Has anyone in engineering received a retention bonus? If so, did you just straight up give an ultimatum to your manager to give you a retention bonus or you quit? Also how big was the bonus?
10 replies (most recent on top)
"Retention will not be an immediate payout. It will be RSUs for a future date"
And that's the problem with new RSUs, you could be part of the next Citrix layoff and get nothing. It's a high-risk bet where the employee is fooled with the promise of rewards given later, then the ELT will terminate you before the RSUs mature. No thank you...
"A retention bonus is a one-time event that wears off 1 week after you receive it in your checking account. After taxes you realize how little it became."
Retention will not be an immediate payout. It will be RSUs for a future date (converted to future cash bonus at deal close) to keep you retained. The issue is that the retention is so weak that any offer even from garbage companies will include a signing bonus that is equal or more than your equity/retention year one. Retention has to be greater than basic offers from average companies.
The retention bonus must be life altering to wanna stay when everyone else is jumping ship.
Here you are, waiting for your pot of gold and no one is left to do the work and morale is in the sh-tter. No thanks.
I Agree with last poster. A retention bonus is a one-time event that wears off 1 week after you receive it in your checking account. After taxes you realize how little it became.
However, PRSUs, that’s a whole other story, especially paid out at 200%!
Those would make me stay
As a prior Citrix employee, it's hard for me to believe that a typical bonus could stop anyone from leaving once they made a decision to exit this badly managed organization with a long history of poor performance.
Just leave, and don't look back. Truly, it's a lost cause...
I'll believe it when I see it. I have very little hope there will be any real retention attempts after acquisition. I think if they thought it was important, they being Vista/Citrix/Etc, it would already be done. If for no other reason then to try and stop the bleeding of talented people.
I heard that some type of retention program was coming, but not sure what that means or when. Knowing Citrix, it's probably just some fresh cut fruit and a branded backpack.
I’m not in Engineering, but a colleague of mine recently put in their resignation and the Citrix counter offer was enough to make that person reverse their decision and stay. Not a small number.
No, but there was a signing bonus at the new company.
Never heard about this at least for engineering , when handing in your resignation you just follow the process with HR and MGT, they can't really make you stay if you want to leave, it would make no sense