Bonus Season

[brain_wash_your_face]

In Prague if you can catch a midnight pipe organ recital at St. Vitus Cathedral I highly recommend it. It was the second most Dracula thing I’ve ever seen. It was actually the most memorable part of the trip, and my college roommate lives there as a pretty big-time fashion photographer.

[AbrahamIsaac]

Budapest is tight. I got my balls drained there a few times.

[Yayyywork]

@brain\_wash\_your\_face

In Prague if you can catch a midnight pipe organ recital at St. Vitus Cathedral I highly recommend it. It was the second most Dracula thing I’ve ever seen. It was actually the most memorable part of the trip, and my college roommate lives there as a pretty big-time fashion photographer.

nice ill add it to the list thanks!!

[ltj]

@Yayyywork

@ltj

Yeah paying for a wedding (ugh) and a honeymoon. We’re headed to Germany, so that should be fun at least.

where in germany? wanted to hit up munich this year but going to save that for another trip. thinking amsterdam & prague for this year

Yep, Munich. Doing some WW2 tour stuff. Bavarian Alps. Cologne/Rhine Valley. Then I think we’re in Frankfurt for the last night before we fly back.

[Yayyywork]

nice enjoy! very excited to hit up some munic beer halls & get some bavarian pretzels myself

[igor555]

hit up munich for oktoberfest, best time ever

[el_macca17]

@ltj

@Yayyywork

@ltj

Yeah paying for a wedding (ugh) and a honeymoon. We’re headed to Germany, so that should be fun at least.

where in germany? wanted to hit up munich this year but going to save that for another trip. thinking amsterdam & prague for this year

Yep, Munich. Doing some WW2 tour stuff. Bavarian Alps. Cologne/Rhine Valley. Then I think we’re in Frankfurt for the last night before we fly back.

Which battles/sites/army are you following in particular?

[ltj]

@el\_macca17

@ltj

@Yayyywork

@ltj

Yeah paying for a wedding (ugh) and a honeymoon. We’re headed to Germany, so that should be fun at least.

where in germany? wanted to hit up munich this year but going to save that for another trip. thinking amsterdam & prague for this year

Yep, Munich. Doing some WW2 tour stuff. Bavarian Alps. Cologne/Rhine Valley. Then I think we’re in Frankfurt for the last night before we fly back.

Which battles/sites/army are you following in particular?

Nothing set in stone yet. I think we’re near Dachau when we’re in Munich. Definitely up for suggestions if you have them.

[igor555]

newschweinstein castle

[krnyc2008]

@Yayyywork

@ltj

Yeah paying for a wedding (ugh) and a honeymoon. We’re headed to Germany, so that should be fun at least.

where in germany? wanted to hit up munich this year but going to save that for another trip. thinking amsterdam & prague for this year

Would recommend Prague for a few days. Just came back from a long weekend there - very romantic!

[Sweep_the_Leg]

I recommend Branson, MO. Though, I admit, it has gone a bit downhill since Yakov Smirnoff stopped performing nightly.

[rawraw]

I’ve seen Yakov 3 times !

[Destroyer_of_Worlds]

@AbrahamIsaac

Hit then quit fools

As OJ’s attorney famously said, if it didn’t hit, you must’ve quit…too soon…

[igor555]

@krnyc2008

@Yayyywork

@ltj

Yeah paying for a wedding (ugh) and a honeymoon. We’re headed to Germany, so that should be fun at least.

where in germany? wanted to hit up munich this year but going to save that for another trip. thinking amsterdam & prague for this year

Would recommend Prague for a few days. Just came back from a long weekend there - very romantic!

do tell. whos the lucky fella?

[numi]

@comp\_sci\_kid

@ohai

I thought only DB did not give bonuses to everyone. But anyway, a lot of banks this year are claiming that they’ll create higher dispersion of bonus values between high performing and lower performing employees. I hope they actually do this. Of course, there’s going to be a pretty high potential for butthurt, as every person thinks they are a high quality person even when they are not.

