What is the deferred compensation at Citadel like. I know that some percentage of the bonus above 400k tc per year gets invested into the firm’s fund. More specifically I have the following questions: 1- When does that amount vest? 2- If I quit before it vests, when do I get the money? Do I get the principal money or do I get the principal + returns on the amount until the year I quit? Tc 250k 4 yoe Expected offer(not sure yet) 350k + 100k sign on #citadel #google
You get to choose when the deferred compensation vests. Typically it’s a certain number of months after termination or a certain year that you choose. The year you choose can be anywhere from a few years out or longer. You also get to choose whether you want the amount paid lump sum or in installments over a certain duration. Plans vary by firm, but that’s how these things work. The vested amount is principal + returns until disbursement.Your taxable income for any year = Earned Income - Deferred compensation + Prior year Deferred compensation disbursed (if applicable).
This is awesome thank you! Are you talking about citadel or is this a different case? Also, let’s say you pick to get the money 3 years later. And you get 1 year later. Do you wait 3 years to get the money or 1 year? Do you get principal + returns?
It’s a decision you make. If you choose deferred compensation to be paid say in 2027, but you get terminated or leave in 2024, you will have to wait until 2027 to get the money. The choice you make is irrevocable. I was at a different HF and that’s how it worked. Don’t expect Citadel to be much different. You get principal + returns. Also note that deferred income is treated as supplemental income and is subjected to 22% flat federal tax when disbursed.
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have you tried asking your recruiter? sounds like a question you would want an accurate answer for
He was vague, thats why i’m asking here
Gotta get the documents in writing