Impossibly low bonus

Left after 2 yrs at a top 3 BB - $20k bonus.

Was stunned on the call - knew I was going to get a low #, but this is a joke. 1st year bonus was $55k.

Anyone have a similar experience? Does it make sense to hire a lawyer? My concern is that I've moved on to another IB.

Checks clear in August - what would you do?

Investment Banking Interview Course

  • 7,548 questions across 469 investment banks. Crowdsourced from over 500,000 members.
  • Technical, behavioral, networking, case videos, templates. All included.
  • Most comprehensive IB interview course in the world.

Comments (64)

Jul 31, 2012

Just thank yourself you weren't an analyst at UBS this year.

Jul 31, 2012

was at a MM shop... first years got 7500, second years got 15000

Jul 31, 2012

Who did you piss off?

Jul 31, 2012

Not sure what you'd hire a lawyer for. Sorry you got shafted, for sure. That sucks. People are getting fucking raped all over the street bonus-wise. It's insane.

Jul 31, 2012
TheKing:

Not sure what you'd hire a lawyer for. Sorry you got shafted, for sure. That sucks. People are getting fucking raped all over the street bonus-wise. It's insane.

Take this to FINRA for arbitration - I mean its a joke... for second years at my bank the middle bucket was supposedly $65k.

I don't really have any other moves other than embarrasing them into giving me more.

Learn More

7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.

Jul 31, 2012
Committee:
TheKing:

Not sure what you'd hire a lawyer for. Sorry you got shafted, for sure. That sucks. People are getting fucking raped all over the street bonus-wise. It's insane.

Take this to FINRA for arbitration - I mean its a joke... for second years at my bank the middle bucket was supposedly $65k.

I don't really have any other moves other than embarrasing them into giving me more.

not sure if serious...

If the glove don't fit, you must acquit!

Jul 31, 2012
Committee:
TheKing:

Not sure what you'd hire a lawyer for. Sorry you got shafted, for sure. That sucks. People are getting fucking raped all over the street bonus-wise. It's insane.

Take this to FINRA for arbitration - I mean its a joke... for second years at my bank the middle bucket was supposedly $65k.

I don't really have any other moves other than embarrasing them into giving me more.

Hahahahaha.... good luck bro; discretionary bonus. They could have given you $0 if they wanted to and there's not a damn thing you can do about it. Sounds to me like someone hates you because you're probably a self-entitled little douche. Sucks but them's the breaks. Hopefully you're at another firm that doesn't suck and going to FINRA is only going to a) accomplish nothing and b) sully your reputation.

Best of luck.

Jul 31, 2012
Committee:
TheKing:

Not sure what you'd hire a lawyer for. Sorry you got shafted, for sure. That sucks. People are getting fucking raped all over the street bonus-wise. It's insane.

Take this to FINRA for arbitration - I mean its a joke... for second years at my bank the middle bucket was supposedly $65k.

I don't really have any other moves other than embarrasing them into giving me more.

Well, if companies are completely screwing people over it is going to get out. The WSO Company Database already has a ton of info...I know if I saw a 3rd year get $20k in there it would make me think twice about signing on, or if I was a 2nd year, staying for a 3rd...this is all going to be very transparent, very very soon.

We are in the process of developing an insanely detailed compensation report...all the data is in there for free, but we are going to slice and dice it to make sense of it each year.

Jul 31, 2012

Looks like someone doesn't like you and no you can't do anything about it. Its discretionary, duh.

Jul 31, 2012

Look for another company?

Jul 31, 2012

Unless you were guaranteed a specific percentage or number for bonus, there's nothing you can do except sending out resumes for a new job.

Jul 31, 2012

I'm guessing you work for MS then

I didn't say it was your fault, I said I was blaming you.

Jul 31, 2012

tis cant be posible. invetment banker only 20k bonus? how we are supposed to afford models and botels with that? u must not be a invetment banker u must be bank teller and u forgot. if u did not make a mistake and u are in fact a invetment banker, let me know, i will personaly call obama to have tis sorted out cuz tats a big big mistake im gettin mad

    • 1
Jul 31, 2012
Blalock:

tis cant be posible. invetment banker only 20k bonus? how we are supposed to afford models and botels with that? u must not be a invetment banker u must be bank teller and u forgot. if u did not make a mistake and u are in fact a invetment banker, let me know, i will personaly call obama to have tis sorted out cuz tats a big big mistake im gettin mad

Long time no see swagon

If the glove don't fit, you must acquit!

Jul 31, 2012
WalMartShopper:
Blalock:

tis cant be posible. invetment banker only 20k bonus? how we are supposed to afford models and botels with that? u must not be a invetment banker u must be bank teller and u forgot. if u did not make a mistake and u are in fact a invetment banker, let me know, i will personaly call obama to have tis sorted out cuz tats a big big mistake im gettin mad

Long time no see swagon

ive seen blalock post for a while now, dont think that's swagon

Jul 31, 2012

There's nothing you can do about it, especially considering you are going to another bank. Otherwise you could threaten to pull a Greg Smith - they'd probably just shitcan you with no severance, but 1% chance it works.

