Re: payrises and bonuses
 

Hubby just got a nice bonus...that was a surprise for sure. Went to pay some of the Visa off, boring ;-) I get a small bonus most years, usually less than 2k. Nothing to scoff at though, always appreciated. Naomi.

Re: payrises and bonuses
 

I got a pretty decent bonus even though our sales blow. I have reduced overhead in my department quite a bit and I think it was just the owners way of trying to make sure I was appriciated, and not looking elsewhere, despite the poor state of the economy.

Re: payrises and bonuses
 

We get incentive payment (or bonuses) once every six months. This incentive makes up about $10K of my salary - so it's a pretty nice one. The only bad thing is that half of my raise goes straight to fund the incentive, I guess so that the bonuses are large.

The way it works is that there is a pool of money (most from the company, some from this % of your raise) that is for the incentive payment. You receive a share of it based on performance, chargeability, client satisfaction, etc.

Confused yet? I really shouldn't complain, I'm compensated fairly for the most part ... but it feels like a sham to me that I have to partially fund my own bonus. I think it would make more sense for the bonus to just be smaller.

Re: payrises and bonuses
 

That's retarded. There must be some tax benefit for the company or something by doing it that way.

Re: payrises and bonuses
 

We did get an extra pay rise this year ...one in Feb (14.85%) and one just the other week (6.5%). The extra rise was for key staff, things are booming here and people are company hopping, so my employer is keen to retain people ... if your a specialist welder the sky's the limit.....seems years ago everybody decided they wanted to sit in an office with a computer....now there is a shortage of skilled shop floor people.We have people who work in the office Monday to Friday then go out onto the shop floor and weld or run a machine centre on a Saturday ....
Me? I just keep a bunch of metal cutting lasers in good order ;)

Fogot to mention ....we do get a yearly bonus ....kind of a profit share....the owner pays around 10% of your gross annual income(incl. overtime) into your 401K every year

Re: payrises and bonuses
 

My husband is in property development so I wasn't really expecting him to get a payrise or a bonus last year or this year. In fact I wasn't that sure he'd still have a job at this stage...

Instead he got 10% last year and apparently it will be around 5-7% this year.

The bonus is supposed to be based on performance rather than how well the company is doing, and last year they did actually go through a whole list of targets with him, then tell him what he'd got as a result. He can get up to 20% and last year he got 18%. Hopefully this year will be as good.

Re: payrises and bonuses
 

Gotcha. So you are essentially get your own money back and perhaps a little of someone else's ;)