107%

[Dottleshead ★]

That's what my company is paying out on our bonuses this year.  Apparently it was another good year for them -- for us -- for me.  The month of March in my home is always a good month and it just so happens this year, March is also a three paycheck month.  It's like hitting the reset button and filling the pantry.  So I got nothing to bitch about for the next couple months until all this wears off.  Then I'll prep my resume and hope to mow lawns for Kazoo.

[shootingstar]

25 minutes ago, Dottleshead said:

That's what my company is paying out on our bonuses this year.  Apparently it was another good year for them -- for us -- for me.  The month of March in my home is always a good month and it just so happens this year, March is also a three paycheck month.  It's like hitting the reset button and filling the pantry.  So I got nothing to bitch about for the next couple months until all this wears off.  Then I'll prep my resume and hope to mow lawns for Kazoo.

Good to have a near future plan, Dottles.

I have never received a bonus like that.  However I really think I got ripped off with 1 firm and didn't negotiate firmly enough.

[BuffJim]

8 minutes ago, Dottleshead said:

That's what my company is paying out on our bonuses this year.  Apparently it was another good year for them -- for us -- for me.  The month of March in my home is always a good month and it just so happens this year, March is also a three paycheck month.  It's like hitting the reset button and filling the pantry.  So I got nothing to bitch about for the next couple months until all this wears off.  Then I'll prep my resume and hope to mow lawns for Kazoo.

Not bad. Are you saying if your annual salary is 100k, your bonus is 107k on top of that?  That’s huge, but I suspect I’m misinterpreting.  My bonus just hit my bank today. Best one ever, but net is only about half of the gross. Between 10 and 15% of annual salary.

[BuffJim]

17 minutes ago, Dottleshead said:

  Then I'll prep my resume and hope to mow lawns for Kazoo.

Kazoo’s not a lawyer is he? Can’t help but wonder if this real life story is about him?

A wealthy lawyer was riding in his limousine when he saw two women along the roadside eating grass. Disturbed, he ordered his driver to stop and he got out to investigate. He asked one women, "Why are you eating grass?" "We don't have any money for food," the poor women replied. "We have to eat grass." "Well then, you can come with me to my house and I'll feed you," the lawyer said. "But sir, I have a husband and two children with me. They are over there, under that tree." "Bring them along," the lawyer replied. Turning to the other poor women he stated, "You come with us also." The second women, in a pitiful voice then said, "But sir, I also have a husband and SIX children with me!" "Bring them all, as well," the lawyer answered. They all entered the car, which was no easy task, even for a car as large as the limousine. Once underway, one of the poor fellows turned to the lawyer and said, "Sir, you are too kind. Thank you for taking all of us with you." The lawyer replied, "Glad to do it. You'll really love my place; the grass is almost a foot high!"

[Kzoo]

14 minutes ago, BuffJim said:

Kazoo’s not a lawyer is he? Can’t help but wonder if this real life story is about him?

A wealthy lawyer was riding in his limousine when he saw two women along the roadside eating grass. Disturbed, he ordered his driver to stop and he got out to investigate. He asked one women, "Why are you eating grass?" "We don't have any money for food," the poor women replied. "We have to eat grass." "Well then, you can come with me to my house and I'll feed you," the lawyer said. "But sir, I have a husband and two children with me. They are over there, under that tree." "Bring them along," the lawyer replied. Turning to the other poor women he stated, "You come with us also." The second women, in a pitiful voice then said, "But sir, I also have a husband and SIX children with me!" "Bring them all, as well," the lawyer answered. They all entered the car, which was no easy task, even for a car as large as the limousine. Once underway, one of the poor fellows turned to the lawyer and said, "Sir, you are too kind. Thank you for taking all of us with you." The lawyer replied, "Glad to do it. You'll really love my place; the grass is almost a foot high!"

Love this story.

Signed, Kzoo Lawn Care and Legal Services, LLC

[12string]

Just heard this morning - after months of silence - that we ARE getting a bonus this year.

I think it will be a few dollars over 107%.  O last year's bonus.  Which was zero.

 

[Kzoo]

34 minutes ago, Dottleshead said:

Then I'll prep my resume and hope to mow lawns for Kazoo.

