I posted this within another thread, likely nobody would see it. Curious as to what I (air quotes) should be getting or what the historical trend was. I am a P3 senior bus consultant making just over 115k. Meets perf rating and meets risk overlay. What should bonus be? I want to be able to negotiate for following years or move in to another role. Thank you in advance.
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As others have shared - your bonus will largely mirror last year. The guidance has been very clear that for anyone with a 2 rating you will get crushed. If you get a 3 you should expect to be flat or a little increase. For a 4 or 5 you can expect a larger increase. Not much, of course, since whatever additional comp comes your way from the higher rating gets pulled from your peers who were "only" meets. And getting those 4's and 5's are nearly impossible - giving you a 5 will force your manager to give a peer a 1 or 2 peers 2. Sure there is no forced distribution. Just ask any manager how the conversation goes when they don't balance out to an average of 3.
It's really sad that key performers, who put in tons of extra hours, are rewarded with a few extra thousand bucks. And they end up hurting their peers because you have to take from your overall pool. If you put in an extra 10 hours/week (500 hours/year) the reward for your commitment works out less than minimum wage. Absolutely no incentive now for people to push extra hard and make the company better.
Your bonus is based off of last year's bonus. It's up to your manager to allocate funds to your bonus. If your manager has a bonus pool increase of X amount, then she'll allocate the funds across the team. Your salary has nothing to do with it.
Your title says “equity” - there are no equity awards until you get to the 50K bonus level. At that point and up, the cash/equity split is predetermined. It starts at 20% equity
For your level, it’s all cash. What you get this year depends on what you got last year, adjusted for performance. If you are “meets” you can expect flat-ish.
There is no negotiating for future.
Thanks all. The TVC, sounds like is a total cr-p shoot. Someone can just ki-l it one year and because the company lost money, the employee is screwed and would get the same as another who didn’t do wh-t the entire year.
Approximately $8,500-$11,000
The percentages others are quoting refer to cash bonus FYI. Equity comes into play when the bonus amount is over 50k, which almost certainly won’t apply.
Target used to be 10-15% for that role, but we no longer have “target” bonuses. And it depends on funding levels. So if board approved 80% funding of bonuses and you would normally get 10%, you would get around 8% (because while the board approves the broader funding, some LOBs and groups within get less, some get more to balance out to 80%. But with TVC now, it’s a cr-p shoot. Now it depends on what you got last year for bonus. If you got 8%, anything greater than that is considered a blessing, but likely you would get around the same amount if your performance remained the same. If your performance or funding went down, you will get less. It your performance or funding went up or you received a promotion, it may go up, but all of those variables are in play so you just never know and you won’t know what the board funded or what your LOB was allocated unless you know someone who knows. Even most managers only know what they were allocated to give out, not what their overall LOB was funded at or what the board funded overall.
If you’re asking this question, it makes me think of Christmas Vacation and the “jelly of the month club.” If you don’t understand this quote, watch the movie. It’s a cautionary tale about spending money that you think you’re going to get.
15%
You must be new to WF… that is not a thing. Lol.
there is no such thing as negotiating for future years - tvc (bonus and equity) is funded as a pct of prior year