Bonus Spending Szn

Sup

Now that the threads on bonuses have started and are being populated with 90% useless info and no numbers, thought I'd see what people are doing with theirs this year. Saving? Probably smart. That's the route I'm taking this year. Spending? Less smart but probably more fun. What are you buying? Maybe that new Rolex you've been eyeing, the new consoles, workout equipment, whatever. Would love to hear your bonus plans.

Comments (107)

 
  • Associate 1 in IB-M&A
Dec 29, 2020 - 5:57pm

I'm boring and am knocking out student loans + a pelly given it's first year out of school. 

 

Guy I work with who just got the VP-> director promote used his as a down payment on a house in Quogue - I thought that was dope. Seems like every director-promote buys the future country house and keeps the pied-a-terre as a matter of course. 

 
  • Analyst 1 in S&T - FI
Jan 12, 2021 - 2:56am

Quogue is cool and all but it really is like all old people and kids. Source: worked there for a summer. Saw the mannings at the quogue beach club which was kinda cool.

8.5.5

 
Dec 29, 2020 - 6:18pm

I usually invest everything but 10k, which I spend on vacations and stuff. I'm not really worried about my job prospects going forward, and I will stay in banking for the long-tern, but I do think it's wise to put away most of your bonus for the sake of compounding returns.

I don't know... Yeah. Almost definitely yes.

 
Jan 4, 2021 - 4:14am

Yeah this is perfect. 10K fund to fuck around and do whatever with gives you enough to satiate any needs while the rest grows

 
  • Associate 2 in PE - LBOs
Dec 30, 2020 - 1:19am

PS5 + Rose Bowl tickets + new laptop + gifts for family and SO + some random clothes. The other 90% or so gets invested

 
Jan 4, 2021 - 11:16pm

Does this seem kind of low? Maybe I'm calculating this wrong, but isn't total cost around $500 (PS5) + $1000 (Rose Bowl Ticket x 2 + few hundred for lodging) + $2000 (new laptop) + ~$2000 for gifts and clothes = ~$5,500, making his total bonus only $55,000? That's low for a buyout fund bonus at the ASO2 level, right? I probably was very conservative with my pricing though.

 
  • Analyst 3+ in RE - Comm
Dec 30, 2020 - 7:47am

Question for you guys spending your bonuses - did you already spend your entire base salary as well?

 

The way I think about it, I haven't touched my bonus until I spend the entirety of my base salary. Given my low spending during Covid, I've probably got $10k of after-tax base salary savings to go.

 

So my answer is... yeah I'm gonna splurge on some new clothes but I won't really be spending my bonus.

 
Dec 30, 2020 - 2:55pm

I spent a lot of it but saved a bit more than I thought I would due to COVID. Not a huge increase but nice nonetheless. 

Dayman?
 
Jan 1, 2021 - 12:15pm

It's really left pocket vs right pocket... sure, I save a portion of my base as well, so whether you want to view any expenditures as coming out of that pile or out of the new inflows is just your mindset. The money's fungible so it doesn't really make a difference

 
  • Analyst 3+ in RE - Comm
Jan 1, 2021 - 12:51pm

Fair enough. To me it's interesting to see others spending habits. If someone spends their entire base (excluding 401k) and then drops $10k on a watch as a first year analyst - that's very interesting to me.
 

Just seeing how comfortable others are spending on luxury goods. I know someone who spent his entire $175k base and a good chunk of his bonus as a single guy in his twenties. Know another guy who lives on 50k per year despite making close to $200k. I feel like many on WSO edge towards the first example rather than the second. Nothing wrong with either lifestyle

 
  • Analyst 1 in IB - Ind
Dec 30, 2020 - 6:02pm

First stub (25k pre tax and probably 17.5 post). Spending 5-6k on a speedmaster rest is saved. I've honestly saved 90% of my post tax income so far ($30k) so not really worried about spending too much 

 
Dec 30, 2020 - 9:10pm

-

 

 

PATEK PHILIPPE

Grand Complications Split-Seconds Chronograph Perpetual Calendar

REF 5204/1R-001 | SKU#4080818

$229,950

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

 
Jan 4, 2021 - 4:17am

Man that's harsh posting that on an analyst's question haha. But that's beautiful. Have actually become very very fond of the Nautilus recently as I used to hate the look

 
Dec 30, 2020 - 10:25pm

Fuck

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

 
Dec 31, 2020 - 5:19pm

Probably going to save for a down payment. Otherwise was thinking about a standing desk but FSA can cover that.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

  • 1
 
  • Analyst 2 in CorpDev
Jan 1, 2021 - 2:55pm

Bet it all that GME hits it out of the park. Been a big fan of Chewy for years and Ryan Cohen getting involved gives me confidence in the rest of the pivot thesis.

