Finished Interviews, HR asking for brokerage statement (account statement)
I finished all my interviews and HR called me. They said they are about to generate an offer and they would like to review my brokerage account (account statement) coming from third party (fidelity/etc). They mentioned this is to see how much stock I will be forfeiting from my current company and they will use this to verify that amount. Also asked for my target bonus % document. What is the reason for them asking these? Is this common? Edits: this is a huge company; and level is leadership level role.
I thought HR asking these stuff in tech is common but I guess not?
This is common in finance, but I haven’t experienced this in tech.
I am wondering if this is to lowball me.. giving me just little bit more than what I am getting.
That is a valid concern. Either way, you can negotiate or say no.
Get them to make the offer first based on their typical offer. Than if they are below what you want use the data you have as needed.
They said they will not give an offer unless I submit these documents.
They provided general range verbally though.
If you are at offer stage they have invested a lot of time and resources into this processes, so you could play hard ball.
Are you negotiating with them already? It's weird they'd ask unless they already gave a first offer, you asked for more because you're giving up xyz shares to join, and now their finance/hr team wants to verify. If they're asking before negotiation, that's aggressive on their part.
I would say this is negotiation stage. They verbally told me how much is expected. Base range, bonus, stocks - they wanted to get my buy-in before creating actual offer.
But you didn't push back or negotiate yet? I think they should be putting together an initial offer before asking you to provide sensitive info.
Not that uncommon. In the past, when I asked to be compensated for the unvested stock that I was paid as bonus in previous job, I had to produce documentation back up my ask. FYI : this was while moving from one bank to another bank. Not in tech.
Interesting that non banking company is doing this… perhaps many banking people running HR here
OP, are you in any of these states? If so, it's not legal for them to ask you about your current salary / compensation. Alabama, California, Colorado, Connecticut, Delaware, DC, Hawaii, Illinois, Maine, Maryland, Massachusetts, New Jersey, New York, North Carolina, Oregon, Pennsylvania (state agencies only), Vermont, Virginia and Washington I'm in HR ,and there is no way I would provide my brokerage account statement to a future company. Especially not before they give me an initial offer. This seems fishy to me.
I am in one of those states and this company is in one of those states. They said, requesting document is to provide the amount that I will be forfeiting but fishy that they request this before providing initial offer (official). Adding more info, I did mention that their base range is lower than what I am currently being paid.
Did you lie about how much stock you’re losing ?
My previous company did this to verify what you would be losing out on so they could make up for it in your sign on bonus. It is verifying the stock/bonus you’d miss, not your current salary.
Yes, that is what they mentioned too. Makes sense! Thanks
This is usually you done when firms pay out forfeited stock. i.e. if you leave now you leave 200k unvested stock behind they verify that and then pay you the equivalent
This is exactly the case. Thanks!
Sounds like they want to verify your claims?
Glad I didn’t lie anything