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At the moment it’s actually both
What is your hours worked to hours billed ratio?
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I personally would not burn that bridge - it’s a small world. You chose to leave so just pay it back - it speak volumes about character.
Is the $10k you owe pro-rated? And I presume you verified that what you owe is post tax, not pre.
I’d contact them and see if you can work out a payment plan - which they may not bite on but it can’t hurt. The longer you wait, and the more they chase the less inclined they’ll be to cut you slack (if that’s even on the table) - which you already know.
Expect to have Tony come break some thumbs. But no ... seriously. Pay it back. It's not yours. You signed a contract saying that.
This is most likely to be turned over as a bad debt to a collections agency, with the associated hit to credit score even if settled thereafter.
M1 every company I’ve worked at (7 so far in 24 years) has had a time of service contingency on signing bonuses. Some of those bonuses have been pretty sizable, so if I could just collect them and immediately run to another job, there would be little incentive for companies to give them the way they do today. PwC’s is usually prorated with full “vesting” after 12-24 months depending on role and whether it was negotiated.
If you leave PwC prior to it vesting, you’ll be billed for the prorated amount, and like any other bill, if you just ignore it, it will eventually go to collections. I would also assume HR would know that if you later wanted to boomerang back.
Wanted real life examples not guess work. I am aware of what they can and cannot do. But dont they really do it is the question. Any personal experience?
They will do a clawback and may reach out to your current employer. Worked on a project like this where we clawed back the money. Save your name and your ethics some stress and just pay it back as agreed in the contract.
Manager2- they cannot withdraw from bank account. Only IRS has garnishment rights. They will lawyer up and get the money.
Never said they would, only that it is technically possible
Remember they have your social security number. Could hurt your credit score. Besides, didn't all that ethics training rub off on you just a bit?
Take it easy guys. We are discussing possibilities. Read above why I wanted a extension. This is more than Morals.
Thanks everyone for the response. Pwc got back to me and said it was a glitch on their end to not ask for the money back sooner. I explained them my situation and they agreed to give me 2 months to collect the cash. One good thing is they will not ask for the tax I already paid as part of the bonus payout initially. So i owe them the amount post tax which is less than 10 k.. got some nice responses though. Some people jumping on conclusions and moral policing, but its democracy. In this case a faceless democracy so thank you.
They've got lawyers on retainer. I suspect they'll get it back the easy way or the hard way. But maybe someone can speak from actual experience.
Technically they can withdraw it from your bank account assuming they paid it through direct deposit and you still have that bank account. Not sure how legal it is in all states, but very possible
This is absolutely not true. Lol
Don’t be a jerk. Return your phone, return your laptop, settle your Amex before you leave and pay your debts.
You aren’t screwing over the company - you’re screwing over a low level non-consulting peon like me who makes a fraction of what you did post-MBA. A human being has to chase you down and notify Legal. Be decent, please
Possibility not mentioned is a personal lawsuit against you. You will have plenty of warnings before it happens, but if you continue to play dumb, one day you will be handed a court summons and things will get serious very quickly. That is going to cost you a lot more than 10k
Sorry but who says ‘I bet they don’t actually want the 10k back that they are contractually entitled to.’ Not to be a jerk, but your fault for not clarifying and making sure before you spent it. Why would you spend money that isn’t yours anymore and then debate ways to get out of repaying it?
Yeah. They can come back anytime they wish like it happened to me after 8 months.. its stupid to not ask someone to pay back when they leave. In had accrued about 20k worth pto when I left. If I were them I would simply cut the bonus and give me 5k. No one is trying to be a jerk here. But I wanted to know if anyone has faced this. I got a response from pwc. They agreed to wait 2 months but thanks for the response.
You think they don’t want it? We all want it. Give us our money back. You chose to quit and probably get a sign on bonus elsewhere.
The fact you chose to spend it on a down payment is absolutely irrelevant to me.