiving bonuses is not great practice on their behalf.
I've heard from close friends that work in HR that they're incentivizing with a $10K bonus on top of the regular bonus (lol). And they haven't really taken charge like other banks in terms of increasing salaries but are really playing follower and looking to meet market at the minimum (still 85K for first years).
Additionally - in terms of the $25 stipend for working past 7pm. We heard DIRECTLY from HR that this was in response to a fucking LIQUIDITY Instagram post. Jesus christ. Moreover, it takes so much time to process receipts on top of other work that I've heard some bankers complain they'd rather just pay for dinner themselves than have to deal with angry admins chasing them down for ~2 hours of work a week to get those processed. Also this is delivery only - so after a 100 hour work week of not leaving your desk and you decide to take a 15min walk to Chipotle... too fucking bad you can't expense that.
Curious if other banks are doing the same thing of pushing it back?
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wtf are you talking about citi always paid bonuses in august…
Source ? Litquidity?
$15k bump today tho...
Number wasn't confirmed, just that there will be an increase.
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