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Bonus - But what if I leave?

  • 13-02-2008 11:52am
    #1
    Xcellor
    Registered Users, Registered Users 2 Posts: 2,821 ✭✭✭


    Hi All,

    I have been working for a company for 3 years. The company has never reached the target so I've never got a bonus. I'm sick of it since my basic salary isn't enough. The end of hte fiscal year was end of January but we haven't been told yet if we met the goals....I am actively looking for other jobs but my question is if I leave now and the company reaches its goal for last fiscal year (which I was working in total) should they pay me the bonus?

    Since it's a condition of my employment and I was active in the company between the period I would say yes... Any experience on this?

    X


Comments

  • #2
    eve
    Registered Users, Registered Users 2 Posts: 427 ✭✭eve


    If you leave before the bonus is paid (even if it has been announced) then you will lose it. Was the same with my last employer. Their year was Jan to Dec but they paid in April. If you left before April you lost it.


  • #3
    Johnnio13
    Registered Users, Registered Users 2 Posts: 796 ✭✭✭Johnnio13


    Bonuses by there nature are "discretionary".

    You will find, as I did, that if you leave before the payout you are entitled to nothing as you are no longer on the payroll regardless how hard you work.

    Having done my previous company a huge service by staying on an extra 3 weeks to help with handover of work, I was repaid by being told I didn't qualify because bonuses were paid at the companies discretion...

    Sorry I don't have any better news for you...


  • #4
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    eve wrote: »
    If you leave before the bonus is paid (even if it has been announced) then you will lose it. Was the same with my last employer. Their year was Jan to Dec but they paid in April. If you left before April you lost it.

    This is my experience as well. You may have worked there while during the period over which the bonus was defined, but if you are not there come payout time, then you will lose it.


  • #5
    tHE vAGGABOND
    Registered Users, Registered Users 2 Posts: 6,693 ✭✭✭tHE vAGGABOND


    Yea, if you leave, or tell them you are leaving before the bonus is in your bank account then you will get nothing..

    Wait it out and be a good boy until the day comes - then you can leave the next day regardless [I've that done before tbh]


  • #6
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    ...or in short.... Play the Game :D


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  • #7
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    How much will the bonus be?


  • #8
    Xcellor
    Registered Users, Registered Users 2 Posts: 2,821 ✭✭✭Xcellor


    dublindude wrote: »
    How much will the bonus be?
    1500, not massive but considering I've never got it and been at this job 3 years it would be a nice parting gift.

    Well i've not got a new job yet but have interviews coming up. I guess if the new job is giving me more than my old salary + bonus then the choice shouldnt be too hard!


  • #9
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    Xcellor wrote: »
    1500, not massive but considering I've never got it and been at this job 3 years it would be a nice parting gift.

    Well i've not got a new job yet but have interviews coming up. I guess if the new job is giving me more than my old salary + bonus then the choice shouldnt be too hard!

    Don't forget that your bonus will be subject to tax too.

    You stated it well there though, if the monetary benefits of a new job outweigh waiting for a bonus, then the choice is clear.


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