Year-End Bonuses

Discussion in 'Off The Beaten Track' started by mkats, Dec 28, 2010.

  1. mkats

    mkats New Member

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    Does your company do them? Do they vary from year to year/performance/years you've worked there? Do you get cash/check or food and gifts?

    This is my first full year working (graduated college in May), so I was just curious to hear your stories :)
     
  2. oleada

    oleada Well-Known Member

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    I used to work for a non-profit. We got an umbrella :shuffle:
     
  3. mmscfdcsu

    mmscfdcsu Skating Pairs with Drew

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    I work for a non-profit. We get an umbrella...if we donate at least $52.00 to the agency. :mad: No bonuses in social work
     
  4. nerdycool

    nerdycool Well-Known Member

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    I don't work anymore, but at my last job, they did not give out bonuses.

    My husband gets them though, and it's different every year. He works at a credit union, so it all depends on how many accounts are opened/loans given out/etc. It usually comes as a check, except for one year, when someone thought that everyone in the company needed a leather coat with the company logo on it. It's a nice coat, but I heard many say that they'd rather get cash instead of items.
     
  5. skateycat

    skateycat Minecraft Widow

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    My husband works at a non-profit. Last year he got a bonus of approxmately $1000. This year - no bonus. There just wasn't the money to do bonuses, but everyone got a small raise in the fall.
     
  6. KikiSashaFan

    KikiSashaFan Well-Known Member

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    I got a turkey. I'm a vegetarian, so I gave it to a soup kitchen.
     
  7. KatieC

    KatieC Well-Known Member

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    I don't get bonuses now, but did at one job in the past. The first year I got $100.00, which was quite nice. The second year I got a fleece jacket with the company logo, but I hated the company by that point, so I quit, kept the jacket, but unpicked the logo.
     
  8. SoNaoWat?

    SoNaoWat? New Member

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    I work in franchise business, and my employers have given us cash bonuses/Christmas gifts over the years. I have always assumed they went by years of service and the economy, because it seems like the amount has varied between $50-$100. Actually, I think maybe they started at $50 and just gradually increased. This year it was $100.
     
  9. Bailey_

    Bailey_ Guest

    As my former boss used to say - our bonus is that we have a job to come back to after the holidays... I work for an organization where the knowledge that you are providing a good service is the only bonus we ever get. Wish that I worked in private sector though because some of my friends get pretty nice bonuses every year...
     
  10. vesperholly

    vesperholly Well-Known Member

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    At my first job, we got a $30 gift card to the local supermarket and the week between Christmas and New Year's as paid time off (in addition to our regular vacation time).

    My current job is at a newspaper. I am lucky to still have a job. :shuffle:
     
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  11. dbell1

    dbell1 Well-Known Member

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    My one job gave out bonuses based on how much profit the reinsurance brokers brought in. One year, it was $4000, which was MAJOR in my life, the check (after taxes) helped me redo my living room. Then the industry tanked after 9/11/01, the bonuses ended and we were all out of a job within 15 months. Now I'm at an employee owned company. No bonuses, but there is company stock that we get once a year (normally in March). After 5 years, I own $20,000 in stock. Some people made a killing when they switched the stock options, my one coworker bought a house. Cash. :eek:
     
  12. Aussie Willy

    Aussie Willy Well-Known Member

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    I get a yearly bonus with my company which is paid about September (after the end of our financial year). However you lose about a third of it in tax. My first year was $1,000 and this year it was about $2,000.

    I think we also get shares in the company after being there for 3 years and then yearly after that. So I should get some in the next year.

    We should also be getting a company wide payrise in the new year too.

    I work for a pretty good company!
     
  13. MacMadame

    MacMadame Internet Beyotch

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    I've never worked at a job that gave out Christmas bonuses. My current job has a bonus program but it's given out at the end of the fiscal year (which is Aug 1st) at the same time as annal races. The bonus is based on a combination of company performance and personal performance and average is 15% of your salary. So it's quite hefty. We get RSUs when we sign and often every year after that as well. They used to do stock options but now not so much.
     
  14. millyskate

    millyskate Well-Known Member

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    I worked for local authorities in my first job, and we got a nice 300 euro Christmas bonus. Now, I'm unemployed and get an "unemployed" 150 euro Christmas bonus, except they're late with the paperwork and I've been told it'll come in january.
     
  15. briancoogaert

    briancoogaert Well-Known Member

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    I have nothing, nothing, not even a chocolate !
     
  16. judiz

    judiz Well-Known Member

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    My boss stopped giving out bonuses two years ago, said the company couldn't afford it anymore.
     
  17. Aceon6

    Aceon6 Get off my lawn

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    Firm was bought this year, so I'm not sure what to expect. Prior firm did bonuses in the spring for qualified employees (high rating and full year of service) that amounted to less than 1 week's pay and turned into nothing after taxes and 401k contributions came out.

    We did get a $50 gift card as a holiday gift.
     
