Comp package for A1 lateral?
I'm in a top coverage group at a mid-tier BB (think BARC, Citi, CS), keep getting hit up by headhunters and curious what a total comp package would look like if I were to lateral?
Do they give bonuses for lateraling? Do they make you whole on your annual bonus if you leave before ending your first year and if so, do they pay you what you would have gotten at your old firm or what they offer at the new firm? Will they promise higher overall comp because your are an experienced higher?
Just curious how much more one could make by doing this.
bump
Just lateraled. I got a “signing bonus” equivalent of the one of my old bank (sucks because new banks signing bonus is usually 2x the old banks). Had to provide old offer letter with clawback stipulations and proof of them requesting the money back. Bank says I’m eligible for a full year bonus but I’m expecting I’ll be screwed over but I think losing 30-50k is well worth it considering the move I made (think HSBC -> GS)
Doubt you’ll really make any money in the short term unless you end up at CVP/EVR where the bonuses are well above street.
Yeah i think the make-whole for bonus clawback is pretty standard to negotiate for. On the full-year bonus - I believe Goldman pays in summer, so you should definitely get something, especially if they told you that you would. It’s only February - I would totally expect to receive a full-year bonus.
Did you receive the full year bonus? Wondering if they honored your lateral comp agreement
I got ~40k and they paid my signing bonus back. They also paid me for 1 month while I wasn’t working (FINRA stuff). More importantly, I didn’t have to repeat a year although I did move from a 2 year program to 3 years and then went A2A.
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