Post ID: @3iab+1q9SVjzE But the UK/EU have more and better employee-worker protections that in the USA. H3ll, even Canada has more and better worker protections than the USA. Bonuses may be less than in the USA, but it's much more difficult to fire or lay off employees in the UK/EU and Canada. This is a benefit that's worth more than bonuses. The medical insurances and social services are also better in the UK/EU and Canada. Medical care there is NOT convoluted, discombobulated, expensive and FUBAR as it is in the USA. This is NOT a hyperbole. So sad. I remember some of my newly hired UK and Australian colleagues in a HR open enrollment meeting asking about what a deductible is, why it needs to be achieved/met before the medical insurance pays for anything etc. etc.. They were so confused. HR had to take their questions offline since the explanations were too long. Deductibles and other BullSh!t costs and expenses do NOT exist in the UK/EU and Canada !!! The USA is pathetic and needs to move to a single payer or universal plan just like its civilized Western allies!
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Post ID: @2gyk+1q9SVjzE : What function are you working in? How is it possible to get $1500 annual bonus with 2 rating? Are you in the investment bank business/supporting functions? Even compliance in LDN investment bank with rating 3 are getting at least 5k bonus... Otherwise I agree that people in the US are at least 30% better off than people in UK/EU, not sure about APAC. That is why UK/EU are experiencing brain drain - many of my colleagues are leaving for US or thinking to leave... US are just doing things better.
Could be worse. Staff in Europe or APAC get a fraction of what US based colleagues get. We are probably earning less than half of what you earn and would be lucky to get $1500 for a 2 rating after working 50 and 60 hour weeks all year. Im not worried about the bonus as long as I have a job in January.
Im guessing bonuses will be 60-70% of what they were last year. So if you got 10K, probably closer to 6K this year.
Yeah. That's way too big of a range across the firm if its 1.5%-25%. I'm not saying it's not true, it's just kind of crazy. What about functions/IT folks in O&T?
At this point I will be shocked if most people receive a cost of living raise or any type of bonus. If they are making managers rate people lower than they should, why wouldn't they manipulate things further?
Post ID: @1tph+1q9SVjzE : What I said about the 25% is regarding working in Citi Corporate and Investment Banking front/middle/back office. I suppose the 1.5% is for retail banking...
This makes no sense someone saying 1.5%, someone saying 25%, even at different levels the difference is abysmal.
It varies among sectors, but for an O&T individual contributor VP the bonuses were about 1.5% for a 3 rating and 2% for a 2 rating (before taxes) consistently for the past few years.
Apparently Citi relies on higher base salaries and smaller bonuses, compared to other banks. What matters is total comp. But I would say do not expect anything above 25 PCT if you are below D in middle/back office. Front office world is different - higher bonuses, bit also the variance across people and time periods is higher, i.e. size of bonus depends highly on current year and one's performance.
It depends on whether you are in the business or a function
What is it usually for VP and AVP?
What's considered a good bonus for VP level?
Usually 25% of the base. This year unsure. Could be 0
SVP
If you tell me your level I can comment. It varies by level