When do they discuss year end bonus? Manager already discuss the new comp but not about the year end bonus.
12 replies (most recent on top)
It means you are not getting one
Waiting for the script to be flipped. Bank had a hard year. There wasn’t much in the pool. Bonus? That’s only for an exceeds. But you are a strong meets. This has become the Hunger Games.
@b3 - WRONG!! I have increased my 401k contribution to 75% every Feb to get the max in early in the year in case I am laid off.
Even with lay off, there is a True Up every Feb the following year with Full Company Match up to the IRS annual cap.
Unless you are fired for cause, in which case all bets are off,
But when you say you have to contribute the lowly 5% every paycheck to make the full match, you are Woefully Misinformed.
In fact, my match is 8%, like many, due to being part of a predecessor company.
@bn he's getting a 115,000 bonus???
Just a heads up to let y’all know the pay discrepancy at this company. Had my chat today and usual bs. My director has directors reporting to him, and during my discussion my director had the paper of the director that reports to him up on the screen- 115k bonus. I’m a VP I get 2k. Fu-k this place.
@b3 Makes no difference, though, if someone is contributing 15% to 401k and skips one paycheck, provided it is enough to cover 5% of total compensation for that year. The bank has a catch up a YE that will ensure the 5% match occurs on the total applicable amount even if one cycles contribution is missed.
Personally, I raise my 401k contribution during the bonus paycheck in order to pay less during the remainder of the year (still over 5%)
That supposed to be part of the comp. conversation.
If 401(k) contribution rate set to at least 5%, company matching then also applies to the bonus. If contribution rate set to zero, you lose company matching not only for your salary for that pay period but also for the bonus.
@ad I think it really depends on the person and whether they consider it worth it or not. I do. I change mine to 0% that week so I won’t contribute anything to my 401k and can get the most out of my bonus. Some people don’t change it, and some just lower it.
I already put 15% into my 401k so missing one paycheck isn’t going to affect me. But if you’re someone who really looks at growth and long term gains, then I’m sure it’s not worth doing
@a5 First year as B5 with bonus, is it worth changing your 401k for the bonus check? I saw the email but didn't understand it really. Taxes and health insurance is still taken out, right?
@a5 how does this work?
Should be this week sometime. as you have the ability to change 401k comp until 2/4