For those still working - Did your company pay out the bonus?

[Aiming_4_55]

I work for a healthcare company and considering the climate, some say be thankful for a job. That's what employers are counting on.

This year the company paid bonus to 30% of employees based on star performance and position on the salary band. I am on the higher end of the scale, close to the max actually.

Unfortunately, this year I finished my first year as a telecommuter, the VP was fired (not retired) 3 months ago and no documentation was available, so I received a "meets expectation" and earned a 3% merit raise, no bonus. Bonus would of been 15 - 20k.

The SVP said I know this s*cks, but his hands are cuffed. He asked me what I thought and I said I was "disappointed". He prodded and I said, while I'm on the higher end of the scale without the bonus I'm on the lower end of the market. For my area, some consider "compliance" a bull market. The company I work for underestimate the work it needs to do so we are understaffed, but still manage to work <45 hours a week.

Should I:

- Accept and milk the telecommuting position
- Start a passive job search for similar job
- Get back into consulting for a 20% or more increase, but more travel

I'm about 3 years from FI, but probably won't RE for 6 - 8 years.

What would you do?

 

[FIREd]

DW's company played Scrooge this year. The bonus was much lower than last year, stock option grants were much less generous as well and merit increases were very low. DW busted her butt last year and got a great review from her boss so she was totally disappointed as were many of her co-workers. More than half of them had been contemplating leaving the company and I think they just got motivated.

What should you do? I don't know. You can always discretely test the waters and see what's out there.

 

[Meadbh]

In my industry we don't get bonuses, but I did have a situation where I was led to believe I would get a raise based on the quality of my work, and it didn't happen. I started looking, and so should you.

 

[Aiming_4_55]

FD - Thanks for the response.

I'm grateful for the merit raise as I know some received lower.

I guess I'm just checking for feedback if other companies held the purse string also. It's the first time in many that I haven't received a bonus. I don't count it in my FI spreadsheet until it's in the bank.

I started the passive search.

 

[FreeAtLast]

I find that at this point in life much has to do with happiness and not all $$$.
Currently I work PT about 20 hours with no bonus or recent raises. I am happy and I am not pushed too much and the computer programming work is very easy for me.

I am just hanging in for the health benefits for the next few years.

 

[Meadbh]

I find that at this point in life much has to do with happiness and not all $$$.

True, unless one feels one is being exploited.

 

[Moemg]

True, unless one feels one is being exploited.

At my last job we got small bonuses which were a plus since I had never gotten a bonus in health care before . They decided to cut the bonuses but the CEO and several of the partners were bragging about how much money they were making . I felt used and left .

 

[Aiming_4_55]

True, $$$ isn't everything. I'll reduce hours once I hit my magic number which is still a few years away.

I find that at this point in life much has to do with happiness and not all $$$.
Currently I work PT about 20 hours with no bonus or recent raises. I am happy and I am not pushed too much and the computer programming work is very easy for me.

I am just hanging in for the health benefits for the next few years.

 

[Aiming_4_55]

I don't feel exploited as I don't work many hours beyond 40 at least compared to before.

True, unless one feels one is being exploited.

 

[Aiming_4_55]

Isn't that the issue with most companies... CEO and partners making 100x the average joe or jane? When I walk pass the CEO or SVP knowing they just exercised 5M or more (something crazy) stock options, just want me to go off for the common man.

At my last job we got small bonuses which were a plus since I had never gotten a bonus in health care before . They decided to cut the bonuses but the CEO and several of the partners were bragging about how much money they were making . I felt used and left .

 

[Ronstar]

Typical executive bs by SVP in this economy. He wants to "know how you feel" and how others feel so that mgmt can gauge how low to cut raises/bonuses and still retain their employees. They want to pad the bottom line of the co and their wallets as well. Ask SVP what you have to do to get a better review than "meets expectation". Then test the waters. The co has no reason to sweeten the pot until their best employees are considering a move elsewhere.

 

[Amethyst]

I received a "meets expectation" and earned a 3% merit raise, no bonus. Bonus would of been 15 - 20k

For me, this thread may as well be about a different planet. My pay is capped and I cannot earn more. Owing to an act of Congress, I will not be getting a pay raise for several years. I am considered lucky if I get a bonus of 1% of my salary for excellent performance.

Amethyst

 

[Aiming_4_55]

I work very closely with the Corp Finance team. It makes me sick when I hear some big wigs say... employees have no where to go, so who cares. That is right for majority of the employees, but mistaken by some of the high demand skills. Very limited view as recruiting, learning curve, and morale will cost the company much more in the long run.

For me, good luck getting me to work harder. Also, any new projects, my estimate of resource needs just increased by 10%. Bad attitude, I know.

I spoke to a few recruiters that I've worked with previously, the market is decent. Previously, I would not invest any time to discuss options, now breakfast and lunch meetings became available.

Typical executive bs by SVP in this economy. He wants to "know how you feel" and how others feel so that mgmt can gauge how low to cut raises/bonuses and still retain their employees. They want to pad the bottom line of the co and their wallets as well. Ask SVP what you have to do to get a better review than "meets expectation". Then test the waters. The co has no reason to sweeten the pot until their best employees are considering a move elsewhere.

 

[Aiming_4_55]

It should of been exceeds expectation as I saved several projects being brought in when things were in jeopardy.

I felt the same way when I first joined the forum. I'm not sure about your situation, but pensions w or w/o COLA, retiree benefits, job security is not the norm for my world so I need to get what I can or it's considered lost opportunity cost to me.

For me, this thread may as well be about a different planet. My pay is capped and I cannot earn more. Owing to an act of Congress, I will not be getting a pay raise for several years. I am considered lucky if I get a bonus of 1% of my salary for excellent performance.