Should have done it long time ago

My firm (buy-side) also made it a point over the last couple years to highlight the importance of creating dispersion in compensation, so that it would be more directly tied to individual results. I am not so sure about the idea of “zero bonus” because that is really quite deflating, though I guess that speaks to the unfortunate circumstances that DB is in. Nevertheless this is a meritocracy business and I agree with the general practice of compensating for individual performance, and helping people understand that the main determinant of compensation is their individual performance (barring something like a 2008 meltdown).

To the original poster’s question, definitely wait until the bonus hits your bank account. I once resigned from a position a few hours after the funds hit my account. I can understand the immediacy of one’s resignation could be taken negatively, but if you don’t care about the bridge being burned then don’t worry about it. More importantly, I always think about year-end compensation as stuff that I had earned for an entire year so whether I left a job a few hours, a few minutes, or a few weeks after it hit my bank account should not factor into my decision on when to resign.

[comp_sci_kid]

@numi

@comp\_sci\_kid

@ohai

I thought only DB did not give bonuses to everyone. But anyway, a lot of banks this year are claiming that they’ll create higher dispersion of bonus values between high performing and lower performing employees. I hope they actually do this. Of course, there’s going to be a pretty high potential for butthurt, as every person thinks they are a high quality person even when they are not.

Should have done it long time ago

My firm (buy-side) also made it a point over the last couple years to highlight the importance of creating dispersion in compensation, so that it would be more directly tied to individual results. I am not so sure about the idea of “zero bonus” because that is really quite deflating, though I guess that speaks to the unfortunate circumstances that DB is in. Nevertheless this is a meritocracy business and I agree with the general practice of compensating for individual performance, and helping people understand that the main determinant of compensation is their individual performance (barring something like a 2008 meltdown).

To the original poster’s question, definitely wait until the bonus hits your bank account. I once resigned from a position a few hours after the funds hit my account. I can understand the immediacy of one’s resignation could be taken negatively, but if you don’t care about the bridge being burned then don’t worry about it. More importantly, I always think about year-end compensation as stuff that I had earned for an entire year so whether I left a job a few hours, a few minutes, or a few weeks after it hit my bank account should not factor into my decision on when to resign.

Correct, but isnt “Hit my account” is just a gospel? Were there any real instances of big investment banks clawing back bonuses, when resignations happened AFTER announcement?

[hpracing007]

I don’t know about finance companies or investment banks but back in my pre-finance days, it was a well known among those in the industry that if you leave, you will not be paid your outstanding commissions due. 2 out of 3 companies I worked in that industry did not pay me my full amount, amounts that are disclosed in vouchers (the “announcement”). One of my co-workers challenged them and they said to sue them if he wanted to get paid. And that was over a few thousand dollars. Saw it and experienced it. You coast until the money hits and you leave. Men lie, women lie, numbers (in my bank account) don’t lie.

[ohai]

Realistically, once you get your bonus in writing, the company is not going to renege if you express intention to quit. However, if seeing the deposit removes the last bit of doubt and gives you peace of mind, that’s up to you.

[Isaiah_53_5]

@hpracing007

I don’t know about finance companies or investment banks but back in my pre-finance days, it was a well known among those in the industry that if you leave, you will not be paid your outstanding commissions due. 2 out of 3 companies I worked in that industry did not pay me my full amount, amounts that are disclosed in vouchers (the “announcement”). One of my co-workers challenged them and they said to sue them if he wanted to get paid. And that was over a few thousand dollars. Saw it and experienced it. You coast until the money hits and you leave. Men lie, women lie, numbers (in my bank account) don’t lie.

And we know from Shakira that hips don’t lie.

[comp_sci_kid]

@ohai

Realistically, once you get your bonus in writing, the company is not going to renege if you express intention to quit. However, if seeing the deposit removes the last bit of doubt and gives you peace of mind, that’s up to you.

Yeah, my thoughts exactly.