Full-Time Packages for Class of 2008
This is what I've heard for one of the BBs (all figures in USD):
Analyst package:
1) New York - 60k base + 10k relocation + 2.5k sign-on
2) Hong Kong - 60k base + 20k housing + 5k relocation + 2.5k early sign-on
3) Singapore - 60k base + 5k relocation + 2.5k early sign-on
4) Tokyo - 60k base + 5k relocation + 2.5k early sign-on
Could anyone confirm that these are the standard?
Info on associate packages would be appreciated as well.
GBP 37k + 5k signing = USD 74k + 10k signing
London: 58000 GBP base, 50000 USD sign on bonus and 10K USD summer end bonus.
NYC: 95000 USD base, 50000 USD sign on and 10K USD summer end bonus.
For US school applicants, when does recruiting start for asia branches?
No 2.5k sign on.
Got 2.5k sign on.
Patrick and crsh, were your offers for NYC?
For me, 2.5k is the loyalty bonus for returning summers. Regular full-time recruiting shouldn't expect it, the relocation payment (10k) is the "signing bonus." Of course, you've got to remember that you'll see about 60% of that after taxes, and you'll most definitely want it to pay a broker's fee if you end up with one. So don't spend it all.
Yeah, I guess the early sign-on only applies to summers who have been given offers, to get us to sign on before they begin recruiting full-time.
Does any bank put down the deposit for housing? Apparently some banks in Asia will be guarantors when you get housing there.
Not in NY.
Definitely not in New York
if one interns with a division other than banking but comes back with the same firm for banking full-time, do you think they are eligible for the 2.5k sign-on (assuming the firm does this)? also, is the 2.5k stated in the offer letter?
d
No, the 2.5k is sometimes linked to an earlier exploding offer; as in, you get this group if you sign by X date and no bonus and placement if you sign after X. Don't expect the 2.5k unless you sign exactly as they tell you, and they will have told you about it if you can expect it.
It is NOT stated in the offer letter, nor is the earlier half of the exploding offer. The employment office or career services at wherever you go usually sets a time at which offers may explode; anyone breaking the rule doesn't get to come recruit the next year (I'm talking from experience at a very-target). Explicit signing bonuses are also sometimes prohibited (the relocation doesn't count, thus why it's called a relocation payment). The offer letter doesn't state anything that isn't kosher to the letter of the law, the other details being verbal agreements of a sort.
Full-time recruiting for all the divisions should be at the same time, and if you really want to find out call up a recruiter and ask.
36k base + 6k sign-on
58000GBP? That's almost $120k....geez
Yes, I know we're talking about associate.
Bear Stearns NY- $10k sign-on + $60k salary
60K base + 10K sign-on
holymonkey, the pay differential is courtesy of the worthless US dollar
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