Aquistioned into Optum this year…do all levels get bonuses? When are bonuses given out (assuming separate from merit which I hear is dreadful)? Is there also a Holiday bonus? Hoping our division makes it long enough not to see more layoffs before bonuses are released.
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The merits and bonuses funding are garbage ouch. Inflation is going to absolutely ki-l the lower and middle class. You got a 3% merit budget baseline last year and that was supposed to offset the 25% cumulative CPI increase since 2020. Now were back to our usually pittance. They will say you are lucky to have a job with a major recession inbound.
No merit increase for higher salary grades.
Bonus funding it super low. 60% of target.
Compensation planning was to start today but has been delayed.
Almost as good as a chocolate bar is when we get a email from "Total Compensation" and it's a coupon to the company store for "get $X off when you spend $Y".
I got a chocolate bar when Optum or UHG or whoever made a billion during the year in profits. Guess what the wrapper said:
"Thanks a billion!!!!"
There's your answer.
What is merit funding and entity factor this year?
Should out funding in the next week or so.
Any leaks/rumors on what merit and RRP funding will be this year? One post said less than last year, curious if anyone is getting wind of specific amounts.
It has happened in the past where one got laid off right before the bonus took effect thereby losing their bonus.
Was just told by leadership bonuses and raises will be less this year than last year
I hope your wrong but I've worked here long enough to know you're probably right.
The available bonus money and promotions is very limited this year. 90% of team members will not receive a promotion and 50% wont receive a raise.
I believe it’s grade level 27 and above that qualify for performance incentives. Percentage is based on grade level. Usually paid toward end of March
My boss refuses to give out any 4s or 5s. Typical bonus in my dept is $700-900
You’d be lucky to get a subscription to the Jelly of the Month club here. Once our org was acquired, earning potential and comp was decimated.
Straight from Sparq
New salary effective day: 2/25
First paycheck: 3/15
RRP Effective: 2/11
RRP Paycheck: 3/1
Seems like you found the wrong board for your topic. Seriously you might want to look at the information online as their a lot available.
Discussing Bonus in a layoff site. Great!
BoNuS??!! LOL
Holiday bonus?
They don't even wish you Merry Christmas or Happy Holidays!!
When we were acquired the amount of % bonus we could earn up to was in our job offer. It was a good 3 to 4% less than what my company before acquisition offered my position. So in the job offer it said for 2024 only I would get a pay out of xyz to compensate for loss of bonus potential. So technically by being acquired by Optum I lost a bit of $$ earning potential. Though bonus was never guaranteed anyways.
I have gotten bonus every year in the beginning of March after yearly review which was separate from merit (1.5-2%). No holiday bonus for sure.
No holiday bonus in 10+ years and dont expect there will ever be one never is in large corporations. merit is always low single digits to eliminate the recurring liability on the books. they play the game like everyone else of one time bonus each march then the popularity game resets for another year. merit if you get one hits end of february. this is about the only constant in optum. everything else at optum several times a year they fire up the music and the musical chairs begins and you hope you are near a chair when the music stops for that iteration of the hunger games.
There is no such thing as a holiday bonus
Bonus is separate from merit. And YES merit is nothing. For merit the teams get a % and it is divided between FTE. Each level above you also holds out a portion of that. And that % has to include any promotions (as there is not a separate promotion $). If you get 2% you are doing well, and that means someone else got 0. For bonus, there is a seperate % teams are given. Everything is bell curved and stack ranked. If you get a 4 or 5, you will likely get some bonus.
Good luck. You probably want have a job in a month. This place is sh-t.
Merit and bonus are given after your yearly review (at least for OptumRx where I am). Never seen a holiday bonus since I've been here.