It seems to be very difficult to find any information about this. If a person is to leave 1 month before the end of the fiscal year, does it mean that this person will loose the entire annual bonus (i.e. it will not be proportionally calculated?).
What if the same person decided to stay until the last day of fiscal year (i.e. hand in a notice 1 month before it), would this person be entitled to a full bonus which will be paid out sometime later when s/he is not longer employed?
Not complicated? Oh, it is indeed! While you are eligible for the bonus if you work to the end of the FY, you may want to hold off on resigning until the money is in the bank. VP's have denied bonuses to employees leaving even though they are eligible.
I heard from a colleague in HR that the date would be later this year... up to 2 weeks later... in an they wouldn't comment on whether this was an attempt to burn the unfaithful, or just due to some new finance rules.
@TpZGQzr-ulz: That might depend on regions, but the tools to enter the bonus are frozen around the FY-switchover and then re-openend end of August/start of December. That's when the bonus is entered in the system. They can't do it before.
Yeah - NO.
It’s on CEC under PLI - There’s an FAQ where that’s specifically answered.
Complicated it isn’t. But risky it might be. When there is such an embedded layoff culture in place, there exists a paranoid fear that even innocent questions to HR could result in assumptions and consequences. Every question turns into a recorded case kept on record. Hence possibly the attempt at a finding a safe (albeit less informed) haven for such curiosity.
Just get on the phone to HR you dumb a###. It's not complicated.
I find it hilarious that supposed employees go to "TheLayoff" for HR advice.
"Cisco bonuses are peanuts anyway" - I never got less than 30% and one year nearer 40%
ASK YOUR HR OPERATIVE. WTF.... THE SHORT ANSWER IS THAT IF YOU ARE EMPLOYED ON THE BONUS ELIGIBILITY DATE THEN YOU WILL GET THE BONUS UNLESS YOU MESSED UP ROYALLY. YOU WILL LIKE GET NO IPF MULTIPLIER THOUGH.
Bonuses are decided few days before the end of FY. So, if your manager knows you are quitting, he can screw up your bonus numbers. Ideally, if you want to maximize your bonus, notify your manager after the end of FY. Cisco bonuses are peanuts anyway. So, don't worry too much about it.
Not only that... you want to wait and be on your boss’s good side when they decide on ipf for $ allocation of the bonus. Otherwise s/he will give you such low bonus might not be worth waiting around for it.
You need to be on Cisco payroll on the last day of a fiscal year to be eligible for the bonus.