No bonuses at Kzoo Inc.  You're privilege here is that you get to keep your job, maybe.

 

[shootingstar]

48 minutes ago, BuffJim said:

Not bad. Are you saying if your annual salary is 100k, your bonus is 107k on top of that?  That’s huge, but I suspect I’m misinterpreting.  My bonus just hit my bank today. Best one ever, but net is only about half of the gross. Between 10 and 15% of annual salary.

Have same general query as you.

I have heard of some unbelievable bonuses in private sector locally. I know engineers who have left our big municipality in past 2 yrs.....some have gotten whopping compensation pkgs. starting off mid-career with a major engineering firm.

However, after working for global private sector firms, I was tired. And was getting cynical.  I didn't want to finish career angry and cynical.  So I was happy to work for govn't with alot of learning opportunities while upskilling also. and work across the organization, not siloed in 1 business unit.

  In 2014-2017, there were MAJOR oil and gas local layoffs in our city.  Over 10,000-20,000 folks. 

Some of those folks....came to govn't and joined our team.  So in the end, our organization benefits.  

[Bikeguy]

27 minutes ago, BuffJim said:

Not bad. Are you saying if your annual salary is 100k, your bonus is 107k on top of that?  That’s huge, but I suspect I’m misinterpreting.

I'm suspect 107% is a multiplier of 1.07 and that gets applied to whatever formula they use to calculate the bonus.   

[ChrisL]

My boss discussed bonus distribution during a staff meeting in February and they are due to pay out soon.  I didn’t ask if I was eligible only being on board for 2.5 months of the year but we’ll see.  My position rates 15% but I once got a 30% and stock options so it is discretional.  I have also received about $500 worth of company points I cashed out in gift cards since my return  so it’s not like they aren’t taking care of me.

 

 

[Kirby]

Annual bonuses is one of the few things I miss about work! Congrats @Dottleshead!

[ChrisL]

1 hour ago, BuffJim said:

Not bad. Are you saying if your annual salary is 100k, your bonus is 107k on top of that?  That’s huge, but I suspect I’m misinterpreting.  My bonus just hit my bank today. Best one ever, but net is only about half of the gross. Between 10 and 15% of annual salary.

 

1 hour ago, shootingstar said:

Have same general query as you.

I have heard of some unbelievable bonuses in private sector locally. I know engineers who have left our big municipality in past 2 yrs.....some have gotten whopping compensation pkgs. starting off mid-career with a major engineering firm.

However, after working for global private sector firms, I was tired. And was getting cynical.  I didn't want to finish career angry and cynical.  So I was happy to work for govn't with alot of learning opportunities while upskilling also. and work across the organization, not siloed in 1 business unit.

  In 2014-2017, there were MAJOR oil and gas local layoffs in our city.  Over 10,000-20,000 folks. 

Some of those folks....came to govn't and joined our team.  So in the end, our organization benefits.  

Yes generally 107% is 1.07 your salary.  Bonuses are a sweet perk but Uncle Sam taxes the shit out of them so you do lose half in taxes.  

[shootingstar]

27 minutes ago, ChrisL said:

Yes generally 107% is 1.07 your salary.  Bonuses are a sweet perk but Uncle Sam taxes the shit out of them so you do lose half in taxes.  

In CAnada, if the bonus, is simply extra money, that is added to person's total annual earned income.  Then the tax rate is applied.

(I have no idea about stock options since I never had that at all.)

[groupw]

We received some stock for a better than expected quarter. It went up dramatically when earnings went public. There is a waiting period before these are fully vested. I have some that just matured that I didn’t cash in the open trading window. Sitting on them for now. My manager has a pretty good feel for this and decided not to sell. He has been very accurate as long as I have worked with him. So we’ll let ‘em ride for now. 

[MickinMD ★]

4 hours ago, Dottleshead said:

That's what my company is paying out on our bonuses this year.  Apparently it was another good year for them -- for us -- for me.  The month of March in my home is always a good month and it just so happens this year, March is also a three paycheck month.  It's like hitting the reset button and filling the pantry.  So I got nothing to bitch about for the next couple months until all this wears off.  Then I'll prep my resume and hope to mow lawns for Kazoo.

We had one weird 3 paycheck month.

