How was your bonus?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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How was your bonus compared to last year?

Higher
29
25%
Same
8
7%
Lower
12
10%
What bonus?
67
58%
 
Total votes: 116

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Topic Author
renditt
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Joined: Fri Apr 25, 2008 2:05 pm

How was your bonus?

Post by renditt »

At least for those of us working in the financial industry, it is bonus season. Just curious how everybody is doing.
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leonidas
Posts: 433
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Location: Mansfield Township, NJ

Re: How was your bonus?

Post by leonidas »

No raise this year (again) but roughly a 10% bonus which was a bit higher than last year.
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Cernel
Posts: 287
Joined: Sun May 04, 2008 11:06 am

Re: How was your bonus?

Post by Cernel »

As Jim Mora might say when asked about the "Playoffs"

Bonus? What Bonus? Don't talk to me about Bonus.
(I'm retired, so no bonus here)
Grt2bOutdoors
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Re: How was your bonus?

Post by Grt2bOutdoors »

Some have been told their bonus is they are still employed.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Tim_in_GA
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Re: How was your bonus?

Post by Tim_in_GA »

GRT2BOUTDOORS wrote:Some have been told their bonus is they are still employed.
Exactly. I'm happy to have kept my job after two rounds of layoffs in the past two years.
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jeffyscott
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Re: How was your bonus?

Post by jeffyscott »

My bonus was a significant reduction in pay. Adjusted for inflation, net pay after deductions for benefits is now less than it was in 1992.
The two greatest enemies of the equity fund investor are expenses and emotions. ― John C. Bogle
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camper
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Re: How was your bonus?

Post by camper »

Government worker here. I have been at the same job for 9.5 years. I have gotten 3 raises in that time. When there is enough money we are supposed to get a raise once a year. I have been furloughed for the previous 3 years. This year the furloughs have been "temporarily suspended". I am lucky because I have been there a while and haven't had to worry about layoffs. We can only hope the furloughs have ended for good. That would be like a bonus.
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Go Blue 99
Posts: 952
Joined: Thu Oct 09, 2008 3:42 pm

Re: How was your bonus?

Post by Go Blue 99 »

We'll find out in the next few weeks. Last year was my best bonus in the five years I've been working here (10.2%). I'd be very happy to get that this year.
The Wizard
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Re: How was your bonus?

Post by The Wizard »

I work in engineering. We don't get bonuses as a matter of course. The company HAS in the past toyed with the concept of giving out bonuses and keeping salary level unchanged for the following year. I don't think that worked out too well; we don't do it anymore. They just do sporadic bonuses from time to time (a few hundred $$) as a morale booster now...
Attempted new signature...
BuckyBadger
Posts: 1180
Joined: Tue Nov 01, 2011 11:28 am

Re: How was your bonus?

Post by BuckyBadger »

My husband has gotten previously, and appears to have gotten this year, as a "bonus" a 4% deposit into his 401k.

No bonuses for me!
bhead33
Posts: 137
Joined: Thu Dec 29, 2011 4:13 pm

Re: How was your bonus?

Post by bhead33 »

10% raise and 10% bonus. I was always a consultant before relatively recently becoming a fulltime employee. I don't consider bonuses when figuring out my budgets and they come as a pleasant surprise.
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Topic Author
renditt
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Joined: Fri Apr 25, 2008 2:05 pm

Re: How was your bonus?

Post by renditt »

Just had my discussion, down 20% vs last year, pretty much as expected.
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leonidas
Posts: 433
Joined: Sun Jul 10, 2011 8:58 am
Location: Mansfield Township, NJ

Re: How was your bonus?

Post by leonidas »

Even though I got a higher bonus this year, our base salaries have been stagnant for the past 3 years and overtime was eliminiated. Since 2008 my overall pay is down about 15% non inflation adjusted.
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englishgirl
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Location: FL

Re: How was your bonus?

Post by englishgirl »

I got a gym bag. Last year I got a golf umbrella. The year before that I got a travel mug.

All the above are branded with my employer's logo, so I have a sneaking suspicion that they are marketing leftovers, or maybe they get a bigger discount on the order this way if they give one to all the staff too.

So, um, I think it was better this year?

I haven't had a cash bonus since 2007/2008. I am not in the finance industry, though.
Sarah
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kenyan
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Re: How was your bonus?

Post by kenyan »

No bonus, no raise again. I did get two promotions last year, each with a nominal raise. However, due to the very small (and often completely missing) cost-of-living adjustments, I will just barely be outpacing inflation for the first 7 years of my career. So much for the early-mid career being the time to increase your salary.
Retirement investing is a marathon.
Atilla
Posts: 1455
Joined: Tue Feb 09, 2010 7:44 pm

Re: How was your bonus?