Bonuses suck across the street. If you're already decided leaving, you should just pull a work-to-rule slowdown (http://en.wikipedia.org/wiki/Work-to-rule). Best case, they fire you and you get severance above $20k. Worst case, you get your $20k bonus, plus a month of 11am - 4pm sweet life.

Jul 31, 2012

It's a bonus you could get 0, there is nothing you can do about it unfortunately, I would try and find out why. Did they hear about your departure?

Jul 31, 2012

Blalock is a very under-valued WSO troll. I'm always glad when he decides to make an apperance.... keep up the good work.

On an actually relevant note: suing a bank for an "un-flattering" bonus would probably be the most asinine case since that bitch sued Dunkin because her coffee was too hot.

GBS

Jul 31, 2012
GoldmanBallSachs:

Blalock is a very under-valued WSO troll. I'm always glad when he decides to make an apperance.... keep up the good work.

On an actually relevant note: suing a bank for an "un-flattering" bonus would probably be the most asinine case since that bitch sued Dunkin because her coffee was too hot.

You're forgetting that the plaintiff won sizable damages that case.

Jul 31, 2012
<span class=keyword_link><a href=/company/goldman-sachs rel=nofollow><abbr title=Goldman Sachs&#10;>GS</abbr></a></span>:
GoldmanBallSachs:

Blalock is a very under-valued WSO troll. I'm always glad when he decides to make an apperance.... keep up the good work.

On an actually relevant note: suing a bank for an "un-flattering" bonus would probably be the most asinine case since that bitch sued Dunkin because her coffee was too hot.

You're forgetting that the plaintiff won sizable damages that case.

And that it was McDonald's

Aug 1, 2012
GoldmanBallSachs:

Blalock is a very under-valued WSO troll. I'm always glad when he decides to make an apperance.... keep up the good work.

On an actually relevant note: suing a bank for an "un-flattering" bonus would probably be the most asinine case since that bitch sued Dunkin because her coffee was too hot.

It was mcdonalds and I bet you didn't realize she suffered third-degree burns from the coffee...

Aug 1, 2012
JeffSkilling:
GoldmanBallSachs:

Blalock is a very under-valued WSO troll. I'm always glad when he decides to make an apperance.... keep up the good work.

On an actually relevant note: suing a bank for an "un-flattering" bonus would probably be the most asinine case since that bitch sued Dunkin because her coffee was too hot.

It was mcdonalds and I bet you didn't realize she suffered third-degree burns from the coffee...

yes. when people talk about this case, they ignore the fact that the coffee is super-heated some 30 degrees above what you get in your own kitchen. McD does this so the coffee stays hot longer after pickup at the window. you cannot get 3rd degree burns from your own kitchen coffee but the woman was fucked up pretty bad and deserved her payday.

when people start throwing the word "asinine" around, they should also look up "irony."

Learn More

7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.

Jul 31, 2012

I'm afraid the chickens are coming home to roost, guys. This is more and more becoming the rule and not the exception. Your bonus is that you get to keep your job. Sucks, but there it is. At least we'll always have our memories:


Investment Banker goes wild with Models and Bottles


LX.TV | Myspace Video

and

Jul 31, 2012
Edmundo Braverman:

I'm afraid the chickens are coming home to roost, guys. This is more and more becoming the rule and not the exception. Your bonus is that you get to keep your job. Sucks, but there it is. At least we'll always have our memories:

Investment Banker goes wild with Models and BottlesLX.TV | Myspace Video

and

Forget about AJ. I dig the second video. Are traders in NYC this hot? didn't know that.

"I already know I'm going to Hell. So, at this point it's go big or go home"

    • 1
Jul 31, 2012

welcome to wall street!

Jul 31, 2012

I've seen more than one person with compare able numbers..

2nd year base 60k?

Jul 31, 2012

I would be very happy with a 20K bonus

Jul 31, 2012

be happy you have the job. i would trade you spots in a heartbeat.

Jul 31, 2012

hire a lawyer? hahaha...u kids crack me up. my first bonus was $2,500. You are lucky to have a job...all an attorney will do is help himself to your meager bonus and laugh at you using lawyer-speak. Take your 10k after taxes and spend a good day at the pool in las vegas and drink to a better 2013.

    • 1
Aug 1, 2012

Well I know for a fact you are not at Morgan Stanley... and you said "top 3" so you are not at GS...
Thus JPM gave a 20k bonus to 2nd years?? That is pretty awful...

Aug 1, 2012

could you explain your situation a bit more?

you say you had already left before they paid you your bonus and now you are at another firm?

obviously the people they would screw over first would be the ones no longer there...

Aug 1, 2012

i'd like to interrupt this dumbass party here.

when you get that kind of bonus, they are really asking you to LEAVE. learn to read between the lines.

