| Topic Name: |
$700K package at DLJ!!! |
| Message Name: |
DLJ |
| Date Posted: |
04/21/2000 |
| In Reply To: |
The following is out of a recent Financial Times article:
"DLJ is now offering first-year associates a two-year package - salary and guaranteed bonuses - worth at least $700,000. This comprises a guaranteed minimum of $300,000 in the first year, and $400,000 in the second year.
DLJ will also allow associates to immediately take 25 per cent of their guaranteed bonus in the form of a forgiveable loan - at the lowest permissible interest rate.
In addition, associates will have the option to invest in DLJ's own New Economy private equity fund. Associates have been told that if they participate "meaninfully" in the fund, the term of their forgiveable loan will be extended from two to five years.
In return for the package, associates are being asked to sign one-year non-compete contracts. This means that associates will not be able to leave to work for a competitor before February 2001.
DLJ's offer has astonished Wall Street competitors who fear it will raise the amounts they have to offer associates."
This is pretty shocking! Does anybody have any insight on how the other banks might respond?
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| Message: |
I just read the article. That's a lot of cash! It will be interesting to see how the other banks respond. In the meantime, does anybody have the name of the human resources contact for lateral recruiting?!
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