It was a December and the 3rd paycheck would make 27 every-other-week paychecks for the year and more taxes to pay the next April, while the next year would have 25 checks.

So the idiots in payroll decided to move our 3rd paycheck back to January without telling us - tens of thousands of us.

People who paid their mortgage, etc. around the last business day of the month were screwed because the money was not in their checking accounts!

I also learned that a lot of well-paid teachers didn't have enough money in savings to cover it, either.

Not long after, they decided to pay us teachers 22 every-other-week checks, basically skipping July and August, instead of 26 and schedule the first of each school year so we got 22 per calendar year.

[Bikeguy]

3 hours ago, ChrisL said:

Yes generally 107% is 1.07 your salary.  

I depends...    

Not were I worked.

Where I worked, your bonus was based on your level in the management pyramid.   My bonus was 20% of my pay.  (one management level down it as 15%, go up a level it went to 25%, etc...)   Our goals and personal review were used to create multiplier.   That multiplier could eliminate or increase the 20% bonus.

If you failed at your goals the multiplier worked it's way down to zero.   Or reviews created ranking of the employees A, B of C.  The C group got a zero bonus.  B was 100% The A group got 110%.  The goal multiplier and ranking percentage were combined and that percentage applied to the possible bonus of 20% (not my entire pay).   

[Bikeguy]

33 minutes ago, MickinMD said:

It was a December and the 3rd paycheck would make 27 every-other-week paychecks for the year and more taxes to pay the next April, while the next year would have 25 checks.

So the idiots in payroll decided to move our 3rd paycheck back to January without telling us - tens of thousands of us.

People who paid their mortgage, etc. around the last business day of the month were screwed because the money was not in their checking accounts!

I also learned that a lot of well-paid teachers didn't have enough money in savings to cover it, either.

When I worked, we got paid ever 2 weeks.  Usually that meant there 2 months in the year that had 3 checks for a total of 26 paychecks a year. 

My spending was all based on only 2 paychecks per month (24 for the year).  The months with extra checks were saved.  Kind of like a mini bonus twice a year.

If I recall there was a year or maybe 2 years where we got 27 paychecks and of course 25 in the next year.   

[BuffJim]

35 minutes ago, Bikeguy said:

When I worked, we got paid ever 2 weeks.  Usually that meant there 2 months in the year that had 3 checks for a total of 26 paychecks a year. 

My spending was all based on only 2 paychecks per month (24 for the year).  The months with extra checks were saved.  Kind of like a mini bonus twice a year.

If I recall there was a year or maybe 2 years where we got 27 paychecks and of course 25 in the next year.   

That was my favorite pay style, but most of my jobs have been semi-monthly, 24 checks a year.

[ChrisL]

1 hour ago, Bikeguy said:

I depends...    

Not were I worked.

Where I worked, your bonus was based on your level in the management pyramid.   My bonus was 20% of my pay.  (one management level down it as 15%, go up a level it went to 25%, etc...)   Our goals and personal review were used to create multiplier.   That multiplier could eliminate or increase the 20% bonus.

If you failed at your goals the multiplier worked its way down to zero.   Or reviews created ranking of the employees A, B of C.  The C group got a zero bonus.  B was 100% The A group got 110%.  The goal multiplier and ranking percentage were combined and that percentage applied to the possible bonus of 20% (not my entire pay).   

I worked for a firm once where your bonus was tied to your year over year profit improvement. Whatever the percent of improvement was your percent of salary in bonus.   In 2009 the stars aligned by two huge legal settlements that tanked 07 and me cleaning up the financials and negotiating a huge rate increase with profit improvement of 5% in 08.  Anyway year over year profit improvement was nearly 200%!    
 

Anyway that was the year I bought the Bianchi as I figured I’d never see a bonus like that again.  Little did I know I got a similarly large one (not in % but in total dollars)  in 21, the year I bought the Ritchey! 😂

[Razors Edge ★]

14 hours ago, ChrisL said:

Bonuses are a sweet perk but Uncle Sam taxes the shit out of them so you do lose half in taxes.  

You lose them in that "paycheck" but it is simply income taxed at your "annual rate" once you file your taxes.  Ie - $100k with a $10k bonus = $110k tax bracket instead of $100k tax bracket. So no big woop relative to the whole.

