{ "media_type": "text", "post_content": "Any experiences leaving a company in less than a year and having to return your total sign in bonus? I only got around 50% net of the bonus (NYC taxes are brutal) and understand company will demand me to pay full gross value back. Are there any tax workaround to get that money back on my Tax Return? Deloitte EY Accenture KPMG PwC", "post_id": "61ad7640bd2d77003236c3f5", "reply_count": 25, "vote_count": 6, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }
like
Posting as :
works at
You are currently posting as works at

Understanding this isn’t what you were asking, how close to the year mark are you? What’s the difference in the reason for leaving that’s so appealing you’d consider paying back the bonus?

like

5 months away. Higher paycheck. I could use the new sign in bonus to pay half of old one and would need only the equivalent of 3 months of the additional income to payoff the rest. So worth making the move without waiting.

like

Lol following!

like

Isn't it f*ed that they don't pro-rate it anymore? Feels like modern indentured servitude

like

People accepted indentured servitude too.

I looked into this myself as I was contemplating a move before my mandatory 2 year period was up. Based on what I found, think you are totally screwed. Your bonus is taxable comp in year received, and in following year, as an individual, you have no basis for a deduction for year 2 payback.

like

Thanks!

helpful

It was my understanding that if it’s paid back in the same calendar year, only the net amount needs to be paid and the company needs to amend their 941. If it’s paid in a subsequent year, full amount is paid and deducted from wages

like

If it is in the same year, then it is easy it just doesn’t count as income and your taxes at the end of the year will be fine. Witholdings will come back as an over payment. If you received it in one tax year and return in another that is tricky - get tax help. Also - move out of NYC, not worth the taxes to live there.

like

Why have you tagged all companies?

You’ve effectively prepaid some taxes but in your 2021 return it should get straightened out

Ultimately for your tax return you pay income tax over what you earned. What you paid back should come out of it. You have to ask it to be reflected in your W2

Don’t take PTO, use your PTO money to pay it back

Related Posts

Guys, need suggestion on below two questions - 1. If you are already holding offer, why you still looking change. 2. What is you expected salary(Is it good idea to tell them figure or range)

How much salary could I ask for for band 30 Sr analyst product development role? Exp: total exp 4+ years + full time mba IIM

Base salary for Level 2 SC in ESG/Sustainability at Deloitte in Chicago, non-MBA? Currently unemployed, recovering engineer and new to consulting. Recruiter said mid-range is $75-90k and he could throw in a $3k signing bonus.

like

PwC newly promoted tax manager salary with masters?

like

Salary range for people advisory services senior? With Mba

like

After a year in public accounting, I’m thinking this ain’t it for me. When we were in the office and on site at clients it was amazing, but I have been doing all my audit work from home since March and feel like I haven’t learned anything, and every day is miserable. I have one CPA exam section left and I honestly just want to collect my $5k bonus and bail. Do you think they would try to recollect that money if I were to do that? Things could change, but I’m looking at this possibility.

likefunny

Looking at a few opportunities at Guidehouse. Is their comp band for Directors similar to PwC’s?

like

Hi, I need some help. I have 5 yr of experience in consulting. Expecting an offer from Capgemini (invent). Any insights on how much (fixed) salary shall I expect ? Current fixed is 14 LPA. Capgemini

like

Any inputs on how much comp a newly promoted manager who joined as an SC out of business school can expect ?

like

Just got engaged 😊😊. Need some advice. We both have two homes already. 1. Is it always better to get a third home ? 2. If yes, is better to rent out or sell the other two homes? Both homes mortgages are $1250 & $1450 and 1500 sqft & 2200 sqft respectively. Both homes are 3 bedrooms. 3. If we are getting a third home what price range is recommended? We are based in Houston and HHI is going to be $380,000(including bonus & rsu) & $300,000 base. We are 27F & 30 M and no kids yet.

like

I work for a startup, and when applying for a car loan realized that I'd been underpaid by 40% for the past two months. Someone had mixed me up with another person at the company and adjusted my salary 60k down. Is there any interest adjustment I can ask for? Mostly I feel slightly offended that this was so easily overlooked.

like

What's average comp for an SA3 or first year manager at Deloitte? Thinking of making the jump, but realize it may be better to come in as a senior associate b/c it is harder to get staffed as Manager.

like

Joined on august 2021, have 82% utilisation. Performance review is good have snapshots and scatterplot displayed i am on the top right corner. Designation is analyst. Coach & lead decided my milestone year should be 2023. My ctc is 9.5lpa Questions: How much bonus I will get? How much hike should i expect? When can i expect promotion?

like

Anyone have an idea of a Pwc Senior Associate salary in Los Angeles ? 4 yoe

like
smart

Does anyone have an idea of the range of compensation for a pwc manager in dubai?

like

Have an interview for Deloitte digital tomorrow - any help on salary expectations for a SA would be appreciated plus any tips!

like

How valuable are the salary insights that recruiters can provide? I’m just starting to apply to consulting and startup roles. I could easily apply to some of them myself, but I don’t have a good feel for the pay because these are new/smaller companies.

like

I might be doing some contract work for a small corporate law firm in nyc. What’s a fair hourly rate for 10 hours of work a week Aprox 5 years of experience. Non big law been in house for my entire career so no idea of the hourly rate.

like

Additional Posts

Any Lifreay developers here? Want to discuss few points

Does anyone know the billable hours goal for managers at EY?

likehelpfulfunny

Hello fishes, got an offer from KPMG Global Services, Mumbai as Consultant - SPI (within Deal Advisory). Can anyone help me know the quality of work, work culture and wlb ? Other offers I have - ZS Associates - Business Operation Associate Consultant, Mumbai. Quantiphi - Senior Business Analyst, Mumbai.

What’s the maximum salary an Analyst is getting today in market? YOE - 3 yrs

like

Comp range of US Healthcare insurance consultant with 6-8 years of experience?

like

currently on a very disorganized project that I really want to roll off. How to roll off without burning the bridge?

likehelpful

Does MBB recruit at Associate Partner level (or eq level of one below partner) from other consulting firms? And if yes, how long is their path to partnership and challenges?

like

Did anyone here get their O1 stamped in their passport lately? If so, in which country?

like

Are people dropping the Chase Sapphire Reserve? If so, what are you doing with the points (have 100k points and wondering if I should take the cashback and downgrade the card).

like

Any tips to prepare for Deloitte ARA and EY FAAS interview?EY Deloitte

like

Want to capitalize on this good job market—what are the “best exits” for someone with product innovation and traditional growth strategy experience? Best in terms of pay and culture

like

Hello fishes, have an interview coming up at Amazon for a Senior Procurement Manager role. Anyone have any insight into the potential comp range and culture?

like

33 year old with MBA thinking about a career change from financial services consultant to certified financial planner. Any advice?

likesmart

Is it possible to become a senior software engineer too soon? I’m coming up on one year at a startup as my first job out of college, and a promotion to senior dev seems to keep being brought up without me even suggesting it. Though I’ve taken on large ownership roles and have learned quickly, I can’t help but think senior dev in ~1 year dilutes the value of it.

likefunny

Based on your client experience or otherwise, what is the one job/industry you think is best to work and retired? Main variables are salary, job security, wlb and overall interest?

like

Very interested in the MBA internship at Analysis Group. Anyone willing to refer? (I already applied a couple days ago) Analysis Group

like

There are no conservatives on here discussing Bolton news because they’re all awaiting new talking points from Fox

like

Visa inputs - I am going to IN to get visa stamping (and yes other reasons amidst covid travel). Have my drop box scheduled (extension within same company). Have folks experienced any delays with stamping, what’s the turnaround if you are called for interview? Any insights on prep will help. TIA

like
like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal