How are you spending your bonus?
Wall Street bonus season is here.
I’m a money reporter and I’m looking to speak with finance professionals about this year’s bonuses — how they compare to expectations, how you’re feeling about them, and what (if anything) you’re planning to spend them on.
Are you saving? Investing? Paying down debt? Making a big purchase? Sitting tight?
If you’re open to sharing your perspective (on or off the record), please DM me or email me at pcacheroATbloombergDotnet. We're looking to hear from everyone from analysts to MDs in IB, PE, HF and VC.
Confidential conversations welcome.
Based on the most helpful WSO content, bonus season discussions often highlight mixed sentiments among finance professionals. Many report that bonuses, even in record-breaking revenue years, can be underwhelming due to factors like increased headcount diluting the bonus pool or firms allocating a significant portion of bonuses in stock rather than cash. For example, a Citi Associate 1 shared receiving a mid-bucket bonus of $115k, with 25% in stock, reducing the cash component to $86k. Similarly, a JPM Associate 1 reported a $192.5k bonus with 20% in stock.
As for spending, professionals often have varied approaches: - Saving and Investing: Many prioritize building their investment portfolios or saving for future opportunities. - Paying Down Debt: Some use bonuses to reduce student loans or other financial obligations. - Big Purchases: A few allocate funds for significant purchases like real estate or luxury items. - Sitting Tight: Given economic uncertainties, some prefer to hold onto their bonuses for flexibility.
If you're looking for direct insights, reaching out to professionals across IB, PE, HF, and VC might provide a broader perspective on how bonuses are being utilized this season.
Sources: Bonuses for Investment Banking 2017, 2020 Analyst Bonuses, https://www.wallstreetoasis.com/forum/investment-banking/bonus-season-comps?customgpt=1, Cancelled Bonuses
I'm going to buy a snow cone machine
My firm (PC, ignore title) paid out in December, and it sounds like most people lost it all in the past two weeks in the market lol
Put it all in SPY and forget about it. I save like ~20% of my base and save all my bonus. Still make ample money to do whatever I want including various trips a year. I feel like we work so much that it's hard to really spend all the money I make in the short-run.
Interesting, I'd love to hear more. I'm sending you a private message!
If you aren’t saving/investing an overwhelming majority of it you belong in either preschool or the psych ward
I’m spending 70% of it on a used 911. Have never spent any of my bonus before and I save probably 50% of my post tax income
Been eyeing a pair of Loro Piana summer walks. Some money to my parents; they don't need it but it makes me happy. Some money earmarked for an annual trip with the wifey where we go all out on super nice hotels and restaurants. Remaining 90% goes to a 80/20 equities / bond etf although this year I have been thinking about also picking up shares of some alt. asset managers like BX and KKR which have traded down unreasonably (I think).
If you're open to it, I'd love to chat more. I'm sending you a DM!
Friends & Family fund LP commitment
I've already lost it in the markets
Went towards buying a house. Suburbs are paradise.
Would you be open to chatting more? If so, DM or email me at [email protected]
Got a $250k bonus ($135k post-tax) as a Senior Associate at UMM PE in London
$50k going to my mortgage
$30k into my savings / safety net
$30k to contribute to my wedding this year (most of it paid by parents thankfully)
$15k for holidays (2 weeks in summer and 1 ski trip)
$10k for « fun » (bought a new pair of skis, guitar, camera and expensive cigars)
Would you be open to chatting more about this? If so, you can reach me at [email protected]
You're living the dream brother
Splitting it with my UBS friend, he got a hug for bonus.
DEL
30%: Movado watch
50%: supreme box logo t shirt
20%: Tapout hoodie
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