London IB offer: things to look for before signing contract
Hi all,
I am currently working at an European big4 office and have been to receive an offer to lateral as A2 at a BB ib in London.
The contract is massive, the company book it refers to, even bigger.
Apart from base salary and the 23 holiday days they offer, what else should I look for before signing?
The bonus language seems super evasive with no real indication. I guess at the junior level these things are not really negotiable, are they? I assume signing bonus is not the norm either?
Any practical tips?
Thank you! I'm sure this could be helpful for others too!
There is nothing you can really negotiate at this level, and for bonuses just take a look at Arkesden reports, which are quite accurate (you can look through older reports to see the std variation of them, which is a good indicator)
For the sake of curiosity did you get any seniority cut (how many years)?
thanks!
nah no "real" seniority cut I think. I finished not long ago the "grad/rotation" scheme, so I guess I could have been offered A3?
But I was told that promotions happen in June/July, so I am set back only half a year which is ok in the big scheme of things I assume..
Bonus language should be something like “possible additional rewards subject to performance”. Also I have 25 days of holidays but not like you’ll be able to negotiate that - we work on bank holidays though...
Congrats on the offer - finally someone proving that going down the Big4 route is a suitable path into banking!
Thanks! Big4 IB jumps are definitely possible and have seen them in the past, more though in DE/NL offices, not sure about London
What about the benefits apart from health ins. etc?
Is it normal that e.g. overtime transportation or dinners are not mentioned in the contract?
Health benefits are seperate and will be explained seperately.
Yes - if it was they/you would have to pay taxes on them as considered as a benefit/compensation - these are business expenses.
Maybe check the zeros are in the right place ...
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