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Job pay bonus structure
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Moderator  Join Date: Sep 2000
Location: Irvine, CA
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Offline
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So I have been hearing of such and such companies that give out terrific bonuses based on performance for quite some time now. Unfortunately, I have never worked for those companies before. They are as mystic as can be.
My first company had a bonus structure based on how well that the company did in the prior year. Usually, that meant an additional 10-14 days of pay (5-7 days after tax). My second company offers a measly monetary sum of X dollars for every year that I have been employed. So it is not based on performance, but based on how many years of experience. Unfortunately, even if you work 100 years there, the bonus would still stink.
My upcoming company is my first company to offer a bonus based on individual performance. It utilizes a point system and upon surpassing different point levels, you can accumulate different fixed monetary bonuses. It appears that it offers about 2-4 months extra pay based on a good performance level.
Curious to see how other companies pay bonuses.
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{{{ mindwaves }}}
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Addicted to MacNN
Join Date: Mar 2006
Status:
Offline
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Being self employed, I pay myself a bonus based on 100% of the company's profits.
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Moderator Join Date: Jun 2000
Location: We come from the land of the ice and snow...
Status:
Offline
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last year we started a bonus system based on % company profits from the fiscal year. There are also various other small ($100) bonuses that may come your way if you're very good and get to work on high-profile projects. The annual raise is only 3-4%.
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Addicted to MacNN
Join Date: Mar 2001
Location: USA
Status:
Offline
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We give based on how well we do the year prior.
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Moderator Join Date: Aug 2001
Location: This is not my beautiful house
Status:
Online
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Be sure to scrupulously document your performance. I've heard horror stories of companies that say they base bonuses on performance, only to, somehow, never seem to acknowledge the employee's performance and, thus, never pay bonuses. Or pay darn paltry ones.
A quick story about company bonuses...
I worked in the marketing department for a small software developer. At that time, the webmaster (Mike) was part of our department. It was the end of the year, and the VP was handing out bonus checks. Mike didn't get one. When we questioned this, the VP informed us that because Mike came on board on January 7, he didn't qualify for a bonus. Seems you had to be employed on the first of the year to qualify. He had only completely re-designed and re-built the corporate website from the ground-up that year.
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Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status:
Offline
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Typically (in big companies in corporate America), you are eligible for a bonus once you reach a certain level in the company, which is either a senior professional or a manager level. Few companies pay bonuses to ALL employees.
The most common bonus structure is that 50% of the bonus is tied to company performance, and the other 50% is tied to individual goals and targets.
-t
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