I recently received an offer letter for an associate role with a fairly prominent REPE firm. My offer letter states that my bonus will be completely discretionary and has no target % specified. However, when I was given the verbal offer, I was told what the total compensation amount would be, which implies a 100% bonus per the base listed on the offer letter. Should I be stressed that the target bonus % is not included in the offer letter? Should I ask to get that in writing seeing that it will account for 1/2 of my total comp?
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Absolutely, get everything in writing before you sign.
It can screw you in the good years if they give others larger than 100% bonuses, but there should be some algorithm to be placed, for profit share or metric for performance.
I had a firm with no target bonus, and their bonuses were very high. It turned into a % of total profit of the company allocated to a bonus pool then a % of that pool off that.
Highest bonus ever paid was someone who said is was completely discretionary
Yeah, I have to say, if your bonus is set in writing when you get an offer, it's not really a bonus, ya know? At that point it's just part of the guaranteed compensation package that gets paid at the end of the year instead of throughout.
Were I an employer, someone asking me for a set bonus in writing is getting that, and nothing more. The purpose of a bonus is to reward good work or let employees participate in the profits from a good year - once you decouple it from those drivers it's just salary
I've had both scenarios, two companies with discretionary. One was highest bonus, one was lowest bonus(zero). My gut is, if this is for a fairly prominent company then they will likely pay you, as they have a track record.
Update: I asked for them to put it in writing, and they said "No 3". Signing the offer now. Thanks for the help.
I'm in the market looking for a first year associate role would you mind sharing the total comp? Feel free to PM if don't want it public.
I’ve never had my bonus target in writing, for what it’s worth.
Mind sharing offer? I’m up for promo and team loves to hear what’s market when discussing comp
If it's not in writing than it's a lie
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