Wall Street’s Bonus Schedule
By BankersBall on Nov 27, 2007 in Cube Life, Job Hunting, Salaries
A reader asks about the bonus schedule of firms. We mine our compensation survey to for the answers. Let’s see how accurate you SOBs have been.
This perennial question of “when do bankers get their bonuses?” is a bit baffling. You’re a banker, so don’t you know? Or perhaps it’s that you’re an ex-banker and so now it’s more that you’re curious about your colleagues and friends. But aren’t they all bankers, too?
Regardless of the motivation, we aim to please, so we took a look at responses that listed firms in our comp survey and have highlighted some bonus payout dates if there seemed to be a consensus.*
If these are wrong, you only have yourselves to blame. Corrections will be noted, but how can we trust you again?
ABN Amro: late Feb
Barclays: mid-Feb to early March
Bear Stearns: mid-January
BlackRock: late Jan, early Feb
Citadel: late Feb
Deutsche Bank: mid Feb
Fortis: mid to late-Feb
JPMorgan: mid to late Jan
Lazard: late Jan, early Feb
Lehman: early to mid Jan
Merrill Lynch: mid-January
Morgan Stanley: mid-January
Macquarie Bank: May
Nomura: April
Piper Jaffray: Late July
UBS: mid to late Feb
Looking at all of the responses that listed a date at all (it’s optional), 27% get paid in January or Feb; another 5% in March. Q2 payees totaled 6% and Q3 totaled 12% of respondents. 13% get paid in Q4 and the remaining 37% did not answer the question. Way to freeload.
On Nov 27, 2007, BlueHorseshoe said:
Um, you seem to have forgotten the only firm giving out decent bonuses this year. Hint: starts with a “G,” ends with an “oldman”
On Nov 28, 2007, szj said:
wachovia is late january
On Nov 29, 2007, dirtchutewarrior said:
bluehorshoe, you are a thing that begins with a “D” and ends with a “ouchebag”.
On Nov 29, 2007, mkilz said:
Banc of America Securities is in mid-February I believe.
On Jan 26, 2008, Goldsmith said:
Citadel did its bonuses this week in Asia