 
Jan 2, 2021 - 12:10am

Cartier watch for the wife's 35th, saving the rest

Cheer up, Bateman. What's the matter? No shiatsu this morning?
  • 1
 
Jan 4, 2021 - 4:20am

Yeah this is an important question lo. Can't be living w that much CC debt (much less any amount of CC debt). Focus on better money management rather than waiting for the bonus to pay off your balance. Have a friend who did this habitually till he was a 3rd yr associate, though his balance was like 20K, and it fucked him for years. Terrible move

  • 1
 
  • Analyst 1 in IB - Ind
Jan 13, 2021 - 6:51pm

I was just offered a black sub from my AD have 2 days to let him know but I don't really want it and don't want to sell it / ruin relationship. Things pop up 

 
Jan 8, 2021 - 2:34pm

Hedging against something? Or just a fan of crypto? Been skeptical of crypto for awhile, not as much now, but afraid buying in now would just be a FOMO move 

 
  • Principal in HF - Event
Jan 4, 2021 - 3:37pm

Would it be dumb to buy a used Ferrari or a Lamborghini?
I probably won't, but it is tempting...

 
Jan 4, 2021 - 5:59pm

I don't think it would be the worst thing in the world. There has been some price appreciation among some models as listed below. You'll have to pay for maintenance and expensive oil changes, but you could probably sell it for near what you paid for it if you do it correctly. 

-

 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

 
  • Principal in HF - Event
Jan 4, 2021 - 9:21pm

 

Isaiah_53_5

 

I don't think it would be the worst thing in the world. There has been some price appreciation among some models as listed below. You'll have to pay for maintenance and expensive oil changes, but you could probably sell it for near what you paid for it if you do it correctly. 

 

-

 

 

 

those are a little above the price i'd be in for.

 

i'm looking for something in the 80-150k range.

 

something cool that won't depreciate much and serve as a 2nd or 3rd car.

 

 
  • Associate 1 in PE - LBOs
Jan 5, 2021 - 10:58am

I spent my entire bonus on TSLA puts...  calling a top is stupid, yes, but like fifty says: "get rich or die tryin"

 
  • Associate 1 in PE - LBOs
Jan 9, 2021 - 3:21pm

I sized my short materially yesterday (up to $75k exposure). Down 30% on initial amount since I've entered my position. Stay tuned.

 
  • Analyst 2 in IB - Gen
Jan 7, 2021 - 11:40pm

20k to student loans, 6k to savings (I'm retarded for not having an emergency fund), rest going to ETFs and car loan

Seriously considering putting it all in cryptos.

 
Jan 8, 2021 - 11:37am

I auto dump my bonus into my 401k and that has helped me max out contributions every year for a while now. I already save a good portion of my base into a brokerage account so whatever is left from my bonus I'll just keep as "slush funds" to cover anything else throughout the year. Already have a Rolex Daytona, already have 0 cc debt, never had student debt, so the bonus money is just a nice extra. 

 
Jan 8, 2021 - 4:23pm

Curious too. Never had CC debt that couldn't be paid off with the next pay stub. WTF are you guys buying?

"The future will be better tomorrow" -Dan Quayle

 
Jan 10, 2021 - 10:49pm

Not sure if this applies to any of the other posters but hope it does, but a few months ago I put some new furniture on a new card with a 12-month 0% interest period that I'm throwing some bonus at to pay down. Wouldn't have done it if I couldn't have paid it all off whenever I decided but didn't mind floating it for a few months given no interest. Paying any CC interest seems nuts and I'd rather sell investments to pay it off than pay interest given the rates.

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