A rant on bonus.....first world problem

[joestifff]

Just need to vent really.....

I am very hacked off with work today. We usually get an annual bonus, this is profit linked, and I appreciate people don't get bonus and I am very lucky to get one, however, the PA asked me to print some letters out, as I am senior I see all the figures etc, these letters congratulate us on our bonus achievement this year and give a figure. All good.

We had a strange year, we didn't quite achieve the desired level of profit, but that is because we sold 80% of the business mid year. I was heavily involved in the sale and transition and will in fact be made redundant at the end of the month. All was sweet and light, I knew for a couple of years I was going, and was happy to be a part of it.

Well she sent me two files with the letters to print, one with the remaining staff who are entitled to a bonus, and one with just my letter in.

My letter states my bonus etc, and how it was calculated on the profit achieved. All good and fair. I am happy.

The other file is everyone else, the people left were also involved in the transition as much as myself, In fact I was more than a couple. Their letters state because they were so good at the transition and have done such a sterling job they will be awarded maximum bonus... Lucky them.

So why am I so pissed off, it's not so much the monetary value (although if I got maximum I would get £15k more) it's the fking cheek of it. The outright lies from my FD and MD saying how we are all treat the same etc etc.

Just shows you, after ten years, you just can't trust them.... wkers.

Apologies about my first world problem rant! Sorry if I sound a bit of a .

[randlemarcus]

On the bright side, if the PA is asking you to do basic admin tasks, you can look forward to perhaps being made up to Senior Receptionist in your next role

Seriously, thats fairly out of order, and I presume the PA thought so too, thus accidentally giving you the letters?

[joestifff]

randlemarcus said:

On the bright side, if the PA is asking you to do basic admin tasks, you can look forward to perhaps being made up to Senior Receptionist in your next role

Seriously, thats fairly out of order, and I presume the PA thought so too, thus accidentally giving you the letters?

Quite possibly, she ranted about printing on headed paper and just asked me to sort it. Actually now I think about it she has never asked me to print anything... I think you are onto something. She is putting a lot on the line though If I complain, as they will just ask where I saw it!

Might just start quoting lines from the letter. Oh well, guess I will have a relaxing 3 weeks until I am gone.......

[Butter Face]

So you're saying that others are getting £15k more than you? £15,000?

How much are you getting?

Because if it's £1000 and they're getting £16,000 I would be going to see the MD with the letters and politely and constructively asking him what the fk is going on.....

Depends on how much you're getting and if you're willing to lose it (probably in your contract that they don't have to pay you a bonus at all?) and you're off in a few weeks anyway!

[joestifff]

Butter Face said:

So you're saying that others are getting £15k more than you? £15,000?

How much are you getting?

Because if it's £1000 and they're getting £16,000 I would be going to see the MD with the letters and politely and constructively asking him what the fk is going on.....

Depends on how much you're getting and if you're willing to lose it (probably in your contract that they don't have to pay you a bonus at all?) and you're off in a few weeks anyway!

Well I am getting £2k, Max i could of got was £17k

Obviously MD and FD etc are getting multiples of my potential max.

People at my level who are remaining with the company are getting similar to me but their max level (anywhere between £10k-£20k)

It is in my bonus letter at the start of the year that it's at "the MDs discretion".

[kiethton]

joestifff said:

Well I am getting £2k, Max i could of got was £17k

Obviously MD and FD etc are getting multiples of my potential max.

People at my level who are remaining with the company are getting similar to me but their max level (anywhere between £10k-£20k)

It is in my bonus letter at the start of the year that it's at "the MDs discretion".

Hate to say it, really unfair but a Bonus is there to incentivise you for the next year (and only partially to reward you for last), if you're leaving it's an easy cost to strip so from a business standpoint can see why it's being done - bit stty though i'll concede.

Be grateful, we have a bonus clawback policy, earn over £x and you've got to repay your last year's bonus when leaving....gross

[Muncher]

The company has to act in the best interests of its shareholders, paying a bonus to someone who is leaving is nonsensical, it's tough on you but I think they have acted entirely reasonably.

[joestifff]

kiethton said:

Hate to say it, really unfair but a Bonus is there to incentivise you for the next year (and only partially to reward you for last), if you're leaving it's an easy cost to strip so from a business standpoint can see why it's being done - bit stty though i'll concede.

Be grateful, we have a bonus clawback policy, earn over £x and you've got to repay your last year's bonus when leaving....gross

That is stty... I feel for you.

It's not so much the monetary that bothers me (although it would be nice, but I was never expecting it). We didn't hit targets, so IMO we shouldn't get it (you can tell I work in finance) It is more that backstabbing and lies, the whole "we will treat you all fairly and equal".

Nobs...

[joestifff]

Muncher said:

The company has to act in the best interests of its shareholders, paying a bonus to someone who is leaving is nonsensical, it's tough on you but I think they have acted entirely reasonably.

I genuinely agree. Getting rid of me as well is the best for shareholders and the family. That is why I am happy to go along with it. Makes perfect sense.

[Muncher]

The only thing you could have done, as soon as you realised that you were likely to be off was had a chat with them and got them to agree that they would pay the bonus at a certain level if you hit some specific targets during your remaining time to incentivise you.

[Du1point8]

joestifff said:

Muncher said:

The company has to act in the best interests of its shareholders, paying a bonus to someone who is leaving is nonsensical, it's tough on you but I think they have acted entirely reasonably.

I genuinely agree. Getting rid of me as well is the best for shareholders and the family. That is why I am happy to go along with it. Makes perfect sense.

This a million times over, I have seen friends get crappy bonus due to them being premature and advertising that they are leaving and as such the company tweaks stuff.

if they kept quiet then they could be fine, but Nope!!!

[anonymous-user]

You could try raising a grievance asserting that you have been treated unfairly as you contributed to the transaction as much as did others who have been more highly rewarded.

The discretion of an employer as to bonus has to be exercised in a rational and non perverse manner.

[Otispunkmeyer]

Man, nearly 20k bonus. That's like 2/3 of my actual gross salary. Goddamit engineering!!!

But I guess London/South right?

[Terminator X]

In other news some people are cheating lying bds. Be thankful you are leaving and literally move on.

TX.

Edit - in my old job an associate handed in his notice just before bonus payments were due. Surprise surprise he didn't get one and others did! He was pretty hacked off too although surely leave handing in notice until after bonuses paid out would have been wiser!

Edited by Terminator X on Tuesday 6th June 18:45

[xjay1337]

Crappy situation, I would be having a quiet word to be honest.

[justinio]

Thats too much £££'s to be taking on the chin. Even if they are looking after you nicely with the redundancy, you're missing out on a potential £15k+.

I'd be having an awkward conversation with the MD. After all, your efforts contributed to the past year performance, which is what the bonus is calculated on. I can understand that they have no interest in looking after you, as you're going (not your choice though), but thats not cricket.