What to do if you get screwed on bonus? (In a good year for the company and you've only gotten positive reviews)
Curious has this happened to anyone here, you worked very hard and at the end of the year get 20% of your bonus when typical payout is much higher. What do you do in that situation do you try and see if they would reconsider and explain your case? What if instead of an annual bonus like you were expecting they say hey we'll spread that out over x months? More so interested to hear how you negotiated around these issues or dealt with them as a somewhat junior employee (Analyst, Associate, and then VP level).
In my first year, I received a 5k bonus after enduring a grueling year of long hours. Although my reviews were highly positive, I faced a rough beginning in the initial two months (I believe bonus decisions were made in December). However, I managed to overcome these difficulties and significantly improved my performance thereafter. I even supervised lateral analysts in some teams, reviewing their work and providing feedback. I was surprised by the low bonus I received, especially when the laterals working under me (in some deal teams)for half a year received significantly higher stubbed bonuses.
After receiving the bonus without much explanation (I asked extensively for reasons and even got written reviews from all my teams that were positive), I sought advice from mentors and seniors I had a good rapport with in my group. Subsequently, I chose to leave as soon as possible. Despite putting in a lot of effort and producing good work, I seemed to have made a negative first impression on my staffer, and changing such impressions wasn't worth it to me. To prevent a similar situation, I pursued a buyside associate role, left banking, and embarked on a few months of travel prior to my start date (firm was okay with it).
I'm not sure if I handled the situation properly, but you live and learn from these types of decisions. I was working a lot and working under some very very toxic individuals (we worked well together, I just wasn't happy with the treatment). I couldn't imagine working under those conditions for another year just to potentially get another 2.5k post tax bonus.
In my opinion, you should just take this as a sign of how your bosses operate and look for something new. Maybe not immediately, but know it's time to leave. Life is too short. I've done this and fought my way a little higher over and over for years and it just gets exhausting as the years ago by and you're worrying about every little thing impacting your bonus instead of focusing on your job. There are too many places out there that will value you more
Happened to me once, started looking for new jobs, and 3 months later had a new job making 50% more. If they pay you that low on a good year, they don't want you.
You essentially make exit plans and then laugh on the way out the door when they try to pay you to stay once you quit. Too little, too late, and not worth you burning bridges to stay.
Exactly, a lot of employers won't give you much of anything until you have a concrete offer from another company in hand, at which point they'll magically offer you a big raise to stay.
You leave. Happened to me at last company too, now making 40% more at a better firm.
Negotiate for a higher guaranteed salary. A bonus is just that - if you get anything, it's a bonus
Truly astonishing these firms never learn, but the only way to fix it is to leave for a better offer.
This happens at much higher levels, btw. Totally routine for companies to refuse a $50k raise to a super high performing revenue generating top performer only to spend 10x that or more to replace them with someone worse, with no institutional knowledge.
Rerum est ad ipsa ad corrupti. Et veniam et et nihil. Dolore aut voluptates omnis ut sunt. Quaerat aperiam voluptatem qui quis.
Atque tempora corrupti quo voluptates iure architecto. Eaque perspiciatis in qui a perferendis commodi. Sequi corporis tempora aut ex accusamus ut ut. Id autem et impedit harum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...