Received a verbal offer from GS yesterday. Corporate Title: Associate Role: Backend dev Base: 150k Bonus: 75k (Recruiter told this part is not mentioned in the offer letter but you have to trust me and GS's name that you will get this.) TC: 225K YOE: 3+ Questions: 1. Is this common across GS that they don't mention bonus on the offer and it's all verbal? If yes, is there any way I can get a written confirmation about the bonus part? 2. Do they really pay our this huge bonus every year? What is the probability (or historical data) that I will get 100% (or more) of my bonus (75k) given that I perform well (or above expectations)? 3. The recruiter also mentioned that even if I join in Aug 2018, I will get 100% bonus (75k) in Jan 2019. Is this usually the case? 4. I have another verbal offer from a tech company in SF where TC is ~200k. If they don't increase beyond this, it it a good choice to join GS for 25k more? 5. With my current counter offer, is there any chance that GS will increase current base/bonus/both? 6. I have 2 more onsite scheduled. How long can I ask GS to extend the deadline? Thanks in advance for all your inputs. Current tc: 140k + paper money
“Trust me you will get this bonus”? Yeah, right. Also take your pants off and bend over on this black couch. But trust me, just taking a few pictures for the producer
My motto is simple - If it’s not mentioned on paper then it never happened/discussed.
I totally agree and believe it but it's their policy, they never give it written.
Do you know what team will you be joining?
Just find other offer. GS isn’t worth it
Agreed. More than money it’s their environment and culture which I hated he most when I worked there.
I attended one of their interviews and realized they aren’t that competent at all.
It is a common practice for many companies to have a discretionary bonus. A specific number will not be mentioned in the offer letter.
This is way overpaid for 3 yoe
I would've said so had I never used blind. But after reading posts here I think it's possible.
Goldman offer Sucks
In which sense? Money/work wise?
2. Your bonus is dependent on firm performance and individual performance and your role? Are you a front office tech? I.e. working directly with sales and trading or bankers or working to support backend systems? You could get $0 or 150k. Varies. 3. You will not get 100% of your bonus. You will only get a prorated bonus based upon time. 5. Tell you have another offer that pays more, they will increase. 6. GS is managing expenses, and depending on there the team sits within the firm they might soon pull offer off the table, but GS is always in need to Tech.
Thank you so much Euop24 for the response. 2. I will be working with Appdev team as a Backend developer. Any idea how much % bonus do they get? Can you please PM me? I ran out of PMs. :-(
GS ranks all employees within a team and depending on where you rank will determine your bonus. Not familiar with this team as it is really new, but if HCM is telling you bonus of 75k that bonus is probably a good year for the firm (this year is looking ok to good) and you are ranked in the top quartile or have a lot of potential.
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75K bonus is just a rough calculation. They won’t write it anywhere and if the wallstreet has a bad year (say trump China trade war escalates) then you’ll get nothing I would say that take the tech company in SF. Goldman tech stack is completely legacy. Speed of development is very slow because of bureaucracy and red tape. They have a culture where the only way to grow is to lick the ass of partners and MDs.
Like literally nothing or something lesser (say 40, 50k)
You can get 0. Yes that’s totally a possibility at all firms on Wall Street. This is why they don’t write anything about bonus in the offer letter.