Amethyst

 

[jayc]

The SVP said I know this s*cks, but his hands are cuffed.
Should I:

- Accept and milk the telecommuting position

What would you do?

When telecommuting, sit at home for at least 3 hours with your hand cuffed like any other worthless SVP.

 

[FreeAtLast]

I could leave and go somewhere else for a few years. Perhaps make a few more dollars. Knowing that you have to pay your dues and prove yourself the first few years of employment makes me shy away from even think about it.

I don't want to have a staff, have to do what is good for the company(usually bad for me), or report to some jerk.

 

[JBmadera]

I've done both and there is virtually no way I would ever go back on the road. dire circumstances forced me to do it a number of years ago and it sure feels like it took a number of years off my life expectancy. telecommunting has its ups and downs, esp when it comes to politics, performance reviews, etc - nothing beats face time when it comes to office politics and performance evaluation.

So my long winded suggestion would be to hunker down and enjoy the fact that you're not on a first name basis with most United Airlines employees, once you're FI then you could re-evaluate.

good luck with your decision.

 

[Amethyst]

ex·cel [ ik sél ]

1. be very good: to be outstanding or have a particular talent in something
2. do well or better: to do better than all others, than a given standard, or than previous personal achievement

Synonyms: shine, stand out, outshine, outclass, surpass, outrival, top, best, outdo, outstrip

Yes, I, too, now must use the term "exceed expectations" to describe excellent performance. I am not sure why the word "excel" seems to have gone out of favor these days

As for your second comment, about pensions and such: I am not quite sure I follow. It is plain to see that we all need to get what we can; opportunity costs do not care who you work for. I should have been clearer, myself, and simply asked, "In what industry are $15-20K bonuses the norm?"

Amethyst

It should of been exceeds expectation as I saved several projects being brought in when things were in jeopardy.

I'm not sure about your situation, but pensions w or w/o COLA, retiree benefits, job security is not the norm for my world so I need to get what I can or it's considered lost opportunity cost to me.

 

[Aiming_4_55]

I'll just make checking the forum during the day more acceptable to myself. I could burn 2 - 3 hours a day with that and have more fun. Of course surfing would be via my personal computer and not on the company network.

When telecommuting, sit at home for at least 3 hours with your hand cuffed like any other worthless SVP.

 

[Aiming_4_55]

Sound like where I want to be in 5 years as my situation changes.

Different stages and phases of life. I'm glad you found your niche.

I could leave and go somewhere else for a few years. Perhaps make a few more dollars. Knowing that you have to pay your dues and prove yourself the first few years of employment makes me shy away from even think about it.

I don't want to have a staff, have to do what is good for the company(usually bad for me), or report to some jerk.

 

[Ronstar]

For me, good luck getting me to work harder. Also, any new projects, my est

That's not what I was getting at when I suggested "what do I have to do to exceed expectations?" I suggested it to see how stupid an answer the SVP gives you. Chances are he/she will be stunned by the question and not give you an answer that includes a measurable goal.

 

[Aiming_4_55]

Industry = my brother is a computer programmer (non management) in banking and received a bonus in that range the last few years. I'm in healthcare, corporate position/mid management, and normal bonus in that range. A few years ago in a consulting position 20 - 25k bonus was the normal for sr. mgr. Perhaps I've been spoiled.

snip
Yes, I, too, now must use the term "exceed expectations" to describe excellent performance. I am not sure why the word "excel" seems to have gone out of favor these days It's just the flavor of the month!

As for your second comment, about pensions and such: I am not quite sure I follow. Just commenting on a different planet for me as I started reading the forum. My first job provides me a small pension when I turn 55, but my last 3 jobs, no pension. It is plain to see that we all need to get what we can; opportunity costs do not care who you work for. I should have been clearer, myself, and simply asked, "In what industry are $15-20K bonuses the norm?"

Amethyst

 

[Aiming_4_55]

The SVP has no clue what I do nor does he have any concept of the scope of my projects. Sad huh?

When I read him an example of a project on my self eval that was given to him weeks ago..... highlight: turned around project, previous Project Mgr spent 6 months and project was sitting at 10 - 15% complete and then I completed the project within 6 weeks. I asked the SVP, did the other person get "does not meet"? Next time, I'll milk it for 3 - 4 months. (probably not, just my rant)

My future goals will be measureable and simple to attain.

That's not what I was getting at when I suggested "what do I have to do to exceed expectations?" I suggested it to see how stupid an answer the SVP gives you. Chances are he/she will be stunned by the question and not give you an answer that includes a measurable goal.

 

[Disappointed]

Received the same bonus in 2010 as 2009 but no raise. None of the employees received a raise.

Our company feels that employees are overpaid for what they do. The company has been stagnant for a while with no prospect of growing as the owners are getting ready to retire (privately owned). Owners are more interested in spending more time travelling than focusing on business (which I think is the right thing to do at the age of 61 and 63). Unfotunately, it also means that there is no opportunity for advancement for younger workers. Owners constantly mentioning how bad the economy is and how awful the unemployment situation is in CA (an indirect way of saying how lucky the employees are). Not sure how long the freeze in salary will be, the profitability of the company is not improving.

mP

 

[Amethyst]

Sheesh. What a crappy attitude on the owners' part. "We've got ours, you be grateful for the scraps." Employee morale must be horrible! I hope they sell to new owners with fire in the belly, or if that doesn't happen, that all the employees are able to find new jobs.

Amethyst

R
Our company feels that employees are overpaid for what they do. The company has been stagnant for a while with no prospect of growing as the owners are getting ready to retire (privately owned). Owners constantly mentioning how bad the economy is and how awful the unemployment situation is in CA (an indirect way of saying how lucky the employees are).