I am in the process of leaving BNY and I have been employed less than 12 months. My contract states I must pay back the signing bonus after receiving written warning from the bank.
Has anyone had experience with this. Does BNY send written warnings, or sue if you don't repay the bonus
We pay our analysts signing bonuses when they come in from college. It’s not an unusual thing in front office. I think it’s like $10K or something in that range. All our peers for these roles do this as well and often pay more than we do.
Never leave before a bonus hits your bank account. I was a star and retired and they stole my bonus. If I had it to do again I wouldn’t have followed the good leaver guidelines.
Build that into the signing bonus from your new employer.
Yes. You will have to pay back pre-tax amount.
I was leaving and owed tuition reimbursement. You get a letter in the mail with a short due date to pay. Never cash in that signing bonus until you are solid. Instead, I put my signing bonus in with some investments to hedge against inflation until I cashed out.
Must be a director or MD
Wow we pay signing bonuses?!?!?
They will absolutely claw it back, and I believe pre-tax too. Heard about one a few years back. Recent grad signing bonus
Leave. it’s worth it.
Congratulations on getting out.