Goldman Sachs Bonus Condition
I have an offer for GS: 160k, 75k bonus, 18k reloc and RSUs (TBD). I may be able to negotiate bonus to 100k From my understanding the bonus will be paid full end of year, even if I join now/July. My question is: what happens if I leave after 6 months? Do I need to return back the bonus? Reloc? Any consequences? I got an offer for FB as E4, however they aren't hiring at that level anymore and the recruiter said roles may not open up until early next year. I'm thinking of accepting Goldman Sachs because the 6 month TC is greater than my current TC and I get to try something new (project seems interesting and I enjoyed talking to the team during the interview). If I love it, I have the option of staying. If I don't, I can join FB when a spot opens up early next year. YOE: 4 #goldmansachs #gs #facebook
Is that sign on bonus? Why is it paid end of year :/
It's not sign on. It's the annual bonus so it's paid at end of year. I don't think they do a "sign-on"
I’d be surprised if that bonus isn’t prorated
100k or 75k bonus comes with a 2 year string attached, if you leave before that you will pay back the prorated amount. If you leave under a year you will need to pay back 100%, and 80% of the relocation bonus.
I should add that this was the case a year back, check the current terms with your recruiter
Ahh that's good to know. Well in that case, this isn't that appealing..lol Can any current GS recruiters confirm/deny? Apparently they don't even give the written offer until I verbally agree so I can't even check this myself..
Goldman Sachs gives RSUs? If so, then that is a surprise to me.
They only gave me RSUs to match my RSUs I'm currently given. I told them I wouldn't even consider if they don't match my RSUs
What’s RSU?
OP, I am in a similar situation. I was supposed to sign offer for fb e4 yesterday, but they aren't sending offer letter and recruiter has become unresponsive. I am getting mails for H1B petition process from them though. I too have an offer deadline on Monday which I should take up if fb doesn't respond. My recruiter hasn't specifically mentioned anything about rescinding the offer. Any idea?
Can you DM me?
Pinged
Are you sure about leaving LinkedIn for GS? GS is trying hard to rebrand themselves as a Tech powerhouse, but they are not. I have interviewed several GS candidates & most of their projects sound boring compared to mainstream tech. If you want to leave LinkedIn, why not try for FB,G, NFLX etc.(or 2sigma, Jane Street etc. if you are into that kind of work)
Oh I see, that's interesting. Would joining GS put me at a disadvantage for getting interviews at these companies in the future? I definitely don't want that to happen. (Right now it's super easy for me to get interviews - recruiters reach out to me all the time from big tech/FANG Also in regards to FB, I did get an offer for FB, however their headcount is full and I may not be placed until next year. So I was thinking of joining Goldman for time being until that. However there's also the chance that fb says "nevermind we can't hire you" in which case I'd be stuck with Goldman...but I'm hoping that wouldn't happen?
No, I don't think you will have too much trouble getting interviews. But you will most likely face a culture clash.
Something doesn’t add up to me here. Bonus payouts happen in January/February. If you join in June, the bonus in Q1 2021 will be for the work you did. As far as I know, you wouldn’t be on the hook to pay it back if you left before Q1 2022
The recruiter said I'll qualify for the full bonus (non prorated) and should be guaranteed end of this year. But I think you're right, it'll actually be paid in January? What if I leave before Q1 2022? Like what if I leave after a month after I receive the bonus because I decide GS isn't for me? In that case, do I need to give back the bonus?
Oh perfect. And bonuses are usually paid in Jan? So I can theoretically leave the next day and keep my full bonus (even if I worked half a year)?
75k after tax is about 50k , not much money to make a life change , don’t put too much focus on this portion
Well one huge reason is because I need to wait for Facebook anyway. Would you say this is a bad life change/decision?
50k after tax is not much money....?? 😢🤔
Just stay where you are until you get FB/better roles. Why go GS for a 6month stint? You won't make significantly more money and the job hopping is a negative on your resume.
since wen GS started offering RSU? wht position were u offered? and dont count on any bonus in GS
What's wrong with LinkedIn apart from tc? What do you mean by "got fb offer". Did you get any numbers? Or Written offer?
Nothing's wrong with LinkedIn but this seems like a good opportunity to try something new for 6 months to see if I like it with little risk. TC is a bonus So sticky situation - I got a verbal offer and the recruiter said they'll get back to me to see if they can find a role somewhere, however worst case scenario is early next year so now I'm weighing my options as my Goldman offer expires this week.
Joining GS is not for the light hearted who wants to enjoy some pay bump. You will be expected to do a lot of strenuous work. Hopefully you enjoy that and the possibility you can’t switch for a year. Also bonus is only available end of year so make sure you can negotiate if you are even eligible if you join in june/july