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No, what you paid back gets taken off your taxable income so you get the appropriately sized deduction. Some give and take based on tax bracket and what not but usually comes out fairly
I've heard that PwC doesn't aggressively enforce it, but that's mostly heresay, can't guarantee it.
When I left ibm prior to the 1 year cutoff for keeping my signing bonus, I had to return all of it. There was no proration.
I've been waiting 3 months now for PWC to come knocking
Would love any experiences or tips!
You have to give it back, no way around it
Yeah I guess my question really is “do firms enforce the signing bonus takeback”? I just have no experience with that...
I’d imagine it’s done automatically based on last paycheck / PTO balance, etc. The responsibility is on them, though, so if they don’t come knocking don’t ask
All of them, it’s standard practice if you don’t meet the contract rules you pay the fee stated in the contract
Not big 4 but this is the case as well at Accenture (prorated) and industry I came from (high tech). Seems fair given a sign on bonus is usually substantial and you’re leaving within a year
Normally you would have to pay 50% if you leave after 6 months
Since you’re taxed almost 50% on bonuses, you essentially lose money in paying it back in full. Isn’t that accurate?
All of them have this clause (unless you are able to negotiate a different offer).
Very very common practice but your details are in your offer letter
Understood that the payback terms are standard/common, but how many people have had any payback actually enforced? That’s what I’m asking. Also, do I bring it up or just submit my 2 weeks and hope that nobody comes asking?
Why would you willingly bring up that topic lol
Op - answered your last question before you asked it.