Fin job includes an eoy bonus, once I've received it, when can I quit?

December 11, 2015 1:38 PM

Sort of had to maul the question title, but it's straightforward enough... I work in a finance job with a substantial end of the year bonus. I'm also planning on quitting the second it is safe to do so... I know that merely getting the number is NOT safe, but once it is in my bank account, am I good to quit? I'm not really sure what to look for! But once the money is in my account, can they do anything?
posted by anonymous to Work & Money (7 answers total)

It depends a lot on the terms of your employment agreement and where your bonus is coming from. Could it be deemed an advance in any way? Or is it certainly a bonus for work you've done in the past year?
posted by craven_morhead at 1:52 PM on December 11, 2015 [2 favorites]

Check your contract. Generally once it's in your bank account you're safe, unless the terms of your contact/anything you've signed related to the bonus specifies some sort of claw-back period.
posted by Itaxpica at 1:56 PM on December 11, 2015 [1 favorite]

yes, once you have it in your account.

i work in the industry, and there's always some folks that quit the day (or week) after bonuses are paid.
posted by osi at 1:57 PM on December 11, 2015 [1 favorite]

There's the date they tell you what you're getting, and the date you actually get it.
Generally it's safe to quit about a week after you get it. But check your employment contract -- my current employer has a bonus clawback provision if you quit and certain conditions are not met.
posted by Arthur Dent at 3:38 PM on December 11, 2015 [1 favorite]

Seconding osi's comment. He's right about the wave of resignations.

FWIW, I quit a job in finance the same way you're contemplating, and I stressed the hell out over the same question. It wound up being fine.
posted by jpe at 8:06 PM on December 11, 2015

I was JUST talking to someone on the bus in Costa Rica about this. He was telling me that this is how some people launch their escape from New York. Read your contract to be sure. It shouldn't be complicated to figure out. Have fun!
posted by oceanjesse at 8:28 PM on December 11, 2015

Once the money is in your account, you should be good to hand in your resignation. I've just started working in financial services, and just after the bonuses get paid there is a slew of resignations. You won't be alone.

But yes, as others have said, check your contract.
posted by His thoughts were red thoughts at 1:08 AM on December 12, 2015