Signing Bonus and Rescinded Offers
If a bank were to rescind your FT offer due to bad economic conditions, or if you were laid off because there isn't enough deal flow, do you have to pay back the signing bonus?
Trending Content - Investment Banking Forum
| +419 | Evercore Intern Seizure | 64 | 2h |
| +130 | UBS IB Americas has failed, now behind Santander and Stiffel | 34 | 17h |
| +119 | Sent my Claude prompt to 200+ Teams chat. MD wants to see me Monday. | 43 | 16m |
| +79 | deleted deleted deleted deleted deleted | 45 | 3h |
| +67 | How do I understand vs. just memorizing? | 12 | 3h |
| +67 | Some banks are overrated as fuck | 22 | 2h |
| +48 | Associate & Above IB exits | 18 | 1d |
| +48 | The good and bad with Wells Fargo | 18 | 6h |
| +42 | Tech to IB Pivot | 22 | 11h |
| +34 | Advice on Neuromaxxing | 9 | 4h |
Career Resources
It should be in the contract. Most contracts state that you have to return the signing bonus if you don't complete X number of weeks or they don't say it at all.
So if it says something like that in the contract, then it doesn't matter if you were rescinded/laid off vs. you voluntarily didn't start? They'll still expect you to pay it back?
Keep in mind, most banking positions are at will. Whoever wrote this contracts definitely didn't plan for something like this so it's probably best to check with HR first, but I'm pretty sure they still have a right to rescind the bonus.
had my full time offer rescinded due to covid. MM Boutique let me keep the signing bonus (albeit it was just 5000).
If they ask for a 'pay back' after they rescind or cancel and have already paid, I'd probably respond back that they have failed to honor their side of the contract so the repay request is enforceable. If they get pissy, call a lawyer, but I doubt they will have much luck or even desire to take very far.
If you are willing to write a check... I'm sure they will cash!
Soluta omnis eaque ut. Aspernatur eos beatae rerum illum amet ad. Aliquid labore consequuntur eaque et temporibus quisquam. Ratione rerum tenetur ut et alias voluptas. Omnis provident qui explicabo. Nostrum id culpa ducimus placeat dolorem quaerat et assumenda.
Incidunt vel fugit debitis vel et. Architecto harum ullam laudantium voluptate aliquam velit cumque. Et magnam qui et rerum laboriosam corporis. Quos corporis molestiae qui quae optio perferendis incidunt. Ab quia iusto molestias labore.
Recusandae quo eum assumenda. Aperiam dolores nam non non. Ullam accusantium voluptatum hic ex accusantium possimus. Numquam necessitatibus iure officiis earum ut blanditiis. Ducimus ut ut et neque iusto occaecati iste.
Dolores iste illum omnis reprehenderit ipsa dolorum. Eum quia quis ab praesentium explicabo. Id illo et inventore illum esse.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...