When moving laterally as an Analyst shortly before bonuses are paid out, how likely is the new place to make you whole on your bonus?
Does the type of bank you’re going to have an impact here (BB/EB/MM/small boutique)?
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In a normal market, pretty standard to get a bonus at the new place (usually mid-bucket level). In today’s shitty market, pretty unclear.
For context I lateraled in 2021 when market was great from MM > EB and got a bonus at the new shop.
If you’re lateraling from some no name LMM shop to an EB for example I’m not too sure.
Lateralled last year couple months before bonuses from Balance Sheet bank to EB. Got a decent buyout (slightly lower than what my bonus would be had I stayed) and part of year end bonus in Aug. Unusually good treatment but the market was going insane. No way this happens now
Curious to know when and how the bonus discussion came about during the recruiting process and how you/they negotiated the amount. Were character references required? Any tips and advice would be helpful as going through through a similar process now (BB to EB). Thanks!
I hinted to the HH early on that we closing in on bonuses and what number I expected without asking for anything specific, so he was aware. When I got the offer I asked him if we can work something out and he came back with a pretty fair number - higher than what I'd ask for if they asked me point blank - so said yes on the spot. Pretty ballsy to ask for sign on as an analyst now but defo mention the whole forgone bonus issue. Maybe you manage to get a better treatment in year end bonuses when the new place pays out. No references needed, are they asking you?
Thanks for the insight! I don’t have a HH to do the negotiation part unfortunately, as the HR of the firm reached out and referred me in. So, I’m trying to prepare for different scenarios for what could come up. If I do get an offer in the end and hand my notice in and do the non-compete period, I’d be lateraling a good 3 months before my bonus would be communicated and paid and so I’m not sure how they can put a number on my bonus to make me whole, etc.
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