Associates, when are signing bonuses paid out?

Hey guys,

Doing some financial planning before heading into the MBA this fall. For those who are post-MBA IB associates, when was your full-time signing bonus deposited? Is it when you sign the FT offer at the end of your summer internship, or is it when you actually start FT after your MBA is complete, or is it a different date altogether?

Appreciate your responses, as it'll help me determine whether or not I'll be able to use this chunk of cash during my second year of the program. If you wouldn't mind listing your bank (or at least BB/EB), location and any guidance your bank has given on the payout of signing bonuses. Also, do you get a small signing bonus for the summer internship at all?

For reference, I'm heading to an M7, intending to recruit for NYC banks. Thanks in advance!

Comments (24)

  • Associate 1 in IB - Ind
Apr 27, 2020 - 11:31am

Assuming it's a bulge bracket, you will receive your signing bonus in late winter/early spring like february of your 2nd year.

Relocation bonuses are paid out in may/june depending.

All you get during the summer is your salary (prorated from $150K annual at BB - no bonus), you get a small relocation bonus of $2K around April/May before the summer.

Happy to answer any other questions, all the best!

Apr 27, 2020 - 11:34am

I know Blair gives it really early like October. And then Citi gives around April. Mostly around Dec/Jan though. 60k BB NY.

  • 2
  • Intern in IB-M&A
Oct 13, 2020 - 12:44am

Few friends @ Citi told me that they got theirs nearly a year after they started working

Apr 27, 2020 - 11:47am

Bonus structure is $40k signing bonus, $10k relocation bonus and $10k "early sign" bonus if you accept offer within two weeks at the end of the internship. There may be +/- $2.5-$5k at some places.

Would confirm most of what has been said, ~50% pay in the fall, ~50% pay in the early spring/late winter. Then there are a few outliers, seem like Citi hasn't paid incoming ASOs yet and UBS pays the signing bonus with the first paycheck.

  • 2
  • Associate 1 in IB - Ind
Apr 27, 2020 - 11:49am

I signed with a top MM and the bonus was paid out a few weeks after accepting the offer. Other possibilities are pay out around your start date or beginning of the year that you are starting.

  • Summer Associate in IB - Ind
Apr 27, 2020 - 11:53am

Any idea what the amount/payment date looks like for EBs? I heard the amount is generally similar to BBs (with some like EVR/GUG paying 10-15K more) but haven't really heard much what the timing is like.

  • Business School in IB - Gen
Apr 27, 2020 - 12:02pm

Appreciate the breakdown, very helpful - thanks! Solid that you got paid out in Sept/Oct, which seems earlier than most. Wonder if most EBs adhere to this timeline...

  • Associate 1 in IB - Gen
Apr 27, 2020 - 12:40pm

It's different per bank. In my EB, returning interns were paid within 45 days of signing the FT offer (there was also a smaller portion in a relocation bonus that was paid on your first FT paycheck). However, if you lateral to a different place for FT, you're generally paid either a month or two before FT start or with your first FT paycheck.

Friends in a BB were paid closer to their FT start but a comment above mentioned that it's about 50/50 on December of your intern year or the following year so it may just be the small sample size I saw

Apr 27, 2020 - 8:35pm

At another NYC BB, they paid $50k end of October of second year. I think it was in our offer letters from the end of the summer that it was payable within 90 days... Or maybe that was something I got from HR at the end of the summer. Relocation bonus of $10k was paid in first paycheck during FT training. I feel like there was another $2500 at some point but not sure.

I can't remember the deal with the early signing bonus or if they told me to fuck off. Probably the latter. The good thing about getting the signing bonus so early is it gives lots of time and opportunities to blow it and take out more loans in the spring

  • Intern in IB - Ind
Apr 27, 2020 - 9:30pm

Question: Do A2A promote get signing bonus if they stay at the same shop? If they lateral?

  • Analyst 3+ in AM - Other
Apr 27, 2020 - 11:45pm

How common is it for people to sign within the two weeks to get the early sign-on? Do people look down on you if you try to shop the offer or recruit for a new industry entirely but then decide you want to go back to the same bank as your internship and eventually accept the offer?

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