My friend who interned at GS this summer has accepted the GS offer for FT analyst position.
He will be getting $70K for Base, $60 K for Bonus and $20 K for signing bonus.
In this environment is good sign that bonuses are coming back after an absence from last year.
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Is it usual for banks to tell you your bonus when you sign an offer letter ? My offer letter (BB) says a bonus is discretionary and is not guaranteed and doesn't give a figure.
if it's GS IBD... i'm pretty sure GS gives a 10k signing bonus (although this might be different for summer analysts receiving return offers). bonus amount is also not guaranteed in the offer letter.
In nyc, GS gives 10k signing bonus and performance bonus is discretionary so there's no way your friend can actually get that.
I don't buy that. bonus is discretionary and sign on is 10k
sign-on's bumped this year to 20k at the BB's ... along with your regular base by 10k. I don't think they woulda told him his "bonus" is 60k ...
Sign-on's for the class of 2010 was bumped to 20k at BB's for analysts!? Did you hear this or did you actually get this offer? I'll believe it when I see it because that is ludicrous for someone fresh out of undergrad.
pokersliar - Definitely not all BBs at bare minimum; if some BBs did that, great for the analysts. My BB offer was definitely 70+10.
Barclays raised salaries for class of 2009 analysts to 70K base and made it retroactive.
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My BB offer was 70k + 10 signing, haven't heard anyone else mention 20 signing. Have never heard of and wouldn't believe that end of the year bonus is mentioned up front.
I call bullshit
your year-end bonus is discretionary. they won't tell you how much except for when you are getting and etc.
your friend's full of shit.
Your friend is retarded. Goldman's sign-on is 10K as of last week when they gave out offers for FICC.
Goldman pays street for bonus for 1st years. As a result, once street decides what their bonus is, Goldman will decide what their bonus is. Though Goldman usually pushes the envelope with senior staff, with junior people the bonus scale is pretty rigid among BB's unfortunately...
i know at 2 places where sign-on was bumped to 20 - including my group since we just handed the offer letter over
I also got 70k + 10k signing. "Your friend" is definitely full of shit because bonuses are not disclosed in the offer letter so he's probably lying about the signing bonus too. Are you sure he got an offer from GS?
Lol your friend is a liar
poker, which places are those?
Citi is still 70 + 10
All BB's are still 10K signing as standard practice...though I'm guessing there are instances when they increase that number for returning summers or something?
I also got 70 + 10 for BB....ditto the bluf
I can confirm GS/BoA/UBS/Citi also 70k + 10.
I'm assuming all BB's are the same.
Thus... this thread is fail.
PS: Except my BB, my VP told me today I'm getting at least 3 million year end bonus. I said no I will reneg and he caved and said 5 million.
I can confirm GS/MS/Laz/BX are all 70+10k
However, I did hear of BarCap increasing sign on to 15k for returning summers if they signed before a specific period.
All the bulge brackets (GS/MS/BOAML/Citi/UBS/CS) are on the 70k pay scale besides Deutsche Bank, which is still at 60K. However, they get to live in London for a month for free so thats cool
DB is 70/10 from my friend who got an offer there.
My boutique pays 70/10 too
DB is 60K for the literally dozen 1st years I know who currently are 1st years...maybe the offer for next year is different...this is only for sales/trading so maybe banking is different
Everyone I know at a bulge bracket is getting 70/10. Bonus is always discretionary. No bank ever guarantees a 60K bonus.
MS is 70/10 I can confirm
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