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    Am in the process of negotiating a lateral move BB to BB (currently 2nd year Analyst, would be moving in as Associate).

    Have got to the point of discussing comp, and just been told that there's a new firm wide policy of not guaranteeing full year bonuses (since any agreement pre-April '10 would be caught by the payroll tax). Apparently the best they can do is a relatively small sign-on and an informal oral agreement from one of the relevant Co-Heads with respect to the bonus proper - i.e nothing on paper until at least after April.

    Just wondering if anyone else is experiencing this at the moment?

    Not overly concerned since I was specifically headhunted by one of the senior guys, but a wee bit worried because, at the end of the day I've basically lost all leverage once I've made the move and, knowing what bankers are like, it's entirely possible they're just BSing..
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    I think you should talk to a recruitment consultant / senior people using your school's alumni database that may be in banking / other people you know in the industry. Don't think people in this forum are experienced enough to comment. And those who do get a job in IB stop visiting these forums. You could try wallstreetoasis.

    Good luck!
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    (Original post by sisyphean)
    Am in the process of negotiating a lateral move BB to BB (currently 2nd year Analyst, would be moving in as Associate).

    Have got to the point of discussing comp, and just been told that there's a new firm wide policy of not guaranteeing full year bonuses (since any agreement pre-April '10 would be caught by the payroll tax). Apparently the best they can do is a relatively small sign-on and an informal oral agreement from one of the relevant Co-Heads with respect to the bonus proper - i.e nothing on paper until at least after April.

    Just wondering if anyone else is experiencing this at the moment?

    Not overly concerned since I was specifically headhunted by one of the senior guys, but a wee bit worried because, at the end of the day I've basically lost all leverage once I've made the move and, knowing what bankers are like, it's entirely possible they're just BSing..
    Tax is on 'discretionary bonuses', push for a guarantee. However, 'guarantees' could still have loopholes, so read carefully.

    If your bank is going to spread the bonus tax globally, then you will have more leverage in the negotiation.
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    WSO's a far better place to be posing this question...
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    Agreed with the above. Ask your question here http://www.wallstreetoasis.com/forum/investmentbanking
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    Cheers guys - question now up on WSO.

    Used to post here under a different username many moons ago. Seem to recall there were a fair few experienced IBers back then..?
 
 
 
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