Post by Atilla »

Pay is based on 7% of gross revenue generated over the previous four quarters; adjusted quarterly.

A bonus is when I make more money for the owners and take my 7% cut of the new money. :D
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NightOwl
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Re: How was your bonus?

Post by NightOwl »

About four times as large as last year's, but not particularly large in an absolute sense (I'm not in finance either). It's been entertaining listening to what my co-workers have done with their bonus money. I stay quiet, because my answer -- half to Vanguard, half to student loans -- is almost embarrassingly boring.

I too am very grateful for any bonus that comes my way. I only started receiving them a few years ago, and they pretty much disappeared for a few years there.

NightOwl
"Volatility provokes the constant dread that some investors know more than we do, making us fearful of ignoring such powerful price movements." | Peter Bernstein, "The 60/40 Solution."
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Exige
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Location: Littleton, CO

Re: How was your bonus?

Post by Exige »

No bonus but first raise in 3 years about 3%
‘I found the road to wealth when I decided that a part of all I earned was mine to keep. And so will you.'
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tyrion
Posts: 1285
Joined: Fri Feb 08, 2008 3:33 pm

Re: How was your bonus?

Post by tyrion »

We don't fine out until mid-March. Last 2 years have been 2.5-3% merit increases, 6-8% bonus. Sounds like I've been lucky.
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Watty
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Re: How was your bonus?

Post by Watty »

When I was first starting out I got the all time worst "bonus" that was even too bizarre to put in a Dilbert cartoon.

I was working for a medical software company that had been bought out by a cosmetic company to diversify their holdings.

At Christmas time they came around with a bag of cosmetics for each of the employees.

For a single guy that wasn't too exciting, but the kicker was that most of them were marked with something like "For testing only: NOT for human use" .

Now that is how to show your employees how much they are truely valued!
stoptothink
Posts: 8733
Joined: Fri Dec 31, 2010 9:53 am

Re: How was your bonus?

Post by stoptothink »

40% of my program and more than 1/4 of my entire organization has been laid-off since September, a cost-of-living raise let alone a bonus would be a joke. Haven't receive a salary increase of any sort since I started 3.5yrs ago, despite countless promises...I did get a zip drive for Christmas.
hicabob
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Re: How was your bonus?

Post by hicabob »

stoptothink wrote:40% of my program and more than 1/4 of my entire organization has been laid-off since September, a cost-of-living raise let alone a bonus would be a joke. Haven't receive a salary increase of any sort since I started 3.5yrs ago, despite countless promises...I did get a zip drive for Christmas.
A zip drive? Wow - they must have raided the obsolete surplus stores - perhaps next year will be a 5.25" floppy disk drive?
scouter
Posts: 659
Joined: Fri May 28, 2010 11:24 pm

Re: How was your bonus?

Post by scouter »

I work for myself and business is down, so no bonus for me, says me. I'm a tough boss to work for.
zaga21
Posts: 63
Joined: Sun Sep 27, 2009 9:21 am

Re: How was your bonus?

Post by zaga21 »

I got a raise at review time, then shortly after that a promotion with another raise. My bonus was a bit smaller than 2010, but that wasn't surprising as 2010 was much larger than I was expecting. The company is not doing as well by the numbers this year, so even though I'm now in a higher bonus bracket I would not be surprised to have an even smaller or even nonexistant bonus for 2012.

Mu husband didn't get a bonus in 2011, but his company gives out a max of $250 for bonuses so no biggie. They did increase the company match for the 401-K starting in 2012, which is very nice!
Zaga
likegarden
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Re: How was your bonus?

Post by likegarden »

I was not a financial or government worker, I am now retired. The pension from my former employer is not inflation adjusted, is like a fixed annuity. Once in a blue moon or every 5 years we get a 13th pension check, yes that was my bonus, I liked it.
milestogo
Posts: 193
Joined: Sun Aug 08, 2010 7:16 pm

Re: How was your bonus?

Post by milestogo »

My salary was reduced by 15% but I got a 2% bonus. I was informed this was good news! Really?
I do have a good job so I am not complaining; the orwellian double speak is annoying.
Flashes1
Posts: 1010
Joined: Wed May 07, 2008 7:43 am

Re: How was your bonus?

