Its time for the annual shakedown of junior bankers to pay into support staff bonus pools! Merry Christmas everyone!
Favorite time of the year for me. Despite growing threat of more layoffs and seeing friends be escorted out of the building over the past year, its time for the IB leadership to start shaking people down to pay into the bonus pool to reward the mail clerk, admins, janitorial staff etc. Because surely they CAN'T use company funds, it needs to come from the analysts and associates on the floor.
Have been instructed its customary at my rank to pay 150-300 dollars to my admin and another 100 for the floor staff.
Nothing more fulfilling and exciting in this job to be forced to personally pay fair wages to the staff (vs the firm doing so), and then get potentially walked out by HR the next week (with no explanation from group management) as a casualty of "market dynamics". Such is corporate America.
Merry Christmas everyone!
Lucky you. My group’s guidance is that analysts not only have to donate $100 for our admin, but also have to give a end-of-year tip of $300 for each director and $600 for each MD. Kinda blows that my severance pay now has to go to my seniors rather than my rent. I’m not gonna be able to buy gifts for my friends or family this Christmas and will have to be homeless but hey tis the season
Are you joking
No fucking way
Hahahaha
How much are you guys tipping your landlord this year? I’m thinking an extra month’s rent and a bottle of Fess Parker.
At my firm we have a mandatory tithing policy ( think 10-15% of total comp) which mainly goes towards paying for the MD’s second wife, as well as building a gilded statue of him at the lift lobby
If you tip you are a simp. They work 9-5 and the mds get so much money that they can afford to share some of their wages with thr admin. I will never ever tip support staff. Only people i tip during thr holidays will be my 2 fav conceirge people and the maintenance person in my building.
if someone bugs you for the tip at work, say you are helping family and cant afford it. If they continue to bug you record the conversation and save it for ammo.
anyone knows how to tip Jeff Bezos? would $100 suffice? I just want to help make a difference for him during this Christmas, god bless his poor soul
I laughed when this email hit my inbox. My admin hasn’t done any admin work for me. No way I’m forking up $100.
I rlly wish banks used this to collect money for charitable purposes, i.e. for people WHO ACTUALLY NEED THE EXTRA MONEY.
Can’t believe this industry gives tips to admin for just doing their regular job
Pro move, always tip, but tip in the form of a check that’s dated to the day after bonuses are in account. If you’re getting laid off before you’re getting your bonus, just cancel the check. They’re not your admin/MD anymore!
Damn, some of these are high amounts for juniors. Our floor/ cleaning staff contributions are like $20-30 for juniors, 50-75 for VP/D and $100 for MD. admins vary but usually $100-300. I don't actually give my admin anything, I give the head admin money since she controls floor (seating, some expense approvals, general grievences) and is actually a good person. Most of the others are mindless drones who don't really even do their own work. More of it is automated than ever.
Don't disagree that it would be nice if admins got bonuses from the bank vs other employees. I think partially why this happens the way it does because it's for optics; admins and basically everyone else not in the industry think of investment bankers as overpaid. So I think this small redistribution helps counteract that narrative.
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