  18. Rex

    Rex Well-Known Member

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    In the federal government, at least where I work, we get nominated for cash awards, and extra leave. I used my extra leave already and we got a $500 cash award for the work we did for the Deepwater Horizon project.
     
  19. Skittl1321

    Skittl1321 Well-Known Member

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    I've never worked for a company that gives bonuses, or any sort of gift (like on TV some people get Turkey's for Christmas- is that real? ETA: Read the thread instead of scanning and someone mentioned they did. Crazy! Who gives away dead animals?) I work in educational publishing, and am now at a not-for-profit.

    At our last staff meeting my manager gave everyone a scratch off lottery ticket (she joked she picked a low paying one so that no one could retire). Maybe 3 people won a buck each :)
     
  20. sk8pics

    sk8pics Well-Known Member

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    We get a "bonus," in February, and it is actually referred to as variable compensation. So, it's part of our salary but the amount varies each year according to your performance, your business unit's performance, and overall company performance, and also your pay level. For me it is usually about 1 1/2 months pay but last year we had a very good year and it was actually about 2 months pay. We get all cash these days, partly because our 401K contributions (and the company match) apply to our bonus, but they used to give a combination of stock and cash. I like it better as all cash.
     
  21. eliza61

    eliza61 Active Member

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    Wow, if Aussie Government workers got paid cash awards the taxpayers would be outraged and it would on the front page of every newspaper.:eek: I think it's a great idea :D

    I'm a government worker so to speak (nurse) and no cash bonuses for us other than penalty rates for public holidays.
     
  22. UMBS Go Blue

    UMBS Go Blue KWEEN 2016! YES WE KWAN!

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    I used to work on Wall Street and, even off Wall Street, in Wall Street-type positions. :shuffle:
     
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  23. Rex

    Rex Well-Known Member

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    Well, it is taxed to death, so we only get to see $300USD of that, so......it evens out in the end. They have to be competitive with the private sector; bonuses and cash awards help with retention.
     
  24. Stormy

    Stormy Well-Known Member

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    At my last job, we got bonuses depending on if the sales force hit the yearly goal. One year we got quite a nice chunk of change, the last year I was there we got bupkus. At the place I work now, there's been a salary increase freeze for about two years that was lifted recently. There's no bonuses, but people will at least get raises in 2011. I actually got a fairly substantial raise when I made a lateral move in the company so I was happy with that this year. My husband got a ridiculous bonus, but he works for a large corporation in our area. The kind that has their logo plastered all over Fenway Park and Gillette Stadium.
     
  25. PDilemma

    PDilemma Well-Known Member

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    At my last job, our Christmas bonus was a half pound of sausage.

    My husband's company gives out very generous bonuses every year. And everyone is getting a very generous raise in January as well.
     
  26. genevieve

    genevieve drinky typo pbp, closet hugger Staff Member

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    For those asking about giving out a turkey - I'm not sure where the tradition started, but in the US bonuses are considered taxable income, including gift cards, unless they are one-off goods. A gift of a holiday turkey is actually mentioned as a non-taxable example :p But if you are given a $100 gift certificate to a spa, say, your employer is supposed to report the $100 as taxable income on your check as well. It won't change your gross wages, but it should change your FIT/FICA withholding. Anyway, it could be the employer trying to find a way to give a non-taxable gift, although so many people are vegetarian now it seems outdated to give a turkey.
     
  27. Aceon6

    Aceon6 Get off my lawn

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    I remember the outrage when a former employer discontinued the turkey/ham giveaway at the holidays. The single folks were happy, but the ones with families really looked forward to the 20 lb turkey or 10 lb ham.
     
  28. my little pony

    my little pony snarking for AZE

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    I'm too much of a wuss to carry anything heavy or frozen out to my car. I would have probably abandoned it somewhere. But when it comes to giving stuff away, they can't win. We got target gift cards this year. I gave mine away.

    As for the OP, we have a common anniversary date in March. Top producers get a bonus based on the company's performance. I know I'm lucky to get one every year since so many people don't have that option at their place of employment and also because we have had 2 rounds of layoffs this year.
     
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  29. manleywoman

    manleywoman podcast mistress

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    A friend of mine who is a Physician's Assistant got a bonus last year of $60,000. That's more than I make in a year.

    And this is one of the many reasons I'm considering becoming a PA.
     
  30. barbk

    barbk Well-Known Member

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    An employer my husband worked for about ten years ago gave out holiday turkeys/hams -- but not by literally handing out stuff. Instead, everyone got a $25 gift card for one of two big supermarket chains and you were free to use it on turkey, ham, tofu, or whatever you liked. The IRS blessed that as a "de minimis" gift that did not affect taxable income.

    His current employer does do bonuses, but in March, right before property taxes are due. If you're a good performer they typically come to about 10% of base salary. They did have salary freezes for the past two years, so the bonuses really helped. I'm hoping that the salary freeze is gone for this next year.