Yes, analysts do receive bonuses, but the timing and structure of these bonuses can vary significantly based on their level of experience and position within the company. Typically, new analysts begin their roles in the summer following their graduation from college. They are eligible for their first-year bonus after completing a full 12 months in their position, which means they will receive this bonus a year after their start date. It is important to note that analysts do not transition to the calendar year bonus schedule until they are promoted to the associate level, a process often referred to as 'a to a' or analyst to associate. This means that while analysts do receive bonuses, the structure is designed to reward longer-term commitment and performance as they advance in their careers.