Recourse against bad bonus as analyst - need urgent advice
I’m leaving my EB bank for private equity at the end of the fiscal period. We have our performance reviews coming up and I’m anticipating a lower than expected ranking due to a project that didn’t go as the staffer wanted it to. Bottom line, I think I have significant justification as to why a lower ranking is not justified.
Do I have any sort of legal recourse against a bad ranking and therefore compensation if I fundamentally disagree with their assessment of my performance? If not legal, how would you defend yourself against a bad review to potentially up your ranking or compensation?
Thanks in advance.
Legal recourse? No probably not, that is a high burden of proof, and would require pretty clear discrimination against you. A low bonus can be because you didn’t do things as the staffer wanted, that is a fine justification, you may think you are right, but that’s not how you get paid.
Best advice is the be prepared to talk through the work you did, have backing of the things that went well, and of course any feedback or support from “important” people would be useful.
Any legal recourse you might think of would cost you x10 whatever bonus you might have missed out on. And not to be disrespectful, but you'll make a fool out of yourself and reputation.
May seem like a big deal in the moment... but years on, and on the trajectory that you're likely on, you'll probably chuckle to yourself. The after-tax difference between bands across your colleagues is likely relatively small.
Probably not worth obsessing over it, and spend your energy elsewhere. Yes it sucks, and easy for others to say this because you worked so hard... but I see little upside going down this path. Ensure you have the right supporters within your group, avoid those who may say negative things getting the opportunity to opine.
Thank you for your balanced perspective.
you have ZERO recourse...a bonus is just that...a "BONUS"...this is not compensation you are owed for time worked (that's your base salary)...they can give you ZERO bonus, and there is nothing you can do but quit and move on.
makes sense - get an extra 30k by pursuing legal recourse and blackball yourself from the industry for the rest of your career.
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