Hey Everyone,
Wanted to know if there was any precedent of an analyst working in banking without the option to receive a bonus at the end of the year.
Having accepted my current back-office role with the intent of exercising mobility, I have been preparing (studying) for the past 12 months - building LBOs and merger models, hand-spreading comps, etc. I wanted to know however if offering to work without a bonus would make me more competitive.
Best,
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I understand the reasoning but it just comes off as really desperate. No bank wants the reputation that they underpay their employees and they definitely don't want the reputation of taking advantage of desperate kids.
If you're not competitive enough w/ other applicants if you're being paid a bonus, you won't be if you're not being paid a bonus either.
I would argue that I am VERY competitive; on par with most top bucket 1st-year analysts regarding technical skills - exceptionally fast in excel (can build three statement LBO in under an hour). The challenge for me is getting an interview, and maybe offering to work without a bonus is the catalyst to get an interview.
You missed the point though. BBA18 didn't say you're not competitive. He said if you're not competitive in the bonus scenario, you're also not competitive without a bonus.
Bottom line: the answer to your question is a simple no.
You've done other things to be competitive, keep doing more of those things. When you get the offer, you'll be getting the bonus too.
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