Post by Flashes1 »

I work for a top 10 bank, last year's bonus was "take your breath away" large.....but it essentially made up for no bonus in 2010 because the winds out of Washington weren't kind.....this year we've been told they should be approx. 80% of last years which would be pretty good. Our dept. has had record years......time to step up in houses and spur the economy time! :D Breaking ground in March.
daggerboard
Posts: 131
Joined: Tue Jan 24, 2012 2:16 pm

Re: How was your bonus?

Post by daggerboard »

Happy with my bonus - 25% more than last year.

One thing I struggle with is the bonus tax math. I get my bonus in December, so it should be taxed at the marginal tax rate with some minor adjustments (e.g., whether or not I exceed socsec withholding etc).

I have a detailed excel model where I predict very precisely my net paychecks for my regular monthly income, but no amount of fiddling and research gets me to the actual withholding #s for my year-end bonus.

I think the payroll processor's algorithm may be a bit off (withholds too little).

At this point, I just assume a lower net pay-out than I actually end up getting, and simply earmark the excess for the check to the taxman come April.
Anon1234
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Joined: Sat Feb 26, 2011 10:32 pm

Re: How was your bonus?

Post by Anon1234 »

Good bonus, but...

The setup: Our compensation people have pay ranges and bonuses. If you are at midpoint, and bonus is "at target" our company pays at the 70th percentile compared to their survey of peers (I believe they buy that peer survey from Aon Hewitt). With no bonus midpoint pay is about the 40th percentile. It takes about 5 years of solid, productive performance reviews to get from entry pay to midpoint (training and job transition learning years are not considered productive).

So, I'm at entry pay, but we're getting good bonuses this year, about 150% of target. I suppose that puts me somewhere around 50-60th percentile for my industry peers.
Die Hard
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Re: How was your bonus?

Post by Die Hard »

Only bonus is if we exceed our quota. After about 4 quarters, you're quota is unreachable, so no more bonus.

Kinda the "dangle the carrot" trick.

401k match cut in half.

No raise in 3 years.

I still have a job but when times are tough, corporate expectations get mind boggling.
The best way to teach your children about money is to not have any.............
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norookie
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Re: How was your bonus?

Post by norookie »

:peace
Last edited by norookie on Mon Feb 13, 2012 12:23 am, edited 1 time in total.
" Wealth usually leads to excess " Cicero 55 b.c
IowaFarmBoy
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Re: How was your bonus?

Post by IowaFarmBoy »

Jelly of the Month club
-Clark Griswald

:lol:
alloy
Posts: 1
Joined: Fri Oct 21, 2011 9:51 pm

Re: How was your bonus?

Post by alloy »

I work hourly. I think I might just treat myself to some fat overtime to earn my bonus. Couldn't be happier.
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interplanetjanet
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Re: How was your bonus?

Post by interplanetjanet »

Higher than last year, but corporate earnings are significantly higher as well. Half of mine depends on corp performance and half is personal, though if either one is too low there's no bonus at all.

I'm first and foremost happy to have a job that is reasonably secure, provides a good level of benefits and is engaging and challenging. Most days, I enjoy getting up for work.

-janet
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BHCadet
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Re: How was your bonus?

Post by BHCadet »

My bonus is not much. :annoyed
But, it is more than double last year. :sharebeer
beckjl727
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Joined: Tue Nov 15, 2011 10:03 am

Re: How was your bonus?

Post by beckjl727 »

It was my first year with a bonus (new job). The bonus was based half on performance and half on the company's profits. I got 6%, 10% was the max I could receive. I'm not complaining.
tdogz
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Re: How was your bonus?

Post by tdogz »

Our company's year-end bonus was 1.7 weeks salary for 2011 (compared to 1.6 weeks in 2010).

I also got a 8% pay raise for the new year and a 10% of my 2011 salary as a one-time bonus, but half of the raise and all of that bonus is because I got a promotion. Of course, even after all that, I'm still in the 15% tax bracket, so the dollar value is probably a lot less than others here who got a smaller percentage.
But I can't complain too much about actually having a job and being almost fairly compensated now. :sharebeer
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Midpack
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Re: How was your bonus?

Post by Midpack »

renditt wrote:At least for those of us working in the financial industry, it is bonus season. Just curious how everybody is doing.
My bonus was a little higher, though far from the peak around 2006. I was/am not in financial services. Your experience in finance runs contrary to everything I read about Wall Street bonuses in the last few months though..
You only live once...
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mgullo
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Re: How was your bonus?

Post by mgullo »

lrisius wrote:Jelly of the Month club
-Clark Griswald

:lol:
Irisius, that's the gift that keeps on giving throughout the entire year.
Aim above morality. Be not simply good, be good for something. | -Thoreau
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