Are you happy we got something (after all, 2020 is a horrible year) - or, are you upsed because you were expecting more?
9 replies (most recent on top)
... I'm hurting because of the bonus cut. ...
Why are you hurting? It's a BONUS, not a guaranteed part of your annual salary. That's why they offered you $xx,000 - $yyy,000 per year base salary PLUS 8-11% bonus based on individual and company performance.
If you can't live on your base salary, then you're living way beyond your means. You should be saving 20% of your base pay every year for retirement. If you're saving that, then you don't need the bonus. If you get the bonus, you can buy a car, take a vacation, put extra $ away for retirement, put it towards your kid(s) college fund so they don't have to take out as much in student loans and can start saving for their retirement that much earlier.
The bonus was less due to the company factor being .72 when it has been historically 1 or better. Esp with Chambers. That said, i heard many say their managers said they reduced people's IPF to distribute more evenly across the staff. If you are a high performer you got screwed. If you are a slacker then you got a deal.
Once upon a time they actually had managers responsible for annual goals for each employee, measuring to that, and even getting feedback as part of deciding the stack rank.
Now it is a popularity contest and everyone is equal in pay but not everyone is expected to do their job!
I left - good riddance!
So the question is this, was the bonus just junk for those of us that got the ER or LR or was it bad for ALL employees. For those with the terrible bonus, was your IPF "artificially" reflected as terrible as well so that the math worked out? I reverse engineered my IPF based on my bonus for the year and it was absolutely terrible even though I was given a healthy RSU earlier this year. Sounds fishy to me.
My thoughts- Sit and Spin.
Lesson to learn: don’t base your day to day budget on getting a bonus.......
High Tech is cyclical - realize how it is.
This is based on my 40 year career....
And also I think managers sent RSUs to some employees ( not sure what the criteria was) ... I'm in grade 6 , so I think I'm not eligible for RSU ( I heard its only for gr8 and above )
I didn't understand about bonus cut in half part. I think we all got bonus money by september end based on the calculation
Bonus = bonus% x annualsalary × IPF x 0.72 (company performance)
Are you talking about something else ??
I'm in a diversity group, with a very high IPF and in a key area of the growing side of the business. I'm leaving as well. I'm disgusted that the company would buy stock while laying off my colleagues. I'm hurting because of the bonus cut. Final Straw.
800 million in stock buybacks + layoffs (more work for less) yet had solid earnings. So far seen no evidence of promotions or raises to make up for the worse benefits and bonus cut. Basically a big pay cut.
I'm done with this and gone gone gone.