Fired grad
After a few month having a very difficult relationship with my line manager I've reached a point where I'm no longer putting up with shit and leaving everyday by 9pm regardless of whether there is still work to be done. As a result, I'm pretty sure they will point me to the door sooner than later. Given my current situation, I really don't mind... and I have a couple of business ideas to chase when this happens.
But I was wondering, when they actually fire me:
Will I need to give back my sign-on bonus? Will they need to pay me any compensation?
You will need to give back your signing bonus. Depending on how they fire you, you may receive additional comp and be entitled to UI.
Have you lined up a new job? I recommend starting the search now while you still have one.
You in ER? WTF is a line manager? Sounds like something at a restaurant.
I think you will need to repay your sign on and they will probably need to pay you for a few week, you definitely can get unemployment insurance.
Here we go:
http://www.labor.ny.gov/ui/claimantinfo/beforeyouapplyfaq.shtm#0
1.) Need two separate quarters that you've worked in- IE,. you need 4 months of work. 2.) You cannot leave voluntarily. This would include you opting to quit when they offer you the opportunity to resign rather than be fired. 3.) They cannot find cause to fire you. Cause would include insubordination, failure to follow certain rules that they give you, any illegal activity, chronic lateness, etc. Anything obvious. But if they are keeping you after 9 but you do not wish to work after then, I am not sure they can fire you for that. In particular, there might be some sort of 40-hour-work-week rule specifically excluding that as a cause for firing.
In reality, I'd try and be nice to your manager and not go out of your way to encourage him to fire you. Some managers take a really hard line even with employees who are doing what they see as a good job. This is especially true when you're a recent grad doing your first job- it's very hard to tell. You may, to your surprise, make it all the way to your first review, find out you're doing satisfactory, and life will move on. In fact, if all that you are seeing is yelling and not specific instances where he thinks you're screwing up badly in that you can't see in any other analyst- I would say you are probably doing just fine and he is just a tough manager that you will need to "train" over the next two years if you're willing to put up with him.
Which bank is this? Didn't you notice at the interviews he is a jerk?
Dude, that's an awful tough thing for a college kid to figure out in a half-hour interview. Identifying good managers is a bit of a trial-and-error game, and this is one error that the OP will be careful about making in the future.
I left before a year was up, was part of an IB class, did not have to give back my signing bonus.
Perhaps SAC, but you plan your contingencies on the worst-case. I know two people who had to suffer clawbacks. If it's in the contract, I'd be careful.
Given his name is 'UKtop,' I'm not sure New York state law is that relevant.
Re original questions, most contracts i've seen have a clause saying 'if you leave within a year you must give back your signing bonus.' So if you've only been there a few months, you may be out of luck.
Did you choose this group?
I didn't interview with or choose the group. The common practice is that you get "allocated", so as you can imagine it's a huger grad lottery with winners and losers.
Given that the future looks gloom I guess I will just suck it up until I have another job lined up and then quit instead of getting fired.
usually if your terminated you dont have to pay back the bonus, repayment for signing bonus/relocation costs are usually required if you voluntarily leave within a specified period of time.
Just resign yourself.. resign now and be a hero
Employment at banks in NY is "at will", which means that they can fire you at any time essentially without cause and you can quit at any time without penalty. Unless it is specifically written into your contract ,I think you can keep your signing bonus. If you really want to collect unemployment benefits you will need to be fired in most cases.
How are you going to explain to your new employer you got fired? Resiging yourself is better.
It looks exactly the same, and nearly every BB has a rule of not discussing the circumstances of terminations. Besides, only a crazy person would quit without another job lined up, and the hiring manager wouldn't hire a crazy person, would he?
First, tell us your location, most of the advice in this thread is based on the assumption that you're based in the U.S.
Tell us the bank and the group you are in.
Haha, pivot is trolling- we don't need to know which bank you work for, and if pivot is going to apply for your job, he deserves to have a manager like yours'. But yes, these assumptions are based on the US- specifically New York. If you live in a different country or a different state, the rules will be different.
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