I'll be an SA at a BB this summer and was just curious about when SAs receive their housing bonuses. Does it vary by firm or is there a standard industry practice? If the latter, when are they generally issued?
Thanks.
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At some banks, SAs will receive the housing bonus as part of their first check, so 2 weeks after work begins...
Seems wierd, but that is how it works at my bank.
Got mine at the end of March. This is for JP Morgan.
im going to be at MS and like Devil said, it should be with the first check
It is the first check here as well (at least thats what I recall our summer telling me).
It should be noted, that its not necessarily two weeks from when you start; its likely to be sooner. If you start two days before a paycheck is paid (say you start on the 13th), you will get a pro-rated paycheck on the 15th.
GS handed ours out midway through the summer fyi
i'll be at MS and got mine around the middle or end of april.
truzilla and i are probably in different divisions, so apparently that's also a factor
what's the deal with taxes? I'm working at a bank in the city and goto Columbia. I got taxed at 40% for the housing bonus. My $2k was nearly halved
You may have been withheld at 40%but your tax rate should be much less. You will probable get a large refund in federal taxes when you file in 2009.
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