Now that we know the ICP rate %. How is the ICP calculated? I believe its based on your base salary plus the grade you received. Could someone give me an example ?
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Pretty straight forward. Your grade has a % ICP bonus attached to it. You can see it in your contract, letter of variation or on people central. Multiply your salary by that number, then take the result and multiply by the bonus pool figure. That is your expected bonus for a 3 rating. Anything above or below that is due to adjustment from your manager.
$100,000 salary with 8% ICP = $8,000 with a 110% bonus pool = $8,800 with a 90% bonus pool would be $7,200
Can someone provide a simple math behind this calculation?
As a NetApp employee, upper mgmt. did explain ICP calculation to all employees sometime ago but I cannot remember. Need to dig through my past emails/files. Maybe if enough employees ask, this calculations can be explained to us again during an All Hands meeting or company wide email.
Yes, you are correct. And as a side note, why on earth would you accept a role with such dynamics not predefined for you in writing? This is a prime example of c-appy management and poor communication.