Do End of Year Bonuses Signal Musical Chairs This Year?
While the holiday season is behind us there is one more annual tradition to prepare for: the game of musical chairs in the finance industry. Most Wall Street firms pay annual bonuses to employees either at or shortly after the end of the year. Anticipation of these payments, which may account for the majority of total compensation, tends to cause employees to time their job hunts to minimize the amount of bonus money they leave behind with a former employer.