When are annual bonuses paid?

I am starting out as an associate in a BB later this month. May I ask when annual bonuses are paid (received in bank account, rather than announced)? Do the dates differ significantly between banks?

Further, are they paid out all at one go, or are they paid out in several tranches?

Comments (12)

Jul 8, 2008 - 8:19am

For us, it is the next paycheck following the day you find out. Paychecks come everyone couple weeks.


Jul 8, 2008 - 11:39am

sorry for asking a dumb qn, are bonuses taxed?

um... Yeah, they are. Although I think they should gross-up sign-on bonuses just to show how nice they are.

Has anyone successfully negotiated a gross-up sign-on bonus? (Im assuming this would only be even remotely possible at a MM)

Jul 8, 2008 - 11:47am

My one friend was in fact offered a gross-up sign on bonus.
He started straight out of college at one of the asset managers that isn't an arm of a Wall Street bank.

Jul 8, 2008 - 3:30pm

Depends on the bank. Goldman is usually the first out of the gate, so if they announce in mid-December then you'll get the pay in your account usually within 3 weeks. On the tail end you have the European banks, so Barclays, CS, and UBS all usually pay sometime in early to mid-February, and then it's in your account 3 weeks later.

Either way, when you get your bonus they should tell you the exact day it will be in your account. MDs typically joke that here's your bonus but it won't be in your account until X day, so plan your resignations accordingly....

Jul 8, 2008 - 4:09pm

ABN AMRO - Bonuses announced Early February, Paid Early March

Bank of America - End of January, End of February

Barclays Capital - Late January, End of February

Bear Stearns - Early December, Mid January

BNP Paribas - End of January, End of February

Calyon - End of February, End of March

CIBC World Markets - Early December, Late December

Citigroup - Mid January, End of January

Commerzbank - 1st week of March, 15th March

Credit Suisse - End of January, Middle of February

Daiwa Securities - Early / Mid-April, 1st May

Deutsche Bank - Early February, Mid-February

Dresdner Kleinwort - Mid-December, End of January

Goldman Sachs - Early December, January pay day

HSBC Investment Bank - End of January, End of February

JPMorgan - Mid January, End of January

Lehman Brothers - End of December, End of January

Merrill Lynch - Mid-January, End of January

Morgan Stanley - Mid-December, End of January

Nomura International - Early April, End of April

Rabobank - End of Feb, Mid-March

Royal Bank of Scotland - Capital Markets Early December, Mid-December. GBM early March, mid-March

SG Corporate & Investment Banking - End of January, End of March

UBS Investment Bank - End of January, End of February

From Hereisthecity: http://news.hereisthecity.com/news/business_news/6174.cntns

Jul 8, 2008 - 4:10pm

When are bonuses? January or July? (Originally Posted: 10/17/2012)

Do boutiques give out their bonuses in January? While most MM and Bulge Brackets give out their bonuses in July correct?

I'm just wondering because if you are trying to lateral right after bonus is the best time for that.

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