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If you'll be making that much more, and assuming you really want the new role, just forfeit the bonus. It'll sting to leave money on the table but you'll still be coming out ahead. If you insist on staying for the bonus, the new employer may read that as a bad sign and cut you loose. Doesn't seem like a risk worth taking.
Never leave money on the table.
It’s so funny they need the role “right now” nothing at JPMC is that time sensitive. If they really wanted you they would wait.
Exactly!
Forgo the bonus, imo. Or ask for a small sign on to temper the financial loss.
Ask for it as a sign on bonus
Take your annual leave and collect your bonus. Bonus i believe you earned
It is about what you value more. Sounds like you need to decide if the short term loss values more to you than the long term potential and your owkn risk tolerance. If JPM truly wants you 2 weeks should not be a big time to wait. Maybe if you discuss the need for this cash JPM may work with you. My personal choice would be to kiss the bonus good bye. Afterall you will earn that in 6 months.
Ask if they can offer any signing bonus
Question is how much do they want you. If they do then they'll either A. Wait until you get your bonus or cover a portion of it like maybe half of it as a sign on bonus. I am not telling you to take a chance with your life but I question if they are bluffing about it going to someone else. How much time do you even need? 4 weeks (including the expected 2 week notice)? If it's less than 4 weeks then there's no reason they can't wait. If it's more than that, then I guess I could see them pushing back but $20k all at once is nothing to sneeze at. Id probably be pushing back myself tbh
You can ask JPM for signing bonus.
The bonus would be taxed heavily anyway and I feel like the raise would makeup for it . I know it’s a hard pill to swallow but you’re leaving for a reason. I wouldn’t miss your opportunity to leave
Insist that they pay it out on the front end. If they’re not willing then you’re stuck.
Take the bonus!!! Your worked hard for it!!! If the job is still there it was meant to be. Then if the job is still on the table let them know you're being offered 45k more. Who knows?
I say get out of the corporate rat race take that 20k bonus and invest in yourself. I can show ypu how and ahow you the model. You will never truly make the $$$$$ you want to make working for someone else or have the freedom to take your time back.. You could make more in 2 years working for yourself than 10 years worlking a corporate environmemt trust me 1st hand I know plus its nice not not be under someones thumb. Build something for yourself long term that nobody can take from you.
It’s normally negotiated as a ”signing bonus” when you leave your anticipated bonus to join a new company. It is very common in Q1.
In alot of investment banks, you need to stay in the role for 3-6 months afetr receiving it in order to not have to return it. It was this when I was at BofA & Citi, be sure its not the same at your current company.
Typical JPMC. Get used to it if you take the role
After reading through the comments, it feels like maybe they've taken the forfeited bonus into consideration in their final offer? $45k is a pretty substantial bump, don't forget this will be your new base for next job so I'll take it if there really isn't any other room for nego. Net net still positive in your favour.
Not sure about the practice in NYC, in Singapore, if you are serving notice before bonus is paid out, your bonus will be forfeited even though you have received the bonus letter, hence HR usually receive all the resignation letters on day of bonus payout (once money is wired). Then the employee has to serving notice which can range from 1 - 3 months; too long a wait for future employers.
In those situations, new employers will either give a sign-on bonus, or buy out your notice period, or embed this in your new package.
Is your notice just 2 weeks in NYC and it's still pretty far away from bonus payout?
Just 2 weeks but bonus is in Feb meaning I’d have to start March but JPM really isn’t trying to wait
45k >25k
Wait for your bonus. You worked very hard for it. I was let go from JPMC two months before my bonus…blindsided and totally shocked
Chase bonus drops off after the 1st year so keep that in mind. What function and LOB will you be in?
My first year was my highest bonus never got above that again.
Your new salary is a lot more than the bonus, so go for the new role. Your bonus will get taxed like crazy anyway, so you’re better off with the new role at the higher salary.
Agree with going to the new offer, but want to caveat and say that the withholding of tax will be higher, not that it is taxed more. When filing that will be washed out.
Can they do a sign on bonus to compensate for you forfeiting your bonus?
They said no unfortunately