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That Friday feeling...
How often do y'all pull all-nighters?
What does a VP1 make all-in in IBD?
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Iāve come and gone 2x from there now.
You can negotiate base and annual bonus. 1st year the bonus is 99.9% guaranteed; after that itās up to them. They usually donāt go down on bonus from what I hear, but never been around long enough to see it.
The base can be negotiated with the band they have for the role, region, and YOE. Anything out of band typically requires an upper level LOB MD level approval.
Stock is generally not negotiable unless your bonus is large enough e.g. $50k+.
There is no profit sharing.
Sign on bonuses are rare except for front office and key tech roles, but not unheard of.
Negotiate everything you want up front; raises can be very minimal even for top performers, because like most banks you have to rob Peter to pay Paul more.
I started there 6 years ago, left after 2 at a relatively low position as an analyst. Knew there wasn't stock for me, and had connections there to guide me. Obviously get as much salary as you can, but if you plan on staying there long NEGOTIATE YOUR BONUS % BASE. I came in with a few from my masters cohort in different orgs. All had at least similar base, but I came in with a 10% bonus, and theirs were 5 and 3%. All same level. Your bonus % stays with you, you can always negotiate more salary jumping laterally. But if you're promoted with a 5% bonus, they'll likely give you a 20% bonus at a VP level, if you come in at 10%, you're likely to get 30-35% with a promotion.
This is helpful thank you AVP1!
You usually negotiate with your base salary. In my current company my sign-in bonus is fixed so I can't really do anything about that. Everything is explained to you once you get an offer then it will be up to you to decide to whether accept it or not.
As far as I know, you can only negotiate for the salary base. The bonuses are already fixed. Except for the annual bonus, you cannot negotiate the other bonuses.