Spinoff - Do you get a end of year BONUS?

Just curious what the norm is.....
Is it Holiday?
Is it merit based?
Is is part of your contracted salary?

Spinoff - Do you get a end of year BONUS?

We used to get a Holiday bonus of 2 weeks salary in mid-December, but they did away with it this year and now we get a merit based bonus that comes in March.

Spinoff - Do you get a end of year BONUS?

no- i am a teacher

Re: Spinoff - Do you get a end of year BONUS?

To answer my own question, we used to get one weeks pay. This year, it is based on Merit and the meeting of certain set financial milestones that are you are being measured against. If you meet your set criteria AND the company as a whole makes their EBITDA goals, then there is a payout.

I should add this is for Manager level and above, all non manager employees still get one week.

The payout is calculated the same for all levels manager and above as a percentage of your salary.

Message edited 12/14/2015 11:29:27 AM.

Spinoff - Do you get a end of year BONUS?

I was told at my company its random who gets a bonus. No one knows who might get and the reason why.
If I receive one I will post it :)

Spinoff - Do you get a end of year BONUS?

Yes, we both get variable comp. Merit based but my year end is in September so I got mine already. It's a percentage of salary depending on my performance rating and the performance of my firm. My DH gets a hefty year end bonus but it also depends on how his fund does. Neither is holiday related or guaranteed.

Spinoff - Do you get a end of year BONUS?

I think the norm really depends on the industry. It's tough to compare across the board. Like normal in sales or private equity is completely different than normal in government or an office manager at a paper manufacturing company, KWIM.

Re: Spinoff - Do you get a end of year BONUS?

Never in 20 years with this company have I received a bonus.
Only management receive fiscal year end bonuses.

Eta : only management level receive bonuses. Administrative staff are not recognized.
I with two other women, fought to get bonuses for administrative staff and won, but that bonus is tied to the company's performance in meeting their financial goal for the year. Since the goals are so overstated, admin staff will never get a bonus.

Message edited 12/14/2015 11:48:53 AM.

Spinoff - Do you get a end of year BONUS?

I used to, but now I work for the state, so no.

Re: Spinoff - Do you get a end of year BONUS?

Re: Spinoff - Do you get a end of year BONUS?

My bonus plan is quarterly and based on how well my region does .

It's not guaranteed.
And it's nothing to write home about even when we do well as a region. As in, after taxes, it's barely anything.

Message edited 12/14/2015 11:58:23 AM.

Spinoff - Do you get a end of year BONUS?

Nope, I only get a bonus when I get my salary increase each year (in August).

Re: Spinoff - Do you get a end of year BONUS?

No, I work in Civil Service.

Our compensation is set on a contract.

Spinoff - Do you get a end of year BONUS?

I've worked in higher ed for almost 20 years in 4 different states and none do holiday bonuses.

Spinoff - Do you get a end of year BONUS?

Yes. It's different every year, so I'm not really sure what it's based on. I always assumed it was based on how well the company did that year.

Re: Spinoff - Do you get a end of year BONUS?

I get a bonus in the spring at the time of our reviews. It's a mix of how long you've been with the company and performance.

ETA: Also, how well the company did the past year.

Message edited 12/14/2015 12:10:55 PM.

Re: Spinoff - Do you get a end of year BONUS?

Me - No, I'm a teacher.

DH - No, he is an engineer for an well known international company.

Re: Spinoff - Do you get a end of year BONUS?

Yes.
It's given as a holiday gift in December. I work freelance 1099 for a small company. She takes the few people that work for her out to dinner. She gives a $$ gift and also a gift card to a spa. I'm not sure what she bases it on but I'm always appreciative for any gift given

Re: Spinoff - Do you get a end of year BONUS?

nope

Re: Spinoff - Do you get a end of year BONUS?

Nope.

DH does, but his boss gives it on Christmas Eve (they work half a day) and it generally amounts to a weeks pay pre-tax, he does some cash/paycheck.

Message edited 12/14/2015 12:37:53 PM.

Re: Spinoff - Do you get a end of year BONUS?

Not for me since I'm a sahm
Dh gets one based on his contract but it's tied to how well the company does. Every year it varies.

Spinoff - Do you get a end of year BONUS?

I get a bonus every year in March, it was included in my offer letter and the target bonus for my level is 20%

Spinoff - Do you get a end of year BONUS?

yup, early December. it's merit based, but also depends on how well the company is doing. this year, we are doing very well and so did I. which equals, very nice bonus for me this year.

Re: Spinoff - Do you get a end of year BONUS?

Yes, in December as long as the company is doing well. So far we've gotten one every year. It's equivalent to one week's pay.

DH gets one every year in march. It's equivalent to 8% of his salary, which is a pretty sizeable bonus.

Message edited 12/14/2015 3:53:02 PM.

Spinoff - Do you get a end of year BONUS?

Nope. We usually get a $100 gc as a general "thank you for your hard work this year" gift but that's it.