Have you heard of banks clawing back year end bonuses? Our group had a historically bad year and this year's bonus would be clawed back if I leave within the next year... Continued below

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It depends on the terms laid out in your offer letter / employee handbook. I suggest reviewing those first!

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My firm has it in our employee handbook along with all the other internal policies. If you work for a smaller company I can see it being tricky to track down tho. And just remember - HR is not your friend...

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Yes, it certainly happens Evercore is known for this

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I'm also leaving for a new job in 4 weeks. It seems like no matter what I do, I won't be able to collect the cheque. Feeling pretty down since it's my first bonus and I was looking to pay off my student loans. Any tips?

They can pretty much tell you that you wouldn’t get a bonus but you can voluntarily get to accept one with clawback provisions attached, even if not in your contract. Bonuses are discretionary after all. I haven’t seen bulge bracket banks do this, but certainly smaller shops and some of the European banks.

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