10 hours ago, BuffJim said:

That was my favorite pay style, but most of my jobs have been semi-monthly, 24 checks a year.

Yeah, when I was paying attention to monthly bills, that "extra" paycheck was always a great month.  Nowadays, it is the 15th and the last day of the month for me, and that's fine.  But 26 paychecks is always "better" than 24!

[Dottleshead ★]

21 hours ago, BuffJim said:

Not bad. Are you saying if your annual salary is 100k, your bonus is 107k on top of that?  That’s huge, but I suspect I’m misinterpreting.  My bonus just hit my bank today. Best one ever, but net is only about half of the gross. Between 10 and 15% of annual salary.

No, our bonus is 8% of salary multiplied by 1.07

[Dottleshead ★]

20 hours ago, Kirby said:

Annual bonuses is one of the few things I miss about work! Congrats @Dottleshead!

Wait. Wut?  Are you retired now?

[Dottleshead ★]

17 hours ago, Bikeguy said:

When I worked, we got paid ever 2 weeks.  Usually that meant there 2 months in the year that had 3 checks for a total of 26 paychecks a year. 

My spending was all based on only 2 paychecks per month (24 for the year).  The months with extra checks were saved.  Kind of like a mini bonus twice a year.

If I recall there was a year or maybe 2 years where we got 27 paychecks and of course 25 in the next year.   

You are better than us. In the past, we've mostly used those extra checks to catch up but for a couple/few years.  This year, however, we are all caught up and the cars are up to par with their service/maintenance/tires.  Most of the extra will go to the financial advisor account now. After bonus, the slush fund will be restocked and I see no major expenses on the horizon. But no doubt something will pop up -- it always does.

[Dottleshead ★]

5 hours ago, Razors Edge said:

Yeah, when I was paying attention to monthly bills, that "extra" paycheck was always a great month.  Nowadays, it is the 15th and the last day of the month for me, and that's fine.  But 26 paychecks is always "better" than 24!

I worked for one company that paid me monthly, At first I hated it but then I grew to love it. You get an early drop at the beginning of the month with a giant lump of cash, pay all your bills (in full) and then coast into the next month. Repeat.

[Bikeguy]

1 hour ago, Dottleshead said:

You are better than us.

No... I was just WAY more paranoid about what would happen if I lost my job.  Or worse is WoBG and I both lost our jobs. (we worked for the same company, that's were we met)   We didn't want to be homeless.. ever. 

Our company had sooooo many layoffs, downsizing, consolidations... I had to reapply for my job twice, etc...    WoBG and I lived well below our means and we saved money just in case we suddenly found ourselves unemployed.   After a while we had a years of pay saved. 

So many people have no emergency funds or at best $1000.  Living paycheck to paycheck with no savings....  like Mick already explained, that was not going to be us.    

18 hours ago, MickinMD said:

People who paid their mortgage, etc. around the last business day of the month were screwed because the money was not in their checking accounts!

I also learned that a lot of well-paid teachers didn't have enough money in savings to cover it, either.

 

[Kzoo]

17 hours ago, Bikeguy said:

When I worked, we got paid ever 2 weeks.  Usually that meant there 2 months in the year that had 3 checks for a total of 26 paychecks a year. 

My spending was all based on only 2 paychecks per month (24 for the year).  The months with extra checks were saved.  Kind of like a mini bonus twice a year.

If I recall there was a year or maybe 2 years where we got 27 paychecks and of course 25 in the next year.   

This is the way our pay structure is.  This year the 3 period months are March and August.  And yes, once every several years there is an additional month with 3 periods.  

[Dottleshead ★]

28 minutes ago, Bikeguy said:

No... I was just WAY more paranoid about what would happen if I lost my job.  Or worse is WoBG and I both lost our jobs. (we worked for the same company, that's were we met)   We didn't want to be homeless.. ever. 

Our company had sooooo many layoffs, downsizing, consolidations... I had to reapply for my job twice, etc...    WoBG and I lived well below our means and we saved money just in case we suddenly found ourselves unemployed.   After a while we had a years of pay saved. 

So many people have no emergency funds or at best $1000.  Living paycheck to paycheck with no savings....  like Mick already explained, that was not going to be us.    

