Goldman Sachs Bonus Payout
Does anyone know what’s the Goldman Sachs company policy on bonuses being credited to the bank account? Since the bonus accounts for the last year, Can it still be withheld if the employee resigns before the payout date? I’m in a situation where I might have to resign before the bonus gets credited into my bank account. Because the new company that I am joining requires me to join at a given date. #bonus #goldmansachs
Usually the new company will agree to pay out some or all of your expected bonus at your previous company to help with this
Not at a bank, but in financial services. Our policy is aligned with the fiscal year. IE; if you resign before the end of the year you forfeit. But there’s usually a month or so gap between the end of the fiscal year and the actual payout. As long as you clear the end of the fiscal year and then resign you’re still entitled to the bonus, even if you resign before the payout (but after the close of the fiscal year).
The rule at Goldman is very opaque regarding to this. On one hand the bonus is decided way before the new year begins and it will take a lot to change once it is decided. On the other hand in a bad year the MD might want to go through these hoops to get your bonus revoked so they can give the money to keep someone else on the team.
so opaque. I wanted to ask HR but don't want to be flagged and I have not yet given my notice.
Yeah. That’s generally the policy at banks. If you’re not there on the bonus payout date, you don’t get it
do you know anywhere I can find this policy? I saw one for Wells Fargo that aligns with what you said.
You can probably search for it in your internal site. Worked for a big bank several years ago and I searched for the same thing as I was considering an exit too that’s how I know. I searched for the bonus terms in the internal site and there it was