I know this have been talked a lot in the pas, however I couldn’t find a straight answer and the market now is obviously much different. Assuming if I’m lateraling as a 2nd analyst or 3rd analyst right after my current firm pay out bonus, can I still ask for a $10k sign on bonus and ask the bank to make me whole on my bonus? Assuming they pay bonus mid year and I join in mid feb?
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Just signed a lateral offer to start in January. It wasn't explicitly in the initial offer letter but I asked for them to pay off my signing bonus I would have to repay and if there was any way to be made whole on the 6 months worth of bonus I had accrued at my previous firm.
They agreed to both, no issues. They aren't likely going to explicitly say it up-front, but it is a simple ask that is probably common from people lateralling.
Not exactly sure on the signing bonus portion, it wasn't in my letter, but I was more than happy with the signing bonus payoff and stub bonus when I started so didn't want to push it.
You’re a first year analyst?
Yes - had very strong reasons for wanting to leave so the lateraling at only the 6 month mark wasn't an issue.
Can you PM me? Looking to lateral as a first-year and was hoping to learn more
The bank will make you whole on your 2/12 months bonus, which won't be much, so I'd definitely ask for a $10k signing bonus as well in this market.
This assumes you are a very competitive candidate at a similar or one notch lower bank, this answer is different if you're from a tiny boutique and get few interviews.
Should I assume sign on bonus isn't really for a thing for lateral hires? And, asking the bank to make you whole on bonus is reasonable?
I had a handful of offers from BBs (An2), all had signing bonus pay back to current firm and will compensate with a full year bonus (covering the months of bonus I accrued at previous employee). Also stay on the same promotion cycle.
I asked one firm explicitly for an additional signing bonus and they said that they don’t offer them for analyst laterals
Were you changing the role or just banks? HR from BB IB straight up told me I will be spending half a year longer at the analyst level, since I'm coming from MO. Wondering if it's okay for me to negotiate promotion cycle, bonus etc, or would they simply push through with their policies because I'm changing my role from a MO.
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