You might expect that if your firm wants to fire you, you’ll know about it immediately. You won’t be working there anymore.
But on Wall Street, firms sometimes use a not-so-subtle gesture to tell their employees, get lost. And they’ll keep you around until you finally get the hint.
It might be courtesy, but it’s more likely an attempt to avoid any legal matters that might arise in the event that for example, you’re a female or a male who might file a case against the firm for sexual discrimination or unfair dismissal.
The gesture: Zero bonus.
A former banker wrote into eFinancialCareers to warn others not to make the mistake of sticking around after receiving a zero bonus.
Word might spread that you don’t require a bonus, he says, making it hard to get a job elsewhere. So get out immediately, he recommends.
A zero bonus is a form of constructive dismissal. It’s also a favoured option for banks because it’s a hell of a lot cheaper than actually sacking you.
The problem is that some mindless dingbats just don’t get the message. These losers hang around the office like lepers despite having been a given the banking equivalent of a ‘Dear John’ letter. They shuffle around like the walking dead, seemingly unaware of the snide comments whispered behind their backs and the deathly silence that descends on noisy bars as soon as they enter.
How much cheaper? Take a look at the following lawsuit to get an idea and click here to see the 15 crazy ways women say they were sexually discriminated against at Goldman Sachs >
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