Did you have 401k? Roth? I’m maxed out on both and trying to save extra. Our move to Bellingham has allowed us to be in good footing. Greater Seattle market is challenging. Of course finding a new job will be more challenging now if I lose my current one.

[Dottleshead ★]

21 hours ago, ChrisL said:

Yes generally 107% is 1.07 your salary.  Bonuses are a sweet perk but Uncle Sam taxes the shit out of them so you do lose half in taxes.  

Yeah I think it’s 22% on top of regular income tax. Basically 30-40% goes to our government. Still it’s all whipped cream.

[BuffJim]

12 minutes ago, Dottleshead said:

Yeah I think it’s 22% on top of regular income tax. Basically 30-40% goes to our government. Still it’s all whipped cream.

Mine worked out to 36% taxes, 14% 401(k) and 50% net, of which I put half into my mutual fund investments.

[Bikeguy]

1 minute ago, Dottleshead said:

Did you have 401k

This...  10% of my money was in the 401K before I my pay was deposited in my checking account.   I used the checking account to pay the bills and some of that was saved for 'just in case'.  

Plus a pension that I was lucky to keep.   In 2001 our company did away with pensions to new employees.   They also offered a cash balance account that I could have selected in stead of the pension.  The 'sell' was by the time I would retire, I'd have millions in that cash balance account.  The interest paid in the account was tied to some of the stock market indexes.   The company had some very optimistic future stock marker predictions.  I used Excel and modeled the proposed cash balance account, and then changed some of the years to what I thought was more realistic.  It was amazing... the millions disappeared from the account at my retirement age.   My guess of the future value of the account was much better than the companies propaganda guess. 

I was able to grandfather in the pension.   Many didn't...  they lived to regret that decision.  One guy I knew he was older than me and he kept working much longer than I expected him to work.  I asked him why are you still working?   Yeah...  he selected the cash balance account rather than the pension and he needed to keep working.

[Kirby]

5 hours ago, Dottleshead said:

Wait. Wut?  Are you retired now?

Yup.  Late last year.  I had been vacillating for a long time, but a bunch of factors all kind of came together last year.

[Dottleshead ★]

7 hours ago, Kirby said:

Yup.  Late last year.  I had been vacillating for a long time, but a bunch of factors all kind of came together last year.

You and @JerrySTL are now both my heroes.

[Prophet Zacharia]

Bonus? I got a $6 cafeteria voucher.

[Razors Edge ★]

6 hours ago, Dottleshead said:

You and @JerrySTL are now both my heroes.

Among others here.  I like these folks cutting the cords!

[Randomguy]

You should spend some of that money coming to NYC to visit.  You could even bring the wife if she got her own bonus.

[Dottleshead ★]

4 hours ago, Randomguy said:

You should spend some of that money coming to NYC to visit.  You could even bring the wife if she got her own bonus.

She has never been.  She once confided in mean that NYC seems daunting.

[Dottleshead ★]

6 hours ago, Prophet Zacharia said:

Bonus? I got a $6 cafeteria voucher.

Yeah but you get all those hours!  Who cares if you're salary??

[Randomguy]

12 minutes ago, Dottleshead said:

She has never been.  She once confided in mean that NYC seems daunting.

Pfft. whatta wuss!  Here I am, offering to guide you, and she is in full daunt mode.  Geez.

Easy solution, though, just don't bring her!

[Razors Edge ★]

32 minutes ago, Randomguy said:

Easy solution, though, just don't bring her!

Hookers and blow work much better when spouses/gfs aren't involved.  Too much "drama".

[Kirby]

2 hours ago, Randomguy said:

Pfft. whatta wuss!  Here I am, offering to guide you, and she is in full daunt mode.  Geez.

Easy solution, though, just don't bring her!

No, Mrs Dottles rocks.  He'll just have to convince her.

[Dottleshead ★]

20 minutes ago, Kirby said:

No, Mrs Dottles rocks.  He'll just have to convince her.

That’s very kind of you to say Kirby. I’m lucky to be married to her.

[Randomguy]

20 minutes ago, Kirby said:

No, Mrs Dottles rocks.  He'll just have to convince her.

Nope, you will simply take her place on the trip, it is decided.