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Do you get a bonus at work?

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    Do you get a bonus at work?

    I know the topic of bonuses comes up now and then. I've never worked in a corporate environment where getting a bonus was a thing so the whole concept was somewhat foreign to me.

    I'm now working part time for a large hospital system and there is a quarterly incentive program. I got the first quarter payment yesterday and was very surprised. I was expecting maybe a couple hundred dollars but my share of the incentive pool came to $2,069. If that's going to be a quarterly occurrence, that's awesome. That would work out to almost 8% of my income.

    Do you get a bonus? How much is it relative to your income? What is it based on? Does everyone get the same amount or is it based on performance measures or tenure or some other factors?

    Mine is based on a number of performance and quality of care metrics so the amount each provider gets differs based on their personal performance.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

    #2
    congrats on getting your bonus - it appears this new job is really working out well for you!

    My bonus target amount is 12% (or so).

    That number is adjusted up or down based on performance of the company and my overall performance.

    I've been at the company for 16 years and the bonus structure has changed so it wasn't always that way. The past 3-4 years have seen really good bonus amounts where my net amount was actually more than the gross amount that I used to get. with previous bonuses.

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      #3
      My max bonus would be 30% of my salary and I normally get 25%, it is paid every March.

      Half is based on company results which all of management gets and half is based on individual employee goals.

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        #4
        I get a bonus and stock (restricted stock units).

        Bonus is based on a formula:

        Base salary * .38 * division performance bonus * personal factor

        Division performance is based mostly on profit delivered. It can range from zero to 2x. Personal factor is based on the boss's evaluation of me and can range from zero to 1.4

        Biggest bonus I could get is:

        base salary *.38 * 2.0 * 1.4 = 1.064 bas salary

        I usually get 70% of my base salary as a bonus.

        Stock is completely arbitrary. But I get about 80% of my base salary. It vests after 3 years and I am well into the 3 year cycle.

        All together, my total bonus seems to be running around 1.5x base salary. As I move up the food chain, that will will move up to 3x or more of base salary.

        My boss has a base salary of $650k with a total comp of $3M+, so as you move up the chain, more of your salary is bonus. Our CEO has a base salary of $1.5M with a total comp of $7M-$12M.

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          #5
          Originally posted by corn18 View Post
          All together, my total bonus seems to be running around 1.5x base salary. As I move up the food chain, that will will move up to 3x or more of base salary.
          WOW!
          Steve

          * Despite the high cost of living, it remains very popular.
          * Why should I pay for my daughter's education when she already knows everything?
          * There are no shortcuts to anywhere worth going.

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            #6
            I worked for commissions therefor I was not given bonuses, but for those who worked for straight salaries were given bonuses. Must be nice for those who already have a fat base pay.
            Youtube Channel: https://www.youtube.com/channel/UCbV...5W56pRkf4EM6XA

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              #7
              My husband receives bonuses at his day job. He is eligible for a 10% incentive bonus each year, and also often receives bonuses for particular projects he works on. His project bonuses range anywhere between $3k and $10k per project, and happen multiple times throughout the year.

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                #8
                We have annual bonuses (5-7.5% based on company performance, and 0-7.5% based on individual performance) So 5-15% overall bonuses can be recieved.

                The last 3 years have been 13%, 13%, 10% for me

                My favorite part of this fairly recent bonus program is that it counts towards my "highest five year average salary" used for pension calculation.

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                  #9
                  I gave myself a bonus last year - a 1971 Honda Trail 90.
                  How can you have any pudding if you don't eat your meat?

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                    #10
                    Originally posted by TexasHusker View Post
                    I gave myself a bonus last year - a 1971 Honda Trail 90.
                    If that's how we're tracking bonuses, I gave my wife a 2015 BMW Z4.

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                      #11
                      Originally posted by TexasHusker View Post
                      I gave myself a bonus last year - a 1971 Honda Trail 90.
                      Not the type of "bonus" I was referring to.

                      If you want to go there, my recent "bonus" is the last minute trip we are taking to Florida in 3 weeks to attend a special event that we had resigned ourselves to missing. It will probably cost us about $2,000 for less than 48 hours in town.
                      Steve

                      * Despite the high cost of living, it remains very popular.
                      * Why should I pay for my daughter's education when she already knows everything?
                      * There are no shortcuts to anywhere worth going.

                      Comment


                        #12
                        Originally posted by TexasHusker View Post
                        I gave myself a bonus last year - a 1971 Honda Trail 90.
                        I love those. I almost got one for $200 because the woman didn't know what it was, but someone beat me to it.


                        My husband gets a bonus in March. It varies greatly and we have no idea how they determine the amount. He also gets bonuses each time he writes a patent, but it usually isn't that much. I think he likes the certificate they give him for the patents more than the bonuses. There are also little bonuses if they notice he put in extra effort, but those are only about $50 or $100.

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                          #13
                          Originally posted by disneysteve View Post
                          Not the type of "bonus" I was referring to.
                          He knows that. You know he knows that. Yet he persists.

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                            #14
                            Originally posted by msomnipotent View Post
                            I love those. I almost got one for $200 because the woman didn't know what it was, but someone beat me to it.


                            My husband gets a bonus in March. It varies greatly and we have no idea how they determine the amount. He also gets bonuses each time he writes a patent, but it usually isn't that much. I think he likes the certificate they give him for the patents more than the bonuses. There are also little bonuses if they notice he put in extra effort, but those are only about $50 or $100.
                            What do you think a nice Trail 90 is worth these days?
                            How can you have any pudding if you don't eat your meat?

                            Comment


                              #15
                              All I know is blue collar type jobs with no degree necessary, my bonuses were a turkey on thanksgiving, Girl Scout cookies for Easter, care basket for Christmas, case of beer or a company BBQ every holiday, never got a monetary bonus but I have gotten severance pay and collected unemployment 2 times for around 30k, those are my bonuses
                              retired in 2009 at the age of 39 with less than 300K total net worth

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