Lateral Question (Comp arrangement)
Hi everybody
First time posting here so please bear with me. At the late associate level if I lateral from a BB/EB to another BB/EB sometime this year, my current bank would obviously not pay me a bonus in January 2022 for the 2021 time period. However I would not have worked at the new BB/EB for the full year. Is it customary for the new BB/EB to give me some kind of an 'average' bonus in January 2022 since in order to join the new firm I basically walked away from receiving a bonus at my current firm? Or is the expectation that I would just forgo a bonus for 2021? Would I also be compensated for unvested stock at my current firm?
Thank you in advance
Welcome to WSO.
Typically, your new firm will prorate your bonus for the amount of time you work there. Often though, you can be paid a signing bonus thats designed to make you whole for the bonus you're leaving on the table.
Not sure about the unvested portion, but my expectation is that that gets left behind. Obviously this is all negotiable though. I'd think at the senior associate level you'd probably be able to make the ask without getting laughed at.
Can confirm - didn’t make the ask to not get laughed at.
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