“Commitment” at Analyst Level
Is it common to sign a 3 year “commitment” at the analyst level coming out of undergraduate? If so is there really a way to negotiate it?
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Not much to negotiate since that’s what they see as the break even for training you, usually it’s only 2 years but seems unlikely you have leverage to talk them down. Could always break commitment and burn the bridge if you really want out
What kind of firm is asking for this? Not something I've heard of at this level, but not surprised the way turnover happens (I'm guessing this firm has historically high turnover...). What is the penalty for leaving early? What is the incentive for signing this thing? Unless they really compensate on these items, doubt this is easily enforceable from a legal perspective (talk to your attorney in case), but maybe valid for reputational shaming/harm.
Curious more about this!
You see this in IB where you have to pay back your $10k signing bonus if you leave within 12-24 months… but if it’s anything more than that I would run for the hills.
Clawing back bonuses is not okay unless you’re making $200k plus at the analyst level
Sign the commitment and than do whatever you want as long as you don’t need to pay back a large amount of compensation. If it’s a $10K signing bonus, just make sure to have that on hand if you do leave. I’ve never seen anyone claw that back even if you leave - but I’m sure it happens. I’ve had a few friends leave firms in the claw back period and didn’t have issues. They kept the money. If the firm is trying to claw back other comp - run for the hills. Technically speaking, if you left during the contract period - it doesn’t matter. You are employed at will just like you can leave at will. My first job was technically an ‘analyst’ program with a three year term, which I signed. But if I chose to, I could leave prior to three years with no repercussions.
In IB they always clawed back. Saw three people go through it
Ouch. That sucks.
Added point... if this is just a repayment clause for a sign-on bonus, then I'd say this is very common. The language of "Commitment" threw me off. My current job came with a sign-on bonus that called for payback if I left within two years, I found that very common/reasonable. Three years is about as long as I could this being reasonable, I guess you could ask for two years, but honestly, it's maybe the shittiest point you can negotiate upon!
Haha thanks!
is it just a repayment of sign-on clause? I first interrupted this as some form a "non-compete" type agreement, still curious lol.
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