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It’s normal OP. Not sure if you’ve heard stories but it’s part of the reason a lot of people got screwed the past year or so bonus wise. The firms aren’t legally obligated
Nice! It should be awesome. Check this out: https://www.google.com/amp/s/www.wsj.com/amp/articles/for-bankers-2020-was-a-bad-year-to-have-a-good-year-11610034822
Firms were pitching a ton during 2020 hoping for deal flow so more hours, negative outcomes, and flat or declining bonuses. But there’s also the positive side which banks are going through now since companies have PPP, are generating revenue, etc so a lot of banks are offering higher bonus potential. I think it’s a waiting game for the dust to settle and things will normalize with more time
In principle bonuses are discretionary - But I know for a fact they always include them in offer letters for consulting positions. Does this differ in IB?
My offer letter didn’t include a % amount, but it said that they will pro rate and award I’m eligible for in the year that I start. It then went on to say that I am eligible for the annual bonus program as per their policy.
Was that an offer for KPMG or IB?