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Hi! I just accepted a Relationship Banker II role in Allen, TX. My offer letter was 50k base and 1k guaranteed commission a month first year. I just graduated w a degree in Business Administration. Basically the info I got on how commission works was pretty vague. Anyway I wanted to see what someone I’m their 1st or 2nd year can realistically expect to on average make in commission a year in this role. Also what do bonuses in the role look like? I’m hoping to just hear some ballpark numbers! JPMorgan Chase JPMorgan Chase
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Oooh, this is in my vertical! Gift card purchases on corporate-liability cards are caught by something called Level 3 data - data about the transaction that card sponsors pay extra for which details line-item level tax and composition for a purchase. It's a variant of the technique that makes the purchased routing show up on the statement lines. Gift card purchases are VERY easy to flag this way. Be especially careful not to buy them at Office Depot/Staples/Max
That's the only way to pay for Starbucks on your phone 😁
I know multiple people who have gotten fired for that, but it's such a smart idea
I do it all the time. I am still here. Know others who do it too. Perhaps an EY thing?
DO NOT buy gift cards with corporate card at EY, you will be fired
How do they know? I buy them at CVS from time to time. Add on a pack of gum so it's not an even $25. Totally a "snack"
What do you get out of this? How are you manufacturing spending? You pay for a Chipotle gift card upfront instead of during the week, but the overall spend should be the same
People have been known to expense emergency tech/production services at Office Depot and really been hitting the gift card endcap. To the first point, it's inconsistent. Most grocery retailers don't support Level 3 data. Home Depot, Lowes, Office<X> - places where people are likely to get reimbursed for a purchase are most likely to rat you out. Virtually certain that buying a Chipotle card at Chipotle won't flag, or any other "on-us" card. The problems are really when you buy either refillable visa/mc cards or third-party cards.
Perfect, great to know. Thanks again @PwC!
The reason to do it for M$ is that you get a higher point bonus at where you buy the gift card. E.g. 5x with a Chase Ink at staples vs 2x at Starbucks with a CSP. Probably need to spend a lot at wherever your gift card is for to make it worth your time.
Yes for M$
Possibly, they are so strict with expenses @D2
@EY1: sorry to hear that.
ELI5 the point?
Yea I had friends get fired doing that too. Very easy thing for them to catch
@EY you guys keep saying people get caught and it's easy to catch. Do you know exactly how it's caught?
They tell too many of their "friends"
@D5 yes, easily flagged when you're putting round numbers on the Amex. And then through an expense audit they are able to call whole foods/Starbucks/chilies etc and get itemized receipts of what you got
Oh I thought that's very obvious. I usually buy something else to make it not rounded.
@PwC Thanks for a real answer! I usually guy grocery gift cards to save on groceries during the weekend. Is it flagged if the gift card is for in-house use? Also, there's no way someone moderately smart should expense meals from Office Depot lol. Can't believe you would even have to say it.