I am looking at a job in New York that offers a massive sign on bonus. It's a decent amount of money and I could still commute the in-office days from my home in CT. BUT I'd have to pay it back if I leave within two years. Are these kinds of bonuses just traps?

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Isn’t that how every sign on bonus works? You have to pay it back if you leave within x time

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Yes

They’re pretty standard. They work a couple different ways. Either up-front with a claw back or vesting over time. Which is better is up to the individual. Mine was equity grants that vested over time.

Both have the same end goal from the employer POV. Keep the asset around long enough to pay off. The key is what happens if you’re fired or laid off.

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Currently a Wealth Advisor for Citi but I honestly hate it here with a passion it’s the worst company I’ve ever worked for in my life and I’ve been in Wealth Management in the banking channel for over a decade. Series 7, Series 63, Life, CFP, ChFC, and soon to have my MBA with a focus in Mergers & Acquisitions. I’m look to enter another area of Finance at this point instead of starting over somewhere else from scratch, but not sure what direction to go. Interested in Investment Banking or M&A.

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