FT offer letter questions
Hi guys, got my FT letter to start at a BB next year, very excited. Though I just want to compare and contrast with some of what the other guys have on here for previous years or even the current year.
1) Does it clearly state the analyst stint is for 2 years? It doesn’t say on mine for some reason. Or is it just a rule that’s not dotted in black and white but should be understood for any banking stint?
2) Also, do analysts get a salary raise in Year 2 vs Year 1? If so, would it say so on the contract as well and what’s the industry standard (given that there’s an increase)?
Thanks
haha unless you are at Goldman.
but yes I believe 2nd year analysts do get an increase in base salary.
1.) My offer said that I had to return my signing bonus + supplemental signing + 401k contribution if I left before a certain date (roughly 20 months after start date).
2.) Almost all shops give the $10k bump in base (and hopefully more in bonus) for each successive analyst year. Don't recall if my contract explicitly stated this or if it was just something told to me by HR and my senior when I was an intern. (Better check!)
This was for 2012 Analyst start. Hope this helps.
Supplemental signing? How much was your signing + supplemental signing? I'm getting 10k in all for signing.
Supplemental was $5k for returning summers, all-in signing was $15k.
So boss.
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