If an employee is planning to quit cisco now, what are chances that manager will give bonus
can he give 0 as employee is leaving Cisco ? or is it dependent upon relationship with manager ? this time we will get 75% of remaining amount right as we received 25% already in March ?
Sure you'll get a bonus if you're on the payroll at the end of the bonus period, but you boss doesn't determine what your bonus is until after the bonus period is over (August). So prepare to get the minimum if they know you're leaving.
1) You have to be on the books as the last day of the fiscal year to be eligible.
2) Your bonus will be prorated based on what your actual salary was for the year (it's not annualized.)
3) If you announce you're leaving after the end of the fiscal year, but before the bonus is paid out, you should anticipate getting shafted at some level.
4) The mid-year was 25%, but that does not guarantee anything about the year end payout. It's dependent on other milestones like topline and bottom line revenue.
5) There is no clawback at Cisco. If the company decides not to pay out a year end bonus, there won't be a penalty/clawback. Anyone suggesting otherwise has no idea what they are talking about.
Actually, reliability varies by state law. In CA you only need to be on the payroll as of the end of the bonus period. That means that if you are on the payroll last day of the year your bonus is earned and payable.
Also since the overall formula is well defined at Cisco you won't get zero but a smart manager will claw back what they can to use for others.
if your manager knows you are leaving he will give you 0%. Why give someone leaving $ when you can give that $ to people that are staying.
Answer - The employee worked very hard during the stay .....you mean to stay he should get 0 ? you seems to be a manager. Then you are bad manager.
if your manager knows you are leaving he will give you 0%. Why give someone leaving $ when you can give that $ to people that are staying.
We may have to give it back this year too. Has happened in the past.
I have no problem calling out bad management (and engineering) but I've never seen this happen. Exactly when did this occur?
We may have to give it back this year too. Has happened in the past.
I'm a dumb--s, so best for Cisco that I do leave, with or wo my bonus.
The odds we are getting the full amount of the remaining bonus is slim to none. There was a year in the past where they were debating having employees give BACK the mid year. There were also ties we received no bonus at all.
Expect maybe another 25 % of the bonus, so it is 50% total for the year. That is a very optimistic outlook, I would not be surprised if we receive nothing at all
How did you know it was me Wang ?
To be eligible for bonus, you must be on payroll on the date it is announced.
P.S. Don't use your name Pajeet