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For those of you who left a firm within the “lockup” period on a signing bonus, how did the repayment actually work out? Was it a lump sum repayment immediately on departure? Were you given the opportunity to make payments in installments (with or without interest)? My signing bonus was paid last year net of taxes but I believe I would have to repay the entire amount this year if I leave early (and I’d get a credit back on my taxes of some sort). Just trying to gauge how this works in practice, especially at V10 firms since I’m at one of those, so I can have a plan if I do end up leaving early.

Anon because I am contemplating leaving during my lockup and don’t want to be outed to my firm.

I've always wondered this too. If anyone has insight, would be valuable.

You guys burnt out too? Been only at my firm for less than six months and already thinking of leaving. I’m annualizing over 3000 hrs and have been suffering physical symptoms like weird nausea and gagging at my desk, I think from the anxiety.

I wake up everyday with a knot in my stomach, unable to breathe. I don’t even want to look at my email. All my clients are essentially international so I’ve been working pretty much around the clock. Early mornings, late nights. Ive paid off all my debt and have like a years worth of savings.

Anonymous User wrote: ↑

Sat Jul 17, 2021 11:19 pm

You guys burnt out too? Been only at my firm for less than six months and already thinking of leaving. I’m annualizing over 3000 hrs and have been suffering physical symptoms like weird nausea and gagging at my desk, I think from the anxiety.

I wake up everyday with a knot in my stomach, unable to breathe. I don’t even want to look at my email. All my clients are essentially international so I’ve been working pretty much around the clock. Early mornings, late nights. Ive paid off all my debt and have like a years worth of savings.

My man or woman, you gotta take your foot off the gas -- "no" to deals, delay work product, take a leave of absence, something -- they pay you for your time, but not literally all of it.

My experience was from a few years ago, so details are bit fuzzy. I gave notice, a few days later someone from HR called to discuss repayment/accrued vacation days, then they emailed me my balance to be paid. I wrote a check, and on my last or second-to-last day an HR rep scheduled a time to stop by my office to collect it and provide me a receipt. My repayment was about 15k, so I just ended up paying out of checking and did not ask about a payment plan.

During tax time, your former firm will provide a W-2 showing your actual income (so not including your repayment), you would then file your taxes with that lower number and receive the withheld taxes back.

don't certain firms require repayment of the full slug? most allow pro-rating but thought some demand the whole thing.

Anonymous User wrote: ↑

Sun Jul 18, 2021 2:48 pm

don't certain firms require repayment of the full slug? most allow pro-rating but thought some demand the whole thing.

Confirmed - the lower down Vault you go, the more cloying they are about getting the full signing bonus back if you leave before the minimum period is up (including any taxes that they had to withhold, and so leaving you out of pocket until tax refund time).