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Message
Sign on bonuses with no matching raise the next year
Posted on 4/10/19 at 4:18 pm
Posted on 4/10/19 at 4:18 pm
I recieved a sign on bonus of aproximately 7% of my yearly salary when I joined my current company and I'm about to be getting paid less in my second year on the job than the 1st year on the job because they "can't give anyone more than a 3% raise" which I know is a bunch of bs. I really hope they realize the vast majority of employees are going to leave for better pay if they're not promoted, because no one is going to do the same or in my case more work for less pay. There is something intrinsically wrong about being paid less than what you made the previous year, unless of course we're talking about top dollar contracts. This is a job straight out of college.
29
Posted on 4/10/19 at 4:25 pm to HogFanfromHTown
You're not doing the same/more work for less money. You're doing the same/more work for 103% of last year's salary.
Posted on 4/10/19 at 4:29 pm to HogFanfromHTown
quote:
There is something intrinsically wrong about being paid less than what you made the previous year, unless of course we're talking about top dollar contracts. This is a job straight out of college.
First of all, a sign on bonus is exactly that. A bonus. It's not part of your base pay.
secondly, as you move up in most careers, your total comp includes larger and larger variable portions, so numerous times in your career you make less in total comp than the previous year.
thirdly, you sound extremely whiny considering you are a year out of college so you have probably cost your company more money than you've made them.
My advice to anyone under 35-40 is to focus on taking jobs that will grow and advance your career and worry less about what your getting paid. What you make in your 20's will be small potatoes compared to what you could make in your 40's and 50's. This obviously applies only to people who plan to climb the ladder. If you plan on being a sales guy for life, then just take the money.
Posted on 4/10/19 at 4:30 pm to HogFanfromHTown
Guess you'd be better off if they didn't give you the 7% bonus then.
Posted on 4/10/19 at 4:31 pm to DallasTiger45
quote:
You're not doing the same/more work for less money. You're doing the same/more work for 103% of last year's salary.
No I'm doing work for 96% of my total compensation for last year. Which is ridiculous.
Posted on 4/10/19 at 4:34 pm to barry
quote:
thirdly, you sound extremely whiny considering you are a year out of college so you have probably cost your company more money than you've made them.
I work in data. I'd be fired if I wasn't saving my company money. I literaly saved the company over 200k. I honestly feel insulted.
Posted on 4/10/19 at 4:36 pm to HogFanfromHTown
First off, you are one of a VERY few people to get a sign on bonus straight out of college.
Secondly, the bonus was to attract you to the company only. They are not forced to ensure you get that bonus the following year. If they agreed to give you that 7% raise to match what you made last year, would you feel the same the following year if they only gave you 3% or not a raise at all?
If I am being honest, the fact they are even giving you a raise after only a year is a surprise. Take the 3% and be happy about it. You are too new still and replaceable.
Secondly, the bonus was to attract you to the company only. They are not forced to ensure you get that bonus the following year. If they agreed to give you that 7% raise to match what you made last year, would you feel the same the following year if they only gave you 3% or not a raise at all?
If I am being honest, the fact they are even giving you a raise after only a year is a surprise. Take the 3% and be happy about it. You are too new still and replaceable.
This post was edited on 4/10/19 at 4:43 pm
Posted on 4/10/19 at 4:37 pm to SLafourche07
quote:no but they sure would have a much better job at retaining me if I they would compensate me at minimum at the same level I was the previous year. This wouldn't be an issue if they gave bonuses outside of sign-on but they don't.
Guess you'd be better off if they didn't give you the 7% bonus then.
Posted on 4/10/19 at 4:39 pm to HogFanfromHTown
quote:
No I'm doing work for 96% of my total compensation for last year. Which is ridiculous.
Welcome to adulthood, see my comment about variable comp.
Also can you be more specific than you work in data?
Posted on 4/10/19 at 4:40 pm to HogFanfromHTown
You should have asked when you started if there was a bonus structure. The sign on bonus is not a part of your salary, so you cannot figure that into your second years compensation.
Posted on 4/10/19 at 4:41 pm to rowbear1922
quote:
First off, you are one of a VERY few people to get a sign on bonus straight out of college.
The practice has become standard you definitley aren't in tune to the current job market for recent business school graduates.
quote:
how would you feel the following if they only gave you 3% or not a raise at all?
They did give me a 3% raise. If I was given 0. I'd be looking for a new job as I type this.
quote:
If I am being honest, the fact they are even giving you a raise after only a year is a surprise. Take the 3% and be happy about it. You are too new still and replaceable
If I am being honest you sound like someone talking out of your arse. You're surprised I'm getting a raise after 1 year? Yeah man you have no idea wtf your talking about. Idk what industry you work in but it sounds shitty tbh.
Posted on 4/10/19 at 4:42 pm to HogFanfromHTown
was there a question anywhere in that screed or are you just whining into the void?
Posted on 4/10/19 at 4:44 pm to HogFanfromHTown
Do you not understand that bonuses are not guaranteed? You're not getting paid less, you got a raise. You're getting paid more.
Posted on 4/10/19 at 4:44 pm to barry
quote:
Also can you be more specific than you work in data?
Data Analyzation/Project Development. I basically work hand in hand with our engineers and programmers.
Posted on 4/10/19 at 4:44 pm to HogFanfromHTown
quote:
The practice has become standard you definitely aren't in tune to the current job market for recent business school graduates.
Neither are you as you don't understand that sign on bonus' aren't considered to be part of your annual comp.
Did you ask about annual bonus' when you took the job?
Posted on 4/10/19 at 4:47 pm to HogFanfromHTown
There's a millenial [eyeroll] joke in here somewhere. But seriously, the 7% was a bonus. You're making 3% more in year 2 than you were making in year 1. Your paychecks should be bigger. If you're not happy with it, find another job.
Posted on 4/10/19 at 4:48 pm to barry
quote:
Neither are you as you don't understand that sign on bonus' aren't considered to be part of your annual comp.
Did you ask about annual bonus' when you took the job?
I do understand that. I just don't understand how my employer thinks they can pay me less this year than the previous one and not expect me to feel slighted. No, I don't think I did.
Posted on 4/10/19 at 4:48 pm to HogFanfromHTown
I just went three years without a raise while my industry went through a downturn. I did the same if not more work since we had a 10% RIF. I definitely did not come to the internet to cry about it. I did my job and helped my company get through the downturn. They did give everyone under $60k 3% raises those years; which probably meant a lot to them.
Put your big boy pants on and work. You think you did a better job than the 3% you were given? Go tell them why and ask for more money. Raises aren't necessarily for the past year's performance. That's what a bonus should be for.
ETA: And you keep harping on the bonuses. My bonuses were 50% less the last three years too. But we got through the shitty market and things are very nice again.
Bonuses are NEVER guaranteed.
Put your big boy pants on and work. You think you did a better job than the 3% you were given? Go tell them why and ask for more money. Raises aren't necessarily for the past year's performance. That's what a bonus should be for.
ETA: And you keep harping on the bonuses. My bonuses were 50% less the last three years too. But we got through the shitty market and things are very nice again.
Bonuses are NEVER guaranteed.
This post was edited on 4/10/19 at 4:51 pm
Posted on 4/10/19 at 4:49 pm to HogFanfromHTown
Your problem is you do not understand bonus versus salary.
Posted on 4/10/19 at 4:49 pm to bamaatlsu
quote:
If you're not happy with it, find another job.
That's the plan. I just posted it on here to get an idea of if people thought that was ridiculous or if I'm an entitled millenial. Apparently I'm the latter.
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