Just got my non-IB "bonus."

So, I've been working in an accounting function at a real estate firm for three months. My salary is 35K out of college. This has always been a stepping stone job, but after networking/applying to IB gigs for a year, I started to lose drive.

Well, I just got my "bonus." Granted, I'm fully aware I've only been here for 3 months so I'm surprised I'm getting a bonus at all, but I'm either being extremely ungrateful, or this is a joke.

My bonus? $250.

I have an interview with a boutique next week (finally!) and you can be sure I'll be studying my butt off.

 

People at Wal Mart get a larger bonus than that, every quarter.

When a plumber from Hoboken tells you he has a good feeling about a reverse iron condor spread on the Japanese Yen, you really have no choice. If you don’t do it to him, somebody else surely will. -Eddie B.
 

Not really sure what you expected for a bonus making 35k a year. You got more of a bonus than 99% of people that make that much.

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 
Falcon:
With 35K salary I hope you were not expecting bonus 90% of your base. But I think the reason you're disappointed is because you've been on WSO too much and hearing about all of those $10K+ bonuses made you think you were going to get one.

Get the vault guide and good luck on your interview.

Absolutely agreed - see my comment above. Was definitely NOT expecting a 90% bonus, or any bonus for that matter. Just puts things in perspective, is all.

 

^^^I think WSO has spoiled most people. A good amount of my college buddies thought they could land six figure jobs out of undergrad because of WSO. Most of them are now working at Big 4 and making $50k.

Array
 
TeddyTheBear:
^^^I think WSO has spoiled most people. A good amount of my college buddies thought they could land six figure jobs out of undergrad because of WSO. Most of them are now working at Big 4 and making $50k.
Exactly. I have seen this multiple times. I'm beginning to wonder if WSO/Vault.com/etc have completely deluded an entire generation of kids to think they would all be millionaires, and movie gods, and rock stars. But they won't. And they're slowly learning that fact. And they're very, very pissed off.
 
prospie:
TeddyTheBear:
^^^I think WSO has spoiled most people. A good amount of my college buddies thought they could land six figure jobs out of undergrad because of WSO. Most of them are now working at Big 4 and making $50k.
Exactly. I have seen this multiple times. I'm beginning to wonder if WSO/Vault.com/etc have completely deluded an entire generation of kids to think they would all be millionaires, and movie gods, and rock stars. But they won't. And they're slowly learning that fact. And they're very, very pissed off.
A wise man once said, "Snap back to reality, Oh there goes gravity"
 

I used to work at one of the big 4s. We rarely received bonuses and if we did, it was closer to $1,000 for the year. They work you like a dog and pay you less than that. Great experience and a great stepping stone, but that's not where the money is.

 

A buddy of mine got a 10 dollar subway gift card this year, so stfu.

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
 
Ben Shalom Bernanke:
Nefarious-:
A buddy of mine got a 10 dollar subway gift card this year, so stfu.

Ouch! Did he also happen to work at Subway? That sucks.

Nope - pretty shitty if you ask me.

His boss makes over 200k and is getting a 50k bonus for the year as well.

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
 

Had an almost identical situation my first job out of school too. Corporate finance/accounting role with a small company, mid-$30k base, the thought of a bonus didn't even cross my mind until the CEO dropped an envelope at my desk in December and said "happy holidays". It was $500, and to me a really nice gesture. I agreed to get paid a mid-$30k salary out of school and that was exactly what I was expecting, the $500 was an unexpected, you guessed it, bonus.

Now I'm in banking, I'm thankful for that job as it provided the stepping stone I needed, and while the $500 bonus pales in comparison to what I expect these days, it wasn't the same compensation culture as banking (most professions are not), where I was told $Xk base, plus a discretionary bonus. A bonus is something I expect now, and if I don't get anything/enough I'm p.o-ed.

 

Some firms prorate their bonuses according to the time you were there. Since you've only been at the company for three months, $250 works out to $1,000 for a full year, which isn't bad for an entry-level $35K accounting gig.

One louder.
 
Best Response
SymphonyBanker:
So, I've been working in an accounting function at a real estate firm for three months. My salary is 35K out of college. This has always been a stepping stone job, but after networking/applying to IB gigs for a year, I started to lose drive.

Well, I just got my "bonus." Granted, I'm fully aware I've only been here for 3 months so I'm surprised I'm getting a bonus at all, but I'm either being extremely ungrateful, or this is a joke.

My bonus? $250.

I have an interview with a boutique next week (finally!) and you can be sure I'll be studying my butt off.

Ouch! Sorry to hear that OP.

Literally scrolled several posts in thinking: "why the fuck are they trying to convince this kid to do the boutique interview when he's getting a quarter mil. bonus!?" I couldn't comprehend a $250 bonus, so I assumed it was $250k without second-guessing it. Shit.

Good luck on the interview, hope this bullshit helps light a fire in your belly.

“Millionaires don't use astrology, billionaires do”
 
Nouveau Richie:
SymphonyBanker:
So, I've been working in an accounting function at a real estate firm for three months. My salary is 35K out of college. This has always been a stepping stone job, but after networking/applying to IB gigs for a year, I started to lose drive.

Well, I just got my "bonus." Granted, I'm fully aware I've only been here for 3 months so I'm surprised I'm getting a bonus at all, but I'm either being extremely ungrateful, or this is a joke.

My bonus? $250.

I have an interview with a boutique next week (finally!) and you can be sure I'll be studying my butt off.

Ouch! Sorry to hear that OP.

Literally scrolled several posts in thinking: "why the fuck are they trying to convince this kid to do the boutique interview when he's getting a quarter mil. bonus!?" I couldn't comprehend a $250 bonus, so I assumed it was $250k without second-guessing it. Shit.

Good luck on the interview, hope this bullshit helps light a fire in your belly.

Want you to know that this comment absolutely made my day. $250K bonus? I hope there comes a day I can bitch about that.

To others - I think you're completely right about being spoiled. I shouldn't (and am not) really bitching about getting some free money. Like I said, I'm surprised I'm getting a bonus at all, and this is a stepping-stone job. I was by no means expecting a $50K check :) My point is that getting a $250 bonus is motivational when a few of you are getting 100-200X that amount, and I have an interview coming up. Inspires me to work that much harder.

Happy new year!

 

Quisquam facilis officia nisi facilis. Sint maiores sed magnam aliquid sunt iste. Molestiae magni distinctio sapiente tempora. Iure doloribus quibusdam aliquam et doloremque.

Reiciendis sequi perspiciatis officia aliquid sit non. Est voluptates tempora exercitationem. Illo laudantium vel dolorum voluptatibus ducimus debitis aut.

Magni autem vero neque suscipit quis voluptates. At maiores laudantium amet sed.

Beatae dolorem hic non officiis voluptates molestiae nisi. Minus adipisci commodi odio sed et blanditiis rerum. Mollitia nihil ea omnis ut labore hic.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”