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Employers paying for second year of business school?

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by shorttheworld » Fri Sep 23, 2011 6:46 am
Hey all - I recently learned from a Tuck alum that it is somewhat common for firms to offer signing bonuses that will pay for your whole second year of business school instead of pure cash -- does anyone know how common this is? Only certain firms like IBanks and MBB consulting firms or is it much more prevalent? ANd is this only for summer interns who accept or 2nd MBA year hires (in the fall or whatnot after summer?) Thanks
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by throughmba » Sat Sep 24, 2011 6:33 am
Yes some do pay through as second year Fees.

Ex..For Bain Consulting

Signing Bonus: $20,000
Base: $125,000
Performance Bonus: up to $39,000 for your first year
- – - – -
Total compensation: $184,000
Signing bonuses ($40k + $10k for signing early + pay for 2nd year of b-school). This was for folks who interned there, so the latter two parts of the bonus might not apply otherwise.

Deloitte : $70000

Companies consider the signing bonus a form of contract, rather than simply an enticement for new and promising employees to come and work for them. The fine print in most cases states that the signing bonus must be repaid if the employee in receipt of the bonus quits within a specified time period. This may range from three months to several years. If this happens, you may find yourself owing the company the entire signing bonus back if you happen to find a better job or have to move for some reason. In these cases, the company will expect the entire signing bonus be repaid all at once. You won't be able to make payments on it if you spent the entire signing bonus when you got it. If you can't pony up the cash and still have to go, the company will pursue legal action against you for breech of contract.
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by shorttheworld » Sat Sep 24, 2011 6:36 am
70k signing bonus for deloitte or is that the all in comp or what :P haha assuming the former
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by throughmba » Sat Sep 24, 2011 6:50 am
$70k is definitely base. :)

Most of them are in the region of $15k-$25k.

Deloitte’s offers was mostly cash based --$40k.
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by shorttheworld » Sat Sep 24, 2011 6:53 am
wow really? i thought i had read that deloitte's consulting salaries were on par with MBB firms (or at least BCG i think?) on a site i was reading? im in finance right now as a prop trader @ a family office and most likely gonna stick with investment management but may move over to consulting since i like the dynamics of the job...
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