i’m thinking about transferring and taking on quite a lot of loans probably. would it be appropriate to ask someone how much they get paid for bonuses?
i was either gonna ask the previous summer intern who’s coming back full time or the associate 1?
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When considering whether to ask about salary and bonuses, it's important to approach the topic with tact, especially in a professional setting like finance. Based on the WSO threads, here are a few points to consider:
Choose Who to Ask Carefully: Asking a previous intern who is returning full-time might be more approachable since they were recently in a similar position and may be more open to sharing their experiences. An Associate might provide more detailed information about the progression and expectations in bonuses over time, but they might also be more reserved about sharing personal compensation details.
Context and Relationship: The appropriateness of your question also depends on your relationship with the person. If you have a mentor-mentee relationship or have had open discussions about career paths before, they might be more willing to share.
Generalize the Question: Instead of directly asking for specific numbers, you could frame the question more generally. For example, you could ask about the typical compensation range for someone at their level or the factors that influence bonus allocations at the firm.
Professional Setting: Remember to ask these questions in a private and professional manner. Avoid asking in group settings or in any context that might put the other person on the spot.
Research: Before asking, do some preliminary research. The Wall Street Oasis forums often have anonymized data on salaries and bonuses which might give you a ballpark figure without having to ask someone directly.
By keeping these points in mind, you can navigate the sensitive topic of compensation more effectively and maintain professionalism in your interactions.
Sources: To what extent do you tell family / friends about your salary?, Dealing with a terrible bonus?, My bank pays everyone different, How to answer salary question in online application?, Selby Jennings HH Experience London
Yeah honestly I ask co-workers about comp all the time and they generally are open to sharing, worst they can say is no.
I've noticed it gets weirder to ask when you're talking about people at kind of the VP level and up (I.e. when they start getting married and having famies)
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