Signing Bonus?? - First year FT IB analyst
Should a first-year FT investment banking analyst expect a signing bonus?
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Depends where, but generally - yes.
BB = yes, MM = very likely, boutique = ?
street is 10k some EB pay more some no name Boutiques might not.
Great! Thanks for the help! Asked for one, got one.
No Signing Bonus? (Originally Posted: 08/22/2010)
Hi Guys,
I have just received an offer for an IBD analyst position at a top BB (GS/MS/JPM) in continental Europe. I was quite surprised that the offer does not include a signing bonus, which I had thought was quite common in the industry, at least at BBs.
So, do you think it would be negotiable? What amount would be reasonable?
Also, I am not really sure who to approach for such negotiations? HR people ? Do they really make any salary/bonus decisions, or are they just executing what the MDs are telling them? I am also thinking of calling instead one of the MDs that I had interviews with. Do you think that would be a good idea?
Thank you very much for your thoughts
I'm shocked that firms still need to pay a 'bonus' for giving you a job,esp in this environment. Nonetheless since it is an industry standard a reasonable bonus is prolly 5-10k
I know a BB that gave 10K bonuses for their ny analysts starting in July 2010
continental offices have different pay structures than NYC/London offices. usually, they pay you less overall. that being said, it's still great work experience and they pay you handsomely enough.
and no, do not demand money from HR
Not sure what "environment" you're talking about Guest... so far as I can see, hiring is definitely picking up.
I'd get in touch with HR and express your concern. Make sure you say that from your understanding from peers/friends at other firms its pretty standard on the street.
play the "moving expenses." so they think your going to use it for a few months rent at an apartment and to furnish your new place. Marcus has the right idea. and the right avatar picture.
OP, where are you located? If you do have to relocate, I would certainly pursue reimbursement from the bank.
I agree with the reimbursement idea, understandingly it is common practice to receive signing bonus in this industry, I personally know someone who received one starting in July 2010 but in NYC. I would be grateful for the job and try asking don't know who though, def wouldn't insist on it too hard. Your call...
Isn't this outlined in your employment contract? Every job I have had included a non compete, salary, outlined the bonus, etc. If it isn't in the contract I don't think you are going to get wiggle room. Calling HR and speaking to them calmly is an option, but if it isn't on paper you can't really renegotiate for it.
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