How does bonus repayment work?

Incoming analyst at an EB and have a clause in my employment contract that says I have to repay my signing bonus in gross if I leave the firm before 2024. Wondering how strictly banks hold to this and if they actually come after you if you leave earlier?

Also is it standard to ask another employer to pay off the repayment for you if they want you to start earlier than that? 

Are there other ways to get around it?

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Comments (9)

  • Analyst 1 in IB - Gen
Sep 15, 2021 - 10:50am

I mean just don't pay. Seriously, what's going to happen collection agents come to your door and take you away? This isn't debt. If more of us actually had a backbone and stood up for ourselves, these discussions wouldn't happen. We already sacrifice a lot of our lives for the firm I'm sure for several thousand across some analysts they can survive. 

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Sep 15, 2021 - 8:45pm

I knew a colleague that took his Associate sign in bonus but left the firm months after. He refused to pay back that bonus, so a debt collector came knocking on his door. He ended up paying back the amount.

I'm sure every bank is different but if they ask for it back, just avoid any issues and return it.

  • Analyst 1 in IB - Gen
Sep 15, 2021 - 9:07pm

Lmfao what kind of cheap ass bank is this? Fuck that don't pay, stop living like a crumb guys.

  • Business School in Research - Other
Sep 15, 2021 - 9:01pm

Buy some crypto. Double the money and give it back. 

Sep 15, 2021 - 9:15pm

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