Anyone know if we should expect the holiday bonus this year?
17 replies (most recent on top)
Just announced.
Yes.
When they stop giving it to EMG, they gave them a years warning. We can only hope they would do the same for non-EMG.
I would expect a bonus in the form of eagle points or a 1 year membership to the jelly of the month club.
Holiday bonuses are definitely prorated if you started later in the year— i I swear no one actually reads stuff on my total rewards— it breaks it down exactly how it pans out.
Never factor in a bonus of any kind when managing your budget. A bonus is discretionary and can be taken away at any time. Learned that one already!
I have a family member who still works there and she has been told this far (not officially) that rather than being a paycheck that it will be 3% and since she started in the spring it would be prorated by her manager last week
Based on some of these responses, seems like some of these folks are either new hires or not from USAA. Holiday bonus is not prorated and has been paid out since the founding of the company, so understand OP’s question is whether they would enact such a drastic change.
I agree with @zje+1pbrNWbU and @mem+1pbrNWbU; it’s more likely they will layoff/fire more folks before then and/or they will reduce it for next year. I think taking it away last minute before payout would create a bit of chaos, and they would at least “leak” it. I haven’t heard any rumors about it being canceled.
However, always budget for worst case scenario. Also expect a haircut on the bonus next year. They expect some people to leave after they get a bonus, so they will be extra stingy this year i bet given the company’s losses.
Yes there will be one... But... right after the major layoff round
Normally it’s announced the week of Thanksgiving and pays out the 1st pay period in December. I know there was one year, where it wasn’t announced until a few days before the December pay check, which had a ton of people worried/concerned, then that Monday morning, Stuart sent an email announcing it. My safe bet is yes, there will be a holiday bonus this year, but 2024, with all the external hires Wayne has around him now, it wouldn’t shock me if the holiday bonus is cut to only 40 hours of pay or discontinued all together.
Must be approved by the board in Nov. The Employee mtg will be used to say it was approved....
Does anyone in accounting know if they have it accrued?
While it may not be expected it is something that can be predicted.
@lin+1pbrNWbU holiday bonus I don't think is prorated, only performance incentive
I think they will since most of the employees are less than a year in. They will be getting prorated bonuses. I’m sure that was already factored in. They don’t need to cut the bonus. It’s already been cut through attrition. Next year will be the big question.
Of course we’ll get it! It’s the least Wayne and EC can do to justify collecting 200% plus increase in their compensation. I.e., last year’s 4% merit pay increase across the board earned him 157% pay increase.
Even if they do issue it this year, it will be reduced or something else will be cut from you. Nothing is free.
Traditionally, it would be announced at the next employee meeting.
By virtue of being a "bonus", you probably shouldn't expect it. And based on everything else that the company is taking away from us this year, I most certainly wouldn't count on it.