Most Draconian Policies on the Street
Wanted to make a thread to see what some of the most draconian policies are on the street for topics ranging from clawbacks, protected weekends, pe recruiting, lateralling, hours, food ordering, etc.
IMO I think the most draconian policy on the street is FT Partners clawing back ANALYST performance/year-end bonus and signing bonus if they leave/lateral... even worst is that they claw back gross performance bonus on analysts...
The only other bank that does anything close to this on junior bankers is Jefferies but at least its for Associates and above, not analysts...
Okay, okay, sure they do have some “strange” policies. BUT - and that’s a big butt - you get to say you work at FT Partners 😤
Jefferies and CS both have clawbacks for prior year bonuses up to three years after payout…
Who else has clawbacks so I don’t lateral there lol
Im an incoming FT Analyst at CS and nowhere in my offer letter does it mention a performance bonus clawback. I think that was a recently implemented policy on senior bankers. Also Jeff doesnt clawback analyst performance bonuses, only performance bonuses for Associates and higher get clawed back if they leave before 4 years.
Cs clawbacks on director and above
jefferies on associates and above
BMO makes you pledge your allegiance to Canada in the case that a military conflict starts.
It’s probably worse at Macquarie imagine getting drafted for the next Emu War
What’s the legality behind these clawbacks? They have to be mentioned in the offer letter right?
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