Simple Question but one I never knew the anser to… Why do banks declare and hand out bonuses in February? I’m assuming it has to do with accounting/auditing. Does anyone know or is it just what they customarily do.
Think about when Q4 results come out. The results have to be final so that the portion of the bonus contingent on them can be calculated and paid out.
Sims is right. My bank deals out there bonuses before Christmas. How lovely for me.
I only ask because I work for a small firm with 3 Partners. Since inception bonuses have always been awarded on or around December 15th (always before the end of the year) and now, December 11, they’ve just announced that they are moving bonuses to January. Thankfully I didn’t have too many things set aside for it. I’ll just have to wait for the new year to buy the new car but others in the office had vacations that they were going to supplement with the bonuses and deposits that needed to be paid up by year end etc. The funny thing is, is that I talked with our HR person and she said that the bonus pool has already been identified and that the total payout figure for everyone was already agreed upon. I find it odd that they would move the date of declaration and disbursement to the new year but they would already have bonus figures. I tried to rationalize it with the fact that they needed annual firm performance BEFORE deciding on an annual bonus for everyone but the fact that they already have a number is throwing me for a loop. I know that discretionary really means they can do whatever the heck they want but some poor people are probably going to lose out in some way because they have budgeted in a certain amount. We still have deals in the pipeline closing before year end. Does it look like we’re getting shafted for a month? I guess that goes to show you that you shouldn’t count your chickens before they hatch. I’d like to think that my bosses are more aware than I’m perceiving them and they “built in” a projection for this month.
the delay it because of the float
today was bonus day for me. 100k coming my way. Thank you very much santa.
Banks typically pay out bonuses 1.5 months following the close of their fiscal year. Several of the pure play investment banks have November year-ends, so bonuses get paid out around the second week of January.
TokyoBBB Wrote: ------------------------------------------------------- > today was bonus day for me. > > 100k coming my way. > > Thank you very much santa. yen?
http://www.analystforum.com/phorums/read.php?1,627541 I’ll be the last one to have bonus talks this week. Best for last???
Goldman getting £9 billion bonus pool http://www.mailonsunday.co.uk/pages/live/articles/news/news.html?in_article_id=501486&in_page_id=1770 Anybody from Goldman here?