Did my new company lie to me?
I changed jobs a couple months ago and one of the negotiated conditions with the new company was that I not only would be eligible for a year end bonus but I was also provided a $$ range from HR after the offer was given, and this range was later confirmed by the MD of the group.
Bonuses were announced the other week and I got fucking peanuts. Like $60k less than what I was told by HR/MD and also what I would have gotten at my old company if I stayed.
Emotions aside there’s nothing I can really do at this point right? I’m gonna have to deal with it but is this a valid reason to quit/start recruiting? I already had issues with this job week one but the bonus pushed everything over the edge and I just can’t stand the job, company, people anymore…
Start looking ASAP but also raise the issue internally. Hopefully you have everything in written format.
You need to sit down with your MD/HR and have an adult conversation with them about what you were promised versus what you received. It may still not get you anywhere, but you need to look them in the eyes and stand up for yourself.
This is an important point, you need to be able to have the difficult conversations even if it goes nowhere. One, because it's important, as CRE said, to stand up for yourself, and two because sometimes it does work and the more practice you have the better at being assertive you will be.
There are also plenty of explanations out there other than “my MD/HR is actively trying to fuck me over.”
My company once forgot to give me $25k when that was a dramatic amount of money. Worse, I didn’t have the paperwork stating that I was owed that money, because the company was lazy with getting it produced and signed. I sat down with my boss and told him it wasn’t right that I wasn’t getting paid and he agreed, apologized, and not only did I have a check by the end of the week, but the company’s deal by deal comp paperwork was fully up to date by the end of the week too.
A lot of times, people just forget. Your bonus may not even be on their top 100 list of concerns. The promise they made to you may have been an offhand comment that they forgot about immediately after. Just talk to them. You’ll find out soon if they’re antagonistic or not.
This is the most important point: you need transparency, clarity and to show you are not to be taken advantage of. It is not for you to be aggressive or combative but to have an honest conversation about prior promises made vs. kept, what was their decision-making leading up to that, and what to expect in the future given what you just experienced.
If you changed jobs a couple of months ago, is it possible they prorated it for the year? Maybe HR misspoke when quoting you the range. Respectfully I wouldn't expect a full year-end bonus after being there for 8 weeks.
Definitely no misspeaking on anyone’s end… they knew I was giving up a large bonus to switch jobs and they confirmed I would be receiving a full year’s bonus at the new role.
In that case, would definitely echo what CRE said above. For 60k, I'd definitely sit down with them and discuss it.
First off... are you a child or an adult? Talk to your boss, not WSO. If you think you've been mistreated or lied to then it makes more sense to approach the people responsible rather than just avoiding confrontation
Second, it's a bonus. The whole point is that it is discretionary. Maybe your work sucked. Maybe the firm didn't do well. Either way, this is a nice lesson about negotiating a compensation package for future employment opportunities. Your salary is what it says on your W-2. You shouldn't expect anything else.
Have the conversation.
...also, any time money starts getting "funny", it's time to go. No questions.
Welcome to real estate! And make sure you get your base salary as high as possible next time. This goes for any role in any industry moving forward.
Best,
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