Aug 1, 2012

They are giving you an opportunity for a graceful exit.

Aug 1, 2012
melvvvar:

i'd like to interrupt this dumbass party here.

when you get that kind of bonus, they are really asking you to LEAVE. learn to read between the lines.

this

Aug 1, 2012

How is this guy supposed to make a down payment on a Porsche with a $20,000 bonus? 1% problems.

Robert Clayton Dean: What is happening?
Brill: I blew up the building.
Robert Clayton Dean: Why?
Brill: Because you made a phone call.

Aug 1, 2012

A few things:

  1. It is not impossibly low for a bonus, clearly you have done it so I would not call it impossible anymore
  2. Whether you tell us online or otherwise, you did something to piss someone off along the way and that is how this happened
  3. The fact that you actually considered hiring a lawyer to try and get back at your employer for paying you shit on a discretionary payout only makes this all the more believable.
  4. lol impossible

http://www.youtube.com/watch?v=TEpO8AUqHm0

Aug 1, 2012
Jul 31, 2012
orangejulius:

HE WORKS AT BARCLAYS

http://dealbreaker.com/2012/07/bonuslayoffs-watch-...

OP , you have been Libor-ated

Jul 31, 2012
<span class=keyword_link><a href=/company/goldman-sachs rel=nofollow><abbr title=Goldman Sachs&#10;>GS</abbr></a></span>:
orangejulius:

HE WORKS AT Barclays

http://dealbreaker.com/2012/07/bonuslayoffs-watch-...

OP , you have been LIBOR-ated

ha

If the glove don't fit, you must acquit!

Aug 1, 2012

That's really painful, committee. The number is just...ouch. I wish I could help or explain. Anyone have any meaningful input/explanation as to why the hell a $20k bonus even exists? Assuming OP was mediocre, I wouldn't give him a bonus at all. You're supposed to retain the best talent, not hold on to the so-and-sos

Greed is Good.

Aug 1, 2012

Hire a lawyer? Nah. You got straight shafted and there's nothing you can do about it. Read your contract.

Aug 1, 2012

Why did you move from a "Top 3" BB to another IB? Switching groups or staying on as associate?

While this is a weak move by the bank, it doesn't surprise me. It seems that banks no longer reward the LTM of work but whether you stay on and future expectations. So they figure if you're leaving, then screw you. I don't know if there is anything you can do about it though.

Aug 1, 2012

You know why they gave you only $20k? It's a message that you suck and you should quit. They were kind enough to communicate the message to you this way to save you face. Could have been worse.

Aug 1, 2012

what would you guys consider as a good salary and bonus for 1st year analyst at BB?

Aug 2, 2012

They obviously knew you were leaving. That's all.

Aug 2, 2012

Nothing op can do but thank his lucky stars he didn't get a zero. Lawsuit? Please.

40% of associates on my floor got zeros last year.

With such a poor business environment this year, juniors can expect worse bonuses next year.

After my bonus dropped I switched to a new bank and I got a promotion plus a bonus guarantee. So I am covered his year.

Aug 3, 2012

You're considering hiring a lawyer because your bonus isn't large enough? Are you serious? Perhaps a reevaluation of character is in order.

"You stop being an asshole when it sucks to be you." - IlliniProgrammer

Aug 4, 2012

You obviously haven't been around the block. Companies in all industries and govt agencies pull crap regarding compensation with employees - especially with those they want to entice to leave. It's discriminatory to pay someone less than someone else who had comparable performance on the basis that the company wants 1 person to stay and the other to leave. The bonus is supposed to reflect past performance.

All the OP needs to do is to prove that he performed at a higher level than his bonus would suggest. Exhibit A - the delta between his 1Y bonus and 2Y bonus even though he was given no indication that his performance slipped and the overall analyst bonus pool remained about the same y/y. Exhibit B - he finds out what his 2Y colleagues who stayed got.

I would definitely consult with a lawyer if I were the OP.

Aug 4, 2012
computerblue:

I would definitely consult with a lawyer if I were the OP.

OP: We at Sandhurst Discount Legal Partners believe that you have a meritorious case. If you act now, we are willing to waive our customary retainer, and proceed on a modest contingency arrangement.

Aug 7, 2012

$20k? Sounds like a bottom bucket bonus. BB banks have consistently given $20k to 1st and 2nd year analysts 4th (or 5th) bucket throughout the years. What was top bucket for 2nd year at your firm?

Jun 19, 2013

Assuming I understand correctly and you moved to another bank BEFORE you got your number, I would happy that you got ANYTHING at all. Why would the firm invest in you if you clearly already indicated you are not going to do the same? The fact that this is at all a mystery to you is baffling, but given that you are talking about hiring a lawyer, I guess it's not that hard to see why...the only reason I am posting a response here is so the young'ns reading this can learn how NOT to act and how NOT to expect the world to fall over itself trying to give you money for nothing.