Impossibly low bonus

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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?

Comments (64)

 
Jul 31, 2012 - 4:52pm

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.

 
Jul 31, 2012 - 5:13pm

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 - 6:22pm

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 - 6:41pm

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 - 5:14pm

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 - 5:20pm

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

 
Jul 31, 2012 - 5:22pm

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 - 5:25pm

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 - 5:29pm

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 - 5:42pm

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 - 5:46pm

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 - 5:55pm

<span><a href=/company/goldman-sachs rel=nofollow>GS</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 - 4:14am

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 - 4:34am

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."

 
Jul 31, 2012 - 6:28pm

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 Bottles

LX.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"
 
Aug 1, 2012 - 6:13am

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 - 6:32am

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 - 4:52pm

<span><a href=/company/goldman-sachs rel=nofollow>GS</a></span>][quote=orangejulius]HE WORKS AT <span><a href=/company/barclays-capital rel=nofollow>Barclays</a></span></p> <p><a href=http://dealbreaker.com/2012/07/bonuslayoffs-watch-12-barclays-2/[/quote rel=nofollow>http://dealbreaker.com/2012/07/bonuslayoffs-watch-12-barclays-2/[/quote</a>:

OP , you have been LIBOR-ated

ha

If the glove don't fit, you must acquit!
 
Aug 1, 2012 - 6:54am

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 - 10:47am

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 - 5:10pm

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

It's not about the money. It's about the game between people.
 
Aug 2, 2012 - 1:27pm

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 - 3:48pm

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 - 7:45am

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 - 8:25am
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