I lateraled into a new bank a 3-4 months before bonuses. When negotiating the offer, HR told me on the phone that I would get a full, non prorated bonus come summer (versus an upfront bonus buyout). However, in retrospect, this wasn’t in the offer letter at all - no mention of bonus outside of the standard terms.
Is it possible that I could get screwed? What is the likelihood? Any horror stories?
Thanks
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There is always some possibility that you would get screwed if it's not in writing. A buddy of mine got a verbal promise of a full-year bonus of $X but the person that struck that "deal" left the firm. HR and the group head were unaware of this "deal" and he ended up getting pro-rated with an amount that was lower than targeted. It's very situational but I'd recommend just waiting to get the number and if its pro-rated, just tell them you were expected to get a full year number etc. I dont think they will screw you unless you were underperforming.
FWIW I relied a few times on these verbal representations - no writing, pushed back to get it inserted into the offer letter but was rejected. Luckily there were no issues at all at year end.
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