I just had my review with my boss...I expressed my concern that my bonus was less and less since I started 4 years ago. He said the comp number, say 85% is paid out based on your payout of the previous year and not the negotiated bonus number when you started...the heck is this calculation? Is this common knowledge?
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Just wait until you have to pay capital gains on that 60%
Current VP, they stopped doing the perpetually lowering bonus 1-2 years ago. This was a First Data tactic and it su-ked bad since there was no way to increase the bonus, just decrease. Today, bonus targets are fixed and shown in Workday to your manager only. The actual payouts vary based on the funded pool for the year. The funding provides your manager a range to allocate to you based on your performance rating.
Good info @a3+1jm0t4rjm thanks
Combined with the ability to buy stock which used to be a 10% discount (maybe even 15%, but I'm not sure of that) and now it's only 5%. Now, I swear the stock price jumps just as they buy your stock at a discount. I stopped buying Fiserv stock because after setting aside 5% of my paycheck, they'd buy stock and it would be worth less a week after purchase (including the 5% discount they give you). It really feels like a scam.
Fiserv has been stripping away our benefits year over year and the cost of living increases are way under inflation.
I am long gone from Fiserv but as a former people manager, I can confirm that they lowered the bonus pool every year.
Let's say you got a $10,000 bonus in 2018. In 2019, you were funded for $9,000. If the company decided that performance allowed an 80% payout, your target was $7,200. And your manager might give part of your payout to someone who was making far less than you.
If you read your comp statements, you lose money every year in incentive pay.
fiserv stock is up so shut up and stop whining. We are making it rain over here, breh.
Everyone not bonus incentive eligible gets 15% for a new employee appreciation initiative. The numbers for Fiserv are paying off. Unfortunately it is not applicable to bonus eligible.
Most people working at Fiserv aren't bonus eligible. Get over entitlement.
The bonus process is completely messed up and it’s not clear if it’s intentional or incompetence. This years bonus is based on what was awarded last year unless your bonus target was renegotiated during the year. It means that if you were awarded more than 100% you get that credit in future years whereas bonuses for others is eroded over the years. Managers can’t even see what was negotiated in your contract.
To make things worse, if your bonus is reduced to top up someone that exceeds/far exceeds and then that person leaves the team the budget goes with them making it impossible for your manager to rebalance bonuses next year (assuming they even have a clue what the actual targets should be).
And if your new and your manager thought that it was a good idea to prorate your bonus then they have sc--wed you for future years
I wish we still get bonuses. Stopped in 2022
That’s what I was told but 85% is pretty generous. I received 70% 😂
VPs are getting 18.5% cash this year
we get less but guess who that doesn’t apply to
SVPs and above all get more. Basically our bonus reductions goes to them via stock options.
It no longer matters how well you do in your job at Fiserv as you won’t ever get more than average. It’s just about survival now. Just do enough to get by and survive.
it’s a game and it’s rigged against the vast majority of us (all below SVP). You can never wi. this game. You can only tread water….or find something else.
our dept beat goal by many many millions of $$. where did that go? you guessed it.
False. You have your personal bonus amount. Say 10k. They then determine what % of the bonus pool they will pay out. This year I’m hearing it’s 90%.
Your direct leader is then given the opportunity to decide if you get that full 90% or if they will take some from you to pay more to another person.
If you get the full 90%, it’s then split between cash and stock based on level. 60/40 for manager, 70/30 director. Cash being the smaller amount of course. Director and above having to sign 2 year retention agreement for the cash. Everyone signs retention for equity, leave it on the table if you choose to leave.