I recently received a full time offer at a BB for an investment banking role, but I noticed the signing bonus on the offer letter was only $5k. When I asked HR about this, they said only returning interns are eligible for the full $10k signing bonus, and since I was a FT hire, I was only getting $5k.
Is this normal in the industry? Should I attempt to negotiate with HR or speak to my team about getting the full $10k? I feel like they're only doing this because it's so late in the process and assume I don't have any other offers.
Are you gonna really step on HR’s toes at your job you haven’t even started yet over $5,000 when you’ll be making $120,000+?
Tbh I just wanted to see if the reasoning for the lower bonus is normal. I've asked other people who were FT hires and none of them said they had lower signing bonuses because of it.
This is strange, although I am not sure that attempting to negotiate a higher signing is good idea without another offer. Are you located in NYC? I have a friend who recruited for FT at a BB but in a regional office who received zilch.
Yup NYC. I guess it happens then. What was the reasoning for your friend not getting any?
I signed a FT offer at a BB without interning there - still got $10,000 signing bonus
do you think I can try to negotiate with HR?
Its $5k difference, after tax $3k (give or take). I wouldn’t want to strain my relationship over that
I'm not sure I agree with people telling you not to negotiate. $3,000 (after-tax) is $3,000, regardless of how much you're going to make.
I wouldn't make a fuss about it, but I'd definitely raise it in a polite way e.g. "Hey - I had been speaking to friends at other firms and noticed the norm on signing bonuses is generally $10,000 even for those that didn't intern there, is there any possibility you guys would be able to do similar?"
Let's be real - it's HR. They're not going to be like "NO! You greedy bastard! Offer revoked!!" and most likely they'll just say "Sorry, we can't" and move on, but it doesn't hurt to try.
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