Pick my own bonus.....
For some context, currently finishing up a SA role at a no-name boutique. I'm the only junior banker here and have worn lots of different hats - I've pretty much been the FT analyst. Pretty rough culture at times... The MD who runs the show just told me to "Think about what your bonus should be and we will discuss."
How would any of you go about this? What is a good figure to start at? I've really got no clue...
Thanks!
Show him a range. Sort through bonus threads and compile bonus data for A1s. Then show 25th percentile, Median, and 75th percentile.Now look at base salary for your bank, does it pay less than other banks? What's the discount?Apply that same discount to the bonus numbers. Once you come up with the discounted bonus amount, prorate it for the number of weeks you worked this summer.
How do you know the MD is a male?
How do you know the MD isn’t a male?
Totally agree with this, this is kind of a test to see if you understand these types of concepts when they apply to getting paid.
Also, have some good "back up" of important things you completed over the summer and how they added to the bottom line (if possible).
Few ways to think about it:
1) would you consider a full time role there? not saying you are signing yourself for anything but it's a good backup to have and helps recruiting to have an offer to fallback to - if so that could be a thing they could offer you
2) Think about what your base pay was over the summer and I would think that 50% of what you got over the summer (assuming they paid your decently) would be a good place to start, if they pay you well below street maybe more as you can argue that you proved yourself worthy and added value and should get back to street level and get say 75% of base over the summer
3) Estimate what was your true value add to the team over the summer and estimate your bonus like this
Honestly never heard of interns getting bonuses so... but eitherway you need to have a good rationale to support your argument so that it does not seem like a number that is coming out of no-where.
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