When someone says to you "Psych", that means they fooled you.
I just read your ATS Compensation Plan aka Variable Pay Plan. Wow...... WHAT A MATHEMATICAL PSYCH JOB !
Your salary is Reduced by 10% (It's a pay cut)
You're then given a "Founders" bonus of 8% (a bribe with your own money)
For example, you earn $20 per hour. That's $160 per day or $800 per week.
For the year $41,600
10% of $41,600 is $4160. Simple. Your pay cut begins July 2017. Start saving NOW.
Your new salary is $37,440. Not too difficult.
Your "Founders" bonus will be based on your "new" salary. That's $37,440.
8% of $37,440 is $2995.20
For the long term, Altice will save a ton of money. You'll receive a fat check for $2995.20. Your eyes will expand. Your heart will increase speed. You'll finally get that car you've always wanted! And let's not forget the deductions..... taxes.. social.
Also.... it's a one-time deal. It's NOT a yearly thing.
But wait..... where's the rest of the cash? There's $1164.80 missing?
In order to make up for your loss, you would need a 3.11% raise in your next review.
Now you've got your money back. Next year.
And it doesn't include the cost of living... remember that. Prices do go up.
And IF you did receive a 3.11% raise, your new salary would be $38,604.38
To sum it up, this is a short-term, interest-free loan..... for Altice. And it's pretty clever. There is no guarantee what raise, if any, you'll receive. They're hoping it's 2%. Don't forget... your new owner will NOT pay more than he has to. For the long term, Altice will save a ton of money. And the technicians will lose a ton of money.
They're robbing Peter... to pay Peter.
The "founders" bonus is being used as a financial "hook." Your handed a huge check. You'd swear it was Christmas. Now you're hooked. It's tempting, I know. You need the cash and things are tight. What should you do? Your eyes see "green", when in fact, it's actually "red."
It's equivalent to making a store purchase. If you return it, a 10% "return fee" or restocking fee is applied. And it wouldn't matter if you never opened the box.
I admit there are many ASSUMPTIONS used in the above example. But you can replace my numbers with your actual figures and see what you get. If you do so, be sure to have a bottle of aspirin with you.
What's more interesting is the use of the word "Founders". This word is associated with business startups, between you (the founder of a new company) and investors. Here's the online definition from businessdictionary.com:
FOUNDER
The entrepreneur who started a business. If multiple entrepreneurs were involved in the creation of the company, they are referred to as the founders. The origin of the word is that a founder originally meant a person who forges steel; similarly, the founder of a company is forging the new entity.
Are you guys the "founders"? Or is it Altice? I would sincerely ask why the hell it's called a "founders" bonus.
Not sure if I have all the available info. I'm sure there's more. So I thank Altice Technical Services | Post ID: @Ma5WMzO-ejm for the info. His post is down below with a link to what I've read.
Dammmmmnnnn..... What a PSYCH job they pulled. I'm sure you've heard of the old line, "At least kiss me before you ---- me."
Sorry guys. I never knew how bad it is !