When are annual bonuses paid?

For us, it is the next paycheck following the day you find out. Paychecks come everyone couple weeks.

Why do you use a word "paycheck"? Do they actually pay you by writing a check? :)

Well, I hope it's still a direct transfer to bank account, but who knows how such things work in USA. For signing bonuses, I heard they indeed use checks, hence the question

sorry for asking a dumb qn, are bonuses taxed?

My one friend was in fact offered a gross-up sign on bonus. He started straight out of college at one of the asset managers that isn't an arm of a Wall Street bank.

sorry if I have not made my question clear: i meant to ask when the annual bonuses are paid - which month (February, March, or another month)?

Further, do they pay out the entire bonus amount in the next pay check?

Depends on the bank. Goldman is usually the first out of the gate, so if they announce in mid-December then you'll get the pay in your account usually within 3 weeks. On the tail end you have the European banks, so Barclays, CS, and UBS all usually pay sometime in early to mid-February, and then it's in your account 3 weeks later.

Either way, when you get your bonus they should tell you the exact day it will be in your account. MDs typically joke that here's your bonus but it won't be in your account until X day, so plan your resignations accordingly....