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The big banks and brokerages like to fire people in December so they don't have to pay bonuses in January Maybe this used to be the case but I think now they j
by d0gsg0w00f 4y ago
The big banks and brokerages like to fire people in December so they don't have to pay bonuses in January
Maybe this used to be the case but I think now they just don't pay a bonus and hope you take the hint. Also, all of the pending bank layoffs I hear about in the news are going to happen in February (after bonus payout).
Source: work in bank
- zxcvbn4038 4y agoWhen I worked I finance my compensation plan was always in writing as percentage of base compensation and commissions. If I was there on Jan 15th I got all of it. If I left anytime before Jan 15th I got none of it. So typically in December the brokerages lay off or fire anyone they don’t want to pay bonus to. In January everyone switches jobs after they get their bonus.