When does FT signing bonus hit?
Asking for JPM IB in particular. Nervous that I won't have enough money in my bank account by the end of senior spring to pay for an apartment security deposit + 1 month's rent and don't want to ask my parents again for money since they've already done a lot for me. Also I know it's 10k but probably only 6.5 is going to hit our bank accounts right?
Also if I made approx 11k this summer and was taxed at like 35%-40%, how much can I get back in taxes in the spring? Getting desperate here lol
JPM signing bonuses hit inside of 60 days before your FT start date.
Not for IB but back a few years ago I got it about 2.5 months prior
Not JPM, but similar BB and I got $10k in my account (the tax receipt said $14k, they grossed it up) and it was about 30 days out of starting. NYC rentals rent like 1 month out MAX, and those are usually higher-end co-op or condo buildings that need board approval - your average analyst unit is typically 2 weeks out or even immediate start these days.
Also, don't forget the 15% brokers fee. Even if you don't hire one, unless you find a "no fee" unit (very few + competitive) you will also pay 15% of the annual rent up front, so a little more than another month's rent. It adds to the cost significantly. if that's a huge problem, make sure you are looking at no-fee apartments only - StreetEasy has the option to check that box
If you only made $11k and didn't have another job, you will get just about all of the federal taxes back. No social security back of course. The first bucket is no tax up to like $10.3k, and then 10% above that. and then state tax on top. will be a few thousand
yeah it was $11k that hit my back acc so post-tax. pretax I think it was maybe $19k but hoping to still get a couple thousand back in the spring.
it was after the first 3 weeks of training this year at JPM which sucked timing wise. Wouldn’t count on having the money when you’re looking to pay move-in costs for an apt unfortunately
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