BCG fish, when is your year end? How late is too late to join to be considered for an annual bonus or raise?

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Raises happen based on tenure/promotion and can happen any month (except for partners/director). Broadly, performance/tenure determine a bonus % which gets applied to whatever “eligible" salary you’ve earned that year as of Dec 31. So even people who join in the fall get a bonus, it’s just a fraction of people who’ve been there all year.
Might be a few nuances or caveats I’m forgetting but that’s the gist for the US at least.

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BCG1, when do promos happen? And how long does it take C to PL?

There are few timing frictions in the system. Raises and promos happen relative to YOUR anniversary, not a fixed cycle. You can’t “miss the window.” Bonus is prorata based on start date. If you start Dec 15, you’ll get a smidge of a year end bonus.

No idea why other firms do anything different than this

The one exception is if you leave before bonus pays. You will get reduced, but not necessarily zeroed. You